2018 BAI Global Innovation Award Finalists

Innovation in Societal and Community Impact

The 2018 BAI Global Innovation Award winners will be announced during a live webinar on Aug. 28, 2018. Registration is free. Sign up today!

BAI Global Innovation Awards 2018 finalist Kasikorn BankKASIKORNBANK PCL.

K PLUS Beacon – All-Inclusive Mobile Banking Application for the Visually Impaired

K PLUS Beacon is a new form of financial inclusion that allows customers with visual impairment–the blind, the low vision and the elderly–access to financial products and services via the innovative, all-inclusive mobile banking application. It’s specifically designed from the ground up to address the challenges and needs of the visually impaired allowing them to use it without sight. No need to look at the screen! With the combinations of simple fingers movements and gestures, haptic and voice feedbacks together with simplified and intuitive menu system/application flows, K PLUS Beacon enable the visually impaired to do money transfers, balance inquiries, topping-up and bill payments with ease, confidence and privacy.

K PLUS Beacon features the following essential mobile banking functions:

–     “FAVOURITES”, user-configurable shortcuts that allow for frequent transactions to be quickly and easily conducted without the users having to go through all the steps every time.
–     “TRANSFER”, intra and inter-bank electronic money transfer via account number, phone number or Promptpay (Thailand’s standard for inter-bank electronic fund transfer via QR code).
–     “BALANCE”, real-time account balance enquiry.
–     “TOP UP”, top up services allowing for convenient ways to fill up a variety of pre-paid services such as mobile phone.
–     “PAY BILLS”, electronic bill payment services for utility bills such as water and electricity. The payment can be easily done via shortcuts of scanning the bar code printed on the statements.
–     “HISTORY”, easy-to-get-to records of previous transactions and activities from all services mentioned earlier.

BAI Global Innovation Awards 2018 finalist Nova CreditNova Credit

Access to International Credit Data, Helping Immigrants That Lack Domestic Credit History

Lack of a domestic credit history keeps millions of immigrants from realizing their dreams. The Nova Credit team hails from all over the world and experienced firsthand the challenge of not having a domestic credit history, which can prevent access to credit, housing and other services. Nova Credit provides a solution that enables immigrants to share their credit history from their home country with financial service providers and others, unlocking new consumers for lenders, property managers and other businesses as well as new futures for immigrants. The team is based in San Francisco and backed by General Catalyst, Index Ventures, First Round Capital, NYCA, and Core Innovation Capital. To learn more visit

BAI Global Innovation Awards 2018 finalist RukulaRUKULA (PVT) LIMITED
Sri Lanka

Credit for Small Consumer Durables for the Financially Excluded in Sri Lanka

Using Sri Lanka’s first non-financial attribute-based algorithm, Rukula seeks to help the most financially vulnerable members of Sri Lanka obtain small consumer goods. Rukula works with both SME and large-scale retailers to reach out to customers using technology-based processes that achieve a product sale in under 15 minutes – notable for the fact that both merchants and customers are not technologically adept and have minimal digital footprints. Although customers are encouraged to keep up with their payments, Rukula acknowledges that these communities would have significant and multiple financial hardships during the course of their credit period. Consequently, there are no interest costs or penalties for late payments. Rukula has had customers paying after three years for a six-month loan – they understand.

BAI Global Innovation Awards 2018 finalist USAAUSAA

Aerial Imagery Tool

Members visiting Eagle One in Corpus Christi asked if there was a way they could view images to see if their homes were damaged. This functionality didn’t exist, so a member of the P&C Innovation team reached out to USAA Labs to see if there was a way for USAA to host aerial imagery. This would give members the ability to remotely search and view damage to their homes, regardless of if they were able to return to their homes to assess damage. After assessing the needs, it was determined technology to host the images did not exist, but the team was determined to find a way to make this possible and agreed that they would deliver a minimal viable product (MVP) of this capability within 24 hours.