BAI Honors High-Impact Innovations in Financial Services with 2020 Global Innovation Awards

Today BAI announced the winners of the 2020 BAI Global Innovation Awards, the industry's prestigious awards program that celebrates new and innovative solutions in the financial services industry worldwide.

Celebrating its tenth year, the BAI Global Innovation Awards recognizes leading financial services organizations on a global scale. Each winner is selected by the Innovation Circle, a panel of international financial services innovation leaders, who evaluate each submission for originality and impact to determine the most innovative companies across eight awards categories. This year's winners have used new and existing technology and other resources to build creative solutions that are customer-centric, highly relevant and impactful.

"Our BAI Global Innovation Award winners clearly demonstrate a strong commitment to innovation that is laser-focused on the customer with an emphasis on being relevant in delivering valuable solutions and better experiences," said Debbie Bianucci, president and CEO of BAI. "These financial services companies have built a culture of innovation that champions their commitment to innovation for their customers, even in the face of challenging pressures. The commitment starts at the top but successfully permeates all levels of the organization to maximize impact on the customer. Importantly, they understand the economics of innovation and measure return in terms of long-term value, which is a perspective that can make all the difference in successful customer-focused innovation."

The 2020 BAI Global Innovation Awards winners are:

Consumer Products or Services Innovation

• FNB Life, South Africa: Dynamic Life ? Home

Customer Experience Innovation

• Bank of Montreal, Canada: BMO AI Cashflow Prediction

Human Capital Innovation

• Citizens Financial Group, United States: Jamie Virtual Career Assistant

Internal Process Innovation

• CaixaBank S.A., Spain: The New Mobility Section at Now

Marketing Innovation

• Emirates NBD Bank, United Arab Emirates: Emirates NBD Anti-Phishing "It Wasn't Me" Campaign

RegTech Innovation

• Ping An Technology (Shenzhen) Co., Ltd., China: Pingan Beehive Federated Intelligence Platform

Small Business Products or Services Innovation

• Banco Bradesco, Brazil: Open Banking Initiative: Portal MEI, Solutions for the Individual Micro Entrepreneur

Societal and Community Impact Innovation

• Woodforest National Bank, United States: Woodforest CEI-Boulos Opportunity Fund

BAI and the Innovation Circle judges also acknowledged the heroic efforts of financial services organizations throughout the industry to meet the needs of their customers, colleagues and communities during the COVID-19 pandemic. Many of this year's submissions demonstrated how financial services leaders responded with speed, flexibility and creativity during this worldwide health crisis. BAI is recognizing two organizations with special Honorable Mentions for their high-impact innovation during the pandemic to meet the changing needs of their customers quickly and effectively:

• FNB, South Africa capably eased friction for customers, sped up responsiveness, and built an array of financial and non-financial resources for their customers.
• Union Bank of the Philippines provided easy access to capital for micro, small and medium-sized businesses, which are the lifeblood of the Philippine economy.

For more information about the Global Innovation Award winners or more about the award program, please visit BAI Global Innovation Awards.

About BAI

As a nonprofit, independent organization, BAI has delivered the financial services industry's most actionable insights for more than 95 years, enabling leaders to make smart business decisions every day. We provide in-depth, proprietary research to more than 40 of the top US banks, support more than 2,100 financial services organizations with compliance and professional development training, provide trusted, relevant thought leadership through BAI Banking Strategies reports, podcasts and webinars, and connect senior leaders through a series of executive roundtables. For more information, visit www.bai.org.