Saxo Bank First to Earn Cloud Security Alliance STAR Level 2
Saxo Bank, the online trading and investment specialist, today announced it is the first licensed bank and financial institution in the world to receive the Cloud Security Alliance (CSA) Security, Trust & Assurance Registry (STAR) Level 2 Attestation and Trusted Cloud Provider accreditation.
This milestone in the bank’s technology aspirations means Saxo Bank qualifies for and adheres to the highest and most comprehensive principles in terms of transparency, privacy, security and harmonisation of standards across its IT systems, services and infrastructure that supports the business and different client segments from back-office systems to open APIs. The CSA STAR Level 2 attestation is verified and validated by a third-party auditor.
The admission to the CSA and STAR Level 2 attestation demonstrates Saxo’s commitment to holistic security and is set to further accelerate the bank’s growth as a capital markets solutions provider for partners looking to run their investment infrastructure as a Service.
This enhances transparency and trust, as well as further reducing the complexity and need for Saxo Bank’s new and existing partners to engage in multiple questionnaire forms and due diligence processes.
More than 120 banks and brokers along with 300 financial intermediaries are powered by Saxo Bank’s platforms and technology.
Søren Kyhl, COO & Deputy CEO, commented: “We are proud to be the first bank to earn a CSA Star Level 2. This is an important acknowledgment of the strength, power, and security of our business model which is built on digital-first – and we are well into an ambitious journey to deliver all our digital services from the cloud, based on a micro services infrastructure providing us with the ability to launch new features much faster and more securely. The benefit is a shorter time to market, more robust infrastructure, and a much more agile, scalable, and flexible platform. As the first bank with a CSA Star Level 2 and Trusted Cloud Provider accreditation, we continue to raise the bar in the financial industry in terms of transparency, trust and security – and this important attestation will further fuel our growth as we continue to service more clients and partners across global markets.”
The Cloud Security Alliance (CSA) is the world’s leading organisation dedicated to defining and raising awareness of best practices to help ensure a secure cloud computing environment. CSA harnesses the subject matter expertise of industry practitioners, associations, governments, and its corporate and individual members to offer cloud security-specific research, education, certification, events, and products. CSA’s activities, knowledge and extensive network benefit the entire community impacted by cloud — from providers and customers to governments, entrepreneurs, and the assurance industry — and provide a forum through which diverse parties can work together to create and maintain a trusted cloud ecosystem.
About the STAR
The Security, Trust, Assurance, and Risk (STAR) Registry is a publicly accessible registry that documents the security and privacy controls provided by popular cloud computing offerings. STAR encompasses the key principles of transparency, rigorous auditing, and harmonisation of standards outlined in the Cloud Controls Matrix (CCM) and CAIQ. Publishing to the registry allows organisations to show current and potential customers their security and compliance posture, including the regulations, standards, and frameworks they adhere to.
Saxo Bank has implemented controls to address the security, availability, confidentiality, and privacy Trust Services Principles as well as the control specifications included in the Cloud Security Alliance (CSA) Cloud Controls Matrix (CCM) across our on-premise and cloud environments.