Bank ABC’s path-breaking innovation
and ila Bank’s digital assistant, Fatema shines at the prestigious
international awards recognizing financial services organisations for
innovative use of digital technologies.
Manama, Bahrain: Bank ABC has been named the winner of
the 2020 Gartner Eye on Innovation Award for financial services in Europe,
Middle East and Africa (EMEA) region.
The award recognises Bank
ABC’s remarkable approach to customer service for its new-age digital, mobile-only
bank ila, through an emotionally intelligent digital-human agent with
autonomous movements and facial expressions, named Fatema.
The Gartner awards celebrate
innovative use of digital technology-enabled capabilities, products or services
to highlight "best-in-class" financial industry initiatives launched
within the past 12 months. Bank ABC won the award after a rigorous evaluation process
which included two rounds of voting, competing against 9 leading international financial
institutions, out of a total over 200 entries submitted.
“We have always been
committed to pushing the envelope of digital innovation in the region and are
thrilled to be the first bank from the Middle East to have received this world-renowned
recognition. This award distinguishes us from our peers in the EMEA region, and
it also showcases what is possible when leveraging Bahrain’s solid fintech
infrastructure and ecosystem” remarked Sael Al Waary, Deputy Group CEO, Bank
“Our Group Innovation
function spearheaded this initiative to take the banking experience to new
frontiers. I want to congratulate the team and to thank them for their
innovative ideas and the hard work that went into developing this product. AI
and data science will soon be embedded deep in our lives, as individuals and as
a community at large. It will redefine the workforce and the way we do business
across industries including banking and finance. At Bank ABC we recognise its
potential and are incorporating it to create the ‘bank of the future’,” added
Mr. Al Waary.
Created with Digital DNATM
technology, Fatema is a first of her kind emotionally intelligent digital
human, who captures the emotions of people speaking with her and reacts with
empathy. She speaks English and will soon speak in Arabic and Hindi to reach
wider communities. Using a diverse set of technologies such as autonomous 3D
graphics, natural language processing, and automated sentiment analysis, Fatema
has answered tens of thousands of customer questions since her initial launch
in 2019. She is also a popular AI and financial literacy ambassador in the
region through her social media channels and event appearances.
capabilities that solve customer pain-points and provide a more seamless banking
experience is one of our key priorities," said Dr. Yousif Almas,
Group Chief Innovation Officer, Bank ABC. “We knew that a path-breaking bank
like ila needed an equally path-breaking approach to customer service and hence
we embarked on a journey to create a human-like digital banking assistant for
the post-app era of banking.”