The Association of Banks in Singapore (ABS) has established the Guidelines on Control Objectives and Procedures for Outsourced Service Providers since 2015 to help FIs to assess whether their service providers maintain the same level of governance over entity-level controls, general IT controls, and service controls as if the FIs managed the services on their own. The ABS guidelines recommend that Singapore FIs select OSPAR Audited Outsourced Service Providers.

Alibaba Cloud has engaged with the ABS approved auditors to perform an OSPAR audit over the control objectives set out in the guidelines, and it has confirmed full compliance.

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