Financial Services

Outsourcing continues to be prevalent in today’s business landscape, particularly for the financial services. It is crucial for financial institutes to ensure that their outsourced service providers maintain the same level of governance, rigour and consistency.

Being one of the most established data center service providers in Asia, your outsourcing risks are well-managed. 1-Net’s data centers protect and connect the mission critical assets of global financial services companies, providing the peace of mind for the financial community.

1-Net North Data Center has achieved compliance with Singapore financial regulator’s (MAS) Technology Risk Management (TRM) Guidelines pre-requisites pertinent for financial services to meet physical security risk compliance on their IT network resiliency. In Singapore, any financial institution that is regulated by the MAS are advised to adopt TRM Guidelines that validates the data centers that they outsourced their IT Infrastructure.

As terrorism remains as a threat in most countries, it is wise to take measures to mitigate their effects on people and buildings. 1-Net North Data Center has adopted Ministry of Home Affairs’ Guidelines on Enhancing Building Security in Singapore (GEBSS) design planning guidelines.  This includes considerations on threats and potential scenarios to heighten building security to protect mission-critical data in our data center.

Engaging customers online is a necessity for every business today. Key banking and bill processing transactions are only a mobile app away, making both e-commerce transactions and the number of end points touching cardholder data prolific. Security in a data center protects cardholder data. The major financial institutions collaborated to define PCI DSS (Payment Card Industry Data Security Standards) with a minimum set of security measurements to prevent leak of sensitive identity and payment information.

Protecting the confidentiality, integrity, and availability of electronic cardholder data (CHD) is the essence of the PCI DSS standard. Any company that stores, transmits, or processes payment information must meet PCI DSS compliance. Since data centers typically store, transmit, or process e-commerce transactions, they must be PCI DSS compliant, whether in-house or outsourced.

Many financial services companies outsource their IT infrastructure to focus their in-house IT resources on their own end-user applications instead of the operating systems or hardware. 1-Net is able to provide an auditor opinion from an independent PCI DSS audit; this can drastically reduce the cost and complexity of PCI Self-Assessment Questionnaires and third-party PCI QSA audits if the company choose to do it in-house.