Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, today announced the winners of the annual Infosys Finacle Innovation Awards 2023. 43 financial institutions from across the world were recognized for actively pursuing innovative strategies to differentiate themselves and maintain a competitive edge in the banking industry. Since its inception, the Infosys Finacle Innovation Awards program aims to celebrate and inspire innovations within the ecosystem of Finacle-powered financial institutions.

In its 8th edition, the Infosys Finacle Innovation Awards received over 200 nominations from banks across the world in 10 award categories, under the overall theme of ‘Inspiring Better Banking’.  The winners were acknowledged for outstanding initiatives that made significant impact on the banking industry in the following categories:

• Product Innovation
• Channel Innovation
• Maximizing Customer Engagement
• Corporate Banking Innovation
• Ecosystem-led Innovation
• Process Innovation
• Transformation Excellence
• Modern Technologies-led Innovation
• Business Model Innovation
• ESG-led Innovation category

The nominations were evaluated by a panel of experts comprising senior leaders from the banking and technology industry, based on innovation, benefit, and complexity quotients.

The full list of the recognized banks and details of their award-winning innovations is available here.

Sanat Rao, Chief Business Officer & Global Head, Infosys Finacle, said, “The significant number and diverse range of nominations received this year indicate the enduring commitment and emphasis on innovation by banks worldwide. The banking sector is undergoing unprecedented change, requiring banks to continually respond to market demands with customer-centric innovations in a bid to maintain their competitiveness and relevance. The Infosys Finacle Innovation Awards 2023 celebrates banks that prioritize innovation-led digital transformation. The nominees and winners in the awards program exemplify the relentless pursuit of the participating banks in delivering enhanced value to their customers and stakeholders. I extend my warmest congratulations to all the recognized banks and wish them continued success in 2023 and beyond.”

Greg O’Leary, Program Director, Digital Banking, Permanent TSB, said, “At Permanent TSB, we have been serving the needs of our customer for over 200 years with an ambition to be ‘Ireland’s best personal and small business bank’. Through our Digital Banking Transformation, we have sought to fundamentally improve the Customer Experience of our digital everyday banking offerings for existing and future customers. Our partnership with Infosys Finacle has enabled us to leverage their leading digital capabilities to build an exciting digital banking experience for our customers.”

Majid Muhammad, Chief Information Officer, Resimac Ltd., said, “Resimac’s business model composes value chains out of market capabilities. Applying this philosophy to our technology platforms, Resimac embarked on a multi-year, multi-vendor systems modernization and innovation program to provide a platform for future growth.  Partnering with Infosys Finacle gave the opportunity to scale our transformation and leverage industry-leading platforms and capabilities.  Implementing Finacle laid our future growth foundations and enables Resimac to deploy a significant uplift in digital capabilities to our customers.” 

Tammy TSE Pak Kin, Senior Vice President, Head of Information Technology, Fubon Bank HK Ltd., said, “Our Innovation strategy is centred around delivering exceptional experiences to our customers, and we have found that collaborating with Infosys Finacle has been instrumental in achieving this goal. Through this collaboration with Infosys Finacle, we have been able to leverage base product features available in the Finacle solution to create innovative products which meets our customer expectations and also ensure quick time to market. We look forward to Finacle helping us make ourselves into a more relevant bank for our customers’ growing digital needs.”