Tencent Cloud has joined other major cloud providers in achieving Singapore’s Multi-Tier Cloud Security Standard (MTCS SS) in a move that underscores its ambition to expand its footprint in Asia.
Launched in 2013, the MTCS SS drives cloud adoption across industries by providing clarity around the security provisions of cloud service providers. These include cloud governance, infrastructure security, operations management and cloud-specific information security, across three levels of security.
Tencent Cloud said it conforms to tier three of the MTCS SS, the most stringent tier designed for regulated organisations with more stringent security requirements. Industry-specific regulations may be applied in addition to these controls to address security risks and threats to sensitive and personal data on the cloud.
“The acquisition of the highest-level MTCS SS security standard demonstrates how Tencent Cloud continues to establish itself as one of the world’s leading industry players, having helped Tencent move from fifth to fourth place in the Asia-Pacific cloud vendor rankings through landmark projects and solutions,” said Poshu Yeung, vice-president of Tencent International Business Group.
“With the rapid cloud adoption globally, we are proud to receive this international security standard, which adds to our increasingly recognised and adopted cloud offerings in the region. It also emphasises our exceptional capability to host, handle and process highly confidential data, bringing confidence and peace of mind to our enterprise customers.”
Tencent is entering a market that is dominated by Amazon, Microsoft and Google, as well as emerging players such as Alibaba Cloud, which has been investing aggressively in the region with a growing datacentre footprint. In Singapore, all major cloud suppliers have attained MTCS SS certification for key cloud services.
For Tencent, which operates in 25 regions and 53 availability zones worldwide, the financial sector has been one of its key focus areas.
Singapore insurer NTUC Income, for example, is using Tencent’s facial recognition technology to facilitate know-your-customer (KYC) processes at its kiosks. Outside financial services, Malaysia’s U Mobile is using the same technology to win new customers and service existing customers.
According to Synergy Research, Google, Alibaba and Tencent are substantially outpacing overall market growth and are gaining market share globally. All three saw revenues increase by 50% or more year on year during the fourth quarter of 2019.