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Home , Al Ahli Bank of Kuwait, DCB Bank, Emirates NBD, IndusInd Bank, Kerala Gramin Bank, Pan Asia Bank

Stories of Award Winning Innovations Table of contents

Channel Innovation Category

Punjab National Bank Packs a Punch in PNB ONE...... 5

Bank Muscat Reimagines Digital Banking for New-Age Customers in Oman...... 7

Australian Military Bank Opens Accounts in 2 Minutes...... 9

Bank CTBC Indonesia Rethinks Loan Origination...... 11

Ecosystem led Innovation Category

UnionBank’s Robust MSME Platform is a First for the Philippines...... 14

Paytm Payments Bank Makes a Valuable Ecosystem Play...... 16

South Indian Bank Increases Customer Engagement with SIBermart...... 18

Corporate Banking Category

ICICI Bank Builds Small Business Digital Platform InstaBIZ to Strengthen India’s Economic Backbone...... 21

Santander Rewrites the Rules of Corporate Banking Experience...... 23

Process Innovation Category

ICICI Bank Reduces the Pain of Collection with UPI...... 26

Kerala Gramin Bank Builds a First of its Kind App for Staff ...... 28

Nations Trust Bank Scores with Robotic Process Automation...... 30

Customer Journey Reimagination Bank BRI Attracts Millennials with Ceria...... 33

Digital Quick Loan from Sampath Bank: Disbursing Loans in 5 minutes...... 35

Shivalik Bank Extends Loans to the Underserved...... 37

Modern Technologies led Innovation Shivalik Bank Stands out Among Co-Operative Banks with Paperless Onboarding.40

Al Ahli Bank of Kuwait Revolutionizes Salary Payment with AssistEdge...... 42

IndusInd Bank Pioneers Voice Based Banking in India...... 44

The Union Bank of the Philippines Leads with APIs...... 46

Transformation Excellence Community Bank Makes a Lightning Start with the Fastest Digital Transformation...... 49

Myawaddy Bank Transforms its Core to Seize New Opportunities...... 51

Product Innovation Emirates NBD Liv.s Up to Millennial Expectations...... 54

Nequi Helps Customers Survive the Month End with Lifesaver Loan...... 56

NCB Offers Jamaica’s Only Pre-Approved Micro Loan...... 58

Standard Bank Cracks the Unsecured Lending Opportunity Open...... 60

Excerpts of Quotes from Winning Banks ��62

Large Bank Winner: Punjab National Bank Runner-up: ICICI Bank

Mid-size Bank Winners: Bank Muscat and Al Ahli Bank of Kuwait Runners-up: Andhra Bank and Bank Dhofar

Small Bank Winners: Asia Green Development Bank and Australian Military Bank Runner-up: PT. Bank CTBC Indonesia

Profile to Infosys Finacle for help with deploying the app. Leveraging Finacle Mobile Solution, the Bank unified its disparate, Founded in 1894, Punjab National Bank is the second largest standalone apps into PNB ONE, and enriched it to provide public sector bank in India. It has a network of 7,037 branches, comprehensive banking facilities in one place. as well as a range of digital channels. Today, the bank boasts of a customer base of over 170 million and more than US$ 110 The application architecture was designed for scalability billion in assets. and extensibility, both of which were essential for a bank of this size. A multi-layered approach – instead of a single An app to do it all application layer – was used to distribute request processing to accommodate surges or exponential increase in load with Few years ago, Punjab National Bank found that it was minimal changes. Care was taken to ensure the app provided supporting multiple mobile banking apps, each one dedicated a uniform experience to users of different mobile devices. A to a specific purpose or customer segment, for example, PNB unique feature of PNB ONE was that it was available in several Yuva for youngsters between 14 and 25 years of age; BHIM PNB languages to serve PNB’s diverse, pan-India customer base. for UPI-led transactions; PNB Kitty digital wallet for e-commerce transactions; PNB mPassBook for viewing the account Among the many features of PNB One are - Pay to contact, for statement and transaction history etc. sending money directly to phone contacts who are also PNB Although the Bank had the right intent, customers using more customers; multiple accounts management (savings, deposits, than one app were finding it difficult to keep track of their loan, overdraft, credit card etc.); UPI open-banking transactions; credentials. This prompted PNB to build a unified app that automatic bill payments; and a customer service chatbot would cater to all the banking requirements of its customers. named PIHU. Appropriately, the app was named PNB ONE. ONE app, many capabilities PNB, a long-time user of Finacle solutions, such as Core Banking, and more recently Digital Banking and Mobile Teller, turned

5 | External Document © 2020 EdgeVerve Systems Limited The power of ONE PNB ONE has achieved several milestones since its recent launch. In just few months, it has over 1.3 million customers on Android and about 100K customers on iOS with daily transactions valued at US$ 7.47 million.

For customers, PNB ONE offers the convenience of 24x7, anytime, anywhere comprehensive banking. They also enjoy insights-driven personalized banking experiences across channels, applications and devices.

Already, a number of PNB customers in different parts of India have the advantage of banking in the local language ; the Bank is testing the app in more regional languages with plans to launch soon.

Profile successfully transformed its channel landscape; the newly implemented Finacle Omnichannel Hub enabled a full-fledged, Bank Muscat is the leading bank in Oman with a dominant consistent and seamless user experience across online and presence in both corporate and personal banking. The Bank mobile banking, both of which got a completely new interface has the largest network of branches and electronic channels in with intuitive navigation. The biometric authentication facility Oman. on mBanking made it more customer-friendly. The need for new-age channels On the corporate side, Bank Muscat has been able to deliver a seamless digital experience to their corporate customers Like their peers around the world, the digital natives of Oman courtesy of the comprehensive, multi-level corporate also had high expectations from their banks. While Bank Muscat functionality afforded by Finacle, which supports self-service was keen to meet their demands, it did not have the necessary for a broad range of products. With flexible bulk transaction unified channel banking landscape. The Bank had to not only processing capabilities, corporate clients can upload files transform its channels, but also ensure that the new landscape and use the feature to process salaries and vendor payments was best-in-class in order to sustain its leadership in the market. without assistance, freeing up valuable time of the Bank’s staff. After a thorough evaluation of several vendors, Bank Muscat chose Infosys Finacle as its transformation partner. On the retail side, the Bank has put special focus on helping individual customers manage their finances efficiently using Twin focus: retail and corporate PFM tools that graphically represent income and expenditure and allow users to compare the same against their set budget. The channel landscape transformation included Retail customer can use the various feature available on implementation of Finacle Omnichannel Hub, and upgrading both channels such as bill payment, top-ups, transfers to the the existing Finacle Online Banking and Mobile Banking bank’s wallet and faster remittances to India, Pakistan, Sri Solution. A major reason why Bank Muscat chose Finacle was Lanka, Philippines and Bangladesh with instant credit to the because it offered an intuitive user interface and unified user beneficiary account. experience. Leveraging the latest version of Finacle, the Bank

7 | External Document © 2020 EdgeVerve Systems Limited Channel surge Bank Muscat’s channel transformation is yielding encouraging results. There has been a marked increase in channel usage among retail as well as corporate customers – for example, within the first three days of going live, online banking and mobile banking logins were 2.5 times the usual traffic in the system.

In the first month, unique logins stood at 422,357 (mobile banking) and 32,906 (online banking) for retail customers, 7748 for online banking (retail enterprises) and 3870 for corporate online banking. In the same period, transactions crossed 2.5 million for mobile banking, over 150K for online banking (retail and retail enterprises) and over 12K for corporate online banking. The total transaction value was an impressive OMR 463 million or about US$ 1.2 billion. The total number of transaction volume for Mobile Banking has increased by nearly 20 % within two months of go-live.

Ahmed Omar Al Ojaily, Group Deputy General Manager - Technology, Bank Muscat - “Bank Muscat has successfully leveraged its ongoing partnership with Infosys to launch its new Omni- channel Internet and Mobile Banking experience, which has been well received and appreciated by our customers over the last few months since its launch. We are happy to partner with a global leader in next-generation digital services and consulting like Infosys to provide the best digital banking experience for our customers in an efficient, secure and convenient manner. Naturally, we are delighted that our successful implementation of this state-of-the-art technology has been recognized at the Infosys Finacle Client Innovation Awards 2020.”

Profile members, stationed at different parts of the country, can open an account and begin banking anywhere anytime. To become Australian Military Bank (AMB) has been serving Australian a member and open an account, prospective customers will Defense personnel and their families since 1959. The Bank uses need to provide information like full name, home address, and its knowledge of the armed services’ needs accumulated over basic contact details. The details are verified online in real-time 60 years to offer customised products to its 56,000 members. and a prospective member’s ID is created, post which the Today, AMB manages member funds in excess of $1.45 billion. It member can immediately begin banking online by creating a has a digital first 24/7 globally accessible service with ATMs and passcode. branches at major defense bases. Behind the scenes Catch ‘em young and quick A key feature such as onboarding requires the support of an The majority of AMB’s new customers are defense force recruits advanced digital engagement platform, and a robust core aged between 18 and 25. These young, tech savvy people with solid set of APIs, all of which were available in the Finacle are heavy users of mobile technologies and digital services Mobile Banking Solution, Finacle Omnichannel Hub and the from disruptors, such as Uber, Deliveroo, Facebook, Apple and Finacle Core Banking platform. Google. They expect their banking provider to also offer a fast To complete account opening and onboarding in less than and frictionless experience like these companies. 2 minutes, the Bank had to first streamline the identity To offer its members the convenience of quick account opening verification process, which used to take quite long. By from anywhere and at anytime, AMB launched a mobile app leveraging Finacle APIs to connect to external agencies to onboarding service in July 2019. The application enables complete identity verification, check for sanctions, and do PEP prospective members to open an account online in less than 2 and fraud checks, AMB was able to complete all the formalities minutes. online, in real-time.

Customers can download the Australian Military Bank mobile app from the AppStore or PlayStore. Defense Community

9 | External Document © 2020 EdgeVerve Systems Limited A big hit AMB customers are appreciating being able to open accounts instantly from the comfort of their smartphones at a time and place of their choosing – combined with a web-based account opening process, this has become the most popular channel for opening transaction accounts. In January 2020, 68 percent of all savings and transaction accounts were opened via digital channels in a straight through process.

By eliminating human intervention from this key customer journey, the Bank has also managed to lower its cost to income ratio. So much so that today, other banks are looking to replicate AMB’s success.

