Wipro, L&T Infotech in Sebi Shortlist to Strengthen Surveillance Systems – CORPORATE ETHOS

Wipro, L&T Infotech in Sebi Shortlist to Strengthen Surveillance Systems

By: | November 12, 2018

Nov 12:  Technology majors of the likes of Wipro and L&T Infotech are among the list of companies shortlisted by the Securities and Exchange Board of India (Sebi), to build a private data storage cloud, automate its inspection of brokers and enhance analytics capabilities. The move by the regulator comes as part of its plan to stay prepared for a technological leap in surveillance and investigation activities.

Reports said the other companies that have made it to the shortlist include Accenture Solutions, Capgemini Technology Services India, Hewlett Packard Enterprises (India), EIT Services India and Tharavu Technologies.

Sebi has, in the meantime, shortlisted the bidders so as to take the process forward. It was during August this year that the markets regulator had called for expression of interests (EoIs) from companies who were keen on helping in the enhancement of analytical capabilities and setting up of private cloud to provide infrastructure, storage and computing capacity to different upcoming projects.

Reports added that the Sebi was also planning to bring in advanced software tools to help in its monitoring of mutual funds and for sharing of information with other regulators. It is being said that the private cloud on the regulator’s premises will makes sure that the operations go unhindered and effectively put in place a mechanism towards quick recovery in the event of disasters.

The company that is being selected from the shortlist will have as its mandate designing, implementing and supporting a big data solution with analytical capabilities, said the reports.