The most sought-after awards in the Banking and Financial Services Industry

Congratulations to this year's winners! IDC FIIA will be back later this year!


2023 Winners

Presenting the 13 organizations from across the Asia/Pacific region who won this year's IDC Financial Insights Innovation Awards in five different categories. Winners received their award during the IDC Asian Financial Services Congress on March 8 at Marina Bay Sands, Singapore. Read our press release here: https://bit.ly/FIIA23pr

Asia's Leaders in Customer Engagement


Bajaj Allianz General Insurance Co. Ltd.

Digi-Sampark

OCBC Bank

OCBC’s Open Banking Initiative – OCBC Financial OneView

Bank of Ayudhya (Krungsri)

Together savings, Kept by Krungsri

Vietnam Techcombank

Mobile Financial Services for Retail Banking



Asia's Leaders in Infrastructure Modernization


China Merchants Bank

New Generation Private Cloud

Bharti AXA Life Insurance Co. Ltd

Digital Infrastructure Moderization

Asia's Leaders in Sustainable Finance


Standard Chartered Bank

ESG Navigator

First Commercial Bank

Navigate to Insight, Synergize with Online- First Financial Geographic Intelligent Syst.



Asia's Most Resilient Bank


United Overseas Bank (UOB) Ltd.

AML Fraud Analytics Project - Money Mule Early Detection Model

Asia's Most Resilient Bank


E.SUN BANK

Technology Empowerment – A cognitive and comprehensive RegTech system

Asia's Most Resilient Insurer


Taiwan Life Insurance

Taiwan Life Insurance AI Platform
for Claims



Most Innovative Bank in Asia


CTBC Bank

Emerging Commerce Collaboration
Model

Most Innovative Insurer in Asia


FWD Group

Microservices enabling Conversational Commerce within social media for Life Insurance

About IDC Financial Insights Innovation Awards


The IDC Financial Insights Innovation Awards (FIIA) aims to recognize outstanding achievements in
the financial sector for the use of technology to enable them to go further together.

Each year, submissions are judged for how well business outcomes are realized through the novel application
of IT innovation, based on their main technology focus and business goal.

Award Categories

 Most Innovative Bank / Insurer in Asia

This award recognizes the FSI that has realized outstanding outcomes through the novel application of IT innovation, from the perspectives of both technology focus and business goal.

The winner demonstrates that the innovative solution fits into the context of the organization’s competitive positioning and overall business goal. The initiative should set the precedents in the use of technology to respond to the market need and the customer expectations, as well as demonstrate the effectiveness of implementation, with measurable immediate and long-term impacts on the business advantage.

 Asia's Leaders in Infrastructure Modernization

This award recognizes the FSI that has transformed technology infrastructure to enable continuous innovations and deliver hyperpersonalized financial services in an agile and cost-effective manner. This transformation should highlight the accelerated speed to deliver new digital products and services, and the efficiency improvement from the modernized IT architecture, and demonstrate a future-proofing infrastructure that will allow the FSI to respond to the many changes upcoming in the future of financial services with agility, resiliency, and security.

The nominated projects of this category can fall into the following list of non-exclusive examples:

  • Cloud transformation: effective cloud adoption, migration and acceleration aligned with intended business benefits and the organization's future operating model
  • Core banking/insurance system abstraction and transformation
  • Data Infrastructure: Building a flexible data platform to provide a single source of truth
  • Open banking/Open APIs
  • Banking-as-a-service (BaaS)
  • Containers
  • DevOps
 Asia's Leaders in Customer Engagement

Vast improvements of high-impact business processes in the leading organizations are designed and operated by positioning customer at the core. This award recognizes the FSI that achieves effective improvements in customer journeys, provides context-based customer experience with empathy at scale, and transforms customer-facing business processes that bring faster turnaround time (TAT) to serve customers and faster creation of new digital products and services based on the changing customer expectations.

