INKA Entworks support Indian data localization for fintech

By VARINDIA - 2021-01-07

INKA Entworks support Indian data localization for fintech

INKA Entworks will host its mobile app security solution AppSealing in Amazon Web Services (AWS) Asia Pacific (Mumbai) Region to support Indian data localization compliance requirements for fintech companies. Following the European Union’s General Data Protection Regulation, governments across the world have mandated, or are evaluating regulation to exercise control over how data is stored within countries and mirrored across regions. By hosting AppSealing in AWS’s Mumbai infrastructure region, INKA Entworks now offers its global customers, operating in India, a layer of additional risk compliance and high security protection for its application.

 

Indian regulators such as the Reserve Bank of India (RBI), the National Payment Corporation of India (NPCI), the Insurance Regulatory and Development Authority (IRDA), and the Securities and Exchange Board of India (SEBI) regularly issue security-related guidelines which companies in financial services, insurance, banking, and health sectors need to follow carefully. On one hand, large organizations such as Mastercard, VISA, American Express, among others are able to fulfil governmental requirements, the smaller companies and start-ups are challenged to meet continuous regulation requirements to protect their customer data. AppSealing fills this gap by offering both large and small companies the highest of industry security standards with the release of an India service that allows them to meet data localization and privacy-related rules in India.

 

Speaking on how AppSealing will help financial companies follow data localization regulations while using its security services in India, James Ahn, CEO of INKA Entworks, the holding company of AppSealing service says, “We have discussed with multiple financial service companies and relevant regulators to understand exactly what is needed to support the existing and prospective regulations and were able to build AppSealing India service, which is running on AWS in the AWS Asia Pacific (Mumbai) Region. It meets current Indian-specific rules on data localization”.

 

The tech sector in India is rapidly expanding, particularly for companies that offer financial services through easy-to-use mobile apps. With ease of use comes the danger of devices hacking, and attacks on app codes, servers, and network traffic. AppSealing offers protection against existing and emerging threats through its runtime application self-protection (rasp security) technology and other security features.

 

 “Financial services companies operating in India use AWS to host their mobile apps and data. The AppSealing India offering is compliant with data localization rules and PII requirements for Indian banks and financial services entities in India. It securely stores mobile apps and any data within India region and does not collect any PII data. It has also received information security management certification ISO 27001/2013, ISO 27017/2015, and ISO 27018/2019 certifications,” says Govindraj Basatwar, Head of Global Business for INKA Entworks.


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