Last Updated on 11-01-2023

1. DEFINITION OF RECOVERY COLLECTION

In Sri Lanka as well as in many other countries worldwide, Banks, Financial Institutions as well as non-financial Institutions are in the process of collecting Debts pertaining to their Institutions & taking Legal actions through Third Parties. This operation is called "Business Process Outsource (BPO)". These BPO Companies use various techniques, activities and systems for this process to collect debts. Details of Banks/Financial Institutions with regard to recoveries which are highly confidential are frequently exchanged with these BPO Companies and there is a high risk pertaining to confidentiality. This is a very crucial area in this business.

2. What is “HELA-X 0.1”

It's a Cloud-based Recovery & Debt Collection Management Information System (MIS). Taking into the consideration of all aspects and also to make this process easier and transparent, we have developed a system which is 100% accurate, efficient, time saving and quite advantageous for all parties. We offer this system under the brand name "HELA-X" which is exclusive and specialized in the area of Financial Management

3. WHY THIS SYSTEM IS IMPORTANT? WHAT ARE THE ADVANTAGEOUS OF HAVING THIS SYSTEM?

• Confidentiality is a very important aspect when providing customer details to BPO Companies by Banks/ Financial Institutions and the security of these data, both of which are being challenged in the existing data transfer methods. The chances of misusing these confidential details are quite possible by third parties and at a high risk. The new MIS provides 100% data security. All functions of this system are developed in accordance with international standards powered by AWS system and as per rules and regulations of Central Bank of Sri Lanka. (See Annexure 02 for more details)
• As this is a Web based system, the concerned parties get the convenience of continuously engaging the work as per the situation, whether in office or at home (Remote work) For an example this facility is very important in an epidemic situation such as Corona and also in a situation like oil crisis. Therefore, it is a unique system.
• "User Status" clearly gives the correct information such as how long the concerned employees are logged in to the system and results, last time they were connected and the duration, number of hours they used the system per day/month etc. This enables Banks/Financial Institutions to get more accurate and efficient service from BPO Companies monthly and nothing can go wrong as per the system. Also, they can get the correct picture and, in a position, to evaluate their performance as well.
• GPS (Global Positioning System) Integrated with this & you can find the exact location of your employees.
• Being able to enter data using an EXEL sheet is very simple and convenient. This is not linked to main data system.
• Able to review REAL TIME (live) progress and to take relevant decisions, instantly updating your system with new customer data and information from BPO companies.
• We have seen many cases where the reputation of Banks/Financial Institutions are challenged by BPO Companies when a problem was encountered and making customers uncomfortable and troublesome. HELA-X 0.1 helps you to reduce this kind of situations and risks by 99.99% at present.With HELA-X 0.1 you get many services. This service is marketed as SAAS with full liability.

4. Why should financial institutions in Sri Lanka buy HELA-X 0.1?

Debt recovery is a major function of each and every financial institution. HELA-X makes that task easier and more efficient, reducing the risk of bad loans (written off) and introduces alternative financial facilities to their customers.

Many financial institutions / Bank and other institutions in Sri Lanka, 90% of them use Indian products. This is a unique opportunity for us to take a local company brand to the international market! An opportunity to encourage Sri Lankan entrepreneurs! Simply an opportunity to get the attention of the international financial market towards Sri Lanka.

5. Can financial institutions use AWS (Amazon Web Services)?

Yes. Financial institutions in Sri Lanka are permitted to use cloud services, provided that they comply with applicable legal and regulatory requirements, such as those described below.

6. Who are the financial regulators in Sri Lanka?

• Central Bank of Sri Lanka (CBSL) supervises financial institutions such as banks, licensed finance companies, specialized leasing companies and licensed microfinance companies.
• The Insurance Regulatory Commission of Sri Lanka (IRC) supervises insurance companies.
• The Securities and Exchange Commission of Sri Lanka (SEC) supervises capital market companies such as market intermediaries, stock brokers, exchanges and managing companies of unit trusts.

7. What regulations are applicable to financial institutions using AWS?

Financial Institutions in Sri Lanka may be subject to a number of different legal and regulatory requirements when they use cloud services.

Regulations issued by CBSL, IRC, and the SEC, together with relevant guidelines, provide a framework for financial institutions in Sri Lanka when they are planning to use cloud services. Key legislation and guidelines include the following:

• Outsourcing of Business Operations of a Licensed Commercial Bank and Licensed Specialized Bank, Direction No. 02 of 2012 (Outsourcing Directive for Banks)
• Finance Business Act Directions - Outsourcing of Business Operations No. 7 of 2018 (Outsourcing Directions for Finance Companies)
• Banking Act, No. 30 of 1988
• Finance Business Act, No. 42 of 2011

The above framework covers a variety of contractual and operational areas, including due diligence, risk management, business continuity, and monitoring any oversight.

Customers that have questions about the applicable regulations, and how these may apply to their use of AWS services, can reach out to their account representative or contact us.

