SINGAPORE – Media OutReach – November 15, 2023 – ST Engineering to expand its digital and cybersecurity solutions to help financial services organizations advance their digital transformation and develop next-generation technology capabilities, focusing first on those based in Southeast Asia and Australia. These solutions build on the Group’s existing suite and leverage advanced technologies, including AI, to meet the growing demand for cloud-based services and applications, as well as end-to-end cybersecurity solutions that strengthen cyber resilience.
[L-R]: Sopnendu Mohanty, Chairman of the Board of Directors, Elevandi; Pat Patel, executive director, Elevandi; Tan Bin Ru, President Business (Digital), ST Engineering; and Cheryl Chan, Group Director of Strategy and Sustainability and President of New Ventures, ST Engineering.
![[L-R]: Sopnendu Mohanty, Chairman of the Board of Directors, Elevandi; Pat Patel, executive director, Elevandi; Tan Bin Ru, President Business (Digital), ST Engineering; and Cheryl Chan, Group Director of Strategy and Sustainability and President of New Ventures, ST Engineering.](https://www.times24h.com/wp-content/uploads/2023/11/ST-Engineering-Expands-Digital-and-Cybersecurity-Solutions-to-help-Financial.jpeg)
To support FinTech and drive the adoption of transformative technologies in financial services, ST Engineering will collaborate with Elevandi, a non-profit organization established by the Monetary Authority of Singapore (MAS). The Memorandum of Understanding (MOU) between ST Engineering and Elevandi was signed today during the Singapore FinTech Festival 2023. Under the MoU, the two companies will jointly support FinTech start-ups to create solutions innovative in the FinTech fields; collaborate on cybersecurity certification initiatives and offer training programs to cybersecurity startups; jointly engage in research initiatives and partnership programs to promote knowledge sharing; and explore joint research into sustainability solutions with ST Engineering’s venture capital unit.
“We are excited to collaborate with ST Engineering to advance FinTech in the digital economy and accelerate innovation,” said Pat Patel, Executive Director of Elevandi. This partnership is timely as we continue to drive technology adoption and growth in Asia, Africa, Europe and soon Latin America. It adds significant value to our key audiences in the policy, finance and technology communities, improving education, providing insights and building digital resilience.
“Our collaboration with Elevandi expands our focus on FinTech and provides opportunities to co-develop innovative solutions that leverage transformative technologies to combat fraud and financial crime,” said Tan Bin Ru, president of the company ( digital) at ST Engineering. “Amid growing adoption of digital financial services, we are committed to bringing ST Engineering’s national-level digital and cybersecurity solutions and expertise to help financial services organizations, including digital banks, strengthen their cybersecurity posture and develop next-generation technological capabilities.
Innovative digital and cybersecurity solutions for digital transformation
At the Singapore FinTech Festival 2023, ST Engineering is showcasing its latest cloud management solutions, generative AI applications, as well as 5G and quantum secure networking capabilities for business-critical connectivity.
Visitors to the ST Engineering stand (3G11) will also have the opportunity to explore the Group’s end-to-end cybersecurity solutions, including cross-domain cybersecurity solutions for secure data transfers and high-performance IP encryptors for secure endpoint isolation and network segregation. ST Engineering’s showcase includes its Security Operations Center (SOC) capabilities in monitoring and responding to cyber threats, such as supply chain cybersecurity monitoring, cloud forensics and automation of responses.
In the field of cybersecurity, ST Engineering is a leading player in the design, construction, operation and maintenance of SOCs for countries, critical information infrastructures and enterprises in Southeast Asia. Over the past decade, ST Engineering has delivered 22 SOCs and trained cybersecurity professionals from over 150 organizations.
For more information, visit
https://www.stengg.com/sff-2023
Hashtag: #STEEngineering
The issuer is solely responsible for the content of this announcement.
