As digital banking transformation becomes a key competitive tool, Global Finance recognizes those banks making the most-effective and most-innovative changes.
On October 27, Global Finance presented the World’s Best Digital Bank Awards at its inaugural Digital Bank Conference and Awards Dinner held at The Brewery in London. Round 1 winners in individual countries and regional subcategories previously appeared in the magazine’s September 2015 issue. Overall winners for regional and global corporate/institutional digital banks and consumer digital banks were announced at the awards dinner, as were the overall global subcategory winners and the Best Islamic Digital Bank.
The grand prize of Overall Best Digital Bank was presented to Citi, which amassed 16 Round 2 awards, in total—including seven global subcategory awards for Best Corporate/Institutional Digital Bank, regional winner for Best Corporate/Institutional Digital Bank in every region other than North America, and the Best Global Corporate/Institutional Digital Bank. Standard Chartered was awarded Best Global Consumer Digital Bank, along with five other consumer banking awards, including four global subcategory wins.
Global Finance added the Islamic Digital Awards category to reflect the increasing sophistication in the digital products and services Islamic banks offer and the diverse digital channels by which they interact with their clients. The Best Islamic Digital Bank was awarded to Boubyan Bank of Kuwait. Abdulla Al-Najran Al-Tuwaijri, deputy chief executive officer, Boubyan Bank stated: “This award is very special since it comes from a prominent international organization known for its objectivity and credibility. The awards crown our efforts over the past years when the bank invested in the field of information technology and e-banking services.”
Wells Fargo won Best Corporate/Institutional Digital Bank in North America and picked up the Best in Social Media award in the global subcategory.
Tatra banka was the Best Consumer Digital Bank in Central & Eastern Europe, as well as a consumer global subcategory winner for Best Website Design. Akbank from Turkey was a global consumer subcategory winner for Best Mobile Banking App and won Best Consumer Digital Bank in Western Europe. Other winners announced during the night included Nordea, YES Bank, CTBC Bank, Banco Santander Río and Scotiabank.
Global Finance’s Best Digital Bank Awards (formerly called the World’s Best Internet Bank Awards) are based on submissions from banks that wish to be considered. This year, 262 banks from around the world entered the competition. Representatives from Infosys, a global leader in consulting, technology and outsourcing solutions, constituted the judging panel. Based on the panel’s evaluations, Global Finance’s editors made the final selections.
Winners were selected based on strength of strategy for attracting and serving online customers, success in getting clients to use Web offerings, growth of online customer base, breadth of products offered, evidence of tangible benefits gained from Internet initiatives, and website design and functionality. Subcategory winners were selected on the basis of relative strength of products and services.
2016 will be the 17th year of the Digital Bank Awards. A Call for Entries will be released soon. The Awards allow winners to gain a strong advantage and marketing edge over their competition and enable honorees to stand out within their own organizations, leading to improved staff-recruiting/retention and personal recognition.
This year’s awards coverage also includes interviews with some of the winners from Round 2 who discuss the latest industry trends in corporate and consumer digital banking.