The nominated projects of this category can fall into the following list of non-exclusive examples:

  • Mobile banking / insurance experience improvement
  • Big data analytics and Al based customer interactions
  • eKYC, customer onboarding that provide faster TAT and better experience
  • Digital payments, wallets
  • Omni-channel customer experience
  • Intelligent automation/Robotics based customer solutions
  • Contact center and customer service improvement lOTs
 Asia's Most Resilient Bank / Insurer

Escalating IT spending associated with governance, risk and compliance (GRC) is expected in top Asia/Pacific financial institutions. This award recognizes the FSI that has established an effective framework of GRC management.

The framework should ensure the organization can withstand financial stresses from the macroeconomic environment, tackle the challenges of the rise of cyberattacks and data breaches in order to maintain customers' trust, address operational resilience to ensure compliance with the regulations, and respond to new types of risks of the time.

The nominated projects of this category can fall into the following list of non-exclusive examples:

  • Risk management platform
  • Data platform for risk management
  • Big data analytics and Al based solution for GRC
  • Asset liability management, stress testing
  • Cyber security management
  • Risk modeling management and model risk governance
  • Applications and solutions for risk management
  • Customer data rights, data protection, data privacy
  • Operational risk management
 Asia's Leaders in Sustainable Finance

This award recognizes the FSI that has set its roadmap for ESG to provide sustainable financial services and track its progress towards these goals effectively. Financial institutions should demonstrate their ESG-related capabilities to operate as responsible and green business, bring to market products and services with sustainability in mind, and play a moderating part in funding sustainability to support the national goals.

The nominated projects of this category can demonstrate great and steady progress in the areas including:

  • Sustainable banking / insurance operations: green datacenters, retro-fitting of buildings (loT), digitalization of business processes
  • Creating sustainable products: green loans, incorporating sustainability to credit risk, climate stress test
  • Support of national goals: issuance of green bonds, helping clients manage transition risk, creation of pathways for transition for key industries

Previous IDC FIIA Winners

ASIA'S BEST IN INFRASTRUCTURE MODERNIZATION

  • AXA China Region Insurance Company Limited
  • Axis Bank Ltd.
  • Mox Bank Ltd.
  • Westpac Group

ASIA'S BEST IN CUSTOMER INTERACTIONS

  • DBS Bank Ltd.
  • Cathay Financial Holdings
  • Joint Stock Commercial Bank for Foreign Trade of Vietnam
  • Kasikorn Line Co., Ltd.
  • Shinhan Bank Co., Ltd.
  • Taishin International Bank

ASIA'S BEST IN RISK MANAGEMENT

  • Postal Savings Bank of China
  • Postal Savings Bank of China
  • Rizal Commercial Banking Corporation (RCBC)

FIIA 2022 SPECIAL

  • CTBC Bank
  • FWD Group
  • Standard Chartered Bank

 

ASIA'S LEADER IN INFRASTRUCTURE MODERNIZATION (INSURER)
AIA Group Limited

BEST DIGITAL INSURER IN ASIA
Bajaj Allianz General Insurance Co. Ltd.

ASIA'S LEADER IN INFRASTRUCTURE MODERNIZATION (BANK)
China Merchants Bank

ASIA'S LEADER IN LOANS
CTBC Bank

ASIA'S MOST INNOVATIVE BANK
DBS Bank Ltd.

ASIA'S MOST INNOVATIVE INSURER
FWD Group

BEST BANK IN VIETNAM
Joint Stock Commercial Bank For Foreign Trade Of Vietnam – VIETCOMBANK

BEST BANK IN THAILAND
KASIKORNBANK Public Company Limited

ASIA'S LEADER IN CORE INNOVATION
NewUp Bank Of Liaoning Co., Ltd

ASIA'S LEADER IN OPEN BANKING
Ping An Bank Co., Ltd

ASIA'S LEADER IN SME BANKING
PT. Bank Pembangunan Daerah Jambi

ASIA'S LEADER IN DIGITAL TRUST
Shanghai Pudong Development Bank

SMARTEST BANK IN ASIA
Standard Chartered Bank

BEST BANK IN TAIWAN
Taishin International Bank

BEST FINTECH PARTNER BANK IN ASIA
YES BANK

 

