MYRIAD and AlfaSec in network management partnership
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MYRIAD and AlfaSec in network management partnership 16 June 2014Singapore Reporter: Catherine Van de Stouwe
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MYRIAD Group Technologies and consultancy AlfaSec Advisors are teaming up to focus on bringing network management consulting and software solutions to clients in the Asia Pacific and Middle East regions.
Through the partnership, the firms will bring together technology solutions with a strong specialist consulting and advisory model to support entities as they align to industry standards and aim to reduce the inherent risks of operating global correspondent networks.
The partnership has created a coverage model that will allow clients to enhance the management of their in-house and third party agent networks. AlfaSec managing partner Giles Elliot said: “We are excited about bringing an integrated network management consulting and system solution to firms in Asia Pacific and the Middle East.”
“The growing level of regulatory focus on client money and asset protection is triggering a huge focus on the depth of risk and control policies embedded within asset and cash management firms, with more responsibility for effective management being placed on service providers.”
“Traditional approaches to managing agent networks frequently lack clear risk management frameworks or the tools to apply these consistently or transparently, something that becomes critical as international trade and investment flow activities grow.”
CEO of MYRIAD, Simon Shepherd, added that his firm is “delighted” to branch out into Asia Pacific with AlfaSec. He said the partnership will allow them to “combine the strength of [their] systems solutions with a highly focused approach to improving a firm’s policies and practices”.
AlfaSec was founded in 2013 in Singapore by former J.P. Morgan executive Roger Harrold and Giles Elliott, previously of Standard Chartered Bank, and has since built up a presence across Asia and the Middle East. MYRIAD provides network management, risk management and control systems.
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