Profile The Bank implemented the Finacle Core – Lending, Finacle Retail Loan Origination Solution (RLOS) and Finacle Mobile PT Bank CTBC Indonesia (“Bank CTBC Indonesia”) is 99 percent Banking Solution, to automate and digitize retail lending from owned by CTBC Bank Co. Ltd, one of the leading banks in end to end. With Finacle the Bank was able to automate the Taiwan. It began operations in 1997 to mainly serve trade loan process from start to finish, instead of only onboarding between Indonesia and Taiwan. online and completing the remaining processes offline. The Today, Bank CTBC Indonesia, which boasts a strong capital base loan origination solution added further value with features, and consistent performance, is one of Indonesia’s leading and such as a rule engine, default workflow linking and integrations highly awarded banks, providing a full range of corporate and for document management etc. Being an open solution, Finacle consumer services in the country. allowed the Bank to customize where necessary. Integration between the mobile application and the Finacle loan origination system was done though Node Red. The Rooting out inefficiency in loan mobile app is integrated with the Enterprise Service Bus processing to connect with Finacle Core. The UX design ranks high on engagement, supports several languages and is also Loan processing in Indonesia in general was riddled with compatible with low-resolution screens. inefficiencies. Requiring much manual effort, it was prone to error and took a long time to complete. Bank CTBC Indonesia recognized that automating loan processing would not only improve outcomes but also enable it to target new market segments.

11 | External Document © 2020 EdgeVerve Systems Limited Big wins Bank CTBC Indonesia’s loan processing has benefited greatly from the implementation. The entire loan origination process is automated by the solution’s workflows, rules and process setup, eliminating 90 percent of the manual tasks required in the previous legacy system. This has lowered the Bank’s operating cost, shortened the processing time by about 30 percent and given it an edge over competition. Incoming applications have gone up 20 percent.

In addition, Bank CTBC Indonesia has uncovered opportunities to launch products faster and generate new revenues.

Mid-size Bank Winner: Union Bank of the Philippines Runner-up: RBL Bank

Small Bank Winners: Paytm Payments Bank Ltd and The South Indian Bank Ltd Runner-up: DCB Bank Ltd

Profile One platform, many services All that any business has to do is sign up for an SME checking Operating as a commercial bank since 1982 and a universal account and maintain a balance of Php 5,000 to access a range bank since 1992, The Union Bank of the Philippines Inc. or of benefits for free. These include knowledge services, such UnionBank, is one of the largest banks in the Philippines. The as market trends, industry updates and shared experiences Bank is among the first to adopt new technology in the country of other businesses; offers, including deals and discounts; and is committed to becoming the leading digital bank in listings of the products, services and promotions offered by the the Philippines. It has received several awards for financial MSMEs on the platform; and networking opportunities with performance and technology transformation. potential customers, suppliers and partners in and outside the Philippines. A platform to unify them all Businesses may also avail of features such as team/partner 99.5 percent of businesses in the Philippines are micro, small collaboration, calendar for scheduling meetings, email, and and medium enterprises (MSMEs). Despite their importance, uploading/ sharing of documents. MSMEs have been neglected, and continue to face problems such as limited access to funding, tax compliance hurdles, and This first of its kind platform in the Philippines has enabled poor understanding of technology. UnionBank felt that a digital UnionBank to affirm its support to MSMEs and also subtly offer platform that brings all the MSMEs together could mitigate its banking services to those who want them. The platform many of these challenges. There was no such platform in the is helping to digitize the MSME market as well as nurture an Philippines. ecosystem of Fintech and technology partners, which already has 21 participants, and will undoubtedly add more. These The Bank launched a robust MSME platform that any business partners are already acting as influencers and promoting the in the country, and not just its clients, can sign up for. The platform in the interest of the MSME community. platform acts as a one-stop shop that provides access to a variety of banking and non-banking services to small businesses, while enabling the Bank to work with Fintech firms to offer financial and business consulting services at an affordable cost. It can be accessed online or on mobile.

14 | External Document © 2020 EdgeVerve Systems Limited Benefits by number UnionBank’s robust MSME platform has delivered impressive results in a short period of time. Apart from 40,000 MSMEs, a number of service providers have been brought on board. It has increased the customer base for deposit accounts, loans and other services by over 10K, through acquisition and cross-sales. The deposit accounts have added Php 800 million as revenue, while the loan accounts have notched up a business of Php 3.6 billion. The bank has also been able to sell credit cards to the platform’s members.

Dennis D. Omila, Chief Information Officer, Executive Vice-President, UnionBank - “UnionBank’s “moonshot goal” is to have 50 million customers in the next few years. The traditional systems of the Bank will not allow for us to service and scale up to this number. Therefore, the Bank has a unique strategy of leveraging on our institutional and corporate customers by harnessing technology to build ecosystem solutions. The whole bank strategy is built around this. Customer-centricity is still key to our innovation process as we strive to be at the forefront of creating products and experiences that have the ability to transform people’s lives. Infosys Finacle has been instrumental in UnionBank winning the Best Digital Bank for 3 consecutive years. They are at the core of our digital transformation and through their solutions and services, we are able to launch key digital initiatives and scale. This year, we are excited for another round of transformation that should help shape the future of banking in the Philippines.”

Profile seamlessly into customers’ primary journeys, from shopping and utility payment to entertainment and investment. Since its launch in August 2010, Paytm has been one of India’s most innovative Fintech companies. It has more than So now, customers can deposit money through cards, net 300 million users and in excess of 4 billion annual digital banking, UPI open banking or cash into their Paytm Payments transactions. The company, which started as a mobile wallet Bank accounts or Paytm wallets, and spend it on purchases, or with an online mobile recharge and bill payment platform, invest it in fixed deposits at the Bank or in stocks and mutual subsequently set up Paytm Mall, an e-commerce marketplace, funds via Paytm Money. With zero balance offer and no charges and Paytm Payments Bank. for digital transactions, Paytm Payments Bank is also furthering financial inclusion in the country. A value chain benefiting merchants The hub of digital life and customers The digital life of Indian customers was evolving rapidly. People After enjoying huge success with its mobile wallet, Paytm’s began to prefer Paytm for the ease and convenience that it vision was to straddle the financial services value chain by brought them. For many people, the Paytm screen became the building a robust ecommerce ecosystem through Paytm Mall hub of their digital life. Paytm allows its customers to pay for on one side and providing inclusive financial services from mobile recharge, bill payment, DTH recharge, purchase books, Paytm Payments Bank, on the other. The company was well electronic devices, apparels, and tickets for everything from positioned to achieve this. The Mall was already distributing a movies to flights via their checking account. Vendors and retail large variety of products, and the Payments Bank would now brands were invited to use Paytm as a channel to market, by make it easier for merchants to sell their goods by supporting offering their products on the Paytm marketplace. The secret to them with POS services (QR code reader, listings etc.) as well as its success was its understanding of customers, made possible financial services, such as current accounts and fixed deposits. by advanced data analytics that helped it to optimize the digital experience for each individual, depending on their preferences, Paytm believes that financial inclusion is not about enabling location and many other factors. more people with just a bank account, it is about creating an ecosystem that empowers and encourages people to use these Paytm has also worked extensively with MSMEs to enable them financial instruments in their everyday life. Paytm Payments with technology and get them onboard the Paytm ecosystem. Bank had a strong technical foundation in Finacle Core Banking Today the Paytm ecosystem has over 12 million merchants Solution. Now the task was to bring the elements, namely the providing a wide range of products and services across the ecosystem and financial services, together to complete the country. With its unique O2O (Offline to Online) model, Paytm value chain. With that, Paytm Payments Bank was able to go is also equipped to serve customers with a whole host of beyond merely providing banking services to weaving them products and services across 16000 pin-codes in the country.

16 | External Document © 2020 EdgeVerve Systems Limited Big result Paytm continues its success at innovation with its Payments Bank. Of the 320 million Paytm users, 180 million have signed up with the Bank and opened 42 million savings accounts; many of them would not have entered the formal banking system were it not for Paytm Payments Bank. In 2018, Paytm transactions grew fourfold to $20 billion. The offline merchant base grew to nearly 12 million in 2019 from just 1 million in 2017. Last but not least, by closing the financial needs loop along with the ecommerce platform, Paytm Payments Bank is doing a far better job of retaining customers than its peers.

Paytm Payments Bank spokesperson said, “We are pleased to be recognized for this prestigious award for innovation. At Paytm Payments Bank, our focus remains on launching innovative products & services to accelerate financial inclusion in our country.”

Profile platform, customers can access all their favorite ecommerce sites from one place, compare different products, find the Founded in 1929, South Indian Bank (SIB) is an Indian private best prices, and secure attractive benefits, such as cashback. sector bank with a major presence in the state of Kerala. It is SIBermart simplifies the online shopping experience for the first bank in Kerala to develop in-house fully integrated customers and saves them the bother of visiting multiple branch automation software and also to implement a Core ecommerce platforms to clinch the best deal. Banking System. The Bank’s network includes 871 branches, 54 extension counters and 1,319 ATMs. Early benefits Engaging beyond banking Apart from providing these benefits to South Indian Bank’s customers, SIBermart has helped the Bank to differentiate itself A technologically advanced bank, SIB was aware of the in the market as well as engage more closely with customers. importance of engaging with customers outside the traditional Besides revenue, SIB earns a referral income through the banking relationship, using digital platforms. The Bank platform that it shares with customers in the form of cashback. identified ecommerce as a way to entrench itself deeper into customers’ lives beyond banking. More importantly, the Bank gains valuable data from the platform, such as the payment instruments favored by The Bank set up an ecommerce gateway called SIBermart, that customers, products searched, etc., which it uses to enhance its is integrated to its website and mobile app. On the SIBermart sales and marketing campaigns.

18 | External Document © 2020 EdgeVerve Systems Limited South Indian Bank spokesperson said “We have been successful in creating excellent customer touch points by harnessing the power of digital technologies and a quintessential example of this is SIBerMart, our e-commerce shopping engine. SIBerMart lets our customers identify, compare and choose the best deals for the same product from different e-commerce websites, while enjoying cashbacks provided by the bank. South Indian Bank was one of the first organizations in India to adopt Finacle, back in 2000. We consider the award as a testimony to our continued efforts in providing banking excellence to our customers.”

