South Korea Eases Network Separation Rules for Financial SaaS
South Korea’s Financial Services Commission (FSC) has relaxed network separation rules for financial institutions, allowing them to use cloud-based SaaS for administrative and back-office functions without going through the regulatory sandbox. However, the exemption does not apply to SaaS tools handling personal identification or credit information, which still require regulatory approval. The FSC also introduced stricter security requirements for SaaS usage.
Topics: Cloud Computing Data Security Financial Regulation Network Separation Rules SaaS