Why should banks have ISO 20000 Certification? from jobinwason's blog

A bank is an organization that provides services to customers. In order to improve customer satisfaction, it is essential for banks to maintain and implement the quality of services. This can be achieved with the help of the ISO 20000 standard.

In this article, we will let you know more about ISO 20000, how this standard benefits the bank, and how to obtain the ISO 20000 certification.

ISO 20000:

It is one of the globally recognized standards for IT Service Management System (ITSMS). This international standard specifies requirements for organizations/service providers to continually improve an SMS. It also helps to drive betterment in the design, transition, and delivery of services. However, this voluntary standard also supports the service providers to fulfill agreed service requirements.

The requirements of ISO 20000 are proposed to be applicable to any service provider, regardless of the service it provides. Whether it is a small start-up company or large organization, the ISO 20000 certification is suitable for all.

For financial institutions like banks, implementation of ISO 20000 helps to gain customer loyalty, promote process efficiency, and as well as to meet regulatory compliance.

What is the responsibility of ITSMS in an organization?

The service management system of the organization is responsible for providing high-quality IT services to the customers/clients/stakeholders. It helps to monitor and ensure the level of compliance. Moreover, the objective of SMS is to meet customer requirements by implementing the quality of services.

How does a bank benefit by achieving the ISO 20000 Certification?

• Effective delivery of IT services

To meet customer requirements, the banking sectors have developed so many innovative features such as mobile banking, online banking, net banking, etc. implementing the specifications of ISO 20000 helps the financial institutions to provide the bust banking IT services to the customers.

• Continual improvement in the quality of services

ISO 20000 specifies a framework to plan, monitor, operate, review, maintain, and improve the quality of IT services.

• Customer satisfaction

The improvement in the quality of IT services enhances the credibility of your business. This helps customers to trust in your business process and service management system.

• Stakeholders confidence

The ISO 20000 certification establishes your organization’s involvement in delivering high-quality services to the customers as well as stakeholders.

• Enhanced reputation

Developing the ISO 20000 requirements not only ensures betterment in the quality services but also improves the reputation of your business.

• Increased competency

Achieving the ISO 20000 certification is not an easy job. It requires lots of effort and resources. But once you implement the service management system in compliance with ISO 20000, it enhances your competency and lets you stand alone from the competitors.

• International recognition

ISO is an International Organization for Standardization. It develops and publishes international standards for the organizations to follow the best practices in their management system process. So, promoting your management system with the help of ISO 20000 lets you achieve international market access.

How to obtain ISO 20000 certificate?

Acquiring the certification is not a requirement of the standard. But, it plays a major role in promoting the competency of your organization. So if you are planning to achieve the ISO 20000 certification, the following guidelines will help you reach the desired goals.

• Scope of the certification

To achieve the certification, the organization/service provider needs to prepare a scope of the certification that should describe the main process of your business, the number of people involved in this scope, etc. Preparing a clear scope helps the organizations to be confident about their process and the certification body to conduct the audit in an effectively.

• Contact the best ISO Certification body

Find the best ISO certification body that has proven experience in the same process you have applied for. If you’re providing services to international clients, it will be helpful if you choose the certification body that has international recognition. Here are some of the factors you should verify before selecting the certification body:

• Accreditation
• Global recognition
• Proven experience
• Professional auditors
• ISO certification cost

Contact the certification body by sending a proposal that tells the information about your company. Based on the scope submitted by your organization, the certification body comes with a plan to initiate the certification audit.

• ISO 20000 Certification audit

Basically, the ISO 20000 certification audit includes 2 stages. In stage 1 audit, the auditors will evaluate the documentation provided by the organization. The audit team will also analyze the operational methods, delivery of services, etc. They will provide an audit report with a deviation report (only if the system needs further implementation).

The final evaluation is carried out in the stage 2 audit. This is the main audit that determines whether the organization met the desired ISO criteria.

• Reward of ISO certificate

Finally, the certification body will issue the certificate based on the scope submitted by your organization.

• Surveillance audits

The surveillance audit does not have stage 1 and stage 2 audit. This initial certificate is valid for 3 years. During this period, the surveillance audits will be conducted by the certification body in the interval of 12 months.

• Recertification audit

After the validity of the initial certification is over, the certification body will perform a re-certification audit. This helps the organization to ensure the continual improvement of the management system and to maintain the certificate.

Visit : iso 22000 certification in UK