Large Bank Winners: ICICI Bank and Santander Corporate & Commercial Bank UK Mid-size Bank Winners: Federal Bank and IDBI Bank Ltd

Profi le One of its kind, fi rst of its kind ICICI Bank is the largest private sector bank in India and the The platform, named InstaBIZ, enables ICICI Bank’s MSME and second largest overall. The Bank’s consolidated total assets self-employed customers to conduct their business banking stood at Rs.12.50 trillion as of June 2019. It off ers a wide range transactions securely and conveniently, from anywhere and at of banking products and fi nancial services to corporate and anytime, using online and mobile banking. It features about retail customers through an extensive network of digital and 115 products and services, many of which are being off ered physical channels and also through its group companies. ICICI for the fi rst time ever on a digital platform in India. Apart Bank is one of India’s most innovative and awarded banks. from regular products, such as loans, payments and trade fi nance, InstaBIZ off ers a range of services, such as instant Big vision for small business GST payments, applications for POS machines, and instant overdrafts based on bank statements and KYC information.. Generally speaking, Corporate banking has typically taken a This makes it one of the most comprehensive digital banking backseat to its retail counterpart in terms of focus, investment, platforms for small businesses in the world. digitization and promotion. And within corporate banking, the SME (small and medium enterprises) business has historically ICICI Bank faced many challenges while building the platform. been accorded the less-than-desirable priority. Since InstaBIZ was a fi rst of its kind platform, the Bank had no reference installations or benchmarks for comparison. In India, the MSME (micro, small and medium enterprises) Therefore, the fi rst challenge was defi ning the scope and nature and self-employed segment is the country’s largest employer of the platform. ICICI Bank had also set some steep targets and also its economic backbone. ICICI Bank’s vision was to for itself, including getting to the market well before anyone strengthen this backbone by making it easier for MSMEs else. Leveraging Agile methodologies, the Bank managed to to do business and access banking services. It envisaged a implement the platform in 5 months. comprehensive digital platform for small businesses, the likes of which had never been seen in the country. The platform would The positive feedback from customers, and the fact that improve customer satisfaction by ensuring frictionless access to no competitor has managed to come up with anything banking services, including payments and remittances, foreign comparable, makes InstaBIZ one of ICICI Bank’s biggest currency conversion, bank reconciliation, insurance registration successes. etc.

21 | External Document © 2020 EdgeVerve Systems Limited Ahead of the fi eld Based on research, ICICI Bank believes that InstaBIZ is the most comprehensive digital platform of its kind in India. The platform has already acquired 30,440 new corporate customers, who used to bank elsewhere, through the guest signup option. The monthly growth rate since the launch has been inspiring. For instance, in September 2019, unique customer logins stood at 4,52,023, 2.6% more than August and 5.4% more than July.

In the same month, transaction volume also increased by 4%, and value by 3%, over August. Even non-fi nancial transactions increased by more than 20% in September over the previous month. Last but not least, the number of registrations for the ‘Manage Your Business’ feature crossed 9,000.

Profi le Selecting Finacle Digital Engagement Hub, it worked with Infosys subsidiary Brilliant Basics to redesign the user interface Part of Santander UK, Santander Corporate and Commercial for corporate and SME customers. Bank UK the needs of businesses across the United Kingdom. 34 regional corporate business centers provide relationship banking support to large and mid-sized enterprises with Customers ask, customers get sophisticated and comprehensive needs; a corporate banking Customer interest was at the heart of the transformation. Before team off ers strategic debt solutions and tailored off erings to building the user experience, the Bank asked key customers businesses with revenues exceeding £50 million. A business to name the biggest pain points in their digital banking banking team and network of local business managers support experience; their responses highlighted a need for simple startups and small-to-medium enterprises. and reliable domestic payment services and transparency in international payments in relation to currency conversion, fees Empowering through experience and charges, cut-off times etc. This feedback was incorporated to create an experience that was frictionless, secure and The world over, corporate (and business) banks rely heavily on delightful. Brilliant Basics employed a proprietary C2C process relationship managers to help customers with their typically to redesign clients’ digital banking journeys. complex transactions. But as millennials enter the corporate treasuries, they want corporate banking to off er the same level The Finacle solutions were installed within Santander’s of empowerment, independence and seamlessness as their platform-as-a-service (PaaS) infrastructure so they could scale retail banking or ecommerce experiences. Always responsive, easily; also, there are plans to integrate the Bank’s existing Santander Corporate and Commercial Bank UK decided mobile app into the Finacle Digital Engagement Hub using APIs to meet these expectations by reimagining the corporate and microservices. channel experience and empowering its clients with self-serve The solution design and build has followed an agile capabilities. development approach with both UK and off shore resources The Bank serves more than 20,000 corporates and SMEs in the working together in a sprint methodology. Although this was U.K., helping them meet day-to-day needs, including payments a challenge at fi rst, this collaboration between architectural, and remittances. However, its existing digital platform was product, payments, analysis, testing and DevOps teams proving incapable of both supporting its future growth plans delivered accelerated results. and handling changes in regulation and market requirements. Clearly, Santander needed to transform its digital channels and user interface.

23 | External Document © 2020 EdgeVerve Systems Limited Standing tall The transformation enables Santander Corporate and Commercial Bank UK to deliver a best-in-class transaction banking experience across the domestic and international digital payments landscape to its clients. In addition, it allows the Bank to diff erentiate itself as a technology savvy player, something not many corporate banks can claim.

Santander now has a modern technology solution that lays the groundwork for future re-platforming and strategic integration with other bank channels including Open Banking.

Santander has reaped key business benefi ts by switching to Finacle, including expansion of the payments business, improved competitive positioning, steady increase in Net Promoter Score (NPS), lower operating cost, and a reduction in risk.

Michael Vallance, Managing Director & Head of Transaction Banking, Santander Corporate and Commercial Bank, “We are delighted that Infosys Finacle has recognized Santander Corporate & Commercial for our digital transformation projects delivering new customer centric international and domestic payments services for our UK clients. Working with Infosys Finacle, we have redesigned our digital channels around our customers’ needs to off er a simple and informative payments experience. Our vision is to use bank and customer insights to provide proactive digital prompts and notifi cations, allowing our customers to make and manage their payments more effi ciently and securely. By incorporating Infosys Finacle into our technology strategy, we have been able to create operating effi ciencies across products and channels to accelerate digital transformation, introduce new customer features and take advantage of emerging technologies”

Large Bank Winner: ICICI Bank Runners-up: Axis Bank and Punjab National Bank

Mid-size Bank Winners: Housing Bank and Nations Trust Bank PLC Runners-up: RBL Bank and SBM Bank (Mauritius)

Small Bank Winners: Kerala Gramin Bank and The Ernakulam District Co-operative Bank Ltd Runners-up: Chaitanya Godavari Grameena Bank

Profi le ICICI Bank leveraged advanced analytics and historical transaction records, to segment its customers into various risk ICICI Bank is the largest private sector bank in India and the bands and digital status, viz Digital Native, Digital Migrant and second largest overall. The Bank’s consolidated total assets Digital Nascent stood at Rs.12.50 trillion as of June 2019. It off ers a wide range of banking products and fi nancial services to corporate and A successful eff ort retail customers through an extensive network of digital and physical channels and also through its group companies. ICICI ICICI Bank has been quite successful in its goal. 20 percent Bank is one of India’s most innovative and awarded banks. of collections have turned contactless, bringing about a 25 percent saving in collection costs. The Bank has witnessed a 72 percent increase in volume and more than 43 percent increase Less contact means less cost in the unsecured portfolio, and is able to handle it without Amid rapidly growing digital payments, cash transactions investing further in collection infrastructure. stick out for all the wrong reasons. From a bank’s point of view, Receipts via UPI are increasing 10 percent every month. collecting cash is not only risky but also cumbersome, eff ort- Customers are endorsing this feature by repeatedly paying intensive, and costly. A leader in digital payments, ICICI Bank through UPI. One of the biggest benefi ts of instant payment is decided to minimize manual cash collection by scaling up its that it prevents the collection bucket from spilling over at the platform to enable customers to make loan and credit card end of the month. payments online, using the Unifi ed Payments Interface (UPI). The solution deployed by the Bank provides a seamlessly The Bank sends a collection request directly to the customer’s integrated journey starting from customer’s UPI app which UPI ID on the due date, and the payment is made as soon as the ends with the customer’s loan or credit card dues being customer accepts the request. All of this happens without any updated within a few seconds. manual intervention. To enable UPI-based collection, ICICI Bank integrated many systems like Core Banking, Bank Collection System, Bank UPI Switch, NPCI platform, Loans system and Cards Core system for a complete data handshake.

Profi le related to SMA, PNPA, stock statement due, expired credit limit, LPD and SARFAESI are now available in one place. Kerala Gramin Bank (KGB) is a Regional Rural Bank (RRB) formed in July 2013 by amalgamating two RRBs in Kerala. KGB focuses Using KGB Assist, staff can contact borrowers directly on on economically uplifting the state’s rural areas by off ering their mobile phones, via call, SMS or WhatsApp. The app also fi nancial assistance to sectors, such as Agriculture, Micro, Small serves as an internal communication tool that provides easy and Medium Enterprises, education, housing, and micro-credit, dissemination and access to various communications and as well as to customers from the weaker sections of society. documents. Basically, KGB Assist integrates a host of modules, such as NPA (non-performing assets) Recovery, Circulars, With 634 branches as of September 2019, it is the second Dashboard, and Letters on a single platform. As a result, it largest bank in Kerala by branch network. helps the Bank’s staff recover NPA and SMA accounts, analyze business fi gures, access intra-bank communication in real-time, A single app for everything send reminders to all defaulters on time, and stay up to date with any instructions issued by the organization. For Kerala Gramin Bank, managing bad debts and recovering loan payments were among its biggest challenges. What One app, many benefi ts made it harder was that the data was scattered across several locations. The Bank felt that a unifi ed app providing all loan KGB Assist has dramatically improved loan recovery and follow related information – repayment schedule, defaulters etc. – in up. Staff no longer need to waste time hunting for information, one place would greatly help its workforce in following up with since the app has it all – it is estimated that the app saves 1,268 customers. This was the motive behind creating KGB Assist, man-hours daily. This means that staff can spend more time an application developed entirely in-house by the Bank’s staff , in serving customers and other productive activities. Timely leveraging the underlying core system APIs and business reminders to borrowers have prevented good loans from services. turning into NPAs. Last but not least, the app has saved both paper and printing costs for Kerala Gramin Bank, and enables KGB Assist is unique and a fi rst of its kind application in the sustainable banking vision. industry. Unlike earlier, when they could only initiate loan recovery from a branch, staff members can now generate MIS reports from anywhere using the app and do the job. Data

28 | External Document © 2020 EdgeVerve Systems Limited Kerala Gramin Bank spokesperson said, “Kerala Gramin Bank strives to off er technology enabled banking services to all its customers. Though we are a Regional Rural Bank, our clientele base constitutes customers from both rural and semi urban populations alike. The bedrock of our innovation strategy is to provide banking services to all strata of society which is backed by the latest technologies that are available in the present banking scenario with a human touch. The Bank has been using Finacle as the Core Banking solution for about a decade. The solution is a fool proof one that emphasizes a great deal on performance, reliability and robustness. This has off ered us a seamless experience in digital banking. We take immense pride that our product, KGB Assist is recognized at the Finacle Client Innovation Program. KGB Assist is a completely in house developed data driven mobile application that off ers a lot of tools required by our bankers in their business development activities. Kerala Gramin Bank is the fi rst Regional Rural Bank to have such an application, and the product is unique and fi rst of its kind in the banking industry. We feel that the recognition of this innovative product at the Finacle Client Innovation program is yet another feather in the cap of our Bank.”

