CHICAGO, IL--(Marketwired - Aug 26, 2013) - BAI and Infosys, a global leader in consulting, technology and outsourcing, today announced the finalists of the 2013 BAI - Finacle Global Banking Innovation Awards. The global awards program, now in its third year, recognizes innovation in the retail banking industry that positively impacts customer experience, bank efficiency and profitability. Twelve financial institutions from around the world were chosen for their breakthrough innovations. Four categories of finalists are represented in 2013, including two new categories that celebrate game-changing achievements in key areas of innovation.
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 which have benefited the organization and the customer experience by providing greater accessibility and convenience. These can be for existing channels (such as branch, ATM or mobile) or new ones. Finalists listed in alphabetical order include:
The Innovation in Internal Process Improvement Award is a new category this year. It recognizes retail financial institutions that have made a significant investment in internal processes to improve the overall customer experience, including cultural transformations or more customer-centric products, services or delivery channels. Finalists listed in alphabetical order include:
Also new for 2013, 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 alphabetic order include:
- Equity Bank Ltd. (Kenya)
- Standard Bank of South Africa (South Africa)
- UnionBank of the Philippines (Philippines)
This year's finalists represent the innovative spirit of global retail banks which continue to improve the customer experience through advancements in products, delivery channels and accessibility. "The commitment to innovation and originality of the finalists is remarkable," says Debbie Bianucci, president and chief executive officer of BAI. "This year, with more than 200 nominations submitted from over 30 countries, we continue to be inspired by the rich diversity of solutions and processes represented in the program. These finalists exemplify the best of the best from around the world that enhance the customer experience, increase bank efficiency and grow profitability through innovation. We congratulate this select group for their significant accomplishments."
"Infosys applauds these innovative banks as they work to transform the financial services industry," says Haragopal Mangipudi, Global Head ‐ Finacle, Infosys. "At Infosys, innovation is part of our DNA. This is one of the reasons why we are so committed to recognizing and rewarding global banks that forge new territory. Congratulations to this year's finalists and winners."
BAI's Innovation Circle Judging Panel, a distinguished international group of prominent industry thought-leaders and retail banking professionals, will select winners in each of the four categories. The panel also will select an award winner for the most disruptive innovation as well as honor one bank as an overall top innovator.
Winners will be announced at the BAI and Finacle Global Banking Innovation Awards Ceremony on November 5, at the BAI Retail Delivery Conference in Denver, Colo. BAI Retail Delivery, scheduled November 5-7, 2013, is the retail banking industry's premier annual conference and expo that draws thousands of senior-level bank executives from more than 40 countries. To learn more about the 2013 BAI - Finacle Global Banking Innovation Awards, visit www.baiglobalinnovations.com.
BAI is the financial services industry's partner for breakthrough information and intelligence needed to innovate and stay relevant in an evolving marketplace. For more than 85 years, BAI has focused on advancing the industry by offering unbiased education and research. BAI's offerings are as diverse as the industry, and include premier events such as BAI Retail Delivery Conference & Expo, groundbreaking research and performance metrics, professional learning and development programs, and in-depth editorial coverage through BAI Banking Strategies. For more information, visit www.bai.org.
Infosys is a global leader in consulting, technology and outsourcing solutions. As a proven partner focused on building tomorrow's enterprise, Infosys enables clients in more than 30 countries to outperform the competition and stay ahead of the innovation curve. With $7.4bn in annual revenues and 155,000+ employees, Infosys provides enterprises with strategic insights on what lies ahead. We help enterprises transform and thrive in a changing world through strategic consulting, operational leadership and the co-creation of breakthrough solutions, including those in mobility, sustainability, big data and cloud computing.
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