Certification is primarily for IT consultant. Banks, insurance companies hire a lot of IT consultants through IT service providers (e.g. Tata, Accenture).
How can they tell if the IT consultants are qualified for the work? Certification is one way to ensure they at least meet the minimum requirement but this is not to say the certification implies the IT consultants have the skill sets or knowledge to do the job.
How can they tell if the IT consultants are qualified for the work? Certification is one way to ensure they at least meet the minimum requirement but this is not to say the certification implies the IT consultants have the skill sets or knowledge to do the job.