CHT Security leads Taiwan’s cybersecurity industry with game-changing, AI-driven solutions that streamline incident response times and address a broad spectrum of emerging threats.

SAN ANTONIO, Nov. 5, 2024 /PRNewswire/ — Frost & Sullivan recently researched the cybersecurity services industry and, based on its findings, recognizes CHT Security with the 2024 Taiwan Company of the Year Award. CHT Security is Taiwan’s leading managed security service provider (MSSP), offering superior customer support and innovative AI-powered cybersecurity solutions that seamlessly protect businesses from the latest cyber threats.

CHT Security efficiently integrates AI and automation capabilities into its operations, dramatically reducing the time required to detect and mitigate cyber threats. Its services span multiple sectors, including critical infrastructure, healthcare, and finance, and its customer base includes over 300 large enterprises and nearly a million consumers. Additionally, the company’s solutions cover all stages of cybersecurity management, from pre-event detection, during-event monitoring and response to post-event digital forensics and recovery. This end-to-end approach, combined with its powerful Security Operations Center (SOC) and Managed Detection and Response (MDR) services, ensures that clients receive proactive and responsive protection tailored to their operational needs.

CHT Security also invests heavily in cultivating talent to meet the growing demands of the cybersecurity sector. The company encourages professional development by offering extensive training opportunities and helping employees obtain globally recognized certifications. Through collaborations with universities and ongoing internal training programs, CHT Security ensures it has a highly skilled team ready to tackle complex cybersecurity challenges. This strengthens its internal capabilities and enhances its customers’ experience.

“Frost & Sullivan acknowledges that CHT Security is well-positioned as a client-centric vanguard in Taiwan’s cybersecurity services market by merging its SOC with MDR services, capitalizing on AI and automation, and facilitating real-time incident response (IR) and threat detection. The company’s all-encompassing offerings meet diverse environments’ (including IT and OT) dynamic requirements and agilely respond to evolving cyber threats,” said Iqra Azam, best practices research analyst at Frost & Sullivan.

CHT Security is steadily growing in the Taiwanese market and offers first-class cybersecurity solutions to over 900,000 households and mobile subscribers, over 40,000 SMEs, and 300 large enterprises and government institutions.

The company implements a customer-first approach to ensure its solutions align with each client’s specific needs. CHT Security continuously improves its services by conducting tri-annual satisfaction surveys and closely reviewing feedback. This dedication to addressing customer pain points is reflected in its high retention rates, with over 90% of its clients choosing to continue their partnerships. Furthermore, CHT Security assigns dedicated project managers to each client to guarantee personalized service and rapid response times, enhancing its outstanding brand reputation and reliability.

“Frost & Sullivan opines that CHT Security’s exemplary customer service and steady talent cultivation reinforce its competitive advantage. The company delivers unique benefits and fosters solid stakeholder relationships by leveraging the voice of the customer and investing in skilled professionals,” noted Vivien Pua, senior industry analyst at Frost & Sullivan.

Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.

Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Contact:

Tarini Singh
P: +91- 9953764546
E: Tarini.Singh@frost.com 

About CHT Security

CHT Security (TWSE: 7765) is a specialized cybersecurity subsidiary of Chunghwa Telecom, the largest telco and ISP in Taiwan. Being the leading Managed Security Service Provider (MSSP) in Taiwan, CHT Security delivers comprehensive cyber security services. CHT Security provides telco-centric network security and comprehensive cyber security services to almost every segment, including government, critical infrastructure, finance, manufacturer, healthcare, enterprise and even consumer. For more details, visit our official website.

