Infosys Finacle Client Innovation Awards 2020 – Winner Announcements

Finacle Client Innovation Awards program: These are exciting but tumultuous times for business. Ubiquitous digitization is giving way to fragmented value chains across industries. New technologies, new consumer expectations, new competitors and new regulations are challenging established business advantages on an ongoing basis. In this environment, enterprises must innovate continually to create value in order to enjoy sustained success.

The Infosys Finacle Client Innovation Awards program recognizes and celebrates the best of such innovations by clients around the world. These innovations have been carefully chosen for their impact on banking products and services, customer journeys, processes, distribution channels, and business models leading to additional revenue and profit for their respective banks.

The 2020 edition: Close to 300 nominations were received from banks, across eight award categories. This was the highest number of nominations since the awards program was instituted. The eight award categories are – Product Innovation, Channel Innovation, Customer Journey Reimagination, Corporate Banking Digitization, Ecosystem led Innovation, Process Innovation, Transformation Excellence and Modern Technologies led Innovation. An expert jury comprising of global banking and technology leaders evaluated the nominations on the basis of three criteria – Innovation Quotient, Benefits Quotient, and Complexity Quotient.

The winners include banks across six continents. The winning entries came from – incumbent and emerging banks; global, local and regional banks; traditional and digital-only banks – reflecting the universal focus on innovation.

Sanat Rao, Chief Business Officer and Global Head of Infosys Finacle – “The old adage ‘Innovate or perish’ has never been more applicable than now. Traditional banking business practices were already under scrutiny for relevance and business advantage, being challenged by emergent market forces. The ongoing global pandemic has further accentuated the situation, underlining the need for deep flexibility for adaptive innovation. The nominees and winners in the Finacle Client Innovation Awards 2020 clearly display that capability, creating some of the most impactful technology led banking innovations from across the world. The scale and variety of nominations this year, indicate the sustained investments and focus on innovation by banks across the globe. My heartiest congratulations to all the recognized banks and I wish them continued success in 2020 and beyond.”

