BAI and Finacle from Infosys yesterday announced the finalists in a new global awards program that recognizes innovation in the retail banking industry. The 16 financial institutions were chosen from around the world for innovations that positively impact customers and organizational profitability.
Product Innovation Award: Recognizes a new product that has excited customers, created new revenue opportunities or improved the bank's competitiveness in the market. Finalists shown in alphabetical order by region include:
UBank, APAC (Australia)
Fidor Bank AG, Europe (Germany)
Citi Handlowy, Europe (Poland) -- Finalists for two products
Akbank, Europe (Turkey)
Service Innovation Award: Recognizes excellence in providing an integrated customer experience across channels including mobile, online, social media and branch. Finalists shown in alphabetical order by region include:
Punjab National Bank, APAC (India)
ASB Bank, APAC (New Zealand)
DBS Bank, APAC (Singapore)
OCBC Bank, APAC (Singapore)
"la Caxia," Europe (Spain)
Disruptive Innovation Award: Recognizes global impact in terms of redefining business-as-usual in retail banking. Disruptive innovations are radical in nature. Finalists shown in alphabetical order by region include:
Bank of America, Americas (USA)
Citibank, Americas (USA)
Coastal Federal Credit Union, Americas (USA)
ActivoBank, Europe (Portugal)
Bankinter, Europe (Spain)
First National Bank, a Division of FirstRand Bank Limited, MEA (South Africa)
"The level and scope of innovation in the retail banking industry is remarkable, and these finalists exemplify the best of the best from throughout the world," said Debbie Bianucci, president and chief executive officer of BAI. "The inaugural year of this global awards program has set a new standard for creativity and originality. More than 200 nominations were submitted from over 40 countries, showcasing the rich diversity of solutions."
The winners will be announced at the BAI and Finacle from Infosys Awards Ceremony and Brunch on Oct. 11 at BAI Retail Delivery in Chicago.
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