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AEG NewsletterFirst Quarter - 2022 | Issue #17 |
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“2022 is a promising year with many triumphs to come, challenges to overcome, and milestones to come to”
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Word from the CEO
With the pandemic almost coming to an end, we are now able to meet more frequently with our clients in person, organize onsite events, attend financial community conferences; a step that has been long waited for. We are currently preparing for visits and roadshows in a number of countries in the region, which allows us to communicate with our customers more closely and stay updated with their emerging needs and challenges, especially after the pandemic, which has redefined the realm of business and introduced new needs. Moreover, we give high priority for security and compliance as we are aware of the weight of those matters and the repercussions of their lacking. In order to provide the best to our clients, we have joined our efforts with Secure Business Solutions (SBS), our new partner, in order to cater for security needs at a higher level and offer a more dedicated division for security projects. As to our inhouse products, we are receiving great interest in AEG MT-ISO Converter and AEG Payment Control and Monitoring applications; we’ve started implementation and testing at a number of banks in the region. Further, we are in the course of enhancing existing applications and developing new ones addressing payment security, tracking, monitoring, reporting, etc. We can confidently say that 2022 is a promising year with many triumphs to come, challenges to overcome, and milestones to come to.
Dr. Mohamed Sadek – CEO and General Manager Our CSP 2022 Services Being in compliance with the latest SWIFT CSP releases reflects your security posture and your reliability in front of your correspondents. This has to do with the reputation of your organization which can enormously affect your business as a whole. How can we help you?SWIFT CSP PREASSESSMENTAEG will undertake a gap assessment covering your SWIFT environment, processes, controls and governance against the SWIFT CSP v2022. By understanding your architectural type and applicability to your operating environment, AEG can determine your security posture and develop a compliance plan based what is needed to meet the CSP v2022 requirements. REMEDIATION SERVICES1. Undertake Cyber Security repair programs to close gaps 2. Select and deploy state-of-the-art security tools from our international partners 3. Assess and advocate a range of cyber tools Having identified your security posture including gaps against CSP v2022, we provide our recommended services to align your operating environment with compliance objectives, or in other words, we assist you to fill the gaps. Moreover, we provide an independent assessment to accompany your self-assessment that meets CSP v2022’s requirements. SWIFT CSP AUDIT AND ATTESTATION SERVICESAEG can prepare you to perform an attestation examination aligned with the compliance criteria of the SWIFT CSCF. CSCF Timeline
For more information, contact your account manager here SWIFT Directory link: https://www.swift.com/myswift/customer-security-programme-csp_/community-engagement/assessment-providers-directory Payment Control and Monitoring
AEG introduces an application that answers the banks’ need for transaction control and monitoring. AEG Payment Control and Monitoring Application is designed to monitor intelligently the transactional activities at the bank internal environments. This solution helps identifying and blocking high risk transactions in case any fraudulent activity is detected. AEG Payment Control and Monitoring Application is a comprehensive solution that allows the bank to detect possible fraud actions, to monitor and control transactions, to generate payment reports and to assure network to SWIFT system reconciliation. For more information, contact your account manager here Latest Products and Solutions Security AEG has been expanding its field of expertise in information security and cybersecurity domains in the quest of meeting the needs of its customers proactively, and to be ever ready to address the emerging risks and challenges.
SWIFT Message Tracking and Monitoring
The need to have real-time visibility over the SWIFT messages status and their location in the queues, the time spent in each queue and who was working on them, AEG is developing a new application that achieves message tracking and monitoring with a smart notification system in order to control and evaluate the performance of the users and process delayed messages. The application allows the user to view all message instances in real time from a specifically configured queue via a suitable friendly web user-interface. Further, the application monitors the observed SWIFT queues for any delayed messages that exceed the predefined allowed time, and collects information about the delayed messages before generating an email notification alert. This, in turn, allows the user to follow up more efficiently with the SWIFT and Compliance departments at the bank to resolve issues and facilitate faster processing. For more information, contact your account manager here Amman Roadshow 2022 AEG held a very successful roadshow in Amman, Jordan on the 28th of March 2022 discussing the latest requirements of security and compliance for years 2022 and 2023, and hosting representatives and management personnel of over 12 leading Jordanian banks.
The event opened with the keynote of AEG’s CEO, Dr. Mohamed Sadek, introducing state-of-the-art services that address the current concerns of the banking sector and the financial community in Jordan. The main focus of this event was to cover everything regarding MT to ISO 20022 conversion as it is going live this November.
Our team discussed the requirements of CSCF 2022 and 2023 in the quest of preparing our clients in Jordan to be secure and compliant with the help of AEG’s solutions. Moreover, the team presented and highlighted the competitive advantages and main features of some of the AEG inhouse applications such as: AEG gpi-PRO, SWIFT GO, AEG Smart-SMD, AEG EPS System and AEG MT-ISO Converter.
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In This Issue |
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01. Our CSP 2022 Services |
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02. Payment Control & Monitoring |
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03. Latest Products and Solutions |
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04. Amman Roadshow 2022 |
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“Bringing together certified professionals from numerous disciplines, AEG ensures that all areas of expertise you could possibly need are accounted for”
“AEG is always on the lookout for the latest needs, proactively addressing the requirements of the financial community”
“AEG addresses a mandated CSCF control with its inhouse-developed application PCM”
Announcements and Reminders ü CBPR+ transition period will start in November 2022 ü CSCF v2022 mandatory control 2.9 Transaction Business Controls is covered by AEG PCM application ü Coming up in-person events and roadshows are to be scheduled throughout the year.
Testimonial Nous vous remercions pour votre réactivité, la rapidité d’intervention et la disponibilité dont avez fait preuve durant ce test dénotant le respect de vos engagements envers AGB. – Gulf Bank Algérie
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I would like to take the opportunity to greet our Muslim
friends and wish them a blessed month of Ramadan and wish our Christian
friends a Happy Easter. It warms our hearts to know that people are finally
able to get together on holidays like before, after almost two years of social
distancing and lockdowns.
CSCF v2022 promotes control 2.9 (Transaction
Business Controls) to mandatory. It supports and aligns with other
regulations such as CPMI’s strategy which equally aims at reducing the risk
of payment fraud related to endpoint security.
For that very reason, AEG is collaborating with one of
the leading Information Security firms in the region, SBS (Secure Business
Solutions). This collaboration has widened our scope and added to our profile
a number of services that are of great interest to our clientele. This
collaboration is allowing us to offer compliance related services for COBIT
2019 and ISO 27001 frameworks, digital forensic and incident response
services (DFIR), SIEM as a service on-cloud security platform (SBS Hawk), distributed
certificate-based authentication with centralized management (SBS AccessPal),
and PCI DSS. 
AEG is currently in the course of developing a new tracking
and monitoring application that allows instantaneous outlook over message
status.