Here is the list of recognized banks

Product Innovation
Bank Size Winner Initiative
Large Bank Standard Bank Digital Unsecured Lending
Mid-Size Bank IndusInd Bank Interactive Credit Cards
National Commercial Bank Jamaica Limited NCB Pay Advance Loan
Small Bank Bancolombia Nequi Lifesaver Loan
Liv. by Emirates NBD Liv. Digital Bank
Product Innovation
Bank Size Runner up Initiative
Large Bank Bank of India QRCash
Kotak Mahindra Bank Limited QuickCheck and Digital Vendor Financing Solution
Mid-Size Bank Federal Bank 4TiGo App, Selfie Account, BYOM, Bespoke Saving Account
Small Bank Cosmos Co-operative Bank Ltd Cosmo Care Product for Medical Emergency
Pan Asia Banking Corporation PLC Innovating with 'Rising Fixed Deposit'
Channel Innovation
Bank Size Winner Initiative
Large Bank Punjab National Bank PNBONE
Mid-Size Bank Al Ahli Bank of Kuwait Digital Channels Transformation
Bank Muscat Transforming Customer Engagements with Digital Channels
Small Bank Asia Green Development Bank Lifestyle Payment Application
Australian Military Bank Seamless Mobile Onboarding
Channel Innovation
Bank Size Runner up Initiative
Large Bank ICICI Bank Instabanking
Mid-Size Bank Andhra Bank Reimagining the Online Banking Experience
Bank Dhofar Delivering Consistent Customer Experience
Small Bank PT. Bank CTBC Indonesia Reimagining the Loan Origination Process
Customer Journeys Innovation
Bank Size Winner Initiative
Large Bank Bank BRI Ceria
ICICI Bank Money2World, iMobile, GST Bulk Payment
Mid-Size Bank Andhra Bank Chatbot – ABHi
Federal Bank Fed-e-Connect
Sampath Bank Plc Digital Quick Loan
Small Bank Shivalik Mercantile Co–operative Bank Customer Experience Transformation
The South Indian Bank Ltd Customer Journey Re-Imagination
Customer Journeys Innovation
Bank Size Runner up Initiative
Mid-Size Bank Sohar International Digital Wallet
Corporate Banking Digitization
Bank Size Winner Initiative
Large Bank ICICI Bank InstaBIZ and Automation of Turnover Commission report
Santander Corporate and Commercial Bank UK Reimagining Transaction Banking Experience
Mid-Size Bank Federal Bank Fed-e-biz
IDBI Bank Ltd Dynamic Virtual Account System
Process Innovation
Bank Size Winner Initiative
Large Bank ICICI Bank UPI Enabled Collection Process for Credit Cards and Loans
Mid-Size Bank Housing Bank of Trade and Finance IRIS Banking
Nations Trust Bank PLC Achieving Operational Excellence with RPA
Small Bank Kerala Gramin Bank KGB Assist
The Ernakulam District Co-operative Bank Ltd Enhancing Arbitration and Securitization Process
Process Innovation
Bank Size Runner up Initiative
Large Bank Axis Bank Automated Utilities for Efficient Transaction Process
Punjab National Bank E-Veda
Mid-Size Bank RBL Bank Automating Risk and Compliance Process
SBM Bank Mauritius Ltd Treasury Transformation
Small Bank Chaitanya Godavari Grameena Bank Financial Inclusion Led Process Reimagination
Modern Technologies led Innovation
Bank Size Winner Initiative
Large Bank ICICI Bank Reimagining Cross Border Payments with Blockchain
Mid-Size Bank Indusind Bank Banking with Alexa
Small Bank Golomt Bank of Mongolia Transforming with Modern Technologies
Shivalik Mercantile Co–operative Bank Achieving Digital Transformation on Cloud
Modern Technologies led Innovation
Bank Size Runner up Initiative
Large Bank Emirates NBD Transforming with IaaS
Union Bank of India APIM Program
Mid-Size Bank Al Ahli Bank of Kuwait Salary Process Automation and Payments Integration
Union Bank of the Philippines UnionBank API Developer Portal
Ecosystem led Innovation
Bank Size Winner Initiative
Mid-Size Bank Union Bank of the Philippines UnionBank Globallinker
Small Bank Paytm Payments Bank Ltd Creating a Marketplace
The South Indian Bank Ltd SIBermart
Ecosystem led Innovation
Bank Size Runner up Initiative
Mid-Size Bank RBL Bank Product Recommendation Engine
Small Bank DCB Bank Ltd Innovation Carnival
Transformation Excellence
Bank Size Winner Initiative
Mid-Size Bank IndusInd Bank Driving Women’s Economic Empowerment
Small Bank Community Bank Bangladesh Limited Achieving Digital Transformation in just 48 Days
Myawaddy Bank End-to-end Digital Transformation
Transformation Excellence
Bank Size Runner up Initiative
Mid-Size Bank IDBI Bank Ltd Digital Platform Upgrade
Indian Overseas Bank Automating Loan Account Opening

Quote excerpts from recognized banks:

Jayash Patel, Head of Liv. by Emirates NBD – “We are honored and absolutely delighted to be recognised for our efforts on a global platform such as Infosys Finacle. We congratulate and thank the incredible dedication, trust and support that we continuously receive from our customers and partners. As ongoing digital transformation continues to sweep across the financial sector, we look forward to continue to reimagine banking in the region by bringing innovation, finance and lifestyle together.”

Michael Vallance, Managing Director & Head of Transaction Banking, Santander Corporate and Commercial Bank – “We are delighted that Infosys Finacle has recognized Santander Corporate & Commercial for our digital transformation projects delivering new customer centric international and domestic payments services for our UK clients. Working with Infosys Finacle, we have redesigned our digital channels around our customers’ needs to offer a simple and informative payments experience. Our vision is to ‘use customer insights’ to provide proactive digital prompts and notifications, allowing our customers to make and manage their payments more efficiently and securely. By incorporating Infosys Finacle into our technology strategy, we have been able to create operating efficiencies across products and channels to accelerate digital transformation, introduce new customer features and take advantage of emerging technologies.”

