CelerityX, the enterprise networking solutions business of OneOTT Intertainment Ltd. (OIL), a subsidiary of Hinduja Global Solutions Limited, announced the launch of OneX – a unified network-as-a-service solution covering network management, security, and LAN-side control solution, today.
The company also announced deployment of OneX to tackle the connectivity challenges faced by cooperative credit societies in Maharashtra. In strategic partnership with Maharashtra State Cooperative Credit Societies Federation (MAFCOCS), CelerityX aims to ensure secure and high uptime banking connectivity for over 40,000 branches in the state, with the potential to serve over 100,000 branches nationwide.
Connectivity issue is a major issue in the banking sector, especially in Tier 2 and 3 cities, where outdated systems fail to provide security against modern threats. OneX facilitates a paradigm shift- simplifying complexity with agility and security and its ability to leverage multiple WAN technologies, including mobile SIM, ensures high uptime, zero trust-based networks, and security across all locations.
The alliance shall benefit cooperative credit societies in Maharashtra who are a part of MAFCOCS, streamlining connectivity by leveraging broadband and mobile SIM with firewalls and zero-radius perimeter security solutions to ensure security and uptime. The costing of OneX has been planned in such a way that it will benefit even the smallest of credit societies, who can avail of this essential service to prevent cyberattacks on their network infrastructure.
Earlier, VAMNICOM in its study report on cooperative banks to NCUI had suggested that cooperative banks must collaborate closely with technology and knowledge based businesses. This partnership seems in line with the recommendations made by VAMNICOM.
CelerityX has already received its first order from Samta Sahakari Patasanstha for its branches in Maharashtra while discussions with others are underway.
“Maharashtra has over 16,000 credit societies. These credit societies are increasingly becoming significant in their size and impact compared to cooperative and national banks. Many of them, in fact, have stronger assets under management (AUM) and financials than larger banks. This growth in assets also brings the responsibility of ensuring technology modernization for these credit societies to serve their customers better.”, said Om Prakash Dadaapa, President of MAFCOCS.
He further added, “while this technology transformation brings convenience to customers, it also exposes the credit societies’ infrastructure to cybersecurity threats and network intrusions. OneX addresses these challenges seamlessly – providing a Unified Threat Management Solution including network, firewall and endpoint security to all credit societies.”
“With OneX, we are democratising banking connectivity for cooperative credit societies. This partnership with MAFCOCS is a major step towards promoting financial inclusion and driving growth in the rural sector and we have our sights on expanding into other states facing similar challenges”, said Sameer Kanse, Chief Business Officer of CelerityX.
With its robust infrastructure and scalable technology, OneX has the potential to connect over 100,000 branches across India. This empowers financial inclusion and equips banks with the network security needed to thrive in the digital age.
