IBS Intelligence announces its Global Fintech Innovation Awards 2023 results

IBS Intelligence Global Fintech Innovation Awards 2023 – celebrating the coolest in Banks and Fintechs.

Mumbai, India | London, UK – IBS Intelligence (IBSi) announced its Global FinTech Innovation Awards (GFIA) to identify and honour banks, financial institutions, and technology players for their excellence in driving impact through banking technology implementations and innovations using emerging technologies.

Nikhil Gokhale, Director – Research and Digital Properties at IBS Intelligence, said, “In an era defined by rapid change, the GFIA signifies a pivotal moment in banking technology. Today, as digital landscapes evolve, these innovations are even more relevant, ensuring resilience, security, and unparalleled user experiences. Congratulations to the winners for exemplifying the transformative power of technology in shaping the contemporary financial landscape.”

Milind Bapat, Sr Vice President, Digital Services, NSE IT shared, “FinTech events such as the GFIA contribute in two ways. Firstly, you learn a lot by having conversations with different FinTechs, and understanding how they are innovating the financial space. What fintech developments I forecasted for the next 3-5 years are already in execution to be launched in the next three months. Secondly, it is a great opportunity for collaborations to take place, keeping aside the competition in the market”.

The fifth edition of the GFIA saw more than 105 banks and financial institutions and 75 technology vendors participating. The team evaluated 275+ technology implementations across from 47 countries across the globe in 30 categories.

Dr. Sanjay Negi, Global Delivery Head, Tech Mahindra, while accepting the Most Agile Deployment award in the Most Innovative Cloud Deployment with ANSA Bank, shared, “GFIA as an event brings different perspectives to the fore. It helps us understand how industries are evolving, what are the new advancements taking place around, in other parts of the technology space, and help us take charge of how to enhance products and make things better, make things more enabling in terms of its functionality.”

This year, IBSi GFIA recognised the most innovative and impactful projects, around the world, across 30 categories. The winners this year are:

Best BankTech Implementation Awards

1. Best Core Banking Implementation

  • Best Tools and Practices Adopted | NDC Tech/ Systems Ltd | Samba Bank, Finonyx | Signature Bank
  • Best Project Implementation | Temenos | Capital Bank of Jordan

2. Best CRM System Implementation

  • Most Impactful Project | Kiya.ai | Jordan Ahli Bank

3. Best Digital Channel / Platform Implementation

  • Best Program Vision | Infosys Finacle | Union Bank of India
  • Best Tools and Practices Adopted | Infosys Finacle | Punjab National Bank
  • Most Impactful Project | Finastra Kotak Mahindra Bank, Modefin | GCB Bank
  • Best Project Implementation | Backbase | Eastern Bank

4. Best Digital Lending Implementation

  • Best Program Vision | FintechOS | Sunsave Group
  • Best Tools and Practices Adopted | EgabiFSI | The Egyptian Federation for Financing Medium, Small and Micro Enterprises
  • Most Impactful Project | Nucleus Software | Poonawalla Fincorp
  • Best Project Implementation | Concentrix | ICICI Bank, Veefin | BRAC Bank

5. Best Retail Payments System Implementation

  • Best Program Vision | Pismo | Flash
  • Most Impactful Project | Comviva

6. Best Payment Hub/Wholesale Payments Implementation

  • Most Impactful Project | BPC Banking Technologies | Monizze

7. Best Wealth Management & Private Banking Implementation

  • Most Impactful Project | Temenos | ABN Amro
  • Best Project Implementation | Additiv | Atram

8. Best Treasury Implementation

  • Best Program Vision | MORS Software | Monzo Bank
  • Most Impactful Project | Profile Software | Diamond Trust Bank
  • Best Project Implementation | Murex | STC Pay

9. Best Trade Finance Implementation

  • Best Tools and Practices Adopted | Kyzer Software | Saraswat Bank
  • Best Project Implementation | Kyzer Software | SBM Bank

10. Best Supply Chain Finance Implementation

  • Best Program Vision | Finverity | National Bank of Fujairah
  • Best Tools and Practices Adopted | Vayana | IDBI Bank
  • Most Impactful Project | Qualco | Saudi National Bank
  • Best Project Implementation | Finverity | National Bank of Fujairah

11. Best Transaction Banking Implementation

  • Best Tools and Practices Adopted | Azentio | Vision Bank
  • Most Impactful Project | Aurionpro | Punjab National Bank

