ST Engineering, Elevandi to Boost Digital, Cybersecurity Services for Financial Firms

Singaporean multinational company ST Engineering has announced plans to expand its digital and cybersecurity services, focusing on financial services organisations in Southeast Asia and Australia.

The initiative aims to support these organisations in their digital transformation by integrating advanced technologies like AI, enhancing cloud-based services, and providing comprehensive cybersecurity solutions.

A notable aspect of this expansion is ST Engineering’s collaboration with Elevandi, a non-profit set up by the Monetary Authority of Singapore. The partnership, formalised through a Memorandum of Understanding signed at the Singapore Fintech Festival 2023, is geared towards supporting fintech startups, promoting cybersecurity education, and conducting joint research in sustainability with ST Engineering’s corporate venture unit.

Pat Patel

Pat Patel, Executive Director of Elevandi, commented on the partnership’s role in fostering technology adoption and innovation across various regions.

“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,”

said Pat.

Tan Bin Ru

Tan Bin Ru, President for Enterprise (Digital) at ST Engineering, highlighted the collaboration’s focus on innovative solutions for combating financial crime.

“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 organisations, including digital banks, strengthen their cybersecurity posture and develop next-generation technology capabilities,”

she went on.

At the Singapore Fintech Festival 2023, ST Engineering is showcasing its latest developments in cloud management, Generative AI, 5G, and quantum secure network technologies. The exhibition also includes a display of their end-to-end cybersecurity solutions and the capabilities of their Security Operation Centres in addressing cyber threats.