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Tata Communications Spearheads First Security Compliance Consortium to Address Monetary Authority of Singapore (MAS) Guidelines
SINGAPORE, October 29 /PRNewswire/ -- - Security Providers Join Forces to Deliver Consolidated Solution to Meet Latest IBTRM Requirements Tata Communications, a leading provider of the new world of communications, announced the launch of the first Security Compliance Consortium to simplify the process of meeting compliance needs for the banking and finance sector. This initiative follows the new Internet Banking and Technology Risk Management (IBRTM) guidelines released by the Monetary Authority of Singapore (MAS) in June 2008. The guidelines outline a set of best practices that mandate risk management processes and security controls for financial systems, including Internet banking. The new IBRTM guidelines offer expanded strategies to combat cyber threats and attacks, which include emerging cyber exploits. Additionally, MAS emphasizes the need for improved technology risk management enabled by strong network security infrastructure. The newly formed consortium will help banks with a suite of services that address all key IBTRM requirements, including consultancy services, project management, encryption and confidentiality, distributed denial of service (DDOS) attacks, forensics, source code review and data integrity. In order to comply with the guidelines set by MAS, banks and financial institutions will need to build a framework-based security and compliance program. Rather than going to multiple security vendors to meet compliance needs, banks can coordinate with the consortium to address the guidelines within an integrated framework. Tata Communications has partnered with leading security service providers including Arbor Networks, BoxSentry, Transition Systems, Shepard, TechBiz FRisMan and FMA to form a Security Compliance Consortium that is a single point of contact to help banks address the IBTRM guidelines. The Security Compliance Consortium enables an integrated, holistic approach to help banks achieve security compliance requirements. This initiative is an example of Tata Communications' agility, flexibility and innovation capabilities in addressing the needs of the market. "Tata Communications set out to develop a strong association with leading players in the Internet security and risk management arena to provide banks with the best possible service and solutions to meet the IBTRM guidelines with full consideration for ease, speed and the economics of deployment. We are pleased to announce that with the Security Compliance Consortium we have achieved this objective," said Vinod Kumar, President and Chief Operating Officer for Tata Communications. "This initiative not only ensures that financial institutions operate in a secure environment, it also provides them with a better strategy to manage business risk end to end." "We are confident that the Security Compliance Consortium led by Tata Communications will provide best in class solutions to solve key challenges faced by security and risk management compliance teams from the banks," Vinod Kumar continued. For further information on Tata Communications suite of managed security services or the Security Compliance Consortium visit http://www.tatacommunications.com/security/compliance08/ About Tata Communications Tata Communications, a member of the $62.5 billion Tata Group, is a leading global provider of a new world of communications. The emerging markets communications leader leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national and Indian enterprises, service providers and Indian consumers. Tata Communications' range of services include transmission, IP, converged voice, mobility, managed network connectivity, hosting and storage, managed security, managed collaboration and business transformation for global enterprises and service providers, as well as Internet, retail broadband and content services for Indian consumers. The Tata Global Network encompasses one of the most advanced and largest submarine cable networks, a Tier-1 IP network, with connectivity to more than 200 countries across 300 Pops, and more than 1 million square feet of data center and co-location facilities. Tata Communications' unique emerging market depth and breadth of reach includes a national fiber backbone network and access to network in over 60 cities and 125 Pops in India, strategic investments in South African converged services operator, Neotel, Sri Lanka and Nepal and, subject to fulfillment of conditions precedent, a 50% ownership in China Enterprise Communications (CEC) providing full country VPN coverage in China. Servicing customers from its offices in over 80 cities in 40 countries, Tata Communications is the number one global international wholesale voice operator and number one provider of international long distance, enterprise data and Internet services in India, the Company was named "Best Wholesale Carrier" at the World Communications Awards in 2006, "Best Pan-Asian Wholesale Provider" at the 2006 and 2007 Capacity Magazine Global Wholesale Telecommunications Awards and was awarded "Best Progress in Emerging Markets" at the 2008 Mobile Communication Awards. Tata Communications Limited is listed on the Bombay Stock Exchange and the National Stock Exchange of India and its ADRs are listed on the New York Stock Exchange. (NYSE: TCL) For more information on Tata Communications' MSS offering visit: http://www.tatacommunications.com/enterprise/security For related information please visit: Tata Communications and Arbor Networks Receive 2008 Telephony Innovation Award for Most Innovative Managed Service (http://www.tatacommunications.com/news/release-view.asp?d=20081001- telephony) Tata Communications Receives ISO 27001 Certification for Managed Security Services (http://www.tatacommunications.com/news/release- view.asp?d=20080812-iso20071) (Due to the length of these URL's, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field. Remove the space if one exists.) Tata Communications Awarded Cisco(R) Powered Managed Security and Managed Connectivity Designations (http://www.tatacommunications.com/news/release-view.asp?d=20080910 -cisco) (Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field. Remove the space if one exists.) About MAS http://www.mas.gov.sg/about_us/About_MAS.html About the IBRTM guidelines The IBRTM guidelines -can be found at: http://www.mas.gov.sg/legislation_guidelines/banks/guidelines/Internet_Bankin g_Technology_Risk_Management_Guidelines.html (Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field. Remove the space if one exists.) The guidelines stress that banks offering or delivering products and services via the Internet or telecommunications networks, both wired and wirelesses are required to adhere to the following guidelines: - Establish a sound and robust technology risk management process - Enhance the availability, security and recovery capability of their systems - Deploy strong cryptography to protect the integrity of customers data transactions Additionally, banks are required to incorporate these guidelines into supervisory expectations for the purpose of assessing the adequacy of technology risk controls and security measures adopted by financial institutions. Forward-looking and cautionary statements Certain words and statements in this release concerning Tata Communications and its prospects, and other statements, including those relating to Tata Communications' expected financial position, business strategy, the future development of Tata Communications' operations, and the general economy in India, are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, including financial, regulatory and environmental, as well as those relating to industry growth and trend projections, which may cause actual results, performance or achievements of Tata Communications, or industry results, to differ materially from those expressed or implied by such forward-looking statements. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, failure to increase the volume of traffic on Tata Communications' network; failure to develop new products and services that meet customer demands and generate acceptable margins; failure to successfully complete commercial testing of new technology and information systems to support new products and services, including voice transmission services; failure to stabilize or reduce the rate of price compression on certain of the company's communications services; failure to integrate strategic acquisitions and changes in government policies or regulations of India and, in particular, changes relating to the administration of Tata Communications' industry; and, in general, the economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Tata Communications' control, include, but are not limited to, those risk factors discussed in Tata Communications' various filings with the United States Securities and Exchange Commission. These filings are available at http://www.sec.gov. Tata Communications is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements. *Disclaimer: Monetary Authority of Singapore (MAS) is not affiliated with nor has it endorsed Tata Communications or the Security Compliance Consortium in respect of the services or reference on this page Media Contacts: Celine Gregoire Tata Communications +1-617-969-0066 celine.gregoire@tatacommunications.com Janice Goveas Tata Communications +91-92233-94575 janice.goveas@tatacommunications.com Media Agency STC Associates +65-6222-5700 vetriveal@stcassociates.com