Kaspar Situmorang, Executive Vice President, Digital Center of Excellence, Bank Rakyat Indonesia – “In the age of disruption, BRI as the largest bank in Indonesia by asset size, would like to pioneer with disruptive and revolutionary digital products. We have been using the robust Finacle Core Banking platform to support our digital lending app Ceria that is running on our virtual private cloud since 2019. Before BRI there were no banks in Indonesia that launched its own digital lending product. BRI was able to utilize the power of the new real-time fraud-detection service, credit scoring system, and Open Banking API to develop Ceria. Ceria is a mobile-first, self-service, end-to-end virtual credit card product for the underbanked millennials to purchase their desired product in e-commerce which cuts down loan originations to loan disbursement times from two weeks to two minutes all while improving the cost-efficiency of microfinancing by a third. BRI removed the pen and paper-based process through facial recognition and big data that was connected to Indonesian Government ID database. Making it the fastest credit approval in the market. Ceria has handled more 7,000 eCommerce transactions and disbursed more than USD 400,000 worth of loan. With more strategic partnerships in the pipeline, BRI is looking to see 2-3x incremental increase in loan disbursed and at the same time keep our achievement of ZERO NPL thanks to the utilization of machine learning for credit scoring.”

Craig Bouwer, Head Client Journeys, Personal and Business Banking Africa Regions, Standard Bank – “It is an honour for Standard Bank’s digital [unsecured] lending platforms to be recognized at the Infosys Finacle Client Innovation Awards 2020. As Africa’s largest bank by assets, we have undertaken to bring innovation to every aspect of our IT systems and the employee experience to enable rich interactions with our customers. Being able to reach customers across our African footprint in innovative and convenient ways is now more important than ever. Our partnership with Infosys is supportive of our vision to become a fully automated, and universal financial services organisation.”

Dennis D. Omila, Chief Information Officer, Executive Vice-President, UnionBank of the Philippines– “UnionBank’s ‘moonshot goal’ is to have 50 million customers in the next few years. The traditional systems of the Bank will not allow for us to service and scale up to this number. Therefore, the Bank has a unique strategy of leveraging on our institutional and corporate customers by harnessing technology to build ecosystem solutions. The whole bank strategy is built around this. Along with our digital transformation, we were known to have made the promise of ‘leaving no one behind’ – referring to both our employees and customers. Staying true to this promise has made us the ‘admirable’ organization that we are now. Our digital transformation is also not about having the cutting-edge technologies but putting the right technology at the service of our customers. Customer-centricity is still key to our innovation process as we strive to be at the forefront of creating products and experiences that have the ability to transform people’s lives. Infosys Finacle is not just a vendor or supplier for us. They have been a long-time partner of UBP, and partnerships are not possible without a common goal or objective. Infosys Finacle takes the time and effort to understand our strategic and business directions. They plan with us, they deliver on their commitment, and they are honest enough to say when it’s an area they can’t cover. Infosys Finacle has been instrumental in UnionBank winning the Best Digital Bank for 3 consecutive years. They are at the core of our digital transformation and through their solutions and services, we are able to launch key digital initiatives and scale. This year, we are excited for another round of transformation that should help shape the future of banking in the Philippines.”

Andrés Vásquez, Chief Executive Officer, Bancolombia Nequi – “Lifesaver is a low amount credit loan. It was designed by Nequi in collaboration with its users with the aim to support them when their salary is not enough for basics needs, such as transportation or food. This recognition made by the Finacle Client Innovation Program encourages us to keep supporting this initiative to benefit more people and help them be part of the financial system. In this way, it contributes to their credit experience, and complements their financial life as well as consolidate their economic capacity for the future.”