Profi le AssistEdge advantage Established in July 1999 with the acquisition of the Colombo The AssistEdge tool’s rich functionality aligned closely with Branch of Overseas Trust Bank Ltd., Nations Trust Bank is Nation Trust Bank’s long-term automation strategy. The a progressive bank in Sri Lanka and among its top fi fteen implementation was designed by prioritizing value. Since business establishments according to the Business Today the Bank did not have its own team of developers in the magazine. It off ers a range of fi nancial products and services for beginning, it relied on AssistEdge, to build the automation. retail, corporate and institutional clients, including the country’s Once it created in-house development capacity, the Bank fi rst complete digital banking experience, FriMi. formed an internal RPA team and tasked it with using the tool to automate processes. The team used Agile-based practices The Bank has a network of 96 branches and 127 ATMs across for the implementation and automation of a list of routine, Sri Lanka, and is the issuer and sole acquirer for American eff ort-intensive processes identifi ed by the management. Express® Cards in the country. These manual processes were fi rst documented “as is” to build understanding of what they “should be” post-automation. Beginning the automation journey Process re-engineering and augmentation – including API integration– were used to make the automation more effi cient. Nations Trust Bank decided to automate a number of manual processes to improve effi ciency and accuracy, as well as free up employees for value-adding tasks involving creativity, decision- making and innovation. The Bank’s management zeroed in on Robotic Process Automation (RPA) so it could employ bots in place of employees without signifi cantly disrupting existing processes. After evaluating available options, the Bank selected the AssistEdge solution from EdgeVerve.

30 | External Document © 2020 EdgeVerve Systems Limited The benefi ts fl ow in Thanks to automation, most of the Bank’s redundant processes are now executed by bots, leaving employees with more time to devote to higher pursuits. The three initial processes to be automated alone have freed up 180 man hours per month, which are now being spent in scaling innovation and managing critical processes. In addition, there is a 25 percent to 50 percent saving in processing time.

Nations Trust Bank spokesperson said, “At Nations Trust Bank, our digital strategy hinges upon being simple, smart and inclusive. We are committed to digital transformation at both the frontend and backend and this has earned us the reputation of being Sri Lanka’s most progressive and digitally enabled bank. Our entry for the Infosys Finacle Client Innovation Awards 2020 is based on our implementation of the EdgeVerve AssistEdge RPA technology into numerous backend processes across our entire business. Through this implementation we have saved over 180 person-hours each month and reduced TATs by up to 50%, while increasing our capacities. We are proud to use Finacle for our core banking systems and for our core banking app. Partnering with Infosys Finacle has been an exciting, collaborative experience. Working with a team of competent professionals enabled us to ensure swift and eff ective implementation and rollout of the solution. We are incredibly proud to be one of the select few entrants to be recognized for our eff orts towards digital empowerment at the Infosys Finacle Client Innovation Awards 2020.”

Large Bank Winners: Bank BRI and ICICI Bank Mid-size Bank Winners: Andhra Bank, Federal Bank and Sampath Bank PLC Runner-up: Sohar International Small Bank Winners: Shivalik Mercantile Co-operative Bank and The South Indian Bank Ltd

Profi le of the parent organization was simply not up to the job, the bank decided to implement Finacle, the suite that had helped Incorporated in 1895, Bank Rakyat Indonesia (BRI) is one of the bank pioneer digital-fi rst lending in the country. the largest state-owned banks in Indonesia, and among the country’s most innovative fi nancial institutions. The solution, named Bank BRI Ceria, is an innovative, fully digital lending product suited to fulfi ll the credit needs of Indonesia’s Catching the millennials millennials. Ceria functions like a credit card for e-commerce purchases, with buy now and pay later features. It also allows Bank BRI is always looking for opportunities to serve customers users to borrow up to Rp 20,000,000 Rupiahs ($1,500) under a whose needs are not being met adequately. An example is variety of terms up to a period of 12 months. its mobile banking app, Pinang, designed specially to help blue-collar workers get loan approvals in a matter of minutes Ceria is distinguished by four characteristics: rather than weeks with zero documentation. This time, the Bank • Convenience: Customers can apply on mobile for a loan, decided to create a similar product for millennial customers. which is also processed digitally through the same channel. They just need to use a digital signature, without bothering Indonesia’s millennials are quite wary of credit debt despite about printing and signing physical documents. meriting high credit scores. Although this cohort, which makes up a third of the total population, is fi nancially prudent and • Speed: From application to disbursement takes just takes tech-savvy, no big bank in Indonesia had thought of creating 10 minutes – as compared to more than a day for its closest a true digital product designed specifi cally for them, and the rival off ering. available options from other providers were neither reliable nor trustworthy. Bank BRI decided to tap this opportunity, and • Price Competitiveness: Bank BRI with Ceria, off ers the most in the bargain, help Indonesia’s millennials grow their fi nancial competitive interest rate in the market. assets and also build a credit history. • Security: Ceria is certifi ed by the Indonesia Financial Service Authority as one of the most secure applications in the The making of Ceria country. Ceria is subject to an e-KYC process that uses facial The Bank realized that it needed an open and nimble biometrics to compare against a national database that is technology platform to be able to quickly launch its mobile only accessible to a few companies in Indonesia, including solution for millennial users. While the existing legacy platform Bank BRI.

33 | External Document © 2020 EdgeVerve Systems Limited Well begun From the Bank’s perspective, Ceria has already started to show results within 90 days of launch. The Bank is facing zero defaults thanks to the accuracy of digital credit scoring. Downloads have exceeded 118,000 and sales are valued at more than 7 billion Rp. The Ceria app has secured a high 4.6 rating from Playstore users.

Kaspar Situmorang, Executive Vice President, Digital Center of Excellence, Bank Rakyat Indonesia: In the age of disruption, BRI as the largest bank in Indonesia by asset would like to take part with disruptive and revolutionary digital products that are fi rst movers. We have been using a robust Finacle core banking to support our digital lending app Ceria that is running on our virtual private cloud since 2019. Before BRI there were no banks in Indonesia that launched its own digital lending product. BRI was able to utilize the power of the new real-time fraud-detection service, credit scoring system, and Open Banking API to develop Ceria. Ceria is a mobile-fi rst, self-service, end-to-end virtual credit card product for the underbanked millennials to purchase their desired product in e-commerce which cuts down loan originations to loan disbursement times from two weeks to two minutes all while improving the cost-effi ciency of microfi nancing by a third. BRI removed the pen and paper-based process through facial recognition and big data that was connected to Indonesian Government ID database. Making it the fastest credit approval in the market. Ceria has handled more 7,000 eCommerce transactions and disbursed more than USD 400,000 worth of loan. With more strategic partnerships in the pipeline, BRI is looking to see 2-3x incremental increase in loan disbursed and at the same time keep our achievement of ZERO NPL thanks to the utilization of machine learning for credit scoring.

Profi le without security. Customers are identifi ed based on a profi le analysis, which considers monthly fi xed income, history of Sampath Bank is a mid-sized bank in Sri Lanka. Incorporated in credit facilities availed, credit score from the Credit Information 1986, Sampath Bank is a growing force in the country’s fi nancial Bureau of Sri Lanka (CRIB system) and other parameters. The services industry, and one of the most awarded banks in Bank also employs Predictive Analytics to assess the customers’ Sri Lanka. potential requirement for a loan, in addition to the assessing repayment capability. Quick but not messy After calculating the possible value of their respective loans, Sampath Bank wanted to issue instant, unsecured loans to a the Bank proactively off ers them to eligible customers through large number of customers in Sri Lanka, but at the same time, Sampath Vishwa, its Internet banking platform, powered by not increase NPAs (non performing assets) at a time when they Finacle Online Banking. All of this happens without human were rising due to the adverse economic conditions in the intervention. country. This meant it had to accurately identify creditworthy customers before issuing loans to them, and do it all within a The solution stands out on several counts – it is the only few minutes in a frictionless process. pre-approved digital loan off ered to customers it employs intelligent automation for credit evaluation and loan pre- The Bank, which runs on Finacle Core Banking and Online approval; and it has zero NPAs, validating the robustness of the Banking Solution, introduced a Digital Quick Loan solution Bank’s underwriting process. for providing small, unsecured loans to its customers in less than 5 minutes; this is the fastest in the country for loans

35 | External Document © 2020 EdgeVerve Systems Limited Early gains Sampath Bank has gained signifi cantly from this innovative off ering. It disbursed loans worth more than Rs.100 million in the fi rst 12 months, and earned an administration fee of approximately Rs.1.2 million, in addition to Rs.15.5 million in interest income. It also saved signifi cant operational and administrative costs for the bank.

