Business Economy

Tata Communications launches IZOTM Financial Cloud platform in India

Mumbai, Jul 27 (UNI) Tata Communications, a global digital ecosystem enabler,on Tuesday launched ‘IZOTM 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 IZOTM 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 IZOTM 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.
Rajesh Awasthi, Associate Vice President and Global Head, Managed Hosting and Cloud Services, Tata Communications, said, ”Being at the forefront of digital transformation is vital to survive in today’s competitive environment where digital is not only an enabler but a differentiator. Financial institutions in India have significantly shifted to digital, providing highly personalised digital experience to their consumers with round-the-clock access to banking services through online platforms and mobile apps.
We at Tata Communications recognise the journey they are undertaking and aim to assist the financial industry with a catalytic solution. IZOTM Financial Cloud supports to simplify the modernisation charter, fuel innovation employing new technologies and plan business continuity through a geo-resilient redundancy to manage disaster situations.”

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