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Stanbic Bank Ghana

Stanbic Bank Ghana

Stanbic Bank Ghana, MSECB client success story

In one hand, MSECB customer service team proved their values by being really professional and keen on their approach. They were always ready and willing to support us with any clarity related to MSECB services. On the other hand, MSECB auditor/s showed a great maturity and competence at handling the entire certification audit process independently end-to-end. We highly recommend you to consider MSECB as your certification body so you can live a great experience.

– Jalilu Issahaku, Head Agile Portfolio Office

About Stanbic Bank Ghana

Stanbic Bank Ghana is a private limited liability company which has expanded its geographical reach and broadened its scope of financial services, while growing consistently over the years to become one of the most well recognized brands in the Ghanaian banking industry.

Stanbic Bank Ghana currently has one wholly owned subsidiary, SBG Securities Limited, which offers stock brokerage services to complement Stanbic Bank Ghana’s broad range of banking and financial services.

Stanbic Bank Ghana is a subsidiary of the Standard Bank Group, an African bank holding company with twenty (20) subsidiaries across Africa. The world’s largest bank in total assets, Industrial and Commercial Bank China (ICBC), has 20% stake in the Standard Bank Group.

Stanbic Bank Ghana leverages on its relationship with its parent company to deliver bespoke banking solutions to customers. This has been a differentiating factor for the bank which is well acknowledged in the market by both private and public sector customers. Stanbic Bank is also a leader in the deployment of digital banking products, investment banking, infrastructure financing, global market trading solutions, and financial advisory services are also key competency areas for Stanbic Bank. In addition, Stanbic Bank offers a wide range of products and services for retail customers including individuals, small size businesses and local corporates.

Stanbic Bank offers clients a wide range of products and services across a broad range of sectors including commerce, energy, power, agribusiness, transportation, mining and telecoms, infrastructure, and financial institutions. The bank supports these business areas through its risk and capital management systems to ensure that its products and services are delivered efficiently and effectively to the clients.

Why did you choose to get certified against ISO/IEC 27001?

In recent years, cyber-related systems and networks have played an increasing role in the operations of financial services delivery. The financial sector relies on these infrastructures for processing transactions and transferring funds which has made them attractive and susceptible targets for cyber-attacks. Being high-profile targets creates a distinct challenge for financial institutions like us, since we must strike an optimal balance between security and maintaining efficient and reliable operations for our customers.

Showing conformity to ISO/IEC 27001 will ensure that adequate measures have been put in place for the establishment, implementation, maintenance and continual improvement of the ISMS according to best practices with the aim of minimizing disruption of the organization.

ISO/IEC 27001 certification will demonstrate that we have identified the risks, assessed the implications and put in place systemized controls to limit any damage that could potentially affect our customers’ data. It can also increase customers’ and business partners’ confidence by showing that you are doing everything possible to minimize the risk of data loss.

Lastly, conformity to ISO/IEC 27001 will enable us to meet the regulator’s (Bank of Ghana) directive as part of the broader requirements by financial institutions like us to comply with the Cyber and Information Security directive issued in 2019.

What are the main benefits of your company after implementation and certification against ISO/IEC 27001?

What is the difference in your company before and after certification?

After getting certified with ISO/IEC 27001, the awareness among bank executive about the need to continually support and fund improvement programmes in the ISMS of the bank has increased.

Information Security Management System champions appointed in various units will continue to ensure that control measures are adequately incorporated into the normal BAU operations of our bank.

Customers will eventually want to do more business with our bank because they will have more confidence, given the fact that their data is adequately protected, its confidentially can be guaranteed, and that their data will be available as and when required.

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