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Triple A Digital Awards 2016
The Asset 23 Feb 2017
Asia Pacific

e-Banks

 
Citi
From India to Korea, Citi in Asia-Pacific has undergone a digital transformation over the past 12 months. The bank has pushed forward with a number of digital services aimed at making customers’ lives easier. Citi also has taken a mobile-first approach to retail banking enhancing its mobile capabilities across its regional footprint. The bank has pushed forward in its engagement with customers over social media platforms including Line and WeChat. Moreover, the bank has continued to support the growing fintech community in Asia through its Citi Mobile Challenge.
 
China
 
ABC
The state-owned bank has made a commitment to consistently update its core banking system and keep in step with the Chinese market where digital payments are on the rise. The bank was the first in China to apply a soft token in its online payment service. Its new payment product Kuaiyifu attracted 1.7 million users in the first four months of operation.
 
Hong Kong
 
Citi
Being an active player in the digital banking landscape in Hong Kong, Citi notches up the award due to its multi-pronged approach in making digital adoption easier for customers. Citi revamped its stock mobile trading platform app based on evaluated customer pain points. Within Hong Kong, the bank has reached out to customers through various digital touch points including Facebook.
 
India
 
Citi
The bank stood out in the competitive Indian landscape due to being a leading provider of digital solutions for online sourced products including credit cards and mutual funds. Citi India also has a AI powered virtual assistant, a first of its kind in the Indian banking industry that can assist customers 24/7.
 
Indonesia
 
Citi
Within Indonesia, Citi has established itself as a strong digitally focused bank, providing not only unique services but also engaging with its customer base through social media channels. The bank has also forged key partnerships with Indonesian names such as Lazada Indonesia and MatahariMall.com in an effort to increase the digital acquisition of customers.
 
Malaysia
 
HSBC
Offering customers a complete suite of digital finance options ranging from investments to loans, HSBC is a clearly a strong digital player in the Malaysian space. HSBC Malaysian customers via the bank’s online channel can carry out actions such as applying for a credit card. Moreover, the bank made an effort to provide educational material online for customers that may not be digitally savvy.    
 
Myanmar
 
Yoma Bank
Operating in the exciting frontier market of Myanmar, Yoma Bank wins this award as a result of its commitment to improve its digital processes. While other banks expand through branch expansion the bank has made a commitment to use technology to access a large customer base. The bank is one of the key organizations behind Wave Money, a financial services company allowing for mobile money transfers.
 
Philippines
 
Security Bank
For Philippine-based Security Bank, a better user experience means better banking. Looking to be a partner for personal finance the bank has implemented various services for its retail customers. Some of these services include applying for an auto loan and opening an account online. For its mobile app, the bank has employed the same robust security features found on its browser interface. 
 
Singapore
 
DBS Bank
DBS again has proven itself to be the outright leader in digital banking within the city-state. The bank has seen a rapid rise in active digital banking users. Looking to make banking seamless for its customers it has, among other things, launched a soft token and personal financial manager app during the review period. DBS also plays a role in supporting fintech companies in Singapore.  
 
Taiwan
 
E.SUN Bank
As the e-banking leader in Taiwan, E.SUN Bank has strengthened its digital capability in 2016 by consistently working with third-party payment platforms such as Alipay and Tenpay. Its payment product Mpay gives local merchants additional business opportunities. Moreover, its internal data analytics project, CEO dashboard enables managers to better monitor the financial performance of the bank.
 
Thailand
 
Krungthai Bank
Krungthai Bank stands out among other banks in the country due to its wide array of digital solutions. One significant product for the bank is its KTB netbank platform, which allows users to not only make payments but also purchase mutual funds. The bank in addition looks to play a greater role in the Thai digital eco-system pushing forward with government to consumer and business to consumer digital solutions.   
 