Ajith Salgado, GCIO, Sampath Bank – “As a pioneer in introducing technological innovations and advancements to the Sri Lankan banking industry, Sampath Bank is moving towards building fully-fl edged digital only bank with expectation of providing greater and incomparable service for Sampath Customers. Our focus is to leapfrog to the top of the market, through investments in futuristic technologies earlier than any of our competitors. In this technology driven digital journey of Sampath Bank, Finacle Core Banking System can be mentioned as the foundation and the contribution of Infosys is tremendous. We thank Infosys for recognizing our innovation and it is a great pleasure to being honored at the Infosys Finacle Client Awards 2020”

Profi le creditworthiness and instantly advise customers about their loan eligibility; where other banks only served individual From small beginnings in Saharanpur District, Shivalik Bank has customers to some extent, Shivalik Bank decided to include grown into the largest multi-state, urban co-operative bank in small businesses as well. the state of Uttar Pradesh. It is a technology-driven bank that aims to provide accessible solutions to meet the needs of the Given the deep penetration of mobile phones among its modern Indian customer. customer base, the Bank off ered the instant loan eligibility check on mobile, as well as in its branches and website; Loans for all immediately upon answering a few simple questions, customers get to know the size, rate of interest and tenure of Shivalik Bank targets the underbanked sections of society, the loan they are eligible for. All the channels are directly linked including low-income individuals, small businesses, farmers etc. to the Bank’s loan origination platform that in-turn connects to These customers typically require very small loans. Without the CIBIL credit bureau and Indian income tax systems. Following documents to prove their creditworthiness, they are unable the instant eligibility check, customers are sent in-principle to apply for a loan to formal banking institutions. Seeing approval on email, along with a list of documents to be an opportunity, Shivalik Bank devised a process to appraise submitted.

37 | External Document © 2020 EdgeVerve Systems Limited Early benefi ts The instant loan eligibility process has reimagined the borrowing experience for the Bank’s customers. Customers no longer need to travel long distances to a branch just to check if they can get a loan; now they can do most things remotely and only visit the branch at the time of document submission and loan disbursal.

Shivalik Bank has also gained from this initiative: business leads grew 50-100 percent within the fi rst month itself. Business origination has moved out from the branch and agent network to other channels as well; it is expected that digital business generation will account for 25-30 percent of total business in a year’s time. Also, the cost of customer acquisition on digital channels has reduced by more than 75 percent.

Shivalik Bank spokesperson said: “The Shivalik Bank team feels privileged to be recognized for its innovation capabilities as part of the Finacle Client Innovation Awards. Shivalik as an organization, aspires to be at the forefront of banking technology providing the best in class services to its customer base. Innovation is embedded in the mindset of all Shivalik employees and is driven by an urge to solve problems that the traditional banking system has been unable to cater to. Our association with Infosys Finacle is one such partnership which has been based on innovation from the outset. Our teams have worked hard to undergo a complete technology transformation and upgrade over the last 12-18 months. The fact that three of our submissions have received acclaim from the Finacle Client Innovation Program which has received nominations from all parts of the world is testament to our teams’ hard work and innovative spirit. We would like to thank the jury for this recognition and events such as this re-energize our teams to continue pushing boundaries in the coming years”

Large Bank Winner: ICICI Bank Runners-up: Emirates NBD and Union Bank of India

Mid-size Bank Winner: IndusInd Bank Runners-up: Al Ahli Bank of Kuwait and Union Bank of the Philippines

Small Bank Winners: Golomt Bank and Shivalik Mercantile Co-operative Bank

Profi le apps off ered by other banks and Fintech providers. The Bank realized that only paperless account opening would fulfi ll all From small beginnings in Saharanpur District, Shivalik Bank has these objectives. grown into the largest multi-state, urban co-operative bank in the state of Uttar Pradesh. It is a technology-driven bank that Although paperless onboarding was quite common in larger aims to provide accessible solutions to meet the needs of the Indian banks, it was a big leap for a cooperative bank to take. modern Indian customer. But since Shivalik Bank had implemented the Finacle Digital Banking Suite on cloud through a subscription that included Paperwork is passé Finacle Core Banking and Finacle Digital Channels solutions, it had the required technology foundation for the move. A customer wanting to open a bank account has to contend Leveraging the extensive API capabilities of Finacle Core with tedious paperwork; it is equally tiresome, not to mention Banking, the Bank implemented paperless onboarding and expensive, for the bank to record, store and safeguard the account opening on remote devices. Customers could submit customer’s documents. their Aadhaar card online to complete KYC formalities, and also send digital copies of supplementary documents, such as Form Shivalik Bank wanted to make it extremely convenient for 60 and Acceptance to Terms and Conditions. The entire process customers to open a bank account and at the same time reduce was digital and involved neither physical forms nor paper its own cost of customer acquisition and onboarding. It also documentation. wanted to protect its customers from switching to the mobile

40 | External Document © 2020 EdgeVerve Systems Limited Advantage Digital Both Shivalik Bank and its customers have benefi ted from paperless onboarding. Now, the process is completed within minutes instead of taking a couple of days. Since onboarding and account opening have become extremely effi cient, the Bank is able to acquire more customers, faster. By eliminating paper forms from CIF (customer information fi les) creation and account opening, Shivalik Bank has realized savings of 25-30 percent in customer acquisition costs. Since the documentation is only stored in digital form, there is less risk of damage or loss. With onboarding becoming a part of the banking services available on microATMs, it has become easier for bank staff to sell.

Profi le meant that it could take ABK up to a week to disburse salaries to their SME clients’ accounts, causing signifi cant hardship to Founded in 1967, Al Ahli Bank of Kuwait (ABK) is among their employees; what’s worse, they were riddled with error and Kuwait’s leading banks today, off ering a wide range of fi nancial dependencies. Other problems included critical data arriving and banking services and products across all its markets in inconsistent physical formats from customers, multiple in Kuwait, Egypt and the United Arab Emirates. ABK has 32 handoff s and approvals, and a lack of scalability that led to branches in Kuwait, 2 full service branches in the UAE and 42 huge salary processing backlogs. branches in Egypt. Realizing that the only solution was to automate salary Salary processing riddled with processing from end-to-end, the Bank decided to deploy the AssistEdge RPA platform. With Finacle Core Banking at the ineffi ciency back-end, ABK implemented AssistEdge to automate salary Continuing its journey of digital transformation with Infosys processing from inception to transaction. Today, the salary Finacle that started 4 years ago, Al Ahli Bank directed its focus details provided by customers are digitized using a QR code on the key SME segment. The Bank’s small business customers and processed in Finacle. Now there is a digital record of all were looking for automated salary processing to avoid delay salary fi les. Inconsistent document formats and archiving of in paying employees, most of whom were blue-collar workers. physical documents are a thing of the past, and there is a steep The manual processes in the context of salary processing reduction in data errors.

42 | External Document © 2020 EdgeVerve Systems Limited Big benefi ts ABK has benefi ted hugely from automating the salary processing with AssistEdge. The time needed to process a request is down by an astounding 97 percent, allowing salaries to be credited into customer accounts within 6 minutes. There is a 92 percent increase in productivity due to elimination of manual eff ort, and the saved manpower is being assigned to more important activities. Adoption of automation has gone up 225 percent in 3 months. AssistEdge executes 95 percent of requests, and assigns only the remaining 5 percent exceptional cases to staff . Other gains include improvement in accuracy and high scalability to handle month end peak volumes with ease.

Profi le The Bank’s customers have to register for linking their bank details using the Alexa app on their smartphone, after which Commencing its operations in 1994, IndusInd Bank has grown they can authenticate themselves and perform transactions into a mid-sized bank that gives its customers products and such as mobile recharge, credit card payment, account enquiry services meeting the highest quality standards in the industry. and fund transfer using voice-based commands. Today, the bank has a network of more than 1,000 branches and 1,800 ATMs spread across India, as well as representative IndusInd has also rolled out an application that allows offi ces in London, Dubai and Abu Dhabi. customers to chat on WhatsApp in natural language. This conversation is managed by WhatsApp application from Just say it Gupshup Technologies, comprehended by the AI system from Active AI and processed by Finacle through APIs. Customers IndusInd Bank has always leveraged emerging technologies can inquire their balance, statement, apply for Aadhaar, apply to create innovative solutions. One example of this is for DUO card and also switch between multiple accounts using conversational banking, which uses a chatbot called WhatsApp banking facility. This feature is available for CASA “IndusAssist”, to enable customers to conduct fi nancial and customers and for automobile loan customers. non-fi nancial banking transactions on Amazon Echo and other Alexa-enabled devices using voice commands. The Bank has IndusInd Bank is the fi rst to introduce conversational banking partnered with Active AI, a Finacle Fintech Connect Partner, in in India. Adoption of ‘Banking on WhatsApp’ has been on a this endeavor. steady rise and now has around 400,000 registered clients on the channel.

44 | External Document © 2020 EdgeVerve Systems Limited Biswabrata Chakravorty, Chief Information Offi cer, IndusInd Bank: “IndusInd Bank has always been a pioneer in its digital initiatives aimed at creating a best in class customer experience. Our projects nominated for the Finacle Client Innovation Awards 2020. are also testament to this. We have deployed services at scale for straight through accounts, effi cient and anytime withdrawal. These services give the customer unparalleled convenience using a simple and convenient experience. We thank Infosys for considering the projects for this prestigious award”

Profi le Winning big, winning quick Operating as a commercial bank since 1982 and a universal The Bank says the API Management Platform transformed bank since 1992, The Union Bank of the Philippines, Inc. or banking for both its employees and customers. As of December UnionBank, is one of the largest banks in the Philippines. The 2019, 21 of the Philippines’ 134 Fintech companies are live on Bank is typically among the fi rst to adopt new technology in UnionBank’s API Marketplace, giving the bank a vast customer the country and is committed to becoming the leading digital base of 30 million, many of them underbanked, to tap into. bank in the Philippines. It has received several awards for UnionBank expects to more than double the Fintechs on board fi nancial performance and technology transformation. to 50, or nearly 40 percent of the market, in less than 2 years of launch. By exposing APIs, the Bank has secured several benefi ts, APIs for truly digital including cost and time saving and additional revenue. By UnionBank realized that having an API marketplace enabling switching to API architecture the Bank has saved PHP 17 million collaboration and co-innovation with its partner ecosystem (USD 340,000). was a necessary step in its journey to becoming a truly digital Many key projects, including the Ark, the fi rst-ever fully digital bank. The Bank built an API Management Platform to catalog, branch, have leveraged the API Management Platform. manage, secure, and publish its APIs. It then exposed various APIs via the API Marketplace (developer.unionbankph.com) so Fintech companies, developers and other partners could connect to it with ease.

