Business Hilights

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Fidelity Bank now stands out with best risk mitigative system

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Following its reception of Business Continuity Management System (BCMS) and ISMS certifications to improve resilience capabilities and risk management, Fidelity Bank now stands out among others as one of the financial institutions with the best platforms to deal with related challenges. The certification was valid for three years even as the certification body would return yearly to conduct surveillance audits.

Managing Director of the bank, Mr. Nnamdi Okonkwo, who spoke during an award ceremony in Lagos, recently noted that BCMS certification clearly demonstrates the bank’s commitment to mitigating risk caused by human or natural disasters.

Business Hilights gathered that the 22301 BCMS was developed to protect companies from the risks associated with downtime, which could occur due to unexpected disruptions or disasters.

Before now, the Central Bank of Nigeria (CBN), has given all commercial banks operating in Nigeria Sept. 2018 deadline for BCMS certification.

However, the bank chief added that Fidelity Bank achieved the feat after months of rigorous Business Impact Analysis (BIA) and Risk Assessment across all departments.

Okonkwo also revealed that his bank was awarded the prestigious International Organisation for Standardisation (ISO) 22301 certificate by the British Standard Institute (BSI) in August 2017, stressing that implementing the ISO 22301 (Business Continuity Management System) was a critical step toward achieving its corporate strategy and enhancing stakeholders’ confidence in the Fidelity brand.

According to him, “For us as a bank, the customer is the sole reason we are in business”.

“Therefore, it is essential that we continually deliver exceptional service to our teeming customers. Certification to such standards will assist us in achieving this,’’ Okonkwo elated added.

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.
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