With regulatory compliance pressures mounting in Singapore and Asia, SAI Global bolsters regional presence with new office to extend its risk and compliance expertise to the region
SAI Global, a leading provider of integrated risk management (IRM) solutions, today announces it has strengthened its Asia Pacific presence with the opening of a new Singapore office. The move comes as the company looks to bolster support for organizations in the country and the region in light of recent unprecedented regulatory transformation as well as the increased regional focus on cyber risks, protection of personal data and supply chain risk programs.
Singapore's economy grew by 3.5 per cent in 2017. With this growth the country has seen the regulatory landscape for the financial services industry rapidly evolve with the likes of regulations such as the Monetary Authority of Singapore (MAS) Technology Risk Management Guidelines, Outsource Guidelines and the recent MAS directive to tighten the customer verification process under the Personal Data Protection Act. Organizationally these institutions are having to ramp up and bring in new capabilities to prepare themselves to understand these new regulations and then to deploy technical and operational solutions to meet them.
"With market factors in mind, we have been investing heavily in our Asian presence and I’m delighted that we recently added industry veteran Patrick Lim to our Singapore-based team, as he is such a highly-experienced risk and compliance expert. With the local team now further strengthened we will be able to help the regions financial institutions and organizations gain better control over their risk and compliance landscape with our rapidly deployable IRM software and eLearning solutions."
"There’s never been a situation in the financial services sector in Singapore where organizations and institutions have been so close to the cutting edge of regulation. But in the past two to three years alone the sector has had to adjust to new and continuously changing regulatory realities, battling a myriad of challenges and trying to find ways to advance confidently in this new regulatory landscape."
Rob van Straten
Executive Vice President EMEA and APAC
For more information or to get in contact with a SAI Global representative in your region contact [email protected].