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17th IBA’s Annual Banking Technology Awards 2021 announced

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Indian Banks’ Association (IBA) has announced the IBA’s 17th Annual Banking Technology Awards 2021. In total South Indian Bank has won 6 awards in the event. This year’s IBA Awards celebrating “Next Gen Banking” has recognized technologies and practices in the banking industry that have demonstrated a high degree of innovation over the past year.

The list of winners in different categories is given below:

Best Technology Bank of the Year

  • In Large Banks segment: Bank of Baroda
  • In Small Banks segment: The South Indian Bank
  • In Foreign Banks segment: Citibank N.A.
  • Regional Rural Banks: Baroda Rajasthan Kshetriya Gramin

Best Digital Financial Inclusion Initiatives

  • Large Banks: State Bank of India
  • Small Banks: The Jammu & Kashmir Bank
  • Regional Rural Banks: Baroda Rajasthan Kshetriya Gramin

Best Payments Initiatives

  • Public Banks: State Bank of India
  • Private Banks: ICICI Bank

Best Fintech Adoption

  • Large Banks: ICICI Bank
  • Medium Banks: Federal Bank
  • Small Banks: The South Indian Bank
  • Regional Rural Banks: Baroda Rajasthan Kshetriya Gramin

Best Use of AI/ ML T & Data

  • Large Banks: ICICI Bank
  • Small Banks: The South Indian Bank
  • Regional Rural Banks: Telangana Grameena Bank

Best IT Risk & Cyber Security Initiatives

  • Large Banks: Union Bank of India
  • Medium Banks: Yes Bank
  • Small Banks: The South Indian Bank
  • Foreign Banks: The Hongkong & Shanghai Banking Corporation Ltd
  • Regional Rural Banks: Baroda Rajasthan Kshetriya Gramin
  • Co-operative Banks: The Saraswat Coop bank
  • Small Finance/Payments Banks: Ujjivan Small Finance Bank

Cloud Adoption

  • Large Banks: Union Bank of India
  • Medium Banks: Yes Bank
  • Small Banks: Karur Vysya Bank
  • Foreign Banks: Citi bank N.A
  • Regional Rural Bank: Baroda Rajasthan Kshetriya Gramin

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Important takeaways for all competitive exams:

  • Indian Banks’ Association Established: 1946;
  • Indian Banks’ Association currently has 247 banking companies as members;
  • Indian Banks’ Association Chairman: Rajkiran Rai (MD & CEO of Union Bank of India).

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