Friday Nov 15, 2024
Friday Nov 15, 2024
Tuesday, 14 February 2012 00:03 - - {{hitsCtrl.values.hits}}
Epic Lanka announced that they have successfully implemented the Epic Terminal Line Encryption project covering major Sri Lankan commercial banks. This is a pioneering project to combat credit card related frauds and the challenges faced from inception to roll out were tremendous said Viraj Mudalige, Director/General Manager of Epic Lanka. Being the chief architect of this solution he said that the support they received from all the stakeholders in the payment card industry including the regulatory authorities enabled them to achieve this success.
Epic Lanka designed the solution few years ago as one of the R&D initiatives of the company. At laboratory level the solution received attention as it won the National Best Quality Software Award in 2009 under the Research and Development category. A parallel awareness creation program was also implemented by the company to educate the decision makers in the financial services industry, policy making and regulatory authorities. Epic conducted technical symposiums and live demonstrations to highlight the potential threats and the ability of their solution to combat the threats. Epic also made an irresistible and unconditional offer to major banks to use the solution on trial basis.
Increasing number of payment card related frauds, losses incurred by banks and the deteriorating public confidence prompted the regulatory authorities to take preventive action.
In 2011, the Central Bank of Sri Lanka mandated terminal line encryption to safeguard the interests of all the stakeholders of the payment card industry and by that time the company had well positioned EPIC TLE as a trusted and a proven solution that has been developed to meet the stringent standards of all major card operators.
Our extensive interaction with various user groups, regulators and hardware solutions suppliers facilitated our efforts of offering a state of the art solution that also can meet the local conditions and infrastructure constraints, Viraj Mudalige added.
The company has a team of qualified and experienced maintenance engineers dedicated to provide on-site technical support throughout the day, 365 days a year which is an added advantage to our prestigious clients as they trusted a world class solution of a local company, he said. Epic TLE was adjudged as the best security solution at the National Best Quality software Awards 2011 and was also nominated for Asia Pacific ICT Awards.
Epic Lanka has won an unprecedented number of 46 national and international accolades for the past 4 years and currently has operations in Malaysia as well.
