In its bid to improve its resilience and
capacity, Fidelity Bank Plc has been awarded the ISO 22301 Business
Continuity Management System (BCMS) certified by the British Standard
institute (BSI). The process, which had been adopted by
the bank since August 2017, was applauded by the Central Bank of Nigeria
(CBN) as the bank had complied 13 months to the initial deadline.
capacity, Fidelity Bank Plc has been awarded the ISO 22301 Business
Continuity Management System (BCMS) certified by the British Standard
institute (BSI). The process, which had been adopted by
the bank since August 2017, was applauded by the Central Bank of Nigeria
(CBN) as the bank had complied 13 months to the initial deadline.
Speaking yesterday at the certificate
presentation at Fidelity Bank’s head office in Lagos, the MD/CEO
Fidelity Bank, Mr. Nnamdi Okonkwo said the certification would enhance
the safety and protection of the bank’s assets and customers’
investments, as well as the financial institution’s ability to
effectively respond to incidents or disruptions and continue operations
at acceptable pre-defined levels.
presentation at Fidelity Bank’s head office in Lagos, the MD/CEO
Fidelity Bank, Mr. Nnamdi Okonkwo said the certification would enhance
the safety and protection of the bank’s assets and customers’
investments, as well as the financial institution’s ability to
effectively respond to incidents or disruptions and continue operations
at acceptable pre-defined levels.
He added: “Most disruptions to smooth
business operations are caused by infrastructure outages or human error.
“They can also be the result of random power outages, natural disasters
or international events.
business operations are caused by infrastructure outages or human error.
“They can also be the result of random power outages, natural disasters
or international events.
“Clearly, any of these disruptions can
be costly and undermine an organisation’s ability to deliver
best-in-breed customer service.
be costly and undermine an organisation’s ability to deliver
best-in-breed customer service.
“More importantly, unplanned outages can
also create far-reaching consequences that impact long-term revenue
stream, brand and ultimately, an organisation’s survival.
also create far-reaching consequences that impact long-term revenue
stream, brand and ultimately, an organisation’s survival.
“It is against this backdrop that Fidelity Bank decided to take concrete steps to improve its resilience capabilities.”
Continuing, the Fidelity Bank boss said:
“After months of rigorous Business Impact Analysis (BIA) and risk
assessment across all the departments of the bank, our bank was awarded
the prestigious ISO 22301 certificate by the BSI.
“After months of rigorous Business Impact Analysis (BIA) and risk
assessment across all the departments of the bank, our bank was awarded
the prestigious ISO 22301 certificate by the BSI.
“Implementing the ISO 22301 (Business
Continuity Management System) is a critical step towards achieving our
corporate strategy and enhancing stakeholders’ confidence in the
Fidelity brand.
Continuity Management System) is a critical step towards achieving our
corporate strategy and enhancing stakeholders’ confidence in the
Fidelity brand.
“BCMS demonstrates that Fidelity bank is
committed to protecting its staff and ensuring the continuity of
critical business functions, mitigate risk, and sustain customer
confidence in the event of a disruption.”
committed to protecting its staff and ensuring the continuity of
critical business functions, mitigate risk, and sustain customer
confidence in the event of a disruption.”
On the part of the regulator, the
Director, Banking and Payment Systems Deaprtment CBN, Mr. Dipo Fatokun
applauded the bank timeliness in responding to CBN’s directive. He said: “For the bank to have implement
this successfully and certified by BSI is a great achievement. Fidelity
bank is know for being consistently committed to rendering quality
services to their clients.
Director, Banking and Payment Systems Deaprtment CBN, Mr. Dipo Fatokun
applauded the bank timeliness in responding to CBN’s directive. He said: “For the bank to have implement
this successfully and certified by BSI is a great achievement. Fidelity
bank is know for being consistently committed to rendering quality
services to their clients.
“In this day where hazards that are
natural have become numerous, being certified for the business
continuity management system is a great achievement and evidence of the
bank’s commitment and readiness to sustain service delivery by
overcoming any unforeseen disruption.”
natural have become numerous, being certified for the business
continuity management system is a great achievement and evidence of the
bank’s commitment and readiness to sustain service delivery by
overcoming any unforeseen disruption.”
Represented by his assistant director,
Mr. Y M Bature, Fatokun further added: “We encourage other players in
the industry to emulate this great example made by fidelity bank.”
Mr. Y M Bature, Fatokun further added: “We encourage other players in
the industry to emulate this great example made by fidelity bank.”
Also, the Head, Trade and Investment UK
Deputy High Commission, Mr. Ben Ainsley, said that “this regulatory
systems is something the UK government wholeheartedly believes in and
that the UK government is looking to improve its business with Nigeria
in terms technology support and enhance trade.”
Deputy High Commission, Mr. Ben Ainsley, said that “this regulatory
systems is something the UK government wholeheartedly believes in and
that the UK government is looking to improve its business with Nigeria
in terms technology support and enhance trade.”