Contact:

Karen Chen
P: +886-2 23431628 ext. 8048
E: karenchen@chtsecurity.com

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BANGALORE, India, Nov. 5, 2024 /PRNewswire/ — Think41, a next-generation Generative AI (GenAI) services company, officially launches today with a bold mission: to harness AI’s transformative power to drive innovation, scale, and efficiency for enterprises worldwide. Founded by serial entrepreneurs and former Deloitte Managing Directors—Anshuman Singh, Harshit Singhal, Himanshu Varshney, and Sripathi Krishnan—who are also the visionary minds behind HashedIn (acquired by Deloitte LLP)—Think41 unites decades of expertise in cloud-native solutions and AI-driven transformations for Fortune 500 clients.

With the GenAI landscape evolving at unprecedented speed, Think41 is setting a new standard in enterprise software development and digital transformation. By embedding AI across workflows, Think41 empowers businesses to automate processes, optimize operations, and bring innovative ideas to market. Committed to delivering secure, high-quality, and scalable AI solutions, Think41 ensures each implementation is practical, sustainable, and cost-effective.

‘Born in GenAI’: Rethinking Software Development

As a company ‘Born in GenAI’, Think41 brings an inherently AI-centric mindset to reimagining the future of software and enterprise operations. This philosophy underpins every service and solution, from conversational AI for recruitment to fully optimized workflows in software engineering. By continuously innovating with AI at the core, Think41 drives remarkable gains in efficiency and productivity for its clients.

A key pillar of Think41’s approach is its Autopods—agile, AI-driven engineering pods that leverage Dev41 Platform, Think41’s proprietary AI platform. These Autopods operate with speed and precision, fast-tracking projects from concept to completion. By automating critical engineering tasks, Think41’s Autopods enable clients to reach the market faster, delivering high-impact results that set them apart in a competitive GenAI services landscape.

Rising Demand for Conversational AI and Process Automation

Think41 is seeing growing demand for conversational intelligence and business automation solutions. Organizations are increasingly seeking innovative ways to enhance customer experiences, streamline internal communications, and boost operational efficiency. “We’re witnessing a surge in interest for conversational AI use cases like AI-powered learning systems, sales support tools, and workplace automation,” said Himanshu Varshney, Co-Founder of Think41. “Enterprises want to automate and transform their standard processes, and we’re here to help them achieve substantial gains in efficiency and performance.”

With deep expertise in these areas, Think41 is well-positioned as a trusted partner for enterprises aiming to capitalize on the latest AI innovations.

A Future-Forward Vision: Driving Enterprise Innovation

As AI adoption accelerates across industries, companies are discovering its power to drive efficiency, innovation, and growth. Think41’s full-stack GenAI services equip enterprises to harness this technology, rapidly innovate, and stay competitive in the AI revolution.

About Think41

Think41 is a full-stack Generative AI services company dedicated to enterprise transformation through AI. Founded by a team of experienced industry leaders, Think41 focuses on helping organizations integrate AI to streamline operations, innovate at scale, and improve business processes. For more information, visit www.think41.com.

Contact:
Think41
Email: contact@think41.com 
Website: www.think41.com 

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Part of HSBC’s ASEAN Growth Fund, an accumulative commitment of over US$100 million to Funding Societies since its partnership established in 2022

SINGAPORE, Nov. 5, 2024 /PRNewswire/ — Funding Societies | Modalku (Funding Societies), the largest unified digital finance platform for micro, small and medium enterprises (MSMEs) in Southeast Asia today announced signing the third credit facility* with HSBC under its ASEAN Growth Fund. The overall transaction, an accumulative commitment of over US$100 million, also includes the two annual credit facilities extended to Funding Societies, reaffirms HSBC’s continued support for MSMEs through the platform since 2022.

This transaction, which is amongst HSBC’s largest asset-backed secured facilities extended to digital SME lenders in Southeast Asia, will further deepen and extend Funding Societies’ reach to providing credit access to underserved MSME segments in the region.

While the Asia-Pacific (APAC) region has grown its middle-class and gained tremendous traction in terms of increasing access to formal banking services and digitalising its commercial environment, the region still has a US$2.5 trillion credit access gap, making up over half of the global shortfall in small business financing[1]. To put into perspective, up to 99.9% of enterprises are MSMEs contributing to 35% to 69% of each country’s gross domestic product (GDP)[2].

