CPS 230, or Prudential Standard CPS 230 Operational Risk Management, is a regulatory framework introduced by the Australian Prudential Regulation Authority (APRA) to strengthen operational risk management, business continuity, and third-party risk management for APRA-regulated entities. It requires these entities to enhance their operational resilience by focusing on risk management, business continuity planning, and third-party risk management. It came into effect on 1 July 2025 and aims to improve the overall resilience of the financial and insurance sectors.
SmartStream is actively supporting its clients in meeting CPS 230 requirements by strengthening operational resilience, enhancing third-party risk oversight, and aligning with APRA’s expectations. Building on CPS231 and global compliance efforts, such as with the EU’s DORA, SmartStream leverages its industry certifications (ISO 27001:2022, PCI-DSS, SOC 1/2/3) and proven risk management practices to ensure continuity and compliance for its customers.