Database Compliance Solution for Banks

by CXOtoday Staff    Sep 30, 2009

Oracle India has launched the "Oracle Database Security & Compliance Solution". The solution will help banks in India to address risks in the area of data security, as identified by the Department of Banking Supervision (DBS), Reserve Bank of India (RBI).

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 & Compliance Solution aims to enable banks to meet the compliance guidelines in a timely manner, with less administrative and IT integration expenditure. It will also help banks reduce the number of exceptions for non-compliance, a common occurrence during IT audit processes.

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 will monitor activities of the users and provide a strong preventive mechanism to deter unauthorized access.

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. 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.

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 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, says the company.

The Oracle Database Security & Compliance Solution can be implemented by the bank’s IT/ IS (information security) team or through Oracle PartnerNetwork members (System Integrators) who serve as implementation partners.