Shekhar Bhandari, Senior Executive Vice President & Business Head, Global Transaction Services & Precious Metals, Kotak Mahindra Bank Limited – “Kotak Mahindra Bank’s innovation strategy has been formulated keeping the customers’ requirements and experience at the locus of all decision making. This year we started putting up systems in place that could operate at scale and offer a complete digital experience to the clients. We have identified new opportunities in the digital space and creating structured solutions in line with customers’ requirements to act as enabler for business. We have enabled faster technology implementation at client’s end, quicker turnaround time and efficient service framework to support customers’ requirements. Along with innovations to improve the existing product capabilities and the channels through which the customer is able to access them, there is a clear focus on disruptive innovation by looking at ways of challenging the industry’s status quo. We have been key strategic partners for many years now. With Finacle as the core platform, we are able to introduce numerous initiatives and cutting-edge technologies which focus on completely transforming financial services for clients. We will continue to be long term partners and together will endure bringing more value to our organizational objectives of driving innovation and growth. We are honoured to be nominated as finalist at the Infosys Finacle Client Innovation Awards 2020. This year has been a year of innovations and digital transformations, thus helping corporates tear down the geographical boundaries and emerge as organisations leading the digital revolution. Finacle Client Innovation program has been designed to facilitate banks and financial institutions develop and incubate new products and processes for enhanced customer services, inculcate the habit of constantly striving to improve these services and providing an ecosystem to mutually share these ideas to a larger audience.”

Paytm Payments Bank spokesperson said, “We are pleased to be recognized for this prestigious award for innovation. At Paytm Payments Bank, our focus remains on launching innovative products & services to accelerate financial inclusion in our country.”

Ammar Al-Safadi, Chief Executive Officer, Housing Bank – “Housing Bank is committed to propelling digital transformation in Jordan by delivering products and services that leverage cutting-edge platforms and technologies, particularly those that liberate customers from security physical objects and security flaws. The Iris solution is a prime example of technology and user experience seamlessly integrating to improve both security and customer convenience”

Adrian Hobbs Senior Vice President, Technology Platforms and IT Operations, Emirates NBD – “Emirates NBD has been successfully collaborating with Infosys Finacle for over 14 years. We are glad and proud to be recognized by the Finacle Client Innovation Program with the award for the Modern Technologies led Innovation category. Introducing Infrastructure as a Service (IaaS) was one of our key transformation initiatives to revolutionize our infrastructure platforms with automated provisioning and CICD capabilities, along with modernizing and streamlining our processes for Change Management, Patch Management, Vulnerability Management and Demand Management. As a result ENBD can deploy a full Finacle Core Banking production instance in less than four hours.”

Topendra Bhattacharjee, Head – Digital Banking, Direct Banking & Analytics, RBL Bank – “Our customers continue to be the centerpiece of our channel innovation approach, with all our discussions being structured around designing seamless customer journeys. We rely heavily on Machine Learning algorithms to ensure the right choice of products for customers. Infosys’s established leadership and their expertise in this segment enables us to experiment and innovate. Both the teams at Infosys and the Bank are aligned towards delivering the best digital experience. With Infosys as our partner we are able to reinvent our banking solutions and offer new services with an omni-channel experience. We are proud to have been recognized at the Infosys Finacle Client Innovation Award 2020 and look forward to deliver many more innovations.”

Mangesh Jadhav, Vice President – Information Technology, RBL Bank – “Risk control is a cardinal virtue for our bank, and there can’t be a trade-off between risk and operational convenience or customer service. The daunting task faced by most in our industry is ensuring innovation without compromise on risk, and ensuring risk control without compromise on customer service. Our obsession to have achieved all three at the same time has led us to deliver this utility, which is innovative in its methodology and has added much needed risk controls in our core banking without any impact on customer service. We are thankful to Infosys for acknowledging us at this prestigious forum, this will boost teams to deliver many such innovations.”

Shalini Warrier, Executive Director and Chief Operating Officer, Federal Bank – “Federal Bank is privileged to be nominated as finalists in the Infosys Finacle Client Innovation Awards for 2020 for six of our solutions, notable of which are ‘FedeBiz – Integrated Transaction Banking Solution’, and ‘Be Your Own Master – BYOM’. This award is a recognition of Federal Bank’s commitment to the tenet ‘Digital at the Fore, Human at the Core’. Our passion for customer success powered by Infosys Finacle’s pioneering solutions will not end here. We look forward to our continued partnership with Infosys as we deliver innovative solutions to our customers.”

