Mumbai – November 2024 – Synology, a global leader in delivering comprehensive IT solutions that span edge, core, and cloud environments, showcased its range of complete data management and protection solutions for the financial industry in India at Elets NBFC100 Tech Summit 2024 on 21st November 2024, at ITC Maratha, Mumbai.
With the enactment of India’s Digital Personal Data Protection Act (DPDPA) and the recent disruptive cyber attack on a fintech provider affecting around 300 local banks, Synology highlighted the urgent challenges faced by financial institutions. Addressing stricter data governance requirements, Synology emphasized the importance of secure data management solutions to protect sensitive customer information, ensuring compliance with enhanced data localization and security standards crucial for the finance sector.
Russell Chen, Synology’s Country Manager for the SAARC region, remarked, “With the financial sector’s heightened focus on data security, the demand for large-scale data management, secure storage, and comprehensive solutions is more prominent than ever.” He added, “In India, Synology has observed a rising demand within the financial industry for high-standard backup solutions and rapid response capabilities. This reflects our strength in delivering secure storage and data protection solutions that not only meet compliance standards but also address the evolving needs of the sector. Our tailored approach ensures seamless alignment with the industry’s requirements for reliability and scalability, driving consistent growth and customer trust.”
Synology is a trusted partner for several global financial institutions, including IDEA Bank in Poland and AGRIBANK in Vietnam. Additionally, the company has established strong relationships with government-affiliated financial institutions and leading insurance firms in India, offering tailored storage management solutions that meet their unique needs. Synology’s solutions enable seamless data localization, simplify the management of data retention policies, and, most importantly, deliver advanced security to safeguard sensitive information.
Synology introduced its latest innovation in data protection, the ActiveProtect series—a dedicated backup appliance designed to simplify deployment and scaling in finance and other data-heavy sectors. With a streamlined interface, ActiveProtect secures up to 2,500 multi-server environments across multiple sites and provides data immutability and retention policies for robust business continuity against ransomware attacks. Russell Chen, Synology’s Country Manager for the SAARC region, stated, “The ActiveProtect series is well-suited to India’s financial industry landscape, empowering corporations to maintain essential data security and recoverability.”
To meet the rising demand for large-scale data storage, Synology recently launched its flagship HD6500 model in India. Offering up to 6 petabytes of storage, this high-density solution is perfect as a central data repository or backup system for enterprises with substantial data needs. Tailored for data-intensive sectors like banking, financial services, and insurance, the HD6500 sets a new standard in large-scale storage capabilities, delivering robust performance and scalability for critical data management.