The acquisition and implementation of a new system for digital transformation objectives by banks or financial institutes would involve:
- The selection of the appropriate financial service application for modernization needs
- The selection of an infrastructure platform to host and run the application with managed services
- The selected application and hosting environment will be secured and comply with every regulatory requirement.
Compliance is becoming a mandatory concern for banks and financial institutes, compliance departments need to take proper actions to ensure that applications, processes, and operations are securely run according to regulatory rules and guidelines to avoid challenges from the authorities, and to preserve the entities’ reputation and integrity.
Moreover, challenges to banks and financial institutes are often lacking of skilled resources on applications, cybersecurity, and regulatory compliance to oversee the implementation of an end-to-end system.
Hi Sun Fintech Global (HSG), in collaboration with OneAsia Network Limited (OneAsia) and Alpacian Limited (Alpacian), are pleased to introduce a unique three-in-one solution – “Integrated Compliance Solution” to the banks and financial institutes.
What Is the Integrated Compliance Solution?
The Integrated Compliance Solution is a three-in-one solution composed of a full spectrum of financial service applications with FinTech and RegTech elements to enable digital transformations, a secured infrastructure environment for hosting the applications with certified standards, managed services, and 7×24 security monitoring services. Last but not least, a pre-production compliance review on the application and infrastructure environment by professional security and compliance consultants to ensure that the new system will stand against regulatory compliance requirements with proper protection against cyber frauds and attacks.
The Security Operation Center (SOC)
One of the major highlights of the solution is the inclusion of 7×24 SOC monitoring services. The clients can rest assured the following essential functions for a regulated and secured IT operation will be achieved.
- Taking stock of available resources
- Preparation and preventive maintenance
- Continuous proactive monitoring
- Alert ranking and management
- Threat response
- Recovery and remediation
- Log management
- Root cause investigation
- Security refinement and improvement
- Compliance management
Moreover, the cyber security professionals conducting the pre-production review/assessment of the new system will also be involved during live-run in a tier-2 or tier-3 incident identified by the SOC, supporting communication with alerts analysis and recommending risk mitigation measures.
The Uniqueness of the Integrated Compliance Solution
There exist a few uniqueness of this Integrated Compliance Solution that we would like the audience to take away:
- 3-in-1 solution:
modern financial service applications
expert hosting, managed services, SOC, and
professional security and compliance consulting.
- Single Point of Responsibility:
The solution will be “primed” by one of the partners (Default HSG), hence enforcing one PMO governance and avoiding any ambiguity of responsibility.
- Best of domain expertise and knowledge:
HSG, OneAsia, and Alpacian are the best in their respective domains and very specialized. The audience would agree after reviewing their company profiles and client references.
- Skilled Resources
Another value of this solution is to enable clients to get away from the headache of organizing and maintaining expertise to implement and run such a project, in which case the upkeeping of three kinds of expert resources needed to implement and manipulated by the vendor.
The 3-in-1 solution streamlines three procurement and execution processes under one project management, project overheads will be saved, and the benefits will go back to the clients.
A technology company that specialises in banking software and system implementation, providing “turn-key” solutions and services for the financial services industry. We are one of the major subsidiaries of our corporation, Hi Sun Technology (China) Limited (HKEX: 0818.HK), a leading integrated solution provider for payment, finance and telecommunication in China, offering cutting-edge services and technological know-how to clients.
Established in 2009, OneAsia is a leading data center, cloud and connectivity solutions provider offering a full range of infrastructure, management, connectivity, 7 x 24 security operations and application services to businesses of all sizes in Asia. We integrate state-of-the-art, security compliance and green technologies into our digital infrastructure and service solutions to keep our customers well connected at any time and from anywhere.
Formed by security professionals from the major players in the industry for more than 10 years. Provide a set of reviews on security policies, procedures and process flow, with mapping industrial standards such as ISO/IEC 27001, NIST standards. The security consultants identify risk, related solutions and security improvements around the company area.
For an elaborated understanding of each of the partner companies, please access the below links: