In the banking sector, downtime is to be avoided at all costs. TARGOBANK, one of the leading retail banks in Germany, has called upon DQS CFS to audit and certify its business continuity management system. The bank, headquartered in Düsseldorf, is only the second in Germany to achieve certification to the ISO 22301 standard.
Every minute of downtime is a minute with potential loss of revenue, disgruntled clients, supply gaps and lack of productivity. Because interruptions of business can never be prevented entirely, a solid approach to manage risks and respond to incidents and issues is critical. The international standard ISO 22301 specifies requirements for organizations that wish to implement a documented business continuity management system (BCM).
“With the successful implementation of ISO 22301, TARGOBANK is entering an exclusive circle. The certification demonstrates that we are setting new standards within our industry”, says Tim Wolters, Head of Security and Business Continuity at TARGOBANK.
During the audit, TARGOBANK managed to impress the DQS auditor team with its holistic approach: “For many companies, business continuity is mainly about the infrastructural side – for instance power outages in specific buildings”, says Simone Humpert, Business Continuity Manager at TARGOBANK. “By contrast, our perspective is much more broad: disruptions related to staff, service providers and IT systems are factors that can affect business continuity and deserve to be taken into account.”
In order to prepare for the audit, the bank identified all processes and applications that could potentially interrupt operations. These analyses, as well as the measures derived from them and the emergency procedures were then assessed by DQS in the certification audit. With a positive outcome: TARGOBANK has been awarded the ISO 22301 certificate, with a validity of three years. DQS will continue to conduct yearly surveillance audits.