Best Digital Bank in Asia
DBS Bank Ltd. – SM@RT (Customer Communication Management System with Quadient’s Inspire solution)

Best Bank in Thailand
Bank of Ayudhya PCL. (Krungsri) – Digital Workflow Initiative (Change Management Program)

Best Bank in Taiwan
CTBC Bank – AIONE System (AI Underwriting System)

Best Bank in Malaysia
Maybank – CARisMa Program (Big Data & Analytics Tools for Capital Adequacy & Risk Management)



Best Digital Bank in Malaysia
Alliance Bank Malaysia Berhad – Branch-in-Tablet solution (Account Onboarding Platform)

Best Insurer in India
Bajaj Allianz General Insurance Co. Ltd – Empower U (Digital Insurance Platform)

Best New Insurer in Asia
FWD Insurance – BoardingCare (Data-driven Flight Delay Insurance)

 

Best Bank in Asia
Bank of Ayudhya PCL. (Krungsri)

Best Insurer in Asia
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited

Asia’s Leader in Loans
CIMB Bank Berhad

Asia’s Most Innovative Bank
CTBC Bank

Asia’s Leading Partner Bank
IndusInd Bank Ltd.

Asia’s Most Open Bank
CTBC Bank

Asia’s Most Transformative Bank
Bank of Ayudhya PCL. (Krungsri)

Asia’s Most Transformative Insurer
MSIG Insurance (Singapore) Pte. Ltd.

Asia’s Most Inclusive Bank
Land Bank of the Philippines

Asia’s Most Customer-Centric Bank
DBS Bank Ltd.

Asia’s Most Optimized Bank
E.SUN Bank

Asia’s Most Intelligent Bank
Taishin International Bank

Asia’s Most Secure Bank
HDFC Bank Limited

 

BEST BANK IN ASIA/PACIFIC
CTBC Bank

ASIA/PACIFIC'S LEADER IN OPEN BANKING
Maybank

ASIA/PACIFIC'S LEADER IN INSURANCE COLLABORATION
MLC Life Insurance

ASIA/PACIFIC’S LEADER IN FINANCIAL INCLUSION
Ngern Tid Lor Company Limited

ASIA/PACIFIC'S LEADER IN CORE INNOVATION
Ping An Bank

ASIA/PACIFIC'S LEADER IN BUSINESS AUTOMATION EXCELLENCE IN INSURANCE RPA
Prudential Life Assurance (Thailand) Public Company Limited

ASIA/PACIFIC'S MOST EFFICIENT BANK EXCELLENCE
IN BUSINESS OPERATIONS

Citibank Singapore Ltd

ASIA/PACIFIC'S LEADER IN OMNICHANNEL ENGAGEMENT
Union Bank of the Philippines

ASIA/PACIFIC'S MOST TRANSFORMATIVE BANK
Siam Commercial Bank

ASIA/PACIFIC’S LEADER IN BANK-AS-A-SERVICE
YES BANK

ASIA/PACIFIC'S BEST MOBILE BANKING EXPERIENCE
Bank of Ayudhya PCL. (Krungsri)

ASIA/PACIFIC'S BEST DIGITAL WORKFORCE
Hong Leong Bank

ASIA/PACIFIC'S LEADER IN INNOVATION CAPABILITY MANAGEMENT
PT Bank Danamon Indonesia, Tbk

ASIA/PACIFIC'S LEADER IN BUSINESS AUTOMATION EXCELLENCE IN BANKING RPA
UOB

ASIA/PACIFIC'S MOST VIGILANT BANK EXCELLENCE IN GOVERNANCE, RISK & COMPLIANCE
OCBC Bank

ASIA/PACIFIC'S SMARTEST BANK EXCELLENCE IN BIG DATA & ANALYTICS
Cathay United Bank

 