KT Venumadhav, General Manager, Andhra Bank (Now Union Bank of India) – “We feel happy and proud to know that Andhra Bank is being honored for the third consecutive year, at the Infosys Finacle Client Innovation Awards. Our more than a decade long relationship with Infosys has played a critical role in refocusing core business activities and providing simple banking and enhanced customer experience. It helped us in innovating solutions to all the challenges, be it, Process Automation, Digital Transformation, Demonetization or even COVID19. At its core, the journey had a fundamental redesign of how we engaged customers through change in process and technology delivering value to their relationship with the Bank. We thank Infosys for recognizing our efforts and honoring through awards for our products 1) BILLCOLL – ABECOLL, 2) Finacle online Banking Application and 3) Chatbot- ABHi.”

Enis Huseyin, Chief Information Officer, Australian Military Bank – “This innovation has been very meaningful for the bank as they move towards 60,000 members. The mobile on-boarding experience sets the member expectation, we wanted to clearly signal to a new member that they can expect a highly satisfying and effective banking relationship with us. The result of this work is a best of breed gateway into our business for all new members, including those sitting at the tech-savvy end of the spectrum, that delivers on an expectation of best practice user experiences. Infosys Finacle provided us with the benefit of deep aggregated experience in the sector to deliver a pleasingly frictionless on-boarding process that clearly positioned Australian Military Bank’s member first mindset.”

Asia Green Development Bank Spokesperson – “Bank’s Innovation Strategy is largely focused on providing delightful Client Experience at the optimal cost as Myanmar is an upcoming market with much smaller customer base as compared to rest of the world. It is a great moment to be recognized by one of the largest software company in the world. It also validates our approach towards innovation as Infosys itself is the symbol of Innovation. It was the key decision taken by our MD Htoo Htet Tay Za to go with Finacle Core Banking Solution as it provided a robust and scalable platform at the optimal cost. Infosys has been a great partner as it filled up with the adequate implementation and in time support. The response from Infosys has always been phenomenal.”

Ahmed Omar Al Ojaily, Group Deputy General Manager – Technology, Bank Muscat – “Bank Muscat is a leader in using technology to make financial services more efficient, secure and convenient for our customers. Technology advancements in the financial sector is changing the future of banking, and Bank Muscat has seamlessly progressed from traditional to innovative digital banking to enhance customer experience, re-engineer business operations and achieve growth. The Bank has successfully leveraged its ongoing partnership with Infosys to launch its new Omni-channel Internet and Mobile Banking experience, which has been well received and appreciated by our customers over the last few months since its launch. We are happy to partner with a global leader in next-generation digital services and consulting like Infosys to provide the best digital banking experience for our customers in an efficient, secure and convenient manner. Naturally, we are delighted that our successful implementation of this state-of-the-art technology has been recognized at the Infosys Finacle Client Innovation Awards 2020.”

Masihul Huq Chowdhury, Managing Director & Chief Executive Officer, Community Bank Bangladesh Limited – “Community Bank partnered with EdgeVerve and Infosys to offer cutting edge banking solutions to its customers. This greenfield CBS implementation took only 48 days to go live and we could proficiently onboard around 0.2 million customers during our inception; which has raised the bar for the banking industry. We are now delighted to receive the Finacle Client Innovation Award and I congratulate the project implementation team including our partners Edgeverve, BBSSL and ITCL for this achievement. This accolade will definitely encourage us to offer more innovative banking services in coming days.”

Prasanna Lohar, Chief Innovation Officer, DCB Bank – “Today organizations believe that continuous innovation is the key to competitive differentiation. Being an innovative organization means to create new ideas and realize them in the real world. DCB Bank Innovation Carnival that’s always on and sitting at the center of our continuous innovation agenda. DCB Bank Innovation carnival seeks to revolutionize the way banking & financial services are delivered by harnessing Innovation and Technology to enhance accessibility. It provides great environment for students, development communities, domain experts & start-ups to build Innovative solutions. By building effective collaboration through series of multicity hackathons and meetup with outside organizations, encouraging internal teambuilding and consulting with our customers, our innovations become not only unique but also meaningful too. This makes DCB Bank innovation Carnival unique innovation story in India.”

