ST Engineering has unveiled plans to broaden its digital and cybersecurity solutions, aiming to propel the digital transformation of financial services organizations, with an initial focus on those located in Southeast Asia and Australia. The solutions, integrating advanced technologies like AI, aim to meet the growing demand for cloud-based services and applications, as well as comprehensive cybersecurity solutions to fortify cyber resilience.
In a strategic move to support FinTechs and promote transformative technologies in financial services, ST Engineering is entering into collaboration with Elevandi, a non-profit organization established by the Monetary Authority of Singapore (MAS). The Memorandum of Understanding (MOU) signed at the Singapore FinTech Festival 2023 outlines joint efforts to support FinTech start-ups in developing innovative solutions, cybersecurity certification initiatives, training programs, research initiatives, and partnership programs fostering knowledge sharing. Additionally, the collaboration will explore joint research on sustainability solutions through ST Engineering’s corporate venture unit.
Pat Patel, Executive Director of Elevandi, expressed excitement about the collaboration, stating, “We are excited to collaborate with ST Engineering to advance FinTech in the digital economy and accelerate innovation. This partnership is timely as we continue to drive technology adoption and growth across Asia, Africa, Europe, and soon in Latin America. It adds significant value to our key audiences within the policy, finance, and tech communities, enhancing education, providing insights, and strengthening digital resilience.”
Tan Bin Ru, President for Enterprise (Digital) at ST Engineering, highlighted the commitment to advancing digital and cybersecurity solutions for financial services organizations, including digital banks. She stated, “Amidst growing adoption of digital financial services, we are committed to bringing ST Engineering’s national-grade digital and cybersecurity solutions and expertise to help financial services organizations strengthen their cybersecurity posture and develop next-generation technology capabilities.”
ST Engineering’s showcase at the Singapore FinTech Festival 2023 features cloud management solutions, applications of Generative AI, 5G, and quantum-secure network capabilities for business-critical connectivity. Visitors to ST Engineering’s booth (3G11) have the opportunity to explore end-to-end cybersecurity solutions, including cross-domain cybersecurity solutions, high-performance IP encryptors, and Security Operation Centres (SOCs) capabilities for monitoring and responding to cyber threats. The focus encompasses supply chain cybersecurity monitoring, cloud investigation, and response automation.