BEST BANK IN ASIA/PACIFIC
DBS Bank

ASIA/PACIFIC’S LEADER IN FINANCIAL INCLUSION
Agricultural Bank of China

ASIA/PACIFIC'S LEADER IN OPEN BANKING
Citi

ASIA/PACIFIC'S LEADER IN BIG DATA STRATEGY
CTBC Bank

ASIA/PACIFIC'S LEADER IN DIGITAL FINANCIAL SERVICES
DBS Bank

ASIA/PACIFIC'S LEADER IN E-COMMERCE INTEGRATION
E.SUN Commercial Bank

ASIA/PACIFIC'S LEADER IN INSURANCE ENTERPRISE TRANSFORMATION
Great Eastern Life Assurance Co Ltd

ASIA/PACIFIC'S LEADER IN CASHLESS COLLABORATION
Hong Leong Bank

ASIA/PACIFIC’S LEADER IN CARD ANALYTICS
Krungsri Consumer

ASIA/PACIFIC'S LEADER IN RISK MANAGEMENT
MNC Financial Services

ASIA/PACIFIC'S LEADER IN SMART PAYMENTS EXPERIENCE
OCBC Bank

ASIA/PACIFIC'S LEADER IN BANK ENTERPRISE TRANSFORMATION
Standard Chartered Bank

ASIA/PACIFIC'S LEADER IN MOBILE BANKING
Taishin Bank

 

ASIA/PACIFIC LEADER IN BUSINESS AGILITY
E.SUN Bank

ASIA LEADER IN CUSTOMER EXPERIENCE
CTBC Bank

ASIA LEADER IN CUSTOMER INSIGHTS
MLC

ASIA/PACIFIC LEADER IN DIGITAL BANKING
Government Savings Bank

ASIA/PACIFIC LEADER IN DIGITAL PAYMENTS
Axis Bank Ltd

ASIA/PACIFIC LEADER IN DIGITAL TRANSFORMATION
DBS Bank

ASIA/PACIFIC LEADER IN NEXT GEN SECURITY
NN Life Insurance Company

ASIA LEADER IN RISK MANAGEMENT
CTBC Bank

ASIA/PACIFIC LEADER IN TECHNOLOGY EXCELLENCE
Hong Leong Bank Berhad

BEST BANK IN ASIA/PACIFIC
DBS Bank

 

ASIA’S LEADER IN CORPORATE BANKING
Bank Internasional Indonesia

ASIA’S LEADER IN SMART BANKING
Cathay United Bank

ASIA’S LEADER IN FINANCIAL INCLUSION
CFG Services Co., Ltd.

ASIA’S LEADER IN RISK MANAGEMENT
CTBC Bank

ASIA’S LEADER IN NEXT-GEN IT INFRASTRUCTURE
Hong Leong Bank

ASIA’S LEADER IN CUSTOMER ENGAGEMENT
MasterCard

ASIA’S LEADER IN BRANCH INNOVATION
National Australia Bank

ASIA’S LEADER IN DIGITAL BANKING
OCBC Bank

ASIA's LEADER IN MERCHANT PARTNERSHIPS
Security Bank Corporation

ASIA’S LEADER IN NEXT-GEN SECURITY
St. George Bank

BEST BANK IN ASIA/PACIFIC
CIMB Group

 

ASIA'S MOST CUSTOMER FRIENDLY BANK
Alliance Bank Malaysia Berhad

ASIA'S BEST PAYMENTS & REMITTANCE SERVICE
CIMB Bank

ASIA'S LEADER IN SMART BANKING
Cathay United Bank Co, Ltd

ASIA'S MOST DYNAMIC BANK
OCBC Bank

ASIA'S BEST MOBILE BANKING
DBS Bank (Hong Kong) Limited

ASIA'S BEST ONLINE BANKING
Alliance Bank Malaysia Berhad

ASIA'S BEST BRANCH BANKING
DBS Bank

ASIA'S MOST ACCESSIBLE BANK
POSB

ASIA'S MOST DEPENDABLE BANK
PT Bank Internasional Indonesia Tbk

BEST BANK IN ASIA/PACIFIC
OCBC

 

