SingleStore Completes 2024 South Korea CSP Safety Assessment

SingleStore has reached a major milestone by successfully completing the 2024 South Korea Cloud Service Providers (CSP) Safety Assessment Program, also known as the Regulation on Supervision of Electronic Financial Transactions (RSEFT) Audit Program. This achievement highlights SingleStore’s unwavering commitment to maintaining the highest security standards in cloud services. 

As Korean financial companies continue to make a rapid transition to the cloud, Korean financial authorities are upholding strict standards for risk management in cloud services.

The Financial Security Institute’s CSP safety assessment is designed to ensure the secure deployment of cloud computing services for financial institutions and enterprises. This rigorous assessment includes essential evaluation criteria such as security policies, procedures, encryption, governance, risk and compliance, and access control mechanisms. To certify adherence to these stringent standards, SingleStore underwent both a thorough self-inspection and a comprehensive on-site assessment of SingleStore Helios.

With this certification, financial institutions can more seamlessly integrate SingleStore into their operations. Compliance with the CSP safety assessment facilitates the adoption of SingleStore’s cloud services into financial institutions, streamlining the process and enhancing efficiency.

The assessment was led by Nishanth Singarapu, Associate Director of Governance, Risk, and Compliance (GRC) at SingleStore, in close collaboration with their South Korean partner, Agile Platform, particularly Director of Sales HanNim Kim. Their combined efforts ensured a thorough evaluation and the successful completion of the safety test.

“The successful completion of the CSP safety evaluation by the Korea Financial Security Institute positions SingleStore Helios to effectively enter the financial cloud market,” said Sanjay Aurora, APAC General Manager, SingleStore. ”This achievement not only reflects our dedication to security but also enhances our capability to serve financial institutions with confidence.”   

“The evaluation results from this FSI are very meaningful in that they have various and complex security levels,” said Han Jeong-hee, CEO of Agile Platform. “Cloud service providers that meet these standards will have very strong business opportunities.” 

The evaluation, which covers SingleStore’s entire range of cloud services, ensures that SingleStore Helios is equipped to deliver top-tier security, meeting the rigorous standards required by financial institutions.

“We are eager to leverage this achievement to strengthen our position in the financial cloud market and continue providing exceptional service to our valued clients,” said Aurora. ”This accomplishment is a testament to SingleStore’s commitment to providing secure, reliable cloud solutions. We look forward to building on this success and meeting the demanding needs of the financial sector with the support of our dedicated team and partners.”

To learn more about SingleStore certifications, visit the company’s Trust Center.