46 | External Document © 2020 EdgeVerve Systems Limited Dennis D. Omila, Chief Information Offi cer, Executive Vice-President, UnionBank - “UnionBank’s ‘moonshot goal’ is to have 50 million customers in the next few years. The traditional systems of the Bank will not allow for us to service and scale up to this number. Therefore, the Bank has a unique strategy of leveraging on our institutional and corporate customers by harnessing technology to build ecosystem solutions. The whole bank strategy is built around this. Customer-centricity is still key to our innovation process as we strive to be at the forefront of creating products and experiences that have the ability to transform people’s lives. Infosys Finacle has been instrumental in UnionBank winning the Best Digital Bank for 3 consecutive years. They are at the core of our digital transformation and through their solutions and services, we are able to launch key digital initiatives and scale. This year, we are excited for another round of transformation that should help shape the future of banking in the Philippines”

Mid-size Bank Winner: IndusInd Bank Runners-up: IDBI Bank and Indian Overseas Bank Small Bank Winners: Community Bank Bangladesh and Myawaddy Bank

Profi le of Breed Software Solutions Limited (BBSSL), had in-depth knowledge of the Bangladesh market and a sound track record A new scheduled bank, Community Bank Bangladesh Limited of implementing similar projects at other banking institutions formally started operations on the 11th of September 2019. in the country. Community Bank awarded a mandate to Infosys The Bank is fully owned by the Bangladesh Police Welfare Trust. and BBSSL to implement the Finacle Core Banking and Treasury It has a network of 6 branches and about 100 ATMs (as well solutions. as linkages with 8000+ other ATMs) from where it serves the police community with products and services tailored to their Overcoming the challenges requirements. Deadline pressure apart, the implementation team had to overcome several challenges. Since the Bank was absolutely Racing to the starting line new, it did not even have a dedicated UAT (User Acceptance Community Bank may be new but it has high aspirations. After Testing) team. A lot of data needed to be migrated from an receiving a banking license in November 2018, it resolved to be existing system to Finacle to open 200,000 accounts. And up and running by the middle of the following year. Searching everyone in the Bank, from the implementation team to the for a technology vendor to implement its greenfi eld venture, end users, needed to be trained. the Bank had three major expectations from the banking A combination of factors – strong governance and senior solution partner – complete understanding and compliance management support, coordination with stakeholders, with local regulations, an implementation timeline of 3 months, alignment of ICT and Business, extensive training and follow and a wide range of parameterized products meeting the up, and active onsite engagement by BBSSL – ensured that the needs of the consumer and SME markets. project stayed on track and was completed in a record 48 days. Infosys Finacle – the only one Infosys Finacle was the only one on the Bank’s shortlist of vendors that could meet these stringent conditions, especially the extremely tight schedule. To meet the deadline, Finacle proposed an Agile method of working and brought a local partner on board to integrate closely with the Bank’s team and thereby shrink the implementation cycle. The partner, Best

49 | External Document © 2020 EdgeVerve Systems Limited Hit the ground running Community Bank realized its goal of onboarding 200,000 customers within two months of going live and has plans to add 3 million customers over the next fi ve years. Currently, it has more than 30,000 mobile banking users.

The Bank serves customers across Bangladesh, with 95 percent of transactions occurring on digital and alternative channels. It is linked to the National Payment Switch Bangladesh (NPSB), Bangladesh Automated Clearing House (BACH), Bangladesh Electronic Fund Transfer Network (BEFTN) and the Real Time Gross Settlement (RTGS) networks of Bangladesh Bank.

Customers can open a full-fl edged account in less than 15 minutes, and choose from a range of products that the Bank customizes to their needs based on a 360-degree customer view and real-time insights.

Leveraging lightweight, fast, scalable and easy-to-maintain APIs, the Bank is able to innovate quickly and collaborate with its partner ecosystem, Fintech fi rms and developer communities.

Masihul Huq Chowdhury, Managing Director & Chief Executive Offi cer, Community Bank Bangladesh Limited – “Community Bank partnered with Infosys Finacle to off er cutting edge banking solutions to its customers. This greenfi eld CBS implementation took only 48 days to go live and we could profi ciently onboard customers. We are now delighted to receive the Finacle Client Innovation Award and I congratulate the project implementation team including our partners Edgeverve, BBSSL and ITCL for this achievement. This accolade will defi nitely encourage us to off er more innovative banking services in coming days.”

Profi le Upgrading to an open and scalable With total assets topping two thousand billion kyats, platform Myawaddy Bank is Myanmar’s 4th largest, and one of its most After evaluating various solutions for technical excellence progressive banks. The Bank, which was founded in 1993, has a and commercial viability, Myawaddy Bank chose Finacle network of 65 branches across the country. Core Banking and Digital Engagement Solution Suite. The project was undertaken as a big bang implementation and Centralize and modernize completed in about 12 months, at the end of which the Bank had a centralized core banking system and upgraded In 2018, Myawaddy Bank was fi nding it challenging to fulfi ll its mobile and online banking channels in place. This was no commitment of delivering innovative off erings and high quality mean achievement, given the challenges in migrating from service to customers. A legacy technology platform was at the a distributed system to a centralized one within a very small root of the problem. window. Myawaddy Bank’s distributed core banking system was highly cumbersome, ridden with branch dependencies, and incompatible with the National Payments System. The last deprived it of the opportunity to process payments and work with card systems, such as Visa. The Bank resolved to upgrade its platform to a centralized core banking system as well as modernize its channel applications.

51 | External Document © 2020 EdgeVerve Systems Limited Reaping the benefi ts The digital transformation has benefi ted Myawaddy Bank in signifi cant ways. An enhanced payment switch and card management system complying with the requirements of the National Payments System has opened the doors to payments processing and collaboration with card providers. The overhauled channels are enabling the Bank to confi gure new products at scale and quickly take them to market.

Now customers are able to bank 24x7 – which was not the case earlier – using centralized core banking, online and mobile banking, and ATM services. Myawaddy Bank has launched a number of competitive lending products, trade fi nance services and also new banking services, such as cross-channel card-less withdrawal.

It has also improved fi nancial control, risk management and compliance because of real-time visibility into positions and transactions, a streamlined workfl ow, and a clear audit trail. Consolidation of all IT resources in a single data center and disaster recovery facility has streamlined IT governance, while the reliable system infrastructure has improved both service availability and business continuity.

The technology overhaul has transformed Myawaddy Bank into a digital institution that is seeking to innovate and also build a partner ecosystem with FinTech companies in Myanmar.

Mr. Yu Lwin, Chief Executive Offi cer, Myawaddy Bank – “Our journey with Infosys Finacle has provided us great opportunities to develop various customer centric products and value-added services. Moreover, we have witnessed signifi cant operational benefi ts and cost effi ciencies, along with enhanced security and scalability. The award is a testimony to our pursuit towards delivering breakthrough innovations in banking products, customer service, process design, and distribution channels, leveraging the Finacle platform. We feel honored and elated that our digital transformation has been recognized at this year’s Infosys Finacle Client Innovation Awards.”

Large Bank Winner: Standard Bank Runners-up: Bank of India and Kotak Mahindra Bank

Mid-size Bank Winners: IndusInd Bank and National Commercial Bank Jamaica Runner-up: Federal Bank

Small Bank Winners: Bancolombia Nequi and Liv. by Emirates NBD Runners-up: Cosmos Co-operative Bank and Pan Asia Banking Corporation PLC

Profi le Getting its technology foundation right

Launched in May 2017, Liv. from Emirates NBD, is the fastest- Liv. was built on the principles of simplicity, intuitiveness, smart growing bank in the UAE and its fi rst digital-only bank. It off ers a analytics, API connected ecosystems, and digital-native from the lifestyle-fi rst intuitive banking experience targeted at millennial beginning. This was unlike other banks that digitize its service and Gen Z customers. Signing up over 370,000 customers, Liv. off ering by replicating many of the traditional products, processes, continues to acquire customers at 10-20 percent of the cost of a and services: traditional bank. • Liv Today, A curated daily feed of information specifi c to “Liv.”ing the millennial life customer’s lifestyle including deals specifi c to their likes • Liv Bank, opens accounts instantly from a smartphone by At a time when consumer lifestyles were highly connected and scanning an Emirates card. Specifi cally, Liv off ers features digital, banks in the UAE still required a branch visit for most targeting lifestyle banking and millennials transactions. This did not resonate (particularly) with the younger • Liv Goal Account, enabling customers save money towards customers who were used to doing everything online. Finding personalized goals that UAE millennials have twice the spending power of their peers, • Liv Wallet, provide insight into customer’s fi nancial lives Emirates NBD decided to target this group with Liv., a digital-only proposition that was aligned with their lifestyle. • Liv Credit, a card that allows customers to be specifi c about the kinds of rewards they earn The Bank wanted Liv. to be more than a “me-too” off ering by • AI-enabled virtual assistant, called Olivia to service customer bringing something new to UAE banking. It devised Liv. keeping in inquiries through digital channels mind the future of fi nancial services, when ecosystems would drive • Liv Sure, the UAE’s fi rst digital insurance product for mobile value creation in banking. Emirates NBD deployed a young team phones, in partnership with insurer RSA of strategists to build Liv. from scratch. Since Liv. would be part of Emirates NBD – and not an independent subsidiary requiring Liv. needed a fl exible and open technology platform to power separate resources and a banking license – it could get started its vision of banking. Emirates NBD leveraged its existing core quite quickly. banking partner Infosys Finacle, for the technology to complete rollout. Finacle’s open platform helped Liv. accelerate development But despite being part of Emirates NBD, Liv. runs independent of of its partner ecosystem. The platform’s product factory enabled the former and has its own marketing, customer service, customer the bank to launch Liv. specifi c products focusing on lifestyle engagement and UX teams. Its growth outstrips that of Emirates of the millennials. The choice helped Liv. reduce time and cost NBD, which is leveraging the digital-only bank to entrench itself to market for its new propositions and run its operations at an into customers’ lifestyles and spearhead its customer acquisition unprecedented effi ciency level. The cost-to-income ratio of Liv is strategy. nearly half of Emirates NBD. Emirates NBD itself is a world leader with cost-to-income ratio of nearly 32%.

54 | External Document © 2020 EdgeVerve Systems Limited Big wins Liv. has been hugely successful, acquiring the fi rst 100,000 customers in just 14 months and the next 100,000 in half that time. It is UAE’s fastest growing bank, acquiring 30 percent more customers than the next player, and having one of the lowest customer acquisition costs in the market.

