Kakao Enterprise Corporation, led by CEO Lee Kyung-jin, has recently completed a safety test by the Financial Security Institute and has become a cloud service provider (CSP).
Entrusted to a safety test, the Financial Security Institute has financial companies go through the assessment before using a commercial cloud computing service.
Kakao Enterprise Corporation did a self-inspection and an on-site assessment of the Kakao Cloud in compliance with the regulations of the Financial Security Institute.
The Financial Security Institute’s CSP safety test is designed to support introducing a safe cloud computing service to financial enterprises, and the test features common required evaluation items, which Kakao Cloud has done.
With the completion of the CSP safety test, financial institutions can streamline procedures when adopting Kakao Cloud. For example, a financial company would adopt a cloud system for business use and may ask for respective data or compare security requirements. However, the CSP Safety Test Integrated Support System, provided by the Financial Security Institute, will simply receive the assessment data and quickly proceed with the security evaluation.
So, Kakao Cloud revealed its intention to make the most of the strengths of the CSP safety test and advance into the financial cloud market.
Cloud service providers that undergo the existing CSP safety evaluation receive evaluations only in a separate area designated to provide services to financial companies. In other words, they receive evaluations only in a limited service area, known as the ‘financial zone,’ specially prepared for providing services to financial companies. However, Kakao Enterprise has completed CSP safety evaluations for the entire area of Kakao Cloud, not limited to the ‘financial zone.’ This explanation indicates that Kakao Cloud provides the same security features to all customers using Kakao Cloud, ensuring a high level of security required by financial institutions.
Lee Jae-han, the head of the business division at Kakao Enterprise, stated, “Kakao Cloud has successfully completed the CSP safety evaluation by the Korea Financial Security Institute, laying the foundation to capture the financial cloud market.” He further emphasized, “Not only that, since the CSP safety evaluation for the entire cloud service area has been completed, Kakao Cloud will provide high-level security services equivalent to those required by financial institutions to all its customers.”
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