Vietnam
 
VIB
A strong digital focused player in the Vietnamese market, VIB has constantly been striving to offer its customers a unique digital offering. Whether it be its online account opening capabilities or its mobile app, VIB’s goal is to simplify the banking process for customers. Internally VIB has reorganized its digital team to be a business unit that reports directly to the CEO. 
 
•••••
 

Most Innovative

Regional
 
Best Retail Mobile Banking Experience
 
Citi
For Citi across the region 2016 was a year that saw the bank make significant updates across all of its mobile platforms. During the review period Citi put in place several services that looked to bridge the gap between online and mobile capabilities. One such service was the ability to change your card’s pin over a mobile device.
 
Best Retail Emerging Digital Technologies “Voice Biometrics”
 
Citi
With an eye on increasing efficiency across its Asia-Pacific footprint Citi last year launched it’s voice biometrics solution. The innovative technology is the first in the financial services field and allows Citi’s contact centres to automatically verify the identity of a customer within 15 seconds. It represents a 66% reduction of time used to verify a customer.  
 
China 
 
Best Retail Social Media Banking Experience
 
Citi
Aiming to improve the banking social media experience for its China-based customers, Citi over the review period looked to integrate its system with Alipay and WeChat. The end result was Citi playing a bigger part in their customer’s journey. Around 34% of Citi China’s credit card payments are now being received from Alipay.
 
Hong Kong
 
Best Retail Mobile Banking Experience
 
Citi
Within a single app Citi offers customers in Hong Kong a variety of useful banking services. During the review period the bank upgraded its mobile brokerage programme enabling customers to execute trades in Hong Kong, Shanghai and the US. There is an automated portfolio P&L, which can aid customers in their trading decisions. 
 
Best Retail Social Media Banking Experience
 
Citi
Leveraging on a number of social media channels, Citi is a market leader when it comes to engaging with its Hong Kong customers. The bank in particular has been an active user of Facebook’s live function in providing investing insight to market events such as Brexit and the Hong Kong-Shenzhen stock connect.
 
Best Gamification Project “Citi Carnival”
 
Citi
Combining both the online and offline world, Citi encouraged its customers via an online engagement game to visit the bank’s carnival themed branches. The project saw a high participantion rate from customers, which led to significant growth in new to bank customers. 
 
India
 
Best Online Wealth Management Experience 
 
IIFL Private Wealth Management
For digitally savvy investors in India, IIFL Private Wealth Management offers a number of digital channels for investors to manage their finances. Some key improvements by the firm over the review period include allowing clients to review research reports from all devices and push notifications on the status of their trades.
 
Malaysia
 
Best Retail Mobile Banking Experience
 
Citi
Implementing a mobile-first strategy in Malaysia, Citi offers a wide range of useful services for customers on the move. Having revamped it’s mobile look and feel, Citi allows its customers to activate their card and change their pin number over a mobile device. Since Citi’s revamp mobile banking usage and adoption has rapidly grown within the country. 
 
Best Retail Emerging Digital Technologies “e-Donation”
 
Bank Islam / Visa
Bank Islam in collaboration with Visa allows donors to make contributions using any debit or credit card via Visa’s paywave feature. This service allows for a convenient donation process that eliminates the need to carry cash and in effect improves the cash management process. Terminals are currently placed in several mosques in Malaysia.  
 
Philippines
 
Best Retail Mobile Banking Experience
 
Citi
Riding on the fact that the Philippines is the fastest growing smartphone market in Southeast Asia, during the review period the bank sought to encourage users to use its mobile app. Citi Philippines worked with Voyager Innovations to allow Citi’s customers to transact on the app without any data charges.  
 
Bank Retail Social Media Banking Experience
 
BDO
Starting its Facebook page just several years ago BDO is now the biggest Filipino bank on the social media platform. The bank has one of the most responsive pages in the industry, often answering and resolving problems for Filipino overseas workers. Aside from being an online customer service centre, the bank uses the social media platform as a sounding board for improving their internal processes.
 
