Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys, today announced the winners of the annual Infosys Finacle Client Innovation Awards 2020.
In its sixth edition, the awards recognize breakthrough innovations in digital banking and their impact on key banking business areas.
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.
Commenting on the innovation stories nominated for the awards program, Sanat Rao, Chief Business Officer and Global Head of Infosys Finacle, said, “The old adage ‘Innovate or perish’ has never been more applicable than now. Traditional banking business practices were already under scrutiny for relevance and competitive advantage, 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.”
“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,” Michael Vallance, Managing Director & Head of Transaction Banking, Santander Corporate and Commercial Bank said.