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Oracle secures database soln for Indian Banks

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CIOL Bureau
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BANGALORE, INDIA:  Oracle India, today announced that it has launched the “Oracle Database Security and Compliance Solution”, to help banks in India address risks in the area of data security, as identified by the Department of Banking Supervision (DBS), Reserve Bank of India (RBI).

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Under the RBI guidelines, banks operating in India are required to secure and avoid misuse of high value consumer financial data such as those residing in but not limited to credit card and personal banking accounts.

The Oracle Database Security and Compliance Solution aims to enable banks to meet the compliance guidelines in a timely manner, with less administrative and IT integration expenditure.

It would also help banks reduce the number of exceptions for non-compliance, a common occurrence during IT audit processes, said a press release.

Private, public and most of the nationalized banks (including co-operative banks) can deploy this solution to help them implement preventive, detective and corrective controls in database management. In addition, the solution would monitor activities of the users and provide a strong preventive mechanism to deter unauthorized access.

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“IT adoption among banks in India has gone up in the last decade. As technology becomes affordable and strategic for business management, higher levels of computerization call for transparency and compliance requirements to be met.  It is critical for banks, which serve as custodians of citizens’ money, to meet compliance regulations easily and with the right IT infrastructure,” said Sundar Ram, vice president, Technology Sales Consulting, Oracle Asia Pacific. 

He further added that the best part about the Oracle Database Security and Compliance Solution solution is that it can be easily integrated with the bank’s existing IT infrastructure.

The solution enforces security at the database level, checking all users and bank applications that access the database. These include a wide range of systems such as core banking, corporate banking, credit cards, loan management, call center technology, treasury management, asset management, systems and servers, network and storage.

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Since the solution builds controls at the data level, it makes it fundamentally very difficult for any component in the database ecosystem to bypass it, the release said.

Also, the manual security processes in the database control mechanisms, which are siloed and prone to human error, can be automated and simplified, improving the integrity of the system and protection of audit evidence.

The Oracle Database Security and Compliance Solution enforces security at the database level, not at the application layer. As security rules are centrally controlled and not affected by application changes, this ensures that multiple applications, business processes and tools accessing the same set of data, do not bypass any data security policy, added the release.

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