Stone Forest IT now ABS OSPAR-certified to serve financial institutions
For Immediate Release
SINGAPORE: 28 February 2019 ─ Stone Forest IT (SFIT) is now ABS OSPAR-certified, taking a place in the coveted Outsourced Service Provider (OSP) registry of the Association of Banks in Singapore (ABS).
As financial institutions digitise and outsource critical business functions, protecting their customers’ confidential data, preventing disruptions to critical services, and safeguarding against cyberthreats have never been more important. These requirements demand that their outsourced partners have in place security and control measures to ensure that confidential data is managed to the highest standards.
In June 2015, the ABS issued a set of guidelines for which OSPs are to be audited against annually in accordance with the Singapore Standard on Assurance Engagements 3000 (Revised) for assurance engagements other than audits or reviews of historical financial information.
This certification strengthens SFIT’s credibility as an outsourced partner and reassures customers across verticals, including financial institutions, of the integrity of the company’s internal controls and the operational capabilities of its IT services.
“IT now plays a critical part in the success of every business but many lack the technical and specialised competence. SFIT works closely with clients to manage their backend IT infrastructure and frontend application systems without sacrificing governance and most importantly, control,” said Eileen Tan, Executive Director of Stone Forest IT. “With this attestation, we can continue to deliver on our promise as a trusted and reliable technology business partner. Our clients can confidently work with us knowing that our IT infrastructure and services stand up to the rigorous requirements of the Monetary Authority of Singapore and comply with the latest ABS outsourcing guidelines.”
Read more about the OSPAR