Unthink Banking

BAI-Finacle Global Banking Innovation Awards 2014 – finalists announced

The 2014 BAI-Finacle Global Banking Innovation Awards, now in its fourth year, recognizes breakthrough innovation in the retail banking industry – the kind that positively impacts profitability, efficiency and customer experience.

Twenty-two finalists, representing 13 financial institutions around the world, were chosen from more than 200 nominations for their innovative excellence.

Five categories of finalists are represented this year: Product and Service Innovation, Channel Innovation, Innovation in Internal Process Improvement, Innovation in Societal and Community Impact, and Disruptive Innovation in Banking.

The Product and Service Innovation Award recognizes retail financial institutions that have substantially improved an existing product or service, or have introduced a new one that has engaged customers, unleashed new revenue opportunities, or improved the bank's competitiveness. Finalists listed in alphabetical order include:

The Channel Innovation Award recognizes retail financial institutions that have made marked changes or improvements, within the bank’s distribution network, to existing channels (such as branch, ATM, or mobile), or have introduced a new channel, or distribution strategy that has benefited the organization and customer experience. Finalists listed in alphabetical order include:

The Innovation in Internal Process Improvement Award recognizes retail financial institutions that have made a significant investment in internal processes to improve overall customer experience, including cultural transformations, or more customer-friendly products, services, or delivery channels. Finalists listed in alphabetical order include:

The Innovation in Societal and Community Impact Award recognizes retail financial institutions that have designed or enhanced products and services, or channel accessibility to meet the needs of customers with special circumstances. These include ensuring access to physical locations to disabled customers, or providing banking services and financial education to underserved populations. Finalists listed in alphabetical order include:

All submitted nominations were also reviewed and considered for the Disruptive Innovation in Banking Award.

The Disruptive Innovation in Banking Award recognizes a bank that has implemented a program or service, completed and launched it no earlier than July 2012; a bank that is radical in nature and has made a global impact in terms of redefining business-as-usual in retail banking. Finalists listed in alphabetical order include:

BAI’s Innovation Circle Judging Panel is a hand-picked panel of distinguished thought leaders and retail banking professionals. It will select winners in each of the five categories, and honor one institution as the ‘Most Innovative Bank of the Year’.

Winners will be announced at the BAI-Finacle Global Banking Innovation Awards ceremony on November 12, 2014, at the BAI Retail Delivery Conference in Chicago, Illinois. BAI Retail Delivery, scheduled for November 11 – 14, 2014, is the premier retail banking conference in the world. It is attended by more than 3,000 financial services professionals, including retail banking organizations and financial technology and business solutions providers.

To learn more about the 2014 BAI-Finacle Global Banking Innovation Awards, visit www.baiglobalinnovations.com

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