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BAI Announces 2018 Global Innovation Award Finalists and Launches New People’s Choice Award

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BAI announced the finalists for the 2018 BAI Global Innovation Awards, the industry’s most prestigious awards program that unveils the most transformative solutions in the financial services industry worldwide. BAI also launched the new People’s Choice Award where voters throughout the industry will select which innovation is the most powerful among the BAI Global Innovation Award finalists.

Now in its eighth year, the BAI Global Innovation Awards recognizes industry leaders and showcases what leading financial services innovators in all regions of the world are doing to deliver new value to customers and employees and improve efficiencies and profitability for their organizations. Each nomination is evaluated by the Innovation Circle. These judges weigh each innovation on originality and impact on consumers and the industry. The BAI Global Innovation Award winners will be announced in August and celebrated at BAI Beacon in Orlando, Fla., on Oct. 9–11.

For the first time this year, BAI Global Innovation Awards will include a People’s Choice Award. Finalists from several key award categories are contenders for the award, and voting is now open. While BAI Global Innovation Awards finalists compete for this industry recognition, voters have an opportunity to participate and learn about innovation shaping the future. One winner will be selected for the award, which will also be announced and celebrated at BAI Beacon.

 

The 2018 BAI Global Innovation Awards finalists are:

 

Best Application of Data Analytics, AI or Machine Learning in a Product or Service

First National Bank, Johannesburg, South Africa: Robo-Advice Tool for Life Insurance
Jibun Bank Corporation, Tokyo, Japan: AI Support Tool for Foreign Currency Deposits
OneConnect Smart Technology Co., Ltd. (Shenzhen), Shanghai, China: AI Verification using Insure Tech
Ping An Technology, Shanghai, China: Emotion Recognition Based Financial Risk Management System
 

Innovative Touchpoints and Connected Experiences

CaixaBank, Barcelona, Spain: CaixaBank Now App
HDFC Bank Limited, Mumbai, India: HDFC Bank Mobile Banking Card
mBank S.A., Warsaw, Poland: Breakthrough Customer Experience in Distribution of Banking Products
USAA, San Antonio, Texas, U.S.: IVR to Digital Channel Shift
 

Internal Process Innovation

DenizBank, Istanbul, Turkey: Internal Fraud Defence
Live Oak Bank, Alpharetta, Ga., U.S.: 100 Percent Re-Invention to Cloud Service Operations for Boundaryless Anytime-Anywhere Employee Enablement
Royal Bank of Canada (RBC), Toronto, Canada: RBC Blockchain Shadow Ledger for Cross-border Payments
 

Innovation in Societal and Community Impact

KASIKORNBANK PLC., Bangkok, Thailand: KPLUS Beacon – Mobile Banking Application for the Visually Impaired
Nova Credit, San Francisco, Calif., U.S.: The World’s Premier Cross-Border Credit Bureau
Rukula (Pvt) Ltd, Columbo 5, Sri Lanka: Micro-Credit for Consumer Product Purchases in Sri Lanka for the Financially Underserved
USAA, San Antonio, Texas, U.S.: Aerial Imagery Tool
 

Innovation in Customer Experience

Arion Bank, Reykjavík, Iceland: Digital Mortgage Process
Bank of America, Charlotte, N.C., U.S.: Meet Erica: Bank of America's New Virtual Financial Assistant
Best Innovation Group, Oak Ridge, Tenn., U.S.: Financial Innovation Voice Experience (FIVE)
NovoPayment, Miami, Fla., U.S.: Embedding FinServ in Gig Value Chain
 

Human Capital Innovation

Albaraka Turk Participation Bank, Istanbul, Turkey: Yourunge Project
DenizBank, Istanbul, Turkey: HR in a pocket
Fifth Third Bank, Cincinnati, Ohio, U.S.: Maternity Concierge
Intesa Sanpaolo, Turin, Italy: ISP Digital Learning – Portal and Smartphone App to Learn Anytime, Anywhere
 

Innovation in Marketing

CaixaBank, Barcelona, Spain: imaginCafe
DenizBank, Istanbul, Turkey: Denizbank Credit X
Intesa Sanpaolo, Turin, Italy: XME Conto UP! Marketing Campaign: the New Relationship Between Young People and Intesa Sanpaolo
Turkiye Is Bankasi A.S., Istanbul, Turkey: Isbank's Self-Learning Marketing Hub
 

Innovative Accelerator or Incubator

Albaraka Turk Participation Bank, Istanbul, Turkey: Albaraka Garaj Acceleration Center
Arion Bank, Reykjavík, Iceland: Digital Future - Internal Accelerator
Emirates NBD, Dubai, United Arab Emirates: Emirates NBD 3D Open Innovation Boost
 

Wild Card Honorable Mention

DBS Bank, Singapore: DBS API (application programming interface) Developers’ Programme
FARFA Foundation, Chiniot, Pakistan: FARFA BLT Incubator
 
Additionally, all nominees are considered for BAI’s Outstanding Achievement Awards. The finalists for the three honors are:
 

Disruptive Innovation in Financial Services

Nova Credit: The World’s Premier Cross-Border Credit Bureau
NovoPayment: Embedding FinServ in Gig Value Chain
USAA: Aerial Imagery Tool
 

Outstanding Use of AI in Financial Services

Jibun Bank Corporation: AI Support tool for Foreign Currency Deposits
OneConnect Smart Technology Co., Ltd. (Shenzhen): AI Verification using Insure Tech
Ping An Technology: Emotion Recognition Based Financial Risk Management System
 

Most Innovative FinServ of the Year

Arion Bank, Iceland
CaixaBank, Spain
DenizBank, Turkey
USAA, U.S.
 

To learn more visit BAIGlobalInnovations.com.

About BAI

As a nonprofit, independent organization, BAI delivers the financial services industry’s most actionable insights, enabling leaders to make smart business decisions every day. BAI is passionate about the trusted information and powerful tools that provide leaders with the clarity and confidence needed to drive positive change and move the industry forward. For more information, visit www.bai.org.

Contact information

BAI
Jennifer Divelbiss, +1-312-683-2346
jdivelbiss@bai.org

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