Infosys Finacle and Its Clients Win Multiple Awards at IBSi Awards 2023
IBS intelligence(International banking systems) is the world’s only pure-play Financial Technology focused research, advisory, and news analysis firm, with a 30-year track record and clients globally. We take pride in covering 2,000+ technology vendors globally – the largest by any analyst firm in this space. Infosys Finacle and its clients are recognized in multiple awards programs.
IBSi Global FinTech Innovation Awards
The IBSi Global FinTech Innovation Awards seek to identify and honor banks, financial institutions, and technology players for their excellence in driving impact through banking technology implementations and innovations using emerging technologies.. This year the fifth edition of edition had more than 250 nominations from 49 countries.
Three joint awards with our clients:
Punjab National Bank and Infosys Finacle
Category: Best Digital Channel/Platform Implementation: Best Adopted Tools and Practices
Punjab National Bank ensured a consistent and personalized customer experience across the channels, applications, and devices to onboard, sell, service and engage better. The bank upgraded its mobile application PNBOne where it offered best-in-class user experience. The bank leveraged Finacle Mobile Banking and Digital Engagement Hub to manage all channels of the bank from one place. With this the bank could provide pre-approved personal loans to users through mobile banking application, virtual debit card, simplified onboarding process and much more.
Union Bank of India and Infosys Finacle
Category: Best Digital Channel/Platform Implementation: Best Program Vision
Union Bank of India won this award for two of its digital initiatives, i.e., UVA (Union Voice Assistant) is a digital initiative that uses artificial intelligence (AI) and natural language processing (NLP) technologies to provide banking services through voice-activated devices, such as smart speakers, mobile devices, virtual assistants and UVConn (Union Virtual Connect) that offers a set of banking services in 7 different languages to NTB & ETB customers through WhatsApp by means of Bank’s WABA (WhatsApp Business Accounts) number. Both these services offer benefits like inclusivity, low wait times, faster resolution, improved customer engagement amongst others.
Khan Bank and Infosys Finacle
Category: Most Effective Digitization / Paperless Initiative: Best Project Implementation
Khan Bank, being the largest commercial bank in Mongolia, is responsible for carrying out financial transactions of more than 80% of the population. Bank’s Omni-Channel Hub (OCH) platform enables their customers to cover all their financial transactions, starting from day-to-day transfers to account management to insurance and bill payments. And with this initiative “OCH performance enhancement & containerization”, the bank has managed to solve a performance issue relating to the architecture of systems’ backends, including short-term performance boosting and long-term capacity enhancement transformation. Thanks to this initiative, the bank is maintaining a seamless system operation even throughout peak times such as pre-holiday upsurges.
Nikhil Gokhale, Director – Research & Digital Properties at IBS Intelligence, said, “Infosys Finacle has clinched three prestigious awards highlighting their exceptional track record of implementing advanced solutions across various banking institutions. These accolades stand as a testament to their exceptional performance and successful endeavours in elevating banking experiences through innovative solutions.” I would like to congratulate Infosys Finacle for winning in the categories of Best Digital Channel Implementation: Best Program Vision, Best Digital Channel Implementation: Best Tools and Practices Adopted, and Most Effective Digitization / Paperless Initiative: Best Project Implementation.
IBSi NeoChallenger Bank Awards
IBSi NeoChallenger Bank Awards recognizes and honor technology and BaaS vendors, NeoChallenger banks and the digital arms of traditional banks for their excellence in driving customer impact using innovative technologies.
Two Joint Awards with Nequi:
Nequi and Infosys Finacle
Category: Segment Winner | Consumer Banking with Nequi
Category: Regional Winner | Americas with Nequi
Nequi is a user-centric platform, designed after carefully understanding customers’ need for convenience, speed and personalization. With the surge in transaction volume overwhelming the on-premise system and causing increase in infrastructure and maintenance cost, Nequi decided to migrate to a containerized cloud-based architecture. Nequi Panama has shown improvements for user in terms of trust and better experience without disruptions of services since migration to Cloud. This new approach leverages auto-scaling, high availability, and cutting-edge technologies. The upgrade from Finacle version 10.6 to cloud-native version 11.11 was pivotal in this transition, unlocking numerous opportunities for the bank in terms of cloud compatibility and more. Both the bank and Infosys Finacle were recognized under the segment and the region for their efforts to make such a robust platform available to its customers.
Infosys Finacle and Nequi have revamped banking operations with a practical implementation approach. The move to a cloud-native system emphasizes improved customer experiences and operational efficiency. Achievements include a swift account opening process, digital services adoption, and the successful creation of over 20,000 new accounts within a year. This collaboration exemplifies pragmatic implementation and technological advancement, catering to the evolving needs of the banking sector.” said, Nikhil Gokhale, Director – Research & Digital Properties at IBS Intelligence. He congratulated Infosys Finacle and Nequi for their wins in NeoChallenger Bank Awards: Consumer Banking and Regional Winner: Americas’.