It also has one of the most engaged user bases in the world, with more than 70 percent of customers active every month. Liv. has been instrumental in driving exponential growth of the Bank’s fi nancials; revenues and deposits grew 16 times and 6 times respectively in the second year of operation.

Today, the institution has more than 370,000 customers, which is 8% of the banking market in the UAE captured in just three years. Five out of every six new customers are millennials, illustrating the eff ectiveness of their marketing and communication eff orts toward that demographic. The bank also has an extremely successful referral program — 80% of new customers come through existing users of Liv.

Jayash Patel, Head of Liv. by Emirates NBD – “We are honored and absolutely delighted to be recognised for our eff orts on a global platform such as Infosys Finacle. We congratulate and thank the incredible dedication, trust and support that we continuously receive from our customers and partners. As an ongoing digital transformation continues to sweep across the fi nancial sector, we look forward to continue to reimagine banking in the region by bringing innovation, fi nance and lifestyle together.”

Profi le for customers to open an account, using facial and voice recognition. Nequi is the digital-only bank of Bancolombia. It is open to anyone – and not just Bancolombia customers – with a Colombian identity document, local mobile number, and Unsecured digital loans market - the a smartphone with Internet connectivity. A simple, entirely impending opportunity digital, registration process enables customers to open a Nequi Bancolombia saw potential for off ering small, unsecured, savings account that they can use to manage their money digital loans through Nequi to low-income customers who without paying any fee or commission. typically needed funds at the end of the month to meet their expenses. Since no bank was off ering this type of loan, people Introducing a digital-only bank in were forced to borrow from exploitative, unorganized and Colombia unregulated sources. Nequi is the fi rst digital-only bank in Colombia, that uses The Bank piloted a “Lifesaver Loan” from Nequi for amounts technologies to improve customer experience and enable between COP 100.000 and COP 500.000, and a maximum them to better manage their fi nances over time. Even though repayment period of one month. The loan, which requires no Nequi is owned by Bancolombia, it is completely independent documentation, co-debtors or guarantees, is credited within 5 wherein customers can open an account without being minutes through the Nequi app. affi liated to Bancolombia. The company likes to describe itself Lifesaver Loan stands out for being the fi rst loan product to as the Spotify or Netfl ix of fi nance. off er as little as COP 100.000 and also for being 100 percent Anyone older than 13 years old can open an account at Nequi digital. Instead of waiting for loan requests, Nequi pre-approves by downloading the mobile app, in just a matter of seconds. customers based on behavior, and proactively off ers them a The onboarding process and KYC has been designed in loan via a text message. such a way that it makes it extremely easy and convenient

Andrés Vásquez, Chief Executive Offi cer, Bancolombia Nequi – “Lifesaver is a low amount credit loan. It was designed by Nequi in collaboration with its users with the aim to support them when their salary is not enough for basics needs, such as transportation or food. This recognition made by the Finacle Customer Innovation Program encourages us to keep supporting this initiative to benefi t more people and help them be part of the fi nancial system. In this way, it contributes to their credit experience, and complements their fi nancial life as well as consolidate their economic capacity for the future.”

Profi le leveraged its existing core banking application, mobile app, online banking platform, customer analytics and simple e-mail National Commercial Bank Jamaica Limited (NCB) has a history to transform the way in which small/micro loans are off ered in dating back to 1837 as well as a pioneering legacy. the marketplace.

Today, NCB is the largest fi nancial group in Jamaica, providing Unlike the traditional loan process, which depended on highly competitive and innovative products and services to manual eff ort and therefore required a minimum loan meet every type of need – from deposit accounts, unsecured threshold to cover the cost to serve, NCB Pay was based on and secured loans and credit cards to overdraft lines, foreign a customer-friendly, cost-eff ective process that could serve exchange, personal banking and private banking services. even the smallest loan viably. So now the Bank could off er tiny unsecured loans to a wide cross-section of customers, Tapping the micro loan market conveniently and seamlessly. A number of NCB’s customers wanted small and micro loans Loan processing and disbursement is achieved in four steps that the Bank could not service because they were below the – analyze customer data, determine off er, reach the customer minimum threshold; therefore these customers were forced to on digital channels and fulfi ll the loan digitally. The Bank uses borrow from microfi nance companies. NCB devised a solution in-house analytics to pre-approve customers, without the need to hold on to this sizeable business in the form of NCB Pay for an application. Customers receive an email off er and a code Advance Loan, the only pre-approved digital microfi nance on a mobile app that they can accept to receive the loan; they facility in the market. In the same way that Uber used existing can also renew the loan online. technology to transform the cab rental experience, NCB has

58 | External Document © 2020 EdgeVerve Systems Limited Reaping the benefi ts NCB Pay Advance has enabled National Commercial Bank Jamaica to increase its lending business in a segment that it could not serve earlier. It has also allowed the Bank to diff erentiate itself by off ering the country’s only pre- approved digital microfi nance loan. Being digital from end-to-end, NCB Pay Advance off ers other advantages too, including better customer experience and a boost to channel migration. By virtue of being paperless, branchless, 24x7 and processed straight through, the solution also saves the Bank some operational costs.

Nadeen Matthews Blair, Chief Digital & Marketing Offi cer and Chief Executive Offi cer NCB Foundation “NCB recognizes that competitive advantage lies in being ‘fi rst to market’ with fi nancial solutions that maximize the use of technology and fi t the various lifestyles of the customer segments that we serve. Our partnership with Infosys Finacle has been a rewarding experience. We have benefi ted from the team’s expertise, and their commitment to quality and customer satisfaction has helped us to deliver world-class digital fi nancial services to our customers. We are honored to be recognized at the Finacle Client Innovation Awards. This recognition has strengthened our resolve to continuously improve, innovate and provide delightful customer experiences.”

Profi le loans on digital channels, and at the same time also looked at ways to make branch-issued loans more seamless and effi cient. From small beginnings more than 150 years ago in Southern Africa, Standard Bank has grown into a leading fi nancial services organization, driving the economic growth of Africa. Smart implementation The Bank is present in 20 countries across the continent, and DevOps deployment of the multi-channel architecture provides day-to-day banking as well as business, corporate, layers as well as automated deployment on the Finacle commercial, wealth and investment services. Omnichannel Hub and Core layers enabled Standard Bank to deploy the solution simultaneously in multiple countries. Filling a huge gap Agile development allowed quick directional changes and delivery despite several constraints. This involved simplifying In 2019, Standard Bank decided to move in on a huge and standardizing integration patterns across various internal opportunity in the area of unsecured lending in the African and external data sources to provide a platform golden countries outside its home market. Although there was a big copy. A unifi ed solution was developed by integrating Data demand for small, unsecured loans in these countries, it went Reservoir, Credit Decision Engine, Bureau, MCA, and UI layers unfulfi lled because of the banks’ systemic ineffi ciencies and (Finacle Core/Omnichannel Hub/Mobile Banking). Innovative cumbersome branch processes. Customers were required to deployment strategies added stability and mitigated inter make several visits to the bank before they got the money in country dependency risk. hand.

Rightly believing that the only way out was to digitize unsecured lending, Standard Bank decided to provide such

60 | External Document © 2020 EdgeVerve Systems Limited Great results All these eff orts have paid off handsomely. Standard Bank eclipsed its initial target of unsecured loans worth ZAR100 million over 12 months very quickly, and by the end of 7 months had issued loans in excess of ZAR353 million over digital channels. It was able to serve more than 10,000 customers with loans that were credited into their operative accounts within an unbelievable 45 seconds.

Craig Bouwer, Head Client Journeys, Personal and Business Banking Africa Regions, Standard Bank “It is an honour for Standard Bank’s digital [unsecured] lending platforms to be recognized at the Infosys Client Innovation Awards 2020. As Africa’s largest bank by assets, we have undertaken to bring innovation to every aspect of our IT systems and the employee experience to enable rich interactions with our customers. Being able to reach customers across our African footprint in innovative and convenient ways is now more important than ever. Our partnership with Infosys is supportive of our vision to become a fully automated, and universal fi nancial services organisation.”

Kotak Mahindra Bank Limited Shekhar Bhandari, Senior Executive Vice President & Business Head, Global Transaction Services & Precious Metals, Kotak Mahindra Bank Limited – “Kotak Mahindra Bank’s innovation strategy has been formulated keeping the customers’ requirements and experience at the locus of all decision making. This year we started putting up systems in place that could operate at scale and offer a complete digital experience to the clients. We have identified new opportunities in the digital space and creating structured solutions in line with customers’ requirements to act as enabler for business. We have enabled faster technology implementation at client’s end, quicker turnaround time and efficient service framework to support customers’ requirements. Along with innovations to improve the existing product capabilities and the channels through which the customer is able to access them, there is a clear focus on disruptive innovation by looking at ways of challenging the industry’s status quo. We have been key strategic partners for many years now. With Finacle as the core platform, we are able to introduce numerous initiatives and cutting-edge technologies which focus on completely transforming financial services for clients. We will continue to be long term partners and together will endure bringing more value to our organizational objectives of driving innovation and growth. We are honoured to be nominated as finalist at the Infosys Finacle Client Innovation Awards 2020. This year has been a year of innovations and digital transformations, thus helping corporates tear down the geographical boundaries and emerge as organisations leading the digital revolution. Finacle Client Innovation program has been designed to facilitate banks and financial institutions develop and incubate new products and processes for enhanced customer services, inculcate the habit of constantly striving to improve these services and providing an ecosystem to mutually share these ideas to a larger audience.”

Emirates NBD Adrian Hobbs, Senior Vice President, Technology Platforms and IT Operations, Emirates NBD – “Emirates NBD has been successfully collaborating with Infosys Finacle for over 14 years. We are glad and proud to be recognized by the Finacle Client Innovation Program with the award for the Modern Technologies led Innovation category. Introducing Infrastructure as a Service (IaaS) was one of our key transformation initiatives to revolutionize our infrastructure platforms with automated provisioning and CICD capabilities, along with modernizing and streamlining our processes for Change Management, Patch Management, Vulnerability Management and Demand Management. As a result ENBD can deploy a full Finacle Core Banking production instance in less than four hours.”

