Citi Sri Lanka recently became the only commercial bank in Sri Lanka to be ISO 9001 certified for its entire banking operations processes. “Covering cash, trade, FICC, and custody operations, this highly regarded certification is proof of Citi Sri Lanka’s commitment to the highest standards of quality management and is an affirmation of the bank’s dedication to continual improvement. Citi Sri Lanka is a subsidiary of Citigroup, the world’s largest financial services network, with approximately 16,000 offices in 140 countries,” the bank said in a statement.
In fulfilling the requirements for ISO 9001 certification, Citi Sri Lanka had to document a standardized set of procedures that covered all key processes, monitor the efficiency and efficacy of these processes, maintain flawless records, periodically revew the quality system itself for effectiveness, and adopt a critical approach to facilitate constant improvement, the statement said.
“This rigorous process, involving internal and external evaluations, as well as all necessary corrective measures, took only three months for Citi Sri Lanka to complete, surprising the auditors at SGS Lanka, which conducted the certification proceedings.
Indeed, the initial gap analysis carried out by SGS Lanka revealed that Citi Sri Lanka had already been in compliance with most of the requirements and that it was mostly just a matter of assembling the necessary documents in the order mandated by the International Organization for Standardization (ISO),” the statement added.