Four top challenges financial services face this year: Applied Intelligence interview

AvantiKumar

How have you helped customers in Asia and what plans do you have to upscale and bring deeper value to customers here? What aspects about your services set you apart for your customers?

Six banks in Malaysia have deployed our compliance solution suite to manage AML obligations.

What sets us apart? It is the local expertise that we bring. Although we are a global company with experience from all around the world, we have compliance experts on the ground in Asia, ready to advise clients on local regulatory requirements and how they can be managed with our software solutions. We believe that in 2014, successful organisations will halt major attacks by joining up their understanding of cyber-attacks and fraud attacks.

The core tenet of our strategy in Asia is to broaden our portfolio through our existing customers. BAE Systems spends significant monies on research and development into the cyber threat and we are pleased that our customers across all critical national infrastructure industries can benefit from this. We have a strong footprint across the region, but still see plenty of opportunity for growth.

Looking ahead, what excites you about Asia and its various markets?

The various markets within Asia offer a huge opportunity for growth for a company like ours. Asia has seen significant growth in mobile and Internet usage over the past five years, which while it is great for the economy, has also created an unprecedented threat for the large organisations within it. We believe we have the expertise and products to mitigate this threat. What's more, the increasing trend of cyber collaboration between ASEAN members could provide the platform for further information and threat intelligence sharing. As a prominent supplier in the region, BAE Systems would welcome this move to raise the awareness of the cyber threat throughout South East Asia.

In addition, we are delighted to be a key sponsor of the 14th Defence Services Asia Conference and Exhibition in April 2014. The Applied Intelligence division of BAE Systems is focused on providing cyber security and financial crime prevention solutions to major businesses and government departments. As regulation evolves and awareness of the threats to organisations in Asia develops, we believe we have a great market opportunity to broaden our customer base. This will allow us to continue our strategy of hiring local people to create solutions that protect the largest businesses and government departments in their country.

 

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