Sainbileg Mandakh, Chief information Officer, Golomt Bank – “Golomt Bank is honored and delighted to have been nominated for the Infosys Finacle Client Innovation Awards 2020. This award nomination is a testament of how Golomt Bank’s thousands of dedicated employees are striving towards improving the lives and help manage the finances of our customers through customer centric digital transformation. Throughout our continuous effort to provide our customers with the best services, Infosys Finacle’s exceptional architecture has always given us the means to do so and to be always pioneer in the market.”

IDBI Bank Ltd Spokesperson said “IDBI Bank Ltd. aims to be the Most preferred and trusted bank enhancing value for all stakeholders. Delighting customers with our Digital Banking services and comprehensive suite of Best in class Financial solution. IDBI Bank continues to lead in advanced technology platform in banking Industry by partnering with Infosys and migrating to a globally recognized banking solution – ‘Finacle 10x’. Finacle is like a glide on the racetrack of technology to accomplish performance in banking sector, while giving secured digital backbone for the business beyond boundaries.”

Biswabrata Chakravorty, Chief Information Officer, IndusInd Bank – “IndusInd Bank has always been a pioneer in its digital initiatives aimed at creating a best in class customer experience. Our projects nominated for the Finacle Client Innovation Awards 2020. are also testament to this. We have created a market for a duo card when there was none, we have created unique and seamless journeys towards digitisation of a less cash economy for accessing Banking services. We have deployed services at scale for straight through accounts, efficient and anytime withdrawal using AEPS and DMT payment APIs affording convenience to the rural and semi urban markets. We have been successful in onboarding the BC model on the back of the CSC network as well as been able to leverage the reach of BFIL (Bharat Financial, which has been merged with IndusInd Bank effective July 2019). These services give the customer unparalleled convenience using a simple and convenient experience. We thank Infosys for considering the projects for this prestigious award.”

Nadeen Matthews Blair, Chief Digital and Marketing Officer and Chief Executive Officer NCB Foundation “NCB recognizes that competitive advantage lies in being ‘first to market’ with financial solutions that maximize the use of technology and fit the various lifestyles of the customer segments that we serve. This has led to an innovation strategy that encourages employees, rewards new ideas, and manages and maintains a portfolio of innovation investments and initiatives over time. Our partnership with Infosys Finacle has been a rewarding experience. We have benefited from the team’s expertise, and their commitment to quality and customer satisfaction has helped us to deliver world-class digital financial services to our customers. We are honored to be recognized for the Finacle Client Innovation Award. This recognition has strengthened our resolve to continuously improve, innovate and provide delightful customer experiences.”

Mr. Yu Lwin, Chief Executive Officer, Myawaddy Bank – “Our journey with Infosys Finacle has provided us great opportunities to develop various customer centric products and value-added services. Moreover, we have witnessed significant operational benefits and cost efficiencies, along with enhanced security and scalability. The award is a testimony to our pursuit towards delivering breakthrough innovations in banking products, customer service, process design, and distribution channels, leveraging the Finacle platform. We feel honored and elated that our digital transformation has been recognized at this year’s Infosys Finacle Client Innovation Awards.”

Nations Trust Bank Spokesperson – “At Nations Trust Bank, our digital strategy hinges upon being simple, smart and inclusive. We are committed to digital transformation at both the frontend and backend and this has earned us the reputation of being Sri Lanka’s most progressive and digitally enabled bank. Our entry for the Infosys Finacle Client Innovation Awards 2020 is based on our implementation of the EdgeVerve AssistEdge RPA technology into numerous backend processes across our entire business. Through this implementation we have saved over 180 person-hours each month and reduced TATs by up to 50%, while increasing our capacities. We are proud to use Finacle for our core banking systems and for our core banking app. Partnering with Infosys Finacle has been an exciting, collaborative experience through which mutual learning was possible. Working with a team of competent professionals enabled us to ensure swift and effective implementation and rollout of the solution. We are incredibly proud to be one of the select few entrants to be recognized for our efforts towards digital empowerment at the Infosys Finacle Client Innovation Awards 2020.”