12. Best Risk Management Implementation

  • Best Program Vision | Adenza | BEC Financial Technologies
  • Most Impactful Project | Clari5 | Karnataka Bank
  • Best Project Implementation | SAS | HSBC

13. Best Investment & Fund Management Implementation

  • Best Project Implementation | Profile Software | Fund Bank

14. Best Islamic Banking Implementation

  • Best Program Vision | Temenos | Al Salam Bank
  • Most Impactful Project | Qualco | Saudi National Bank
  • Best Project Implementation | Azentio | Summit Bank

15. Best Quality Assurance/Quality Engineering Execution

  • Most Impactful Project | Yethi | Mbank

16. Most Effective Digitization / Paperless Initiative

  • Best Tools and Practices Adopted | ProgressSoft | BENEFIT Company
  • Best Project Implementation | Infosys Finacle | Khan Bank


Best FinTech Innovation Awards

1. Most innovative Digital Onboarding rollout

  • Best Program Vision | Codebase | AJIB
  • Most Agile Deployment | NETinfo | ANSA Bank

2. Most Innovative Use of AI /ML

  • Best Program Vision | Fujitsu Spain | Informa D&B
  • Most Agile Deployment | Kiya.ai | Nainital Bank
  • Most Impactful Project | VNSC | Finhay Joint Stock Company
  • Most Innovative Project | Impactsure | ICICI Bank

3. Most Innovative API / Open Banking Model

  • Most Agile Deployment | Modefin | Bank of Bhutan
  • Most Impactful Project | Kiya.ai | Punjab & Sind Bank
  • Most Innovative Project | Alliance Bank Berhard

4. Most Innovative Data Services / Data Warehouse Project

  • Best Program Vision | TEAL | HDFC Bank
  • Most Impactful Project | Fujitsu Spain | Informa D&B

5. Most Innovative use of Blockchain in Banking

  • Best Program Vision | Crystal Blockchain | JSC LPB Bank
  • Most Innovative Project | R3 | ABI Lab

6. Most Innovative use of Process Automation

  • Most Agile Deployment | Impactsure
  • Most Innovative Project | Nucleus Software | Mahindra Rural Housing Finance Ltd
  • Most Impactful Project | Credgenics | IREP Credit Capital

7. Most Innovative Analytics Deployment

  • Most Innovative Project | TEAL | HDFC Bank
  • Most Impactful Project | Credgenics

8. Most Innovative Cloud Deployment

  • Best Program Vision | Codebase Technologies | Ajman Bank
  • Most Agile Deployment | Tech Mahindra | ANSA Bank
  • Most Innovative Project | Kiya.ai | Kafalah

9. Most Innovative Digital Wallets Deployment

  • Best Program Vision | Modefin | Meghna Bank
  • Most Agile Deployment | Comviva | NDPC
  • Most Impactful Project | SaaScada | Allica Bank
  • Most Innovative Project | Pismo | NG.Cash

10. Most Innovative Customer Loyalty Initiative

  • Most Agile Deployment | Mambu | Tilta

11. Most Innovative Insurtech Implementation

  • Most Impactful Project | Elevate Life
  • Most Innovative Project | Income Insurance Limited

12. Most Effective Compliance / RegTech Deployment

  • Best Program Vision | Wolters Kluwer | Ally Bank
  • Most Impactful Project | Kiya.ai | AgriBusiness Rural Bank

13. Most Effective Cybersecurity Deployment

  • Most Innovative Project | Cobis Topaz | Pagbank

14. Most Effective Bank-Fintech Partnership

  • Most Agile Deployment | Backbase | Eastern Bank
  • Most Innovative Project | Credable | Axis Bank


About IBS Intelligence

Established in 1991, UK-headquartered IBS Intelligence is the leading global pure-play Financial Technology research, news analysis, and advisory firm. IBSi’s Sales League Table is considered the global industry barometer ranking leading banking technology suppliers. Its research reports comprehensively cover international suppliers across all Banking Technology & Financial Technology systems and are also distributed by Thomson Reuters, Bloomberg, and S&P Capital IQ.

Cedar-IBSi’s FinTech Lab has been home to global FinTechs who need a “soft-landing” opportunity in India and the MENA region. Since 2018, the Cedar-IBSi lab has been home to global technology companies of different shapes and sizes, each of whom have used membership benefits to learn, partner, and accelerate.

The group company, Cedar, is a global management consulting firm with deep expertise in formulating and executing a business strategy for financial services clients worldwide with a significant focus on leading their technology and digital transformation.

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