In conjunction with the RBI guidelines for banks operating in India, that directs them 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, Oracle India has unveiled the “Oracle Database Security & Compliance Solution”.

The solution, which will address risks in the area of data security, aims to enable banks to meet the compliance guidelines in a timely manner, with less administrative and IT integration expenditure, as well as reduce the number of exceptions for non-compliance, a common occurrence during IT audit processes, said the company.

“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. 

The solution can be deployed to private, public and most of the nationalized banks (including co-operative banks) to achieve preventive, detective and corrective controls in database management.

In addition, the solution will also tap activities of the users and provide a strong preventive mechanism to control unauthorized access. 

The Oracle Database Security & Compliance Solution comprises of number of Oracle Database products, including Database Vault, Audit Vault, Label Security and Enterprise Management Packs.

The solution can be implemented by the bank’s IT/ IS (information security) team or through Oracle PartnerNetwork members who work as implementation partners

 “The best part about the Oracle Database Security & Compliance Solution solution is that it can be easily integrated with the bank’s existing IT infrastructure,” said Ram.