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Sanovi Tech brings DRM solutions for banks

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CIOL Bureau
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MUMBAI, INDIA: IT Disaster Recovery Management (DRM) software provider Sanovi Technologies launched its new DRM solutions specially designed for banks in India.

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The new DRM solutions are based on Reserve Bank of India's (RBI) Gopalkrishna Committee recommendations on business continuity planning (BCP) in banks and takes into account Information Security, Electronic Banking, Technology Risk Management and Cyber Fraud.

The committee's report has touched up on BCP/DR standards, which banks need to undertake and RBI has made mandatory for banks to deploy and exhibit their business continuity and IT DR capabilities.

Sanovi's latest DRM offering belongs to the fourth generation of DRM software tools and is interoperable or suitable for heterogeneous IT environment. It offers modules such as DR Solution Monitoring, Recovering Automation and DRM Drill Managers.

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These solutions can perform both in virtual and real or non-virtual environments of banks.

''DRM is applicable to sectors everywhere but these solutions are specifically designed and developed for banks as per RBI regulations and compliance,'' said Lakshman Narayanswamy, Sanovi's co-founder and vice-president of products.

The Bangalore based company backed by Rs 1500 crore Betul Oil Group earns around 50 per cent revenue from banking sector and last year its annual income was just under $5 million.

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''The introduction of Sanovi DRM for Banking specially engineered for Indian banks and complying with local regulations, marks another significant milestone for Sanovi and further validates our leadership in the DR solution space,'' said Ashis Guha, Sanovi's president of Global Sales.

In terms of solutions' pricing, Guha pointed out that it depends on application, environment, customization and client's requirements.

Sanovi claimed to be number one player in DR software space; however, other players like Symantec and VMware do offer DR solutions in the market. According to ABI Research, the BCP/DR market worldwide is estimated to touch $39 billion by 2012.