Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, announced the winners of the annual Infosys Finacle Innovation Awards 2021. Close to 270 nominations were received from 50 banks globally, across ten award categories. An expert jury comprising global banking and technology leaders evaluated the nominations based on Innovation Quotient, Benefit Quotient and Complexity Quotient, to decide the winners. In its seventh edition, the award program recognized financial institutions across the world, for breakthrough innovations and novel approaches that create new value for their stakeholders.
Infosys Finacle Innovation Awards 2021 recognized initiatives that impacted the banking business across ten award categories - Product Innovation, Channel Innovation, Customer Journey Reimagination, Corporate Banking Digitization, Ecosystem-led Innovation, Process Innovation, Transformation Excellence, Modern Technologies-led Innovation, Business Model Innovation, and COVID Response Innovation. Given the backdrop of the global pandemic, the categories of Business Model and COVID Response Innovation, were newly introduced this year, reflecting the emergent operational and innovation demand on banks.
Commenting on the innovations nominated for the awards program, Sanat Rao, Chief Business Officer and Global Head, Infosys Finacle, said, “We are living in times of unprecedented change. An era that demands relentless customer-centric innovation to stay competitive and relevant. The Covid-19 pandemic has further pushed the situation into overdrive, forcing banks to embrace innovative business models, drive customer-centric value streams, and scale organizational capabilities for the digital era. The nominees and winners in the Infosys Finacle Innovation Awards 2021 clearly display efforts in this direction, creating some of the most impactful technology-led banking innovations around the world. The scale and variety of nominations this year indicate the sustained investment and focus on innovation by banks worldwide. My heartiest congratulations to all the recognized banks, and I wish them continued success in 2021 and beyond.”
John Carroll, Head of International and Transactional Banking, Santander UK, said, “Santander Global Connect allows us to help UK businesses of all sizes to seamlessly manage their international transaction and cash management banking needs, as well as to develop and grow relationships with existing customers and support the international growth needs of new customers. There has never been a more important and exciting time for businesses to consider international expansion. The tool is crucial to assist both customers and our own international banking strategy, now and in the future.”
Ravindra Pandey, Deputy Managing Director & Chief Information Officer, State Bank of India, Global IT Centre, said, “State Bank of India is proud of having launched uniform, user-friendly and feature-rich yono Global Mobile Banking application for the customers of SBI’s international operations, in eight countries so far. The technology change has already started globally where everything is evolving around mobility and mobile and Internet are becoming intrinsic part of our daily routine. We thank our tech partner, Infosys Finacle, for having converted our digital vision into reality. We are sure that our yono Global mobile application will meet our customers’ expectations of ‘Banking on the Go’ with ease and convenience.”
Anton Nicolaisen, Chief Executive, Standard Lesotho Bank, said, “Our future is towards being every person’s platform of choice that offers more than just financial services. This future-ready state requires technology that fuels innovation and ensures our services are safe, reliable, and convenient. Our innovation strategy puts our clients at the center of everything that we do, enabled by technology platforms, data environment, ecosystems, partnerships, and the workforce of the future. The cloud-native Infosys Finacle universal banking solution is therefore significant for the success of our strategy.”