Gerald Wanigaratne, Head of Information Technology, Pan Asia Banking Corporation – “Pan Asia Bank’s innovation strategy is driven by a strong focus on identifying and anticipating customer requirements and delivering solutions that fulfills them. As such it is a process which starts with customer and then utilizes appropriate technology to deliver an efficient and simple solution. Experience of partnering with Finacle has been a rewarding one from a business perspective as well as educational perspective since the solutions and support that was provided to the bank has equipped us to develop solutions that have given us a competitive edge in the market. Being recognized at the Finacle Client Innovation Program is a great inspiration and an encouragement for us to further commit to be innovative in finding true value solutions to empower our customers.”

Ajith Salgado, Group Chief Information Officer, Sampath Bank – “As a pioneer in introducing technological innovations and advancements to the Sri Lankan banking industry, we at Sampath Bank are moving towards building a fully-fledged digital-only bank with expectation of providing greater and incomparable service for Sampath Customers. Our focus is to leapfrog to highest place in the market, through investing in futuristic technologies earlier than any of our competitors. In this technology driven digital journey of Sampath Bank, Finacle Core Banking System can be mentioned as the foundation and the contribution given by Infosys is tremendous. We should thank Infosys for recognizing our innovation and it is a great pleasure to being honored at the Infosys Finacle Client Awards 2020.”

Harsh Mittal, Chief Financial Officer, Shivalik Mercantile Co–operative Bank– “The Shivalik Bank team feels privileged to be recognized for its innovation capabilities as part of the Finacle Client Innovation Awards. Shivalik as an organization, aspires to be at the forefront of banking technology providing the best in class services to its customer base. Innovation is embedded in the mindset of all Shivalik employees and is driven by an urge to solve problems that the traditional banking system has been unable to cater to. Our teams are encouraged to think out of the box and challenge the norm constantly even to the extent of being unconventional. Our driving force is our belief that banking has to be available to every person in the country and only technology can make this possible in a scalable, cost effective and sustainable manner. Effective use of technology requires strong and capable partnerships. Our association with Infosys Finacle is one such partnership which has been based on innovation from the outset – being the first banking client of Infosys Finacle in India to deploy the core banking and digital banking suite on the cloud. We have found a willing partner in Infosys Finacle to understand our technology needs and deliver solutions that are right for us and are future proof. We are proud of our association with Infosys Finacle. Our teams have worked hard to undergo a complete technology transformation and upgrade over the last 12-18 months. The fact that three of our submissions have received acclaim from the Finacle Client Innovation Program which has received nominations from all parts of the world is testament to our teams’ hard work and innovative spirit. We would like to thank the jury for this recognition and events such as this re-energize our teams to continue pushing the boundaries in the coming year.”

The South Indian Bank Ltd spokesperson – “South Indian Bank has always strived to stay ahead of the technology curve, in an effort to deliver best-in-class financial products to the country. Our innovation strategy stitches together cutting-edge technologies and novel banking concepts to deliver last mile services to our clientele. Our in-house teams, in collaboration with our technology vendors, have been creating and optimising our digital infrastructure, steering the bank’s digital growth. The bank’s vision for digital transformation aims at optimising our customers’ banking experience, while cutting down on operation costs and future-proofing our systems in this era of disruptive technologies. We have been successful in creating excellent customer touch points by harnessing the power of digital technologies and a quintessential example of this is SIBerMart, our e-commerce shopping engine. SIBerMart lets our customers identify, compare and choose the best deals for the same product from different e-commerce websites, while enjoying cashbacks provided by the bank. South Indian Bank was one of the first organizations in India to adopt Finacle, back in 2000. We consider the award as a testimony to our continued efforts in providing banking excellence to our customers.”

