Tata Communications announced the launch of 'IZO™ Financial Cloud', a purpose-built community cloud platform, enabling next-gen digital transformation, customised to meet the stringent data privacy and protection compliance and security guidelines defined by India's regulators for the Banking, Financial Services and Insurance (BFSI) sector. Developed on Tata Communications IZO™ Private Cloud, this platform aids in building an open banking ecosystem that offers BFSI and FinTechs, the foundation to enable advanced digital services. It also allows international banks to expand their footprint in India by meeting the country's data residency requirements.
With IZO™ Financial Cloud, the financial service providers are able to strengthen their customers trust by operating on a platform that is secure, compliant and supported by a transparent cloud model.
It also enriches the end-user experience by enabling BFSIs to launch advanced services with agility.
This purpose-built cloud platform will assist financial organisations to modernise their legacy systems to support the next-gen banking services and accelerate their digital transformation. It will embed security for data, application, and perimeter to manage industry specific cyber risks. It will also fuel future growth in the industry by serving as the execution venue for new technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Blockchain.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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