The ISO 9001 International Standards in a System of the Banking Services Quality Management

The aim of the article is to test the hypothesis of a positive financial effect from ISO 9001 quality standards introduction by commercial banks in Ukraine. The article is devoted to testing the hypothesis about the impact of banking services quality standards on the efficiency of banking activities. An example of the Ukrainian banks an empirical study for the period 2008-2017 was conducted. The efficiency of banking activity was estimated by means of the stochastic frontier analysis taking into account parameters of income, expenses and other parameters of banking activity. The results of econometric modeling confirmed the positive effect of the introduction by commercial banks of the standards of quality of the ISO 9001 group on the efficiency of their activities. At the present stage of development, commercial banks of Ukraine demonstrate trends in the spread of adaptation of their management systems to international requirements and the introduction of international quality standards into their own activities. The results of the conducted research proved that the successful completion of the certification procedure of the bank's quality management system not only plays a significant role in terms of forming a positive image of the bank in the banking services market but also creates significant prospects for increasing the efficiency of its operations. Thus, the analysis of the averaged parameters of the activities of certified banks and banks that do not have a certificate of compliance with international standards has shown that commercial banks whose quality management system is appropriate to the international standards are usually characterized by better indicators of financial sustainability and profitability of their activities. On the other hand, the results of econometric modeling of the impact of the certification procedure on the efficiency of banking activities have shown that the presence of a certificate in the bank creates additional efficiency of its activities. Thus, the hypothesis regarding the presence of a positive financial effect of the quality standards of the ISO 9001 group has been confirmed. Given the multidimensional orientation of the requirements of ISO 9001 standards for quality management systems of banking institutions, the research in the direction of analyzing the achievement of the goals set by the provisions of these standards and estimation of their interconnections with the input and output parameters of the functioning of banking subsystems is promising.