Winners of Infosys Finacle Client Innovation Awards 2019 Announced

Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys has announced the winners of the Infosys Finacle Client Innovation Awards 2019. In its fifth edition, the awards recognize banks that deliver breakthrough innovations in banking products, customer service, process design and distribution channels capitalizing on Finacle solutions.

With over 250 nominations received across eight categories, this year saw the highest number of nominations – more than 50% over the last year. The eight award categories include - Product Innovation, Channel Innovation, Customer Service Innovation, Process Innovation, Innovative Custom Components, Accelerated Transformation, APIs led Innovation and Emerging Technologies-led Innovation.  The nominations were evaluated by an expert jury on the basis of three criteria – Innovation Quotient, Benefits Quotient, and Complexity Quotient.

Applauding the innovative initiatives taken by various banks leveraging the Finacle platform, Sanat Rao, Chief Business Officer and Global Head of Infosys Finacle, said, “We are living in an era of unprecedented innovation. Ubiquitous digitization is changing the industry’s business models and competitors globally. In these times, continuous and value-focused innovations are the key drivers for long term success. The Finacle Client Innovation Awards program recognizes and celebrates such exemplary innovations introduced by Finacle clients globally. The year-on-year increase in the number of nominations, is a testimony to heightened focus on innovation and customer value in our industry. On behalf of Infosys Finacle, I congratulate all the winners and applicants, and wish them continued success.”

The winners are:

Category: Accelerated Transformation

Category: API led Innovations

Category: Process Innovation

Category: Innovative Custom Components

Category: Customer Service Innovation

Category: Product Innovation

Category: Emerging Technology led Innovation

Category: Channel Innovation

Quotes:

Ajit Kumar Rath, Executive Director, Andhra Bank - “We are delighted to know that Andhra Bank is being honoured at the Infosys Finacle Client Innovation Awards 2019 for our new initiatives. At our Bank, we always aim at developing innovative and differentiated products for enhancing customer experience.  Our journey with Infosys Finacle for more than a decade has provided us great opportunities to develop various customer centric products and value added services. Our goal is to enable user friendly and simple banking experiences to customers, improving turn-around-time of services and achieving efficient internal operations by leveraging technology platforms. We thank Infosys for recognizing our efforts in Process Innovation, Accelerated Digital Transformation and Emerging Technologies led Innovations.”

Leigh Gibson, Tech Area Lead, Customer Self Service (CSS) Tribe, ANZ Bank -“Infosys Finacle and ANZ Bank have been key strategic partners for over 10 years. We are currently working on a significant upgrade to our internet banking platform and it is exciting to continue collaborating by creating more shared services, leveraging containerization, increasing automation and building out our CI/CD pipeline. The recognition of our work with Mountebank, and co-contribution of code back into the Open Source community by ANZ Bank and Infosys is also a great step forward in energizing our engineering culture.”

John Ford, Chief Executive Officer, Australian Military Bank - "The Australianised Finacle banking suite, implemented in a fully Software as a Service (SaaS) model has provided Australian Military Bank (AMB) with significant operational benefits and cost efficiencies, along with enhanced security and scalability. Twelve (12) months on from go live, AMB is well positioned to utilize the open Application Programming Interfaces (APIs) and cloud based infrastructure to provide further efficiencies; which will result in quicker turnaround times for members, automating routine activities to free up staff to take on more challenging work and, having the ability to integrate with open source APIs which will enable our bank to realize its strategy of being a digital first modern banking institution.”

Abu Baker Karim Bakhsh Dad Karim Al Balushi, Head of Information Technology, Bank Dhofar - “At BankDhofar, we place customer experience at the top of our priorities and strive to be the best bank for our customers at all times. We achieve this through continuous innovation and by leveraging technology. Our vision to be the best bank in the Gulf and our transformation journey is centered around the customer. We are proud and happy to receive an Infosys Finacle Client Innovation Award 2019. This means a lot and reaffirms that we are on the right path.”

Sheoji Ram Meena, General Manager (IT) and Chief Information Officer, Bank of India - “It gives us immense pleasure to be a part of the Infosys Finacle Client Innovation Awards 2019. Bank of India takes this opportunity to thank Infosys Finacle for this recognition. It is our endeavor to constantly introduce innovative and customer friendly products thus making banking operations simple and secured. With the flexible architecture of Finacle, we could do numerous customizations around the Core Finacle.  We would like to keep on record the entire team of Infosys for their continued and timely support.”

Kaspar Situmorang, Executive Vice President, Digital Center of Excellence, Bank Rakyat Indonesia - “With the presence of Pinang, Bank BRI Group is able to reach more volumes of customers in Indonesia at high speed (from application to disbursement in less than 10 minutes without a face to face meeting). Pinang is BRI’s radical innovation catering to ultra-micro customers creating a seamless and economical on-boarding process. The reimagined process provides a faster, cheaper and safer digital lending in Indonesia. With the persistent support of the Infosys management and the robust Infosys Finacle digital banking suite, BRI’s vision of accelerating Indonesia financial inclusion is one step closer.”

Ahmed Al Musalmi, Chief Executive Officer, Sohar International (formerly Bank Sohar) -"With a deep understanding of global dynamics and trends, our bank has embarked on a new journey to transform banking beyond the mere provision of financial services to become a leading Omani service company that helps customers grow and prosper. With many milestones already achieved in a short span of time as part of our new five-year strategy, we are truly delighted to be recognized by Infosys Finacle Client Innovation Awards 2019. This achievement is a reflection of our new brand personality of being Sharp, Human and Unstoppable, and our spirit of innovation and entrepreneurship to bring the best of the world to our customers, offering them more velocity, more value and more vision in an ever-changing world.”

DOMINGO "Jan" DAYRO JR, Vice President & Head Cash Management Services Division, China Banking Corporation (China Bank) - “ChinaBank is honored to have been selected as a finalist at the Infosys Finacle Client Innovation Awards 2019. With Finacle as the core platform, my team is able to create industry-leading and innovative services that are anchored on providing the best services to the customers that we serve. Our Automated Tax Payment Solutions leverages Finacle's interoperability capabilities resulting in streamlined collection tax forms at the Branches and Head Office units of ChinaBank while providing straight-thru processing for our targeted customers.”

B Omanakuttan, General Manager, The Ernakulam District Co-Operative Bank Ltd - "A dream becomes a reality when action is taken towards its achievement. The Ernakulum District Co-Operative Bank has been revolutionizing the co-operative banking space leveraging technology in association with Infosys Finacle since last 15 years. The bank has become a paradigm in bringing technology-enabled products and services to customers. Definitely, this recognition from Infosys will inspire us to drive more innovations and digital transformations in banking.”

Shalini Warrier, Chief Operating Officer, Federal Bank - “Federal Bank is a pioneer in path-breaking digital innovations and efficiently utilizes technology to meaningfully leverage its operations. Over the years, the Bank has transformed itself into a technologically innovative organization that offers services beyond par. ‘Digital at the Fore, Human at the Core’ has been one of our guiding mantras in our endeavor to create delightful customer experiences. In partnership with Infosys, the Bank has been able to create several innovative financial products and this award from Infosys recognizes one of such products. We will continue to raise the bar and script new success stories on the wings of technology.”

Sainbileg Mandakh, Director of Information Technology, Golomt Bank - “Golomt Bank is honored and delighted to have been nominated for the Infosys Finacle Client Innovation Awards 2019. This award nomination is a testamen