Business News:Access Bank upgrades system, gets ISO certifications

As part of effort to strengthen its operations and also entrench operational excellence, Access Bank Plc has upgraded its system with additional securities measures.

The bank has also been conferred with the ISO 27001:2013; ISO 22301 and has also upgraded its Payment Card Industry Data Security Standard (PCI- DSS) certification.

The Executive Director, Operations and IT, Mrs. Ojini Olaghere, in a keynote address during the presentation of the International Standard Organisation (ISO) certificates to the bank in Lagos at the weekend, said Access Bank would continue to make the protection of confidential and sensitive customer data its priority.

Olaghere, who promised stakeholders that the bank will not relent on its determination to develop and carry out its operations in line with the global best practices, also said Access Bank remained committed to continuous review and improvement of its security.

“We are not resting on our oars but have developed and implemented an information security and risk management framework that is in line with global best practices. Retaining these global security standards fundamentally requires that we have a process in place that meets the security requirements and we remain compliant by continuously reviewing and improving security of our systems,” she added.

Speaking on the bank’s commitment to remain a leading force in modern banking system, she said: “Access Bank remains the pacesetter when it comes to speed, service and security, thus, we were the first Nigerian bank to be accredited with the PCI DSS version 2.0 certificate in 2011, which is today being upgraded to PCI DSS version 3.1 with additional security measures and improved processes.  And again, the first Nigerian bank to be accredited on version 3.1.

“In line with the board and management commitment to ensure continuous improvement and security of the bank’s information assets, our accreditation in 2012 with the ISO 27001:2005 certificate is again being upgraded to the most recent ISO 27001:2013 of Information Security Management Systems (ISMS). Also to ensure sustainability and business continuity, our processes have been certified to be compliant with ISO 22301 by British Standard Institute (BSI).”

On his part, the Director, Banking and Payment System Department, Central Bank of Nigeria, Mr. Dipo Fatokun, in his speech, congratulated the bank for its proactive steps in getting certified under the new PCI-DSS standard, noting that it was a confirmation that Nigerian banks were committed to ensuring that they are not the weak link in the global electronic payments infrastructure.

Speaking further, Fatokun said given the increasing challenge of safeguarding the nation’s payment system from fraudsters, the central bank had fostered a common front for tackling electronic fraud by establishing the Nigeria Electronic Fraud Forum (NeFF).

“Cross-border collaboration is essential to the fight against electronic fraud. Perpetrators of the crime are organised within an international network and they share their innovations and exploits, perhaps more freely than payments system participants share information and experiences. It is therefore pertinent that the international banking community collaborate effectively to tackle the challenge head on.

“It is therefore expected that all payments system providers in Nigeria will not rest on their oars upon certification but will ensure that the principles, processes and controls become ingrained in the culture of safety within their operations. This will instil confidence in domestic users of the payments system and the international community while fostering electronic commerce and promoting national economic growth,” Fatokun added.

[ThisDay]