BT adopts the Association of Banks in Singapore (ABS) standards and controls for outsource service providers (OSPAR) for financial institutions

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BT LogoTo help customers address the regulatory requirements they face, BT has adopted the Association of Banks in Singapore (ABS) standards and controls for outsource service providers (OSPAR) for financial institutions, regulated by the Monetary Authority of Singapore (MAS).

This makes BT one of the first managed services providers to be issued the ‘OSPAR attestation’, confirming that its operational capabilities stand up to the rigorous requirements from ABS.

BT has more than 30 years’ experience of providing network-centric, mission-critical services for data, voice and hosting for the financial community, including banks, brokers, exchanges, investment managers, payment processors, hedge funds, financial application providers, CCPs and CSDs. This makes BT one of the few partners for financial institutions to work with to capitalise on this digital era, across the entire trade life cycle.

“Digital transformation is a priority for businesses. Customers and employees are more demanding. Ecosystems are evolving where established rules of business and economics are shifting rapidly. These changes are opening up new opportunities through transforming costs, improving customer experiences, making operational efficiencies and creating whole new business models,” said James Hennah, Managing Director, South East Asia, BT.

James added, “The issuance of OSPAR attestation to BT is a strong testimony to our credibility as it reassures financial institutions of our compliance to ABS Outsourcing Guidelines and maintains an equivalent level of governance, rigour and processes required by the MAS.”

BT works closely with its customers to develop a digital strategy and build a secure infrastructure that exploits cloud services for the benefit of their business without compromising security or regulatory requirements. Find out more about BT’s solutions for the financial services industry and its security solutions at https://www.globalservices.bt.com/seas/en/home.

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