Efma and Accenture announce winners of the 2019 banking innovation awards in APAC

Five banks from Singapore, South Korea, Thailand, and the Philippines were announced as winners of the Efma-Accenture CIG Banking Innovation Awards in APAC. These awards recognize innovative projects in retail banking distribution and marketing. The awards were presented today during a panel session at Efma’s Retail Banking Summit in Asia.

Publish date: 07 November 2019
Author: Accenture
Theme : Innovation

Showcasing the brightest examples of innovation across multiple categories, winners were chosen from the 70 nominees of this year’s global CIG Banking Innovation Awards 2019.

The winners of the CIG Banking Innovation Awards in APAC:

HSBC Bank (Singapore) won the digital APAC Digital Marketing award for their Visa Platinum Credit card (VPC) relaunch. HSBC reframed the VPC card proposition to add in unique rewards around kids and other family perks to enable Singaporeans families to spend better quality time together.

KEB Hana (South Korea) won the Offering Innovation award for their Global Loyalty Network (GLN) program. GLN is a global payment hub that links major financial institutions, retailers, and loyalty point operators to a unique global network allowing users to freely pay and transfer digital assets to one another.

Krungsri Bank (Thailand) won the Phygital Distribution award for Krungsri Digital Homeloan. The initiative offers a better customer experience during the mortgage journey using “Di-Sales” and connecting it with the home buying journey using “Krungsri Homeloan Connect.” The sales tool makes the customer journey into the home ecosystem a much smoother and more seamless process.

Unionbank of the Philippines won the Social, Sustainable, and Responsible Banking award for its Retail Financing Program. Retail Financing Program is a digitized, end-to-end solution that provides micro working capital loans for Sari-Sari (neighborhood) store owners.

DBS Bank (Singapore) won the Workforce Experience award for Jobs Intelligence Maestro (JIM). JIM is a custom-built artificial intelligence-based tool that addresses time-consuming and repetitive tasks for DBS recruiters. By automating the pre-screening process, JIM enables recruiters to spend more time sourcing candidates, interviewing applicants, and focusing on talent advisory.

The winners were selected by a panel of judges comprising experts from the industry worldwide. Each entry was assessed using three criteria: its originality; its strategic capacity to generate long-term competitive edge and return on investment; and its adaptability for use in other markets and countries.

“The winners of our CIG Banking Innovation Awards in APAC are utilizing digital capabilities to create more inclusive bank offerings that ensure the financial needs of citizens and businesses in the region are met,” said Vincent Bastid, Efma’s CEO. “I want to congratulate this year’s winners for their great achievements that demonstrate the best in innovation in the APAC region.”

To find out more about the award-winning innovations, visit www.efma.com/innovations