RBL Bank Topendra Bhattacharjee, Head - Digital Banking, Direct Banking & Analytics, RBL Bank - “Our customers continue to be the centerpiece of our channel innovation approach, with all our discussions being structured around designing seamless customer journeys. We rely heavily on Machine Learning algorithms to ensure the right choice of products for customers. Infosys’s established leadership and their expertise in this segment enables us to experiment and innovate. Both the teams at Infosys and the Bank are aligned towards delivering the best digital experience. With Infosys as our partner we are able to reinvent our banking solutions and offer new services with an omni-channel experience. We are proud to have been recognized at the Infosys Finacle Client Innovation Award 2020 and look forward to deliver many more innovations.”

RBL Bank Mangesh Jadhav, Vice President – Information Technology, RBL Bank – “Risk control is a cardinal virtue for our bank, and there can’t be a trade-off between risk and operational convenience or customer service. The daunting task faced by most in our industry is ensuring innovation without compromise on risk, and ensuring risk control without compromise on customer service. Our obsession to have achieved all three at the same time has led us to deliver this utility, which is innovative in its methodology and has added much needed risk controls in our core banking without any impact on customer service. We are thankful to Infosys for acknowledging us at this prestigious forum, this will boost teams to deliver many such innovations.”

Andhra Bank KT Venumadhav, General Manager, Andhra Bank (Now Union Bank of India) - “We feel happy and proud to know that Andhra Bank is being honored for the third consecutive year, at the Infosys Finacle Client Innovation Awards. Our more than a decade long relationship with Infosys has played a critical role in refocusing core business activities and providing simple banking and enhanced customer experience. It helped us in innovating solutions to all the challenges, be it, Process Automation, Digital Transformation, Demonetization or even COVID19. At its core, the journey had a fundamental redesign of how we engaged customers through change in process and technology delivering value to their relationship with the Bank. We thank Infosys for recognizing our efforts and honoring through awards for our products 1) BILLCOLL – ABECOLL, 2) Finacle online Banking Application and 3) Chatbot- ABHi.”

Australian Military Bank Enis Huseyin, Chief Information Officer, Australian Military Bank – “This innovation has been very meaningful for the bank as they move towards 60,000 members. The mobile on-boarding experience sets the member expectation, we wanted to clearly signal to a new member that they can expect a highly satisfying and effective banking relationship with us. The result of this work is a best of breed gateway into our business for all new members, including those sitting at the tech-savvy end of the spectrum, that delivers on an expectation of best practice user experiences. Infosys Finacle provided us with the benefit of deep aggregated experience in the sector to deliver a pleasingly frictionless on-boarding process that clearly positioned Australian Military Bank’s member first mindset.”

Asia Green Development Bank Asia Green Development Bank Spokesperson – “Bank’s Innovation Strategy is largely focused on providing delightful Client Experience at the optimal cost as Myanmar is an upcoming market with much smaller customer base as compared to rest of the world. It is a great moment to be recognized by one of the largest software company in the world. It also validates our approach towards innovation as Infosys itself is the symbol of Innovation. It was the key decision taken by our MD Htoo Htet Tay Za to go with Finacle Core Banking Solution as it provided a robust and scalable platform at the optimal cost. Infosys has been a great partner as it filled up with the adequate implementation and in time support. The response from Infosys has always been phenomenal.”

DCB Bank Prasanna Lohar, Chief Innovation Officer, DCB Bank - “Today organizations believe that continuous innovation is the key to competitive differentiation. Being an innovative organization means to create new ideas and realize them in the real world. DCB Bank Innovation Carnival that’s always on and sitting at the center of our continuous innovation agenda. DCB Bank Innovation carnival seeks to revolutionize the way banking & financial services are delivered by harnessing Innovation and Technology to enhance accessibility. It provides great environment for students, development communities, domain experts & start-ups to build Innovative solutions. By building effective collaboration through series of multicity hackathons and meetup with outside organizations, encouraging internal teambuilding and consulting with our customers, our innovations become not only unique but also meaningful too. This makes DCB Bank innovation Carnival unique innovation story in India.”

Golomt Bank Sainbileg Mandakh, Chief information Officer, Golomt Bank – “Golomt Bank is honored and delighted to have been nominated for the Infosys Finacle Client Innovation Awards 2020. This award nomination is a testament of how Golomt Bank’s thousands of dedicated employees are striving towards improving the lives and help manage the finances of our customers through customer centric digital transformation. Throughout our continuous effort to provide our customers with the best services, Infosys Finacle’s exceptional architecture has always given us the means to do so and to be always pioneer in the market.”

IDBI Bank Ltd IDBI Bank Ltd Spokesperson said - “IDBI Bank Ltd. aims to be the Most preferred and trusted bank enhancing value for all stakeholders. Delighting customers with our Digital Banking services and comprehensive suite of Best in class Financial solution. IDBI Bank continues to lead in advanced technology platform in banking Industry by partnering with Infosys and migrating to a globally recognized banking solution – “Finacle 10x”. Finacle is like a glide on the racetrack of technology to accomplish performance in banking sector, while giving secured digital backbone for the business beyond boundaries”

Pan Asia Banking Corporation Gerald Wanigaratne, Head of Information Technology, Pan Asia Banking Corporation – “Pan Asia Bank’s innovation strategy is driven by a strong focus on identifying and anticipating customer requirements and delivering solutions that fulfills them. As such it is a process which starts with customer and then utilizes appropriate technology to deliver an efficient and simple solution. Experience of partnering with Finacle has been a rewarding one from a business perspective as well as educational perspective since the solutions and support that was provided to the bank has equipped us to develop solutions that have given us a competitive edge in the market. Being recognized at the Finacle Client Innovation Program is a great inspiration and an encouragement for us to further commit to be innovative in finding true value solutions to empower our customers”

Shivalik Mercantile Co-operative Bank Harsh Mittal, Chief Financial Officer, Shivalik Mercantile Co-operative Bank- “The Shivalik Bank team feels privileged to be recognized for its innovation capabilities as part of the Finacle Client Innovation Awards. Shivalik as an organization, aspires to be at the forefront of banking technology providing the best in class services to its customer base. Innovation is embedded in the mindset of all Shivalik employees and is driven by an urge to solve problems that the traditional banking system has been unable to cater to. Our teams are encouraged to think out of the box and challenge the norm constantly even to the extent of being unconventional. Our driving force is our belief that banking has to be available to every person in the country and only technology can make this possible in a scalable, cost effective and sustainable manner. Effective use of technology requires strong and capable partnerships. Our association with Infosys Finacle is one such partnership which has been based on innovation from the outset - being the first banking client of Infosys Finacle in India to deploy the core banking and digital banking suite on the cloud. We have found a willing partner in Infosys Finacle to understand our technology needs and deliver solutions that are right for us and are future proof. We are proud of our association with Infosys Finacle. Our teams have worked hard to undergo a complete technology transformation and upgrade over the last 12-18 months. The fact that three of our submissions have received acclaim from the Finacle Client Innovation Program which has received nominations from all parts of the world is testament to our teams’ hard work and innovative spirit. We would like to thank the jury for this recognition and events such as this re-energize our teams to continue pushing the boundaries in the coming year”

Chaitanya Godavari Grameena Bank (Andhra Bank (RRB) T Kameswara Rao, Chairman and Dr B V Ramanarao, General Manager, Chaitanya Godavari Grameena Bank (Andhra Bank (RRB) - “Our Bank’s innovation strategy is aligned with all the business processes of the bank, leveraging technology to achieve competitive advantage and bank’s objectives. Here in this case FI Gateway Integration with Finacle CBS made our digital product offerings perform better and more reliable for customers from the countryside. In 2010 CGGB implemented Infosys Finacle, as Core Banking Solution. Since the nascent stage of our Finacle CBS on boarding, Infosys has been instrumental as technology service provider to sail through various phases of Bank’s business forward, in terms of business which has increased by 6 times, embracing all the new technology products such as all the NPCI products like Aadhar Enabled Payment Systems, Rupay cards, eCommerce, PoS, NACH, CTS, ATMs, Mobile banking, PFMS, and the trending UPI etc,. in Fin Tech sector thus enabling us to have pioneer position on digital front. CGGB is profoundly delighted to get recognized at this prestigious Finacle Client Innovation Program. Participation in this event shall stand as a testimonial to our bank’s continuous efforts in improving our IT products/applications thus increasing operational efficiency in delivering digital products for our customers.”

Indian Overseas Bank Vairam Somasunderam, General Manager, Indian Overseas Bank - “We at the Information Technology Department of Indian Overseas Bank believe in ‘Innovation Everywhere’ strategy to deliver continuous improvement in our deliverables to enhance user experience. Our ambitious teams always strive for ‘What’s Next’ by interacting with Business users, Customers and Fin-Techs to drive innovation as a culture within the organization. The shift from In-house proprietary CBS to commercial off the shelf CBS model was a significant transformation decision undertaken by our Bank during 2015. The choice of the right technology – Finacle from Infosys has made it a cherished journey. The team spirit exhibited by the Infosys’s Finacle product team all through this journey has been appreciable considering the quality of support and solutions provided to glide through various challenging business requirements. We are delighted to be an awardee at Finacle Client Innovative Program’2020 and appreciate the initiative of Infosys to recognize the innovative spirits through these events. We are sure that such events will kindle the minds to bring out more innovative use cases for the benefit of the user community, while reiterating the openness and robustness of Finacle framework to meet the ever-growing unique business needs.”

The Ernakulam District Co-Operative Bank Ltd Sanuraj P S, Deputy General Manager, The Ernakulam District Co-Operative Bank Ltd - “Innovation is a transformation that unlocks new value into the system”. Driving with Infosys Finacle for the last two decades, we have witnessed a lot of highlights and achievements in our banking business. It enables us to become a pioneer in bringing technology-enabled products & services to customers of co-operative sector. Being a winner at the Finacle Client Innovation Award Program-2020, it is a great inspiration to find out more about transformation & innovation in the journey ahead.”

Cosmos Bank Arti Dhole, Chief Information Officer, Cosmos Bank – “Innovation continues to be the theme for the Cosmos Bank, being a prominent technology driven bank in the banking industry. We take great pleasure to share this moment of glory for the bank and feel proud to be receiving the Infosys Client Innovation award 2020 for Customer Service innovation for our Cosmo Care Product for medical emergency. It is indeed a moment of pride for all of us!!”

67 | External Document © 2020 EdgeVerve Systems Limited About Infosys Finacle Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging ﬁ nancial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights– driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.

Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artiﬁ cial intelligence, and blockchain requirements of ﬁ nancial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking solution, on average, enjoy 7.2% points lower costs-to-income ratio than others.

For more information, contact fi [email protected] www.fi nacle.com

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