The Banker Technology Awards 2007
Each year, The Banker’s Technology Awards gather entries from around the world and this year was no exception with more than 300 entries covering all regions from Asia, America, Europe and the BRIC economies – a record. The variety of entries has demonstrated that banks worldwide are rising to the twin challenges of meeting customer demands and regulatory requirements by implementing new solutions and innovating across channels and markets. This year’s awards recognise these successes and identify the most likely technologies that banks should be watching carefully for the next year.
JUDGING PANEL:
CHAIRMAN OF THE JUDGES–Chris Skinnerchair, the Financial Services Club;
Parveen Bansalsenior researcher, Financial Insights;
PJ Di Giammarinochief executive, JWG-IT Ltd;
Clive HawkinsEuropean head of equities technology, UBS;
Tim Jonesnon-executive director, Capital One Bank (Europe);
Jamie Martinhead of payments, National Australia Group;
Pekka Jarvinenhead of research, Nordea;
Sherrie Radstrategy project manager, business operations, HSBC;
Eric Sepkesvice-president, global transaction services, Citibank;
Clive Winchupdivisional CIO, UKRB, Lloyds TSB
OVERALL WINNERSGREEN PROJECT OF THE YEAR Winner: Caja Madrid Caja Madrid established an internal project during 2006 to create a zero paper bank. The project, called 0 Paper, was created to cover the 13,000 employees and 2000 branch offices across Spain and resulted in a saving of more than 15% of paper per year, worth almost €21m. The bank wins the green award because this saving translates into an annualised reduction of paper usage that is equivalent to saving 12,000 trees per year.
INNOVATION OF THE YEAR
Winner: Vodafone-Citi Global Remittances Partnership
One of the biggest innovations was announced late in 2006, when Vodafone and Citi combined their efforts to offer remittances via mobile telephones. As a pure SMS-based capability that requires no software on the handset, the solution provides the ability for many of the world’s poorest people to exchange funds via their telephone rather than through a bank.The flow of funds from migrant workers back to their home country is an important source of income for many countries and the global market for remittances grew to $268bn in 2006. The Vodafone-Citi innovation will provide a new service for senders and receivers of money with a superior method for sending money. Seen as a step change in global remittance services, this was deemed a great project that fully warranted its recognition as new payment systems technology of the year.RETURN ON INVESTMENT OF THE YEAR
Winner: CIMB with Proview Star Monitoring Project
CIMB linked its business partners electronically through an integrated managed solution for ATMs and cash and cheque deposit machines across Malaysia, which enables better uptime. The results are stunning, including response times being reduced from one-and-a-half hours to 15 minutes when an ATM goes down, productivity up 19%, downtime reduced by 25% and operating costs reduced by 8%. ATM transaction volumes increased by 15% and the ratio of staff involved in manning the ATMs is now 1:92 compared with 1:74 the year before.
Capital Markets Innovation Awards
Capital Markets Project Awards
