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Castler, a leading escrow service provider in India, has launched a one-of-a-kind Source Code Escrow solution, “CastlerCode”. The first-of-its-kind offering in India provides a secure and efficient way for businesses to protect the intellectual property of their software and ensure business continuity.
CastlerCode has partnered with AWS, the leading cloud service provider and industry experts, to ensure the highest security, reliability, and compliance standards for its Source Code Escrow solution.
It leverages cutting-edge cloud technology to store and manage critical software and source code, ensuring access only to authorised parties during predefined trigger events.
By eliminating the need for physical storage and manual processes, the solution offers enhanced security, accessibility and scalability to meet the evolving needs of modern businesses.
Vineet Singh, Founder and CEO of Castler said the solution combines the convenience of cloud technology with the robust security and reliability that clients expect from Castler.
Source Code Escrow is one of the fastest growing categories globally at a CAGR of 20 per cent and is poised to reach $30 billion by 2030.
Recently, RBI made software escrow mandatory for all regulated entities and mandated that all non-bank payment system operators keep the custody of source codes in an escrow arrangement.
CastlerCode boasts of clients including public and private sector banks and NBFCs, which the RBI mandates to escrow critical applications. The solution is designed to cater to businesses of all sizes, from startups to large enterprises across various industries.
As businesses increasingly rely on software to drive their operations, the need for robust source code escrow solutions has never been greater across the globe and the company intents to build a world class SAAS product for the world from India, said Singh.
“With our cloud-based offering, we aim to provide a scalable and cost-effective solution that gives our clients peace of mind and helps them focus on their core business objectives,” he added.
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