Sanuraj P S, Deputy General Manager, The Ernakulam District Co-Operative Bank Ltd – “Innovation is a transformation that unlocks new value into the system. Driving with Infosys Finacle for the last two decades, we have witnessed a lot of highlights and achievements in our banking business. It enables us to become a pioneer in bringing technology-enabled products & services to customers of co-operative sector. Being a winner at the Finacle Client Innovation Award Program-2020, it is a great inspiration to find out more about transformation & innovation in the journey ahead.”

Vairam Somasunderam, General Manager, Indian Overseas Bank “We at the Information Technology Department of Indian Overseas Bank believe in ‘Innovation Everywhere’ strategy to deliver continuous improvement in our deliverables to enhance user experience. Our ambitious teams always strive for ‘What’s Next’ by interacting with Business users, Customers and Fin-Techs to drive innovation as a culture within the organization. The shift from In-house proprietary CBS to commercial off the shelf CBS model was a significant transformation decision undertaken by our Bank during 2015. The choice of the right technology – Finacle from Infosys has made it a cherished journey. The team spirit exhibited by the Infosys’s Finacle product team all through this journey has been appreciable considering the quality of support and solutions provided to glide through various challenging business requirements. We are delighted to be an awardee at Finacle Client Innovative Program’2020 and appreciate the initiative of Infosys to recognize the innovative spirits through these events. We are sure that such events will kindle the minds to bring out more innovative use cases for the benefit of the user community, while reiterating the openness and robustness of Finacle framework to meet the ever-growing unique business needs.”

Kerala Gramin Bank spokesperson – “Kerala Gramin Bank strives to offer technology enabled banking services to all its customers. Though we are a Regional Rural Bank, our client base constitutes customers from both rural and semi urban populations alike. The bedrock of our innovation strategy is to provide banking services to all strata of society which is backed by the latest technologies that are available in the present banking scenario with a human touch. The Bank has been using Finacle as the Core Banking solution for about a decade. The solution is a fool proof one that emphasizes a great deal on performance, reliability and robustness. This has offered us a seamless experience in computerized banking. The Bank is also using the latest version of Finacle Online Banking Application as the Internet Banking Solution. We take immense pride that our product, KGB Assist is recognized at the Finacle Client Innovation Program. KGB Assist is a completely in house developed data driven mobile application that offers a lot of tools required by our bankers in their business development activities. Kerala Gramin Bank is the first Regional Rural Bank to have such an application, and the product is unique and first of its kind in the banking industry. We feel that the recognition of this innovative product at the Finacle Client Innovation program is yet another feather in the cap of our Bank.”

T Kameswara Rao, Chairman and Dr B V Ramanarao, General Manager, Chaitanya Godavari Grameena Bank (Andhra Bank (RRB) – “Our Bank’s innovation strategy is aligned with all the business processes of the bank, leveraging technology to achieve competitive advantage and bank’s objectives. Here in this case FI Gateway Integration with Finacle CBS made our digital product offerings perform better and more reliable for customers from the countryside. In 2010 CGGB implemented Infosys Finacle, as Core Banking Solution. Since the nascent stage of our Finacle CBS on boarding, Infosys has been instrumental as technology service provider to sail through various phases of Bank’s business forward, in terms of business which has increased by 6 times, embracing all the new technology products such as all the NPCI products like Aadhar Enabled Payment Systems, Rupay cards, eCommerce, PoS, NACH, CTS, ATMs, Mobile banking, PFMS, and the trending UPI etc,. in Fin Tech sector thus enabling us to have pioneer position on digital front. CGGB is profoundly delighted to get recognized at this prestigious Finacle Client Innovation Program. Participation in this event shall stand as a testimonial to our bank’s continuous efforts in improving our IT products/applications thus increasing operational efficiency in delivering digital products for our customers.”

Arti Dhole, Chief Information Officer, Cosmos Bank – “Innovation continues to be the theme for the Cosmos Bank, being a prominent technology driven bank in the banking industry. We take great pleasure to share this moment of glory for the bank and feel proud to be receiving the Infosys Client Innovation award 2020 for Customer Service innovation for our Cosmo Care Product for medical emergency. It is indeed a moment of pride for all of us!!”

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