Retail Banks Honored for Game-Changing Innovations that Improve Profitability, Efficiency and Customer Experience
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 the 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 the 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 implemented a program or service, completed and launched no earlier than July 2012, 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:
“The innovation and accomplishments of this very esteemed group of organizations is truly inspiring,” says Debbie Bianucci, president and chief executive officer, BAI. “With more than 200 nominations from over 30 countries across the world, the BAI-Finacle Global Banking Innovation Awards recognize the impactful, valuable solutions and processes organizations have created in their quest to better serve their customers and grow through innovation.”
“These winning banks are redefining banking. They are delivering innovative products and services that create new and improved experiences for customers that increase profitability and efficiency,” says Haragopal M., senior vice president and global head of Infosys Finacle. “We are pleased to recognize these pioneers who share our view that innovation underpins success in banking.”
BAI’s Innovation Circle Judging Panel, a hand-picked panel of distinguished thought leaders and retail banking professionals will select winners in each of the five categories as well as honor one institution as Most Innovative Bank of the Year.
Winners will be announced at the BAI-Finacle Global Banking Innovation Awards Ceremony on November 12, at the BAI Retail Delivery Conference in Chicago, Ill. BAI Retail Delivery, scheduled November 11-14, 2014, is the premier retail banking conference in the world, attended by more than 3,000 financial services professionals including retail banking organizations and financial technology and business solutions providers to these financial institutions.
BAI is the financial services industry’s resource 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.