Celent recognized Emirates NBD’s millennial focused digital-only bank Liv. and Australian Military Bank’s digital transformation on cloud in the recently held Innovation and Insights Day. Celent Model Bank is awarded for best practices of technology usage in different areas critical to success in banking. In its thirteenth year the annual program in 2020 was again incredibly competitive with many institutions from across the world submitting nearly 140 nominations.
Emirates NBD Liv. – The Best Digital Bank
Emirates NBD Liv. is UAE’s fastest growing bank and the first digital-only lifestyle bank in the country. The millennial focused bank’s unique features include instant account opening with #nopaperwork and real time access to insightful financial data and transaction history to empower customers to better manage their finances. Liv.’s proposition is supported by a group of partner brands, enabling it to offer customers a range of personalized lifestyle products and services. Liv. was awarded “The Best Digital Bank” for driving a compelling digital-only proposition leveraging the Finacle Core Banking solution. This is the third consecutive year that a digital-only bank powered by Finacle at the core has been recognized as the “Best Digital Bank” by Celent, as a part of their Model Bank Awards.
Australian Military Bank – Cooperative Bank Transformation
Australian Military Bank is one of the most progressive Community Banks in Australia. It’s a niche institution dedicated to serving Australian Defence personnel and their families with products and services tailored to their needs, based on a keen understanding of life in the armed forces. To drive its digital-first strategy, AMB collaborated with Infosys Finacle to implement the complete technology stack, including core banking, origination, payments, online and mobile banking that delivered feature-rich digital functionality on private cloud via SaaS. In just few months post transformation, the bank has witnessed benefits such as 250% growth in mobile banking transaction. In addition, the bank today is equipped to digitally onboard customers in just few minutes. Australian Military Bank was awarded for transforming itself into a modern, nimble, new age digital bank.