Banking and financial services

Raise service levels, improve risk management and meet regulatory requirements.

In an increasingly uncertain economic and regulatory environment BSI’s products and services can provide assurance and embed systems, processes and values to help protect the business and its customers. These standards reduce risk, create efficiency and can provide a common language for the global banking and financial services sector.

Popular finance standards and services

The cost of compliance is increasing with more than 85% of compliance officers expecting the focus on managing regulatory risks to rise.

ISO 31000 Risk management principles and guidance

The financial services industry is exposed to many risks from operational, to regulatory, insurance, market, customer and supply chain risks. ISO 31000 provides a foundation for implementing other ISO risk management standards and guidelines. It has been developed to provide a common approach.

“A majority of investment banks had more work to do in order to implement effective anti-bribery and corruption systems and controls.”

UK Financial Services Authority (now the FCA)Review March 2013

ISO/IEC 27001 for an information security management system

Financial institutions are increasingly being targeted by criminal gangs attempting to infect machines and steal login details. The regulator has come down heavily on a number of financial institutions that have lost data, imposing fines of upwards of £3 million. Don’t let this happen to you – ISO/IEC 27001 can help. It takes a risk-based approach to help financial institutions plan and implement an information security management system, which delivers an appropriate and affordable level of organisational security.

Complaints Management

Managing complaints effectively is vital for regulated financial services. Follow the recognized BS ISO 10002 standard to ensure your complaints handling processes are up to scratch. BS 18477, the BSI standard, can help organizations understand the different needs consumers have including those in vulnerable circumstances and provide the right assistance and flexibility.

ISO 22301 for a business Continuity management system

As one of those industries hit hardest by downtime financial services firms need arrangements in place to ensure they can continue to function in the event of an unforeseen interruption. Although not every eventuality can be planned for, by putting in place an ISO 22301 business continuity management system, organizations can demonstrate that they have a robust system in place, and are operating in compliance with FSA advice.

BS 11000 for collaborative business relationship management

With increasing consolidation and competition in the industry, the financial services sector can benefit from building better collaborative business relationships with partners, suppliers and clients. Improvements in collaboration are seen as a major contribution to higher efficiency and productivity. BS 11000 provides a framework to help organizations build effective partnerships that deliver value internally and to customers.