17th IBA’s Annual Banking Technology Awards 2021 announced

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).

Find More Awards News Here