Last Updated on 11-01-2023
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.
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
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.
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.
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:
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.
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:
Automatically, as well as Manually You can download the latest file at any time
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:
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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.