Singapore
 
Best Retail Online Banking Experience
 
DBS
With a goal to offer a one-stop online service, DBS set out on a mission to revamp its internet banking website to offer services like a physical branch. Aside from carrying out basic banking functions, customers can now open new accounts entirely online. Moreover, the bank recently put it’s DBS remit service online giving customers a convenient cross-border payment solution.
 
Best Retail Mobile Banking Experience
 
DBS
Whether it is P2P digital payments on PayLah or e-commerce integration via FasTrack, DBS offers its Singaporean customers the most holistic retail mobile banking solution. The bank’s new mobile app Digibank features a number of updates to the bank’s original app including peek balance, a function where customers can view account information without having to login.     
 
Best Online Wealth Experience
 
DBS
For Singaporeans looking to mange their wealth, DBS offers the most extensive solution of digital products when it comes to portfolio management and investment opportunities. The bank’s iWealth portfolio management system acts as a foundation to DBS’ various digital wealth products such as an online equity platform trading and online research access.  
 
Best Retail Digital Payments Experience
 
Standard Chartered Bank
Standard Chartered Bank stands out against other banks when it comes to offering a complete payment service. During the review period the bank has been busy integrating with various popular wallet providers such as Apple and Samsung and scheme providers including Visa and Mastercard.
 
Best Retail Emerging Digital Technologies “DBS FasTrack”
 
Applied Mesh / DBS
Looking to embed themselves within their customer’s journey DBS partnered with Applied Mesh in creating a commerce mobile solution for the food and beverage industry. Under the service, DBS retail customers can easily interact and transact with food merchants via their mobile devices. DBS FasTrack already has partnerships with the likes of Old Tea Hut and Five Star Chicken Rice.
 
Best Gamification Project “Shake the Ang Bao”
 
Standard Chartered Bank
With an aim to bring delight to their credit card customers when spending, Standard Chartered introduced its interactive “Shake the Ang Bao” project. With every spend of S$138 customers will be prompted to shake a virtual Ang Bao on their phone for a chance to instantly win various prizes including special cash backs.  
 
Taiwan
 
Best Retail Online Banking Experience
 
Taipei Fubon Bank
Taipei Fubon Bank has one of the best online banking functionalities in Taiwan. A key service of the bank is its online student loan service. It offers a complete range of online loan functions. Customers are able to complete enquiries or transactions without time or location constraints. The project greatly enhances the online student loan experience.
 
Best Retail Mobile Banking Experience
 
Taishin Bank
Taishin Bank’s mobile digital bank Richart is a key service that targets millennial customers. It offers a complete digital experience such as cardless withdrawal and touch ID login. It has an easy and user-friendly interface. These features were designed and built to improve the overall mobile banking experience.
 
Best Retail ATM Experience
 
CTCB Bank
The community ATM introduced by CTBC aims to strike a balance between online and offline banking channels. CTBC established thousands of community ATM centres through strategic partners in Taiwan. CTBC is enhancing functionalities such as cardless withdraw solution, inter-bank deposit and coin deposit machines.
 
Best Retail Social Media Banking Experience
 
E.SUN Bank
As the leading digital bank in Taiwan, E.SUN Bank not only provides its customers with service through its physical channel but also with a non-stop service through a virtual channel. The bank has a consistent record of interaction with fans through their social media channels. The bank is attracting an increasing number of customers as a result of its social media activities.
 
Best Retail Digital Payments Experience
 
E.SUN Bank
E.SUN Bank recently upgraded its payment offering via its mPay product. This product enables Taiwanese SMEs and retail stores to adopt electronic payment service. Through mPay, Chinese tourists are able to use Alipay to make payments to Taiwanese vendors by simply scanning a QR code.  The service provides an easy and convenient payment tool for both customers and small businesses.
 
