Manama, Bahrain: Bank ABC, MENA’s leading
international bank, has emerged as the Middle East Winner at ‘The Banker’s
Innovation in Digital Banking Awards 2022’ by the Financial Times. The award
underscores the success of the Bank’s multi-year Group digital transformation programme
aimed at building the ‘bank of the future,’ while fuelling innovation and
digital banking transformation in the MENA region and beyond. It recognises the
Bank’s agile cloud-only innovation approach centred around customer needs and
endeavours to enhance, leapfrog and disrupt legacy wholesale and retail banking
models.
Commenting on this award,
Bank ABC Acting Group CEO, Mr. Sael Al Waary remarked: “We are honoured to be
recognized as the Middle East winner in The Banker’s Innovation in Digital Banking
Awards 2022. Receiving this award inspires us to continue to invest and
innovate to create the bank of the future. Innovation is at the heart of our
strategy, and we are committed to creating a new digital platform leveraging
our digital eco-system to deliver the best banking experience for our
customers.”
“I sincerely thank The
Banker for this prestigious recognition and our Board, shareholders and
colleagues for their commitment to our ongoing digital transformation journey.”
On behalf of The Banker,
the Deputy Editor, Liz Lumley said, "Bank ABC impressed with its
comprehensive transformation of both the retail and wholesale bank to take
advantage of cloud-native technologies, Artificial Intelligence (AI), data
analytics and open APIs, while the goals of ABC Labs presented a clear and
mature innovation strategy."
The evaluation took into
account three key examples, namely the Wholesale Bank’s accelerated digital
transformation and leading-edge digital deployments that have transformed
client experience, including a regional-first digital corporate onboarding
service and modernised Supply Chain Finance platform; the continued
customer-driven innovation at the digital mobile-only ila Bank, including 24
app releases within the last 18 months; and the role of ABC labs in
spearheading digital innovation within the Group and across the industry.
Most notably, ABC Labs
facilitated a flagship digital currency payment, in collaboration with the
Central Bank of Bahrain and JP Morgan, and led a major Cloud transformation
exercise for the Wholesale Bank, enabling it to become increasingly agile,
innovative and data-driven.
The Banker’s highly coveted
Innovation in Digital Banking awards are considered the benchmark for
innovation excellence and recognizes the most transformative digitisation
initiatives in the global banking industry. In addition to evaluating
leading-edge technology implementations, the organisers gauged the role of
leadership, culture and collaboration in attaining success, and Bank ABC has
excelled across all these dimensions.
|
Mr. Sael Al Waary
Acting Group CEO of Bank ABC |