Infotech Lead India: Sanovi Technologies has introduced the Sanovi Disaster Recovery Management (DRM) solution for banks.
The new software assists banks to automate their Business Continuity and Disaster Preparedness plan and comply with the regulations and guidelines set out by the Reserve Bank of India.
Indian banks are approaching one-year deadline set by RBI’s Working Group for implementing their recommendations on Business Continuity Planning (BCP) in banks. The committee’s report covered BCP/DR standards that banks must strive for. RBI made it mandatory for banks to demonstrate their business continuity and IT DR capabilities.
Sanovi worked with Indian banks to understand their regulatory and operational needs, and consulted with RBI to understand the Gopalakrishna Committee report.
Sanovi DRM for Banking is the first DR management product in the market that helps banks report on their Disaster Recovery capabilities and how they are meeting RBI regulatory requirements. The DRM solution also aids the banks in improving the availability of their services to their customers.
Sanovi DRM for Banking provides all the features that will enable banks to address various recovery aspects as laid out in the Gopalakrishna Committee report.
The business benefits to banks implementing Sanovi DRM are: reduced business exposure to IT outages, higher operational efficiency, adopt Industry best practices and enable an agile organization.
“Demand for DR Automation Solutions is growing, as customers are looking for ways to reduce production downtimes, and perform successful DR Drills. Critical banking applications, such as core banking, internet banking and RTGS, where any stoppage due to natural calamities or human induced errors can result in major business impact for the bank that translates to financial loss and customer dissatisfaction,” said Lakshman Narayanaswamy, Sanovi’s co-Founder and Vice President of Products.
“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, president Global Sales at Sanovi.
More than 80 large enterprises, many Fortune-500 companies among them as well as leading Indian banks are already using Sanovi products to manage their DR programs.