BAI-Finacle Global Banking Innovation Awards 2014 – winners announced
BAI and Infosys announced the winners of the 2014 BAI-Finacle Global Banking Innovation Awards during a special ceremony on November 12 at the BAI Retail Delivery 2014 conference in Chicago, Illinois. Award winners were chosen from 22 finalists representing 12 financial institutions from around the world. BAI’s Innovation Circle Judging Panel selected the award winners in each of the categories.
View the 2014 highlight video to learn more about this year’s program.
Watch the entire ceremony
The awards were presented in four main categories and had special awards for Honorable Mention for Innovative Spirit, Disruptive Innovation in Banking and Most Innovative Bank of the Year.
Product and Service Innovation
CaixaBank (Spain): ReciBox: Online and Multi-device Service for Bill Payment
Created by and for CaixaBank customers based on suggestions regarding the sophistication and evolution of bill service and payment, ReciBox provides information to CaixaBank customers, enabling them to make decisions and take action in an easy way.
mBank (Poland): Project New mBank: The Next Generation Digital Bank
Project New mBank provides a unique customer experience with re-designed Internet and mobile banking. mBank’s new online and mobile banking platform delivers over 200 innovative features that provide customers access to advanced banking tools beyond the typical access to basic banking information. The project significantly improves the convenience of using mBank products, encompassing 1200 products in 15 major product lines and reshapes the way customers bank.
Innovation in Internal Process Improvement
DenizBank A.S. (Turkey): ‘inter-Collect’ Collection Software
DenizBank developed inter-Collect to enhance a well-designed collection strategy. Using inter-Collect, DenizBank delivers clear directions for collection strategies by segmenting problematic accounts to determine which accounts to collect, how and when to contact the customer, and how to allocate resources to maximize collectable debts.
Innovation in Societal and Community Impact
Fifth Third Bancorp (US): Bank Homeowner Re-employment
Homeowner re-employment at Fifth Third Bank is a program developed in response to the rapid rise of foreclosures after the recession of 2008. Understanding that the primary cause of late mortgage payments was job loss, Fifth Third decided to tackle the problem straight-on. Instead of relying on the offering of typical loan modification programs, Fifth Third Bank decided to help its customers find jobs by partnering with NextJob, a re-employment solutions company.
Honorable Mention for Innovative Spirit
CaixaBank believes that innovation is a key tool to be at the forefront of the financial sector. To achieve this, the organization has created the necessary conditions to encourage innovation and ensure it is present in all areas and levels of the institution.
With the goal of continuously fostering innovation internally as well as externally, CaixaBank has employed a multi-prong approach to innovation by focusing their endeavors on three spheres. The first sphere is the internal engagement of in-house talent through “Imagina” an exclusive area for La Caixa group employees to present innovative ideas. The second sphere is the external engagement of customers in the innovation process through the creation of “Insp’ranos” (Inspire us), an innovation platform based on the generation and management of ideas that provides customers with a platform to propose and suggest concepts related to the banking environment. The final focus is on engaging innovation by young talents through “FINApps”, an international competition organized by CaixaBank every year where participants submit new ideas for financial mobile applications.
Disruptive Innovation in Banking
Idea Bank S.A. (Poland): Idea Cloud – Secure Banking Cloud
Idea Cloud was developed with a goal to provide Idea Bank’s clients a multi-functional banking platform based on cloud solutions. It is the first platform in Europe that combines both accounts and banking functionalities that offer different services and tools to enable the users, mostly small-scale entrepreneurs, to simplify and speed up all processes associated with complex business management.
Most Innovative Bank of the Year
DenizBank A.S. (Turkey)
DenizBank has long established itself as an innovative bank in the Turkish financial sector owing to its first-of-a-kind products and technology investments with notable excellence in the areas of internal process and customer-facing innovation. The bank has established a first-of-its-kind Digital Generation Banking Department that focuses on digital projects with a concentration on brand new Web and mobile services. DenizBank has built a digital banking ecosystem for their customer segments ranging from mass to SMEs. In preparing DenizBank’s Digital Ecosystem for the next generation, the institution is currently building existing products over gamified infrastructure that is supported by social games applications.
Nominations will open for the 2015 program in mid-January.