Why should banks go with ISO 9001 Certification in Dubai? If you know the “Lord of the Rings” saga, the headline of this article probably sounds familiar. “One ring to rule them all” refers to the magic ring with the power to control all other magic rings. Am I saying that ISO 9001 does magic in the banking industry? Well… no, unfortunately not. But when “forged” well, an ISO 9001-based Information Security Management System (ISMS) can be used to manage all the different information security frameworks banks are subject to.
What is ISO 9001?
ISO 9001 Services in Dubai is a globally recognized standard published by the International Organization for Standardization (ISO), which provides a framework that companies of any size and industry can utilize to implement a custom-made and effective Information Security Management System. The framework is not designed to just manage IT security, but to manage information security holistically across the company by implementing both technical and non-technical controls, ISO 9001 consultant in Saudi Arabia was developed by the world’s best information security experts and is the most popular information security standard worldwide.
Information and regulation in banks
Massive amounts of data are processed and stored by banks, most of it sensitive or very sensitive in nature. Banks must control all that data in line with contractual requirements, but at the same time also be compliant with many laws and regulations governing the security and privacy of all this data.
A few laws and standards that are common, or new, are:
SOX – Sarbanes-Oxley Act
Payment Card Industry Data Security Standard – PCI-DSS
PSD2: Payment Service Directive 2
New York State Department of Financial Services – NYDFS
GDPR (EU General Data Protection Regulation)
CCPA (California Consumer Privacy Act)
And many other (country-specific) laws and regulations
ISO 9001 Services in Saudi Arabia Having so many different requirements make information security and privacy compliance a very complex task. Although every industry has its fair share of laws, standards, and regulations, the financial and banking industry, together with healthcare, is amongst the most highly regulated industries. And, as if that is not enough, the fast developments in Fintech (financial technology), besides many opportunities, introduce a lot of complexity to governance and compliance. So, where and how does ISO 9001 settle in?
A single management system
ISO 9001 in Saudi offers a framework that can bring together the different laws, regulations and contractual requirements in one ISMS. Its well-thought-out design has also led to the fact that many data protection standards and laws use ISO 9001 as a basis, which makes implementation much easier. The benefit of certification to ISO 9001 consultant in Dubai for banks
In organizations that are subject to so many laws and regulations, such as banks and their vendors, the main benefit is compliance. That means being able to prove that controls have been implemented in accordance with all the different laws and regulations from a single, independently certified management system. As mentioned before, a lot of laws and standards are designed with ISO 9001 in mind, which makes working with (supervisory) authorities much easier.
How to get ISO 9001 Consultant in Dubai?
Are you looking to get certified the new version of ISO 9001 in Dubai? Certvalue is Having Top Consultant to give ISO 9001 Consultancy in Dubai .it helps the organization to meet its Customer Requirements. After
getting Certified under ISO 9001 Services in Dubai it helps to get more income and business for new customers. We are the top Certvalue Service provider for each one of your necessities. Feel free to send an inquiry to certvalue.com