EXCELLENCE IN DISTRIBUTION CHANNEL MANAGEMENT
AIA Singapore

INNOVATION IN MOBILE PAYMENTS
ANZ

INNOVATION IN SOCIAL BANKING
CIMB

EXCELLENCE IN CORE BANKING IMPLEMENTATION
CIMB

INNOVATION IN CUSTOMER EXPERIENCE (RETAIL)
DBS Bank

INNOVATION IN CUSTOMER EXPERIENCE (CORPORATE)
Deutsche Bank

EXCELLENCE IN MOBILE BANKING
Krungsri

EXCELLENCE IN PRODUCT DELIVERY
OCBC

EXCELLENCE IN INTEGRATED CREDIT PORTFOLIO MANAGEMENT
Pacific Credit Card Center, Bank of Communications

EXCELLENCE IN IT DELIVERY
Siam Commercial Bank Public Company Limited

INNOVATION IN CUSTOMER ANALYTICS & BIG DATA
Ubank

EXCELLENCE IN DOMESTIC PAYMENTS
YES Bank Limited

 

EXCELLENCE IN SME BANKING
Alliance Bank

INNOVATION IN CUSTOMER ENGAGEMENT
DBS

INNOVATION IN SOCIAL MARKETING
Maybank

INNOVATION IN CUSTOMER EXPERIENCE
OCBC

EXCELLENCE IN ENTERPRISE OPERATIONAL TRANSFORMATION
Rizal Commercial Banking Corporation (RCBC)

EXCELLENCE IN RISK PERFORMANCE MANAGEMENT
Standard Chartered Bank

INNOVATION IN BUSINESS RULES MANAGEMENT
TMB Bank

PRODUCT INNOVATION
UBank

INNOVATION IN CASH DISBURSEMENTS (G2P)
UBL Omni

INNOVATION IN PAYMENTS (FINANCIAL SUPPLY CHAIN INTEGRATION)
YES Bank

SPECIAL MENTION: BUSINESS CONTINUITY WITH UNIFIED COMMUNICATIONS
Bank of Thailand

 

PRODUCT INNOVATION
Al Rajhi Bank

INNOVATION IN MOBILE BANKING
ANZ

EXCELLENCE IN SINGLE CUSTOMER VIEW
Bangkok Bank

EXCELLENCE IN BANKING 2.0
Bendigo and Adelaide Bank

PRODUCT INNOVATION (FINANCING PRODUCT)
Chinatrust Commercial Bank

SERVICE CHANNEL INNOVATION
Citigroup Asia/Pacific

EXCELLENCE IN CUSTOMER EXPERIENCE
HDFC Bank

EXCELLENCE IN CLIENT SERVICING
HSBC Asia/Pacific

EXCELLENCE IN CUSTOMER CENTRICITY
Standard Chartered Bank (Hong Kong)

INNOVATION IN ANALYTICS
Taishin International Bank

 

PRODUCT INNOVATION
ANZ

INNOVATION IN LOANS ORIGINATION
CIMB

INNOVATION IN CUSTOMER RISK MANAGEMENT
Fubon Financial

INNOVATION IN BRANCH INNOVATION
HDFC Bank

INNOVATION IN CORPORATE PAYMENTS
HSBC

CHANNELS INNOVATION
Philippine National Bank

INNOVATION JOURNEY
OCBC

INNOVATION IN PAYMENTS
Standard Chartered Bank

INNOVATION IN CUSTOMER ENGAGEMENT
TMB Bank

INNOVATION IN BUSINESS INTELLIGENCE
YES Bank

 

FIIA 2023 Awards Presentation


Contact Us


If you have any questions/clarifications regarding the IDC Financial Insights Innovation Awards,
send us an email at: apfiia@idc.com