Diasoft Demonstrates Its Commitment to Security of Banking Systems

Friday, May 26, 2017

Diasoft, the leading provider of modern software solutions for the global financial industry, announced that it has become a member of the Technical Standardization Committee No.122 supervised by the Bank of Russia and joined the Security and Technologies Committee of the Association "Russia". The company also takes active part in other important industrial initiatives associated with security of banking systems.

To ensure increased security of its Diasoft FA# and FLEXTERA software products, Diasoft made a strategic decision to join the "Financial (Banking) Operations Security" Subcommittee of the Technical Standardization Committee No.122 "Financial Operations Standards" governed by the deputy head of the General Directorate for Information Security and Data Protection of the Bank of Russia. Having become a member of the subcommittee, Diasoft gained access to the documents issued by this body and acquired the right to participate in development of national standards of financial operations and adaptation of existing international standards aimed at improvement of the security of the Russian financial services industry.

Another recent activity of Diasoft associated with IT security issues was participation of the company in the Security and Technologies Committee of the Association "Russia". Diasoft was able to accumulate relevant information and provide its customers with software products aimed at support of initiatives of the Association "Russia" in the area of technologies and security of banking business processes.

Besides these initiatives, Diasoft's specialists take active part in industry events that focus on the most important issues of protection of IT environments of banks and practical resolution of security issues.

Igor Legezin, Head of the IT Security Department at Diasoft, said, "We understand that overall security of baking systems in terms of rapidly evolving threats is getting more and more complex and expensive. That is why the company has developed a concept of protection of the most vulnerable points of banking business processes. We have created a Center of Excellence, which helps our customers to identify such points in their specific business processes and develop individual algorithms of use of IT security tools, including the tools created by Diasoft. We discuss security issues with our customers at respective technological committees, take active part in the leading industry events, use every opportunity to contribute into development of industrial concept,; and implement these concepts in our own products".

About Diasoft: Since 1991 Diasoft has been providing cutting-edge financial software solutions supporting all aspects of retail, wholesale and universal banking, financial market services, and insurance business. The company’s main offering to the financial market is FLEXTERA — a SOA-based universal system comprising a comprehensive suite of modules for front-to-back automation of modern financial services.

The FLEXTERA’s functional scope covers the following areas of financial business:

  • Back Office and Core Banking operations including daily banking transactions processing; product and service management; BI, accounting and reporting;
  • Multichannel Front Office operations and client management;
  • Middle Office risk management and decision making.

The modern technological principles lying at the core of all FLEXTERA solutions in combination with their broadest functionality provide our customers with limitless opportunities for their business development in accord with market trends and clients’ requirements.