The two certifications were issued by the British Standards Institution (BSI).
ISO 20000 shows that the Bank’s service management system is robust enough in the delivery of all IT-related services and is also aligned with its current and future needs. Similarly, the ISO 27001 certification offers assurance to customers that the bank is implementing end-to-end information security controls to protect, the confidentiality, integrity and availability of all customer information.
In his remarks on receiving the two certifications, Equity Group Managing Director and CEO Dr. James Mwangi noted that the recognition was a testament to the Bank’s significant investment in data analytics and cyber-security capabilities to better meet its evolving customer needs and expectations and to reduce the potential for data breaches.
“Being fully aware of the risk and impact involved in data information management, it is our commitment to actively continue engaging our stakeholders to ensure that there is appropriate governance in place. It warrants us to be increasingly aware of our roles and responsibilities in information security and actively play our part in ensuring that the appropriate processes are followed to realize effective information technology metrics. The evolution in regulation appropriately balances the value of giving customers control of their data, with our duty to protect customer privacy and security,” said Dr. Mwangi.
Other goals for ISO 20000 on service management include protecting revenue flow into the business by providing stable IT services, meeting the Bank’s obligations to stakeholders, including its customers, regulators, shareholders and suppliers, and lastly making IT a business enabler.
Equity Bank Kenya is the largest bank subsidiary of Equity Group Holdings Plc with a footprint of 190 branches spread across the country and is supported by 42,957 agents, 20,384 merchants and 386 ATMs. Equity Group Holdings Plc is a financial services company listed at the Nairobi Securities Exchange, Uganda Securities Exchange, and Rwanda Stock Exchange. In addition to Kenya, the Group has banking subsidiaries in Rwanda, Uganda, DRC, Tanzania, South Sudan and a Commercial Representative Office in Ethiopia; with additional non-banking subsidiaries engaged in the provision of investment banking, custodial, insurance agency, philanthropy, consulting, and infrastructure services.
Equity Group is the largest bank in the region with assets of USD 11.2 billion. It is also the biggest bank in deposits, market capitalization and with a customer base of over 15 million customers. The Group has a footprint of 337 branches, 56,772 Agents, 32,269 Merchants, 697 ATMs and an extensive adoption of digital banking channels. The Banker Top 1000 World Banks 2020 ranked Equity Bank 754 overall in its global ranking, 62nd in soundness (Capital Assets to Assets ratio), 55th in terms of Profits on Capital and 20th on Return on Assets. In the same year, Moody’s gave the Bank a global rating of B2 with a negative outlook same as the sovereign rating of the Kenyan government due to the Bank’s strong brand recognition, solid liquidity buffers and resilient funding profile, established domestic franchise and extensive adoption of digital and alternative distribution channels.
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