Synology Offers Data Protection Solutions for India's Financial Sector

Synology, an IT solutions provider across edge, core, and cloud environments, showcased its comprehensive data management and protection offerings tailored for the financial industry at the Elets NBFC100 Tech Summit 2024, held on November 21, 2024, at ITC Maratha, Mumbai.

In light of the Digital Personal Data Protection Act (DPDPA) and a recent cyberattack on a fintech provider that impacted nearly 300 local banks, Synology addressed the pressing challenges faced by financial institutions. The company emphasized the critical need for robust and secure data management solutions to safeguard sensitive customer information.  

Key focus areas included:  

• Ensuring compliance with stricter data governance and localization requirements.
• Enhancing data security measures to mitigate cyber risks in the evolving regulatory landscape.  
• Providing scalable solutions designed to meet the unique demands of the finance sector.  

Synology reaffirmed its commitment to supporting financial institutions in protecting critical data while maintaining regulatory compliance and operational efficiency.  

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 Strengthens Support for Financial Institutions with Advanced Data Management Solutions

Synology has established itself as a trusted partner for financial institutions worldwide, including IDEA Bank in Poland and AGRIBANK in Vietnam. In India, the company collaborates with government-affiliated financial entities and leading insurance firms, providing customized storage solutions to address their specific requirements. These solutions enable seamless data localization, simplify data retention policy management, and deliver advanced security to safeguard sensitive financial information.  

Launch of ActiveProtect Series for Enhanced Data Protection

Synology introduced the ActiveProtect series, a cutting-edge backup appliance designed to simplify deployment and scaling for data-intensive sectors like finance. The appliance supports up to 2,500 multi-server environments across multiple sites offering features such as:

- Data immutability to protect against ransomware.  
- Streamlined interfaces for easy operation.  
- Robust retention policies to ensure business continuity.  

Speaking about the solution, Russell Chen, Country Manager for the SAARC region, said, “The ActiveProtect series is well-suited for India’s financial industry, empowering organizations to secure essential data and ensure rapid recoverability.”

HD6500: Synology’s High-Density Storage Solution  

To address the growing demand for large-scale data storage, Synology recently launched its flagship HD6500 model in India. Offering up to 6 petabytes of storage, the HD6500 is designed for:

- Serving as a centralized data repository.  
- Supporting backup systems for enterprises with substantial data storage needs.  

Specifically tailored for sectors such as banking, financial services, and insurance, the HD6500 combines high performance and scalability to meet the critical data management requirements of the financial industry.  

With these innovations, Synology continues to support financial institutions in India and beyond, ensuring robust, scalable, and secure data management solutions in an increasingly complex regulatory and operational environment.

Read More:

Synology Unveils Enterprise-Level Application Blueprint in India