Best Digital Wallet Platform “E.Sun Wallet”
 
E.SUN Bank
E.SUN Bank launched its in-house developed e-wallet service, the E.SUN Wallet app, in December 2015. The integrated e-wallet enables customers to handle their payments and better manage their cards within a mobile app. Value-added services, such as membership cards, points, and O2O bonus redemptions are also provided on the app.
 
Thailand
 
Best Online Wealth Experience
 
Citi
For tech savvy affluent individuals Citi Thailand offers best in class service when it comes portfolio management and investing. Citi’s open architecture platform is key for the bank’s personal relationship manager to recommend the best funds for their clients. Citi’s Fund Explorer is a key tool that clients can use to easily compare and view a variety of mutual funds.  
 
Vietnam
 
Best Retail Mobile Banking Experience
 
VIB
Adhering to the increased smart phone usage within Vietnam, VIB has continued to update and revamp its mobile offering to customers. During the review period the bank allowed customers to open bank accounts and schedule future payments via a mobile device. The bank will continue to reach out to customers to see how they can improve their mobile capabilities.
 
Best Retail Social Media Banking Experience 
 
Citi
Operating in the rapidly developing market of Vietnam, Citi offers a holistic social media banking experience to its Vietnamese customers. Customers are not only alerted of special promotions through the bank’s Facebook page but are also given educational tools on how to better manage their finances.   
 
••••••
 

Digital Infrastructure

Digital Infrastructure Awards
 
China
 
Most Innovative Core Banking Project “BoEing”
 
ABC
Upgrading a core banking infrastructural system of a large bank with 1.1 billion accounts with an over 10-year-old legacy architecture is a challenging task for any bank. Agricultural Bank of China completed its journey of transformation on October 2015. It is the first bank to switch over 1 billion accounts at one time to a new system.
 
Most Innovative Mobile Banking Project
 
ABC
Agricultural Bank of China is the first bank in China to apply soft token technology as part of its mobile payment platform. Its core payment product Kuaiyifu successfully attracted 1.7 million users within the first four months of operation. It took less than a year to set up the new mobile banking interface. Currently, over 90% of its transactions are done through online channels.
 
Most Innovative Corporate Payment Project “Real-time Payment Service”
 
China Guangfa Bank
The small amount real-time payment (小额实时支付) service by China Guangfa Bank offers a real-time inter-bank payment service for its corporate clients without inputting a recipients’ bank account number. The service allows the clients to make a numbers of payments simultaneously, easily and quickly. Currently, 140,000 corporate clients are using Guangfa Bank’s cash management service.
 
Hong Kong
 
Most Innovative Mobile Banking Project “Meet Online”
 
DBS
A unique SME-focused digital service that allowed DBS’ clients to open a business account without having to visit a physical branch. The bank uses a video conferencing tool to carry out an online know your customer verification. When the service was introduced in May 2016 online SME applications increased by 167%.
 
Most Innovative Social Media Project “Citi Mobile Stock Trading”
 
Citi
Looking to promote the stock trading capabilities of its revamped mobile app, Citi executed a holistic digital engagement campaign on various social media channels such as Facebook to get the bank’s customers to try their new product. A mixture of online videos and opinion articles led to significant number of downloads for the bank.
 
India
 
Most Innovative Mobile Banking Project “Digibank India”
 
DBS
Launched in April 2016, DBS’ Digibank project is a unique project in India that attempts to shift the way banks interact with their customers. According to the bank, customers can open a Digibank e-wallet account in 90 seconds. The project also utilizes an AI powered virtual assistant to help with over 10,000 banking related questions. 
 
Malaysia
 
Most Innovative ATM Project “Cashless ATM”
 
Hong Leong Islamic Bank
In an attempt to promote cashless payments within Malaysia, Hong Leong Islamic Bank set up its Cashless ATM service that allows customers to pay merchants directly through a single machine. The ATM looks to reduce cash and cheque usage and circulation in the domestic marketplace.
 
