Mumbai: Federal Bank, was awarded ISO 22301:2019 for its Business Continuity Management System (BCMS). The Certificate handover ceremony was held on 11th August 2021 virtually and the award was presented by BSI.
“In an age which is increasingly unpredictable, the need for an independently certified BCMS is vital for underscoring the ruggedness required to withstand any disruption. This certification, which is in line with global standards, underpins the integrity and resilience of our brand”. - said Mr. Shyam Srinivasan, MD & CEO, Federal Bank
This certificate is a significant milestone for the Bank as the certification is highly relevant in the current environment with the ongoing COVID19 pandemic, increased frequency of extreme weather conditions, and growing expectations of customers around 24x7 banking services.
ISO 22301 specifies the requirements for a management system that help organizations prevent, prepare for, respond to, and recover from unexpected and disruptive incidents.
Shalini Warrier, ED, Federal Bank said “Business continuity during a crisis is an imperative for an organization like ours, as it ensures uninterrupted service to our customers. The recent BCMS Certification provides our Bank with a strong and fundamental framework by which we are guided in the event of a crisis”.
The business continuity management framework of Federal Bank has now been benchmarked with international standards for ensuring enhanced service assurance to its customers and thus strengthening its journey towards becoming the most admired Bank in the Country.
This certification covers a wider scope of activities such as Operations, IT and Cheque Clearing Functions.