ST Engineering elevates financial services’ digital evolution with advanced cybersecurity solutions.
ST Engineering is set to broaden its array of digital and cybersecurity solutions, aiming to propel the digital transformation of financial service entities and fortify their next-gen technological capacities. The initial focus will be on Southeast Asia and Australia, where the company plans to roll out these solutions. They are an extension of the Group’s current suite, employing cutting-edge technologies such as AI to cater to the escalating demand for cloud-based services and applications. Additionally, they encompass comprehensive cybersecurity solutions geared towards enhancing cyber resilience.
In a bid to bolster the FinTech sector and promote the uptake of transformative technologies in financial services, ST Engineering has joined forces with Elevandi, a non-profit organization established by the Monetary Authority of Singapore (MAS). The signing of a Memorandum of Understanding (MOU) between ST Engineering and Elevandi at the Singapore FinTech Festival 2023 heralds this collaboration. The MOU outlines various joint initiatives: supporting FinTech startups to innovate within FinTech domains, collaborating on cybersecurity certification endeavors, offering training programs in cybersecurity for startups, engaging in research initiatives, fostering partnership programs for knowledge exchange, and exploring sustainability solutions through joint research with ST Engineering’s corporate venture unit.
Pat Patel, Executive Director of Elevandi, expressed enthusiasm about the collaboration, citing its significance in advancing FinTech in the digital economy and expediting innovation. The partnership is timely, aligning with their objective to drive technology adoption and growth across multiple continents. Patel emphasized the value this collaboration brings to key audiences within policy, finance, and tech communities, enhancing education, insights, and bolstering digital resilience.
Tan Bin Ru, President for Enterprise (Digital) at ST Engineering, highlighted the collaboration’s pivotal role in advancing FinTech and combatting financial crimes through innovative technological solutions. With the surge in digital financial services adoption, the company is committed to leveraging its high-grade digital and cybersecurity solutions to aid financial organizations, including digital banks, in fortifying their cybersecurity measures and cultivating advanced technology capabilities.
During the Singapore FinTech Festival 2023, ST Engineering is showcasing its newest offerings, including cloud management solutions, applications of Generative AI, and capabilities in 5G and quantum secure networking for critical business connectivity. Visitors to their booth will also have the opportunity to explore their end-to-end cybersecurity solutions, such as cross-domain cybersecurity solutions for secure data transfers, high-performance IP encryptors ensuring secure endpoint isolation, and network segregation. The exhibit highlights ST Engineering’s Security Operation Centers (SOCs) expertise in monitoring and responding to cyber threats, encompassing supply chain cybersecurity monitoring, cloud investigation, and response automation.
ST Engineering has established itself as a leading player in the cybersecurity realm, having designed, constructed, operated, and maintained 22 SOCs over the past decade. Their impact spans across nations, critical information infrastructure, and enterprises in Southeast Asia, with a track record of training cybersecurity professionals from more than 150 organizations.
In essence, ST Engineering’s strategic expansion into digital and cybersecurity realms, coupled with its collaboration with Elevandi, marks a significant stride in fostering technological innovation within financial services. With a commitment to advancing FinTech and enhancing cybersecurity measures, the company stands poised to empower organizations across Southeast Asia, Australia, and beyond. Through cutting-edge solutions showcased at events like the Singapore FinTech Festival, ST Engineering continues to reinforce its position as a trailblazer in the field, driving forward the evolution of secure, transformative, and resilient digital ecosystems for the financial landscape of tomorrow.