Myanmar
 
Most Innovative Core Banking Project “FusionBanking Essence”
 
Yoma Bank / Misys
A key banking project in a rapidly developing frontier market saw Yoma Bank update its 20-year old banking system. The new system aims to increase the bank’s customer base via digital channels. Moreover, the streamlining and automation of the bank’s internal operations allows Yoma Bank to quickly launch new products and services. 
 
Philippines
 
Most Innovative Cloud Based Project “Lendr”
 
Lendr
Lendr is a key project in the Philippines that leverages on cloud technology from Amazon Web Services to aggregate loan deals from a number of Filipino banks to give borrowers a clearer sense of their loan options.  It was the first cloud-based system approved by the BSP (Bangko Sentral ng Pilipinas).
 
Most Innovative Data Analytics Project “Pera Agad”
 
FINTQ / Cash Credit
Aiming to increase financial inclusion in the Philippines, FINTQ and Cash Credit partnered together to provide micro financial services to consumers. The credit score of a loan is uniquely based on the telecommunications data of a borrower, such as the amount of the time the customer has had the phone number and the amount of time they spend on calls. 
 
Singapore
 
Most Innovative Digital Branch Project “Virtual Teller Machine”
 
DBS
A first of its kind service within Singapore, DBS’ Virtual Teller Machine (VTM) is a major upgrade from the standard ATM machine. The service allows a customer to have a video chat with a teller. In addition to helping customers with basic banking requests, the VTM can also instantly replace a lost token.
 
Most Innovative Data Analytics Project “Strategic Cost Management”
 
DBS
A key project for DBS Bank that allows the group to dramatically reduce the cost of servicing customers through its call centre. By leveraging on big data and understanding the pain points of their customers, DBS was able to lower call volumes and amount of time in handling call queries.  
 
Taiwan
 
Most Innovative ATM Project “Mobile Device Withdrawal”
 
CTCB Bank
A unique function for the bank that allows users to send withdrawal requests through CTBC’s mobile app. Within a limited period of time users can withdraw money from a CTBC ATM without a card. The project took the bank around seven months to implement and involved close coordination with financial regulators. 
 
Most Innovative Social Media Project “CTBC Line Business Connect”
 
CTCB Bank
By working with Line, the most popular social media platform in Taiwan, CTBC has attracted more than 2 million social media fans. Some features of the Line Business Connect include the ability to check your account status and billing inquiries. Users are also able receive notifications on important banking transactions such as bill payments.
 
Most Innovative Data Analytics Project “CEO Dashboard”
 
E.SUN Bank
E.SUN Bank’s CEO Dashboard provides the management team with a clear and comprehensive picture of the business across different divisions including consumer finance, human resources, information technology and risk management. With all information provided, decision makers are able to better monitor the performance of the bank and enhance its performance accordingly and efficiently. 
 
Most Innovative Cloud “Cloud Computing Development Program”
 
E.Sun Bank / Microsoft / QCT
Working with Microsoft and Quanta Cloud Technology (QCT), E.SUN introduced its cloud computing development program. Completed within five months, the program saved 47% of the bank’s purchasing costs and 83% of manpower costs by addressing internal process concerns.
 
Most Innovative Risk Management Project “Risk Management Innovation on Third Party Business”
 
CTBC Bank / FICO / SAS
Working with FICO and SAS, CTBC developed its comprehensive risk management project that allows a third party business to seamlessly interact with the bank. The project was aimed at delivering a more effective and efficient end-to-end risk management process to handle the increase of e-commerce payments.
 
Thailand
 
Most Innovative Corporate Payment Project “Online Traffic Ticket Payment”
 
Krungthai Bank
With the aim of increasing the efficiency of the collections process, Krungthai Bank’s digital team put in place a service that provided customers various digital channels to pay ticket fines online. The project is in line with Thailand’s government policy to promote e-payments within the domestic economy.
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