Analyse and identify the suitable ISO standards (at least 2 standards) applicable for TRUST Bank with proper justification, evaluate the benefits (at least 4) of implementing the ISO standards in the banking sector in specific to TRUST Bank and how can you prove TRUST Bank is superior than PR.X Bank? 

TRUST an emerging bank in East Asia. The bank having its most of the operations online now is using the internet for over 10 years and security is the key structure obstruct whereupon the bank depends. Data security is esteemed at elevated level making operational, financial backing and making it a significant asset to the organization. Mr. RST, Manager-IT clarifies, 

"Financial business can't sustain without security checks. 24x7 checking is expected to protect the data. On the off chance that we neglect to consent to the security rules we can confront overwhelming fines and serious harm to our reputation of the bank". As indicated by him, the business integrity, confidentiality and accessibility of data should be protected reliable banking services to its customers. For this, he and his colleague Mr. XYZ, Senior Manager, IT predominantly demanded risk analysis, regularly updating the applications and procedures, get to checks and business consistency. Most importantly, they likewise included that ABC Bank is in the last procedure of accomplishing ISO certification that offers a complete way to deal with the data security and data risk management. Mr. RST proceeds.

 "This certification will assure the customers of our quality of service in security." Moreover, the senior manager of this trust bank planned to improve its waiting system in the bank. So, the bank planned to benchmark the waiting system process with a reputed hospital in that region which had an efficient waiting system management. Initially, the senior manager planned to benchmark its waiting system process with PRX bank in that city, it is waiting system management, payment processing, financial operations and satisfying customers are as good as TRUST bank. 

But the PRX bank is not having ISO certification Hence, the senior manager dropped the idea of benchmarking process with PRX bank. The proposed P w benchmarking process displays four phases of benchmarking - planning, data collection, analysis and adaptation. The three most basic variables confronting the benchmarking process were seen as: time and resource accessibility, restricted length; comparability and compatibility. A portion of the difficulties to effective usage of benchmarking projects in the banks are: top Management support, long time period to finish the project, fear of sharing information, and significant expenses of benchmarking were seen as the primary difficulties to execution of benchmarking projects in the banking industry. 

Answer rating: 100% (QA)

amongst the various ISO standards ISO 27000 and ISO 9001 would be most suitable for TRUST bank becau... View the full answer