2019 BAI Global Innovation Award Finalists

Best Application of Advanced Technology in a Product or Service

BAI Global Innovation Awards 2019 Finalist Emirates NBDEmirates NBD
United Arab Emirates

Emirates NBD Blockchain – Center of Excellence for Payments

In a multiparty, blockchain-based consortium, Emirates NBD alongside Smart Dubai, Network International, and Avanza Innovations implemented a blockchain solution that has reduced payment reconciliation and settlement time from 45 days to near real time. The platform reconciles payments between two entities, the Dubai Electric & Water Authority (DEWA) and the Knowledge and Human Development Authority (KHDA), with the Department of Finance. The solution is based on Hyperledger, hosted as “blockchain as a service” by Smart Dubai. Since the launch of the platform, DEWA and KHDA have processed more than five million transactions using the blockchain solution, while providing clear visibility and faster claims resolution. Going forward, several other government entities connected to the DubaiPay portal are expected to join this platform.

BAI Global Innovation Awards 2019 finalist Turkiye Is BankasiİŞBANK

İşbank’s AI-based Personal Assistant “Maxi”

Maxi is an AI-powered personal assistant that provides 24-7, one-on-one financial assistance using best-in-class digital technology. Maxi lets customers communicate in their preferred language, perform advanced PFM queries with enriched graphs, and complete one-step money transfers. Users can ask questions related to their spending history to quickly find details about the date, merchant, and amount associated with a transaction, as well as ask for spending advice—all unique capabilities in the Turkish banking sector.

BAI Global Innovation Awards 2019 finalist OneConnectShenzhen OneConnect Smart Technology Co., Ltd.

FiMAX Trade Finance Blockchain Network


FiMAX Trade Finance Blockchain Network is a blockchain solution that aims to organically connect different parties in trade finance. On this reliable, secure and efficient network, different parties in trade finance can directly and exchange data while preserving full data privacy, all of which is enabled by blockchain architecture and cryptography solutions. By onboarding data from different participants, the network forms a healthy, closed-loop data flow within the ecosystem. Enterprises can more easily prove the validity of their trades and better apply for financing. Banks can conduct more accurate credit assessments, lowering financial risk. The network has been successfully implemented and proved in the Hong Kong eTradeConnect Trade Finance Network, with 12 international banks and Hong Kong Interbank Clearing Limited already on board. It was also implemented in several other soon-to-be-announced projects in mainland China.

BAI Global Innovation Awards 2019 finalist Yapi KrediYapı Kredi

Financial Document Corrective Analysis (FOCA)


Financial Document Corrective Analysis (FOCA) is an artificial intelligence value creation project that aspires to support the operational and decision-making processes of corporate/commercial/SME sales and financial analysis departments. It digitizes free format, unstructured trial balance (t-balance) documents in order to empower sales targets and automate financial analysis through natural language processing, machine learning and pattern recognition. The FOCA system consists of two main projects: The first is smart portfolio management. The second is financial analysis automation that focuses on the customer relationship management and credit risk evaluation processes of corporate/commercial/SME customers. By removing the most time-consuming part of credit risk analysis, experts are freed up to concentrate on high value-added financial tasks and detailed sector analysis.

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