Regulations are changing rapidly in this space, and AWS is working to help customers proactively respond to new rules and guidelines. AWS encourages its financial institutions customers to obtain appropriate advice on their compliance with all regulatory and legal requirements that are relevant to their business, including other local regulations, guidelines and laws.

8. How about Configurations Servers? | How about the securities of your servers? | How is the downtime? Do you get 99.99% Uptime Guarantee?

All functionality is done in accordance with international standards powered by an AWS EC2 system. (See Annexure 02 for more details)

Features of Amazon EC2 | Amazon EC2 provides the following features:

• Virtual computing environments, known as instances
• Preconfigured templates for your instances, known as Amazon Machine Images (AMIs), that package the bits you need for your server (including the operating system and additional software)
• Various configurations of CPU, memory, storage, and networking capacity for your instances, known as instance types
• Secure login information for your instances using key pairs (AWS stores the public key, and you store the private key in a secure place)
• Storage volumes for temporary data that's deleted when you stop, hibernate, or terminate your instance, known as instance store volumes
• Persistent storage volumes for your data using Amazon Elastic Block Store (Amazon EBS), known as Amazon EBS volumes
• Multiple physical locations for your resources, such as instances and Amazon EBS volumes, known as Regions and Availability Zones
• A firewall that enables you to specify the protocols, ports, and source IP ranges that can reach your instances using security groups
• Static IPv4 addresses for dynamic cloud computing, known as Elastic IP addresses
• Metadata, known as tags, that you can create and assign to your Amazon EC2 resources
• Virtual networks you can create that are logically isolated from the rest of the AWS Cloud, and that you can optionally connect to your own network, known as virtual private clouds (VPCs)

9. How are your backups?

Automatically, as well as Manually You can download the latest file at any time

Benefits

Centrally manage backups

Configure backup policies from a central backup console, simplifying backup management and making it easy to ensure that your application data across AWS services is backed up and protected. Use AWS Backup’s central console, APIs, or command line interface to back up, restore, and set backup retention policies across AWS services.

Automate backup processes

Save time and money with AWS Backup’s fully managed, policy-based solution. AWS Backup provides automated backup schedules, retention management, and lifecycle management, removing the need for custom scripts and manual processes. With AWS Backup, you can apply backup policies to your AWS resources by simply tagging them, making it easy to implement your backup strategy across all your AWS resources and ensuring that all your application data is appropriately backed up.

Improve backup compliance

Enforce your backup policies, encrypt your backups, protect your backups from manual deletion and prevent changes to your backup lifecycle settings, and audit and report on backup activity from a centralized console to help meet your backup compliance requirements. Backup policies make it simple to align your backup strategy with your internal or regulatory requirements. AWS Backup secures your backups by encrypting your data in transit and at rest. Consolidated backup activity logs across AWS services make it easier to perform compliance audits. AWS Backup is PCI and ISO compliant as well as HIPAA eligible.

AWS Backup features

Use AWS Backup to centralize and automate data protection across AWS services and hybrid workloads. AWS Backup offers a cost-effective, fully managed, policy-based service that further simplifies data protection at scale. AWS Backup also helps you support your regulatory compliance or business policies for data protection. Together with AWS Organizations, you can use AWS Backup to centrally deploy data protection policies to configure, manage, and govern your backup activity across your company’s AWS accounts and resources. Supported resources include:

• Amazon Elastic Compute Cloud (Amazon EC2) instances
• Windows Volume Shadow Copy Service (VSS) supported applications (including Windows Server, Microsoft SQL Server, and Microsoft Exchange Server) on Amazon EC2
• Amazon Elastic Block Store (Amazon EBS) volumes
• Amazon Simple Storage Service (Amazon S3) buckets
• Amazon Relational Database Service (Amazon RDS) databases (including Amazon Aurora clusters)
• Amazon DynamoDB tables
• Amazon Neptune databases
• Amazon DocumentDB (with MongoDB compatibility) databases
• Amazon Elastic File System (Amazon EFS) file systems
• Amazon FSx for NetApp ONTAP file systems
• Amazon FSx for Lustre file systems
• Amazon FSx for Windows File Server file systems
• Amazon FSx for OpenZFS file systems
• AWS Storage Gateway volumes
• VMware workloads on premises, on Amazon Outposts, and in VMware CloudTM on AWS

10. How is your support service?

You can contact us anytime by email, phone calls.

12. Do you get paid when you submit a support ticket?

No way. After Service is completely free.

13. I don't want to hear more stories. So how do we get HELA-X 0.1... What is your number and site exactly?

Then find out the details now...
Send us an email... hello@udbcorp.app
Or WhatsApp +94 70 770 9090 Or call +94 11 770 9090

14. One more small thing, will you add more UPDATES and Features? If so, Will there be additional charges?

Absolutely! That's what HELA-X 0.1 is, our hope is to add a lot of new features to make this app a perfect solution! Essential updates and essential features are provided free of charge. In addition, we hope to introduce an opportunity to purchase many unique features for our exclusive customers.