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October 20, 2020

RapidCompute launches cloud for banks, FIs

Business

October 20, 2020

KARACHI: RapidCompute, Pakistan’s local cloud service provider has announced the formal launch of its cloud services designed especially for the banking sector and financial institutions (FIs), a statement said on Monday.

The company has established dedicated data centres for banking operations with the highest level of security and compliance checks, keeping in mind all legal and policy requirements by the State Bank of Pakistan and other entities in light of the recent policy.

To make it a true banking cloud, they have also partnered with leading local and global providers of banking solutions and have set up locally hosted platforms that were ready for use by banks and FIs.

Through its focus on data security and confidentiality, RapidCompute has garnered a reputation for being the most secure platform for hosting sensitive data and critical information. Being the only GDPR compliant and PCIDSS 3.2.1 certified cloud in Pakistan, the company has hundreds of controls in place that keep data secure and in the control of the customers at all times.

RapidCompute Founder and MD Imran Khan said the banking sector has changed significantly in the last two decades, with consumers demanding the latest technologies. “RapidCompute has been helping the financial sector in digital transformation since more than half a decade through its services on the cloud and its experience with scalable deployments.

This is why we felt it important to partner with leading local and global players of banking solutions and work towards providing a locally hosted platform for them that also takes care of all the data protection considerations.”

Banks in Pakistan traditionally rely on legacy systems and have been reluctant to change their IT infrastructure and embrace digital transformation. Up until recently, there was no formal policy in place clearly defining what cloud-based outsourcing could be undertaken by banks.