02 Mar 2018
OCBC Bank, UOB, and Citibank Singapore Ltd among the top winners from Singapore
SINGAPORE, March 2nd, 2018 - IDC Financial Insights announced today the 16 winners of the annual Financial Insights Innovation Awards (FIIA) at the Asian Financial Services Congress 2018. This year’s recipients were chosen for setting technological and business precedents to drive new, successful practices within their peer ecosystems.
Every year, IDC Financial Insights invites financial institutions across Asia/Pacific to nominate their flagship initiatives which were undertaken within the past 18 months. With over 130 highly-qualified submissions put forward in over this period, the FIIA program continues to be one of the most sought-after awards in the industry.
These are the organizations which IDC Financial Insights judged to have distinguished themselves as having not only effective solutions that meet the challenges of today’s dynamic market conditions, but also in establishing altogether-new standards in the use of IT.
Fig. 1 - The winners of IDC Financial Insights Innovation Awards 2018 awarded with the trophies at the 14th Annual Asian Financial Services Congress at Marina Bay Sands Singapore.
The merits of all submissions are measured by the FIIA Assessment Panel, composed of Financial Insights’ lead analysts, independent judges from a panel of veteran industry practitioners and thought-leaders. The evaluation process subjects each initiative to a rigorous set of scoring metrics that takes into account its responsiveness to market needs, effectiveness of deployment, and market response and long-term business viability.
“It has been a stellar year for the FIIA program as we concluded with over 30% more submissions than our previous record. The variety and scale of projects we received have proven that speed is the new, universal measure for innovation – in a matter of months, we witnessed the rise of new knowledge ecosystems, value chains, and lines-of-business made possible through agile development practices spanning across enterprises,” says Ho Sui-Jon, the Program Director of the FIIA and a member of IDC Financial Insights judging panel.
Ho continues, “With such precedents in validating and monetizing technologies rapidly, banks and insurers are quickly reclaiming the advantage in today’s disruption by positioning themselves as gatekeepers of innovation in an increasingly open market.”
“Our winners this year were chosen not only because they have understood and acted on the disruptions in today’s economy, but have taken viable first-steps in creating a future-proof business model to ensure their relevance in tomorrow’s world," ends Mr. Ho.
The Asian Financial Services Congress 2018 is organized by IDC Financial Insights Asia/Pacific.
About IDC Financial Insights
IDC Financial Insights assists financial service businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the banking, insurance, and securities and investments industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world's leading technology, media, research, and events company. For more information, please visit www.idc-fi.com, email email@example.com, or call 508-620-5533. Visit the IDC Financial Insights Community at http://idc-insights-community.com/financial
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC.
UnionBank of the Philippines, The Siam Commercial Bank Public Company Limited, Bank of Ayudhya PCL, Hong Leong Bank Berhad, MLC LIMITED, Oversea-Chinese Banking Corporation Ltd., YES BANK Limited, United Overseas Bank Limited, PT Bank Danamon Indonesia Tbk, Prudential Life Assurance (Thailand) Public Company Limited, PING AN BANK CO., LTD., Citibank, N.A., CTBC Bank Co., Ltd., Maybank Philippines, Inc., Cathay Financial Holding Co., Ltd.