Co-founder and Group CEO of Funding Societies, Kelvin Teo, said, “The continued support from a global bank such as HSBC is a testament to its commitment to support the development of digital platform businesses such as ours and MSMEs as we ride through a two-decade high interest rates impacting the global economy. This enables us to further explore scalable debt financing for growth and profitability, and bolster financial inclusion for the underbanked and underserved SMEs in the region.”

As part of its ASEAN Growth Fund strategy, this transaction underlines a scalable solution to allow and enable digital lenders like Funding Societies to raise additional equity capital and debt financing through different channels. Furthermore, HSBC will act as the structuring bank, lender, account bank, FX counterparty, facility and security agent in providing a scalable and pan-regional financing solution to support Funding Societies’ business expansion in the region.

Harish Venkatesan, Head of Corporates and Business Banking, HSBC Singapore, said, “As an early-starter and a leading MSME digital financing player in ASEAN, we are pleased to provide our third credit facility for Funding Societies, cumulatively in excess of US$100 million. This will enable us to continue supporting its efforts to provide financing support to micro, small and medium enterprises which will contribute to the building blocks of societies in the ASEAN region. We look forward to continuing support for Funding Societies as they grow their business and for the underlying MSMEs in the region through the HSBC ASEAN Growth Fund.”

The US$1 billion HSBC ASEAN Growth Fund was launched in March 2024 to enable Singapore-based digital platform businesses supporting e-commerce in the region to achieve economies of scale across multiple international markets, grow their asset portfolios, and advance along the corporate lifecycle. Together with the New Economy and Venture Debt Fund, HSBC Singapore offers a comprehensive suite of financing solutions for new economy businesses across different stages of growth[3].

This announcement comes at the heels of Funding Societies’ most recent strategic investments from Maybank in September.

Since its inception in 2015, Funding Societies has disbursed over US$4 billion in business financing, positively impacting more than 100,000 businesses across Singapore, Indonesia, Malaysia, Thailand, and Vietnam, as well as processed an annualised US$1.4 billion in payments GTV (gross transaction value) since its entry into payments in late 2022.

About Funding Societies | Modalku

Funding Societies | Modalku is the largest unified SME digital finance platform in Southeast Asia. It is licensed in Singapore, Indonesia, Thailand, registered in Malaysia, and operates in Vietnam. The FinTech company provides US$1 billion annually of business financing to small and medium-sized enterprises (SMEs). In recent years, it has made strategic milestones including its acquisition of regional digital payments platform CardUp and co-investment into Bank Index in Indonesia.

Funding Societies | Modalku is backed by SoftBank Vision Fund 2, Maybank, Khazanah Nasional Berhad, CGC Digital (the digital arm of the Credit Guarantee Corporation Malaysia Berhad), SBVA (previously SoftBank Ventures Asia), Peak XV Partners (previously Sequoia Capital India), Alpha JWC Ventures, SMBC Bank, BRI Ventures, VNG Corporation, Rapyd Ventures, Endeavor, EBDI, SGInnovative, Qualgro, and Golden Gate Ventures among others.

It has received accolades through the years including: Brands for Good (2019, 2023), Global SME Excellence Award, Global SME Finance Awards by IFC (2021-2023) Global Startup Awards (2020), MAS FinTech Award (2016, 2021), Singapore’s Fastest-Growing Companies 2024 (a list of 100 companies compiled by The Straits Times and Statista), High-Growth Companies in Asia-Pacific 2024 (a list of 500 companies compiled by the Financial Times and Statista) .

For more information, please visit: www.fundingsocieties.com

About The Hongkong and Shanghai Banking Corporation Limited

The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 60 countries and territories. With assets of US$2,975bn as of 30 June 2024, HSBC is one of the world’s largest banking and financial services organisations.

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SOURCE Funding Societies