Congratulations to the finalists of the 2016 BAI Global Banking Innovation Awards for Innovation in Internal Process Improvement.
These finalists have all made a significant investment in internal process improvement to benefit the organization and ultimately, the customer. Examples of process improvement innovations include internal innovation contests, technology investments that create more customer friendly products, services and delivery, cultural transformations, and significant enhancements to customer experience. Finalists listed in alphabetical order include:
Alior Bank S.A.
Smart Collect – Intelligent Automated and Scenario-based Process of Debt Collection
The subject of making the collection process more effective while avoiding any adverse impacts to the relationship with the customer is an ongoing concern. With Smart Collect, Alior Bank introduced a sophisticated strategy of debt collection that’s supported by data analysis tools, automated generation and management of client-based campaigns; and employing multiple contact channels tailored to each customer, including AI agents used for contact-center campaigns. The project proved that using innovative technologies in collections, a critical part of the credit lifecycle, can provide a great, tailored customer experience that’s delivered in accordance with customers’ preferences. The introduced solutions covered the entire base of credit products for individual clients with overdue payments.
Virtual Assistant in Foreign Trade WATSON
CaixaBank recently implemented the Watson Engagement Advisor (WEA) application, a system that builds a more intelligent and efficient financial terminal, with better and faster access to information for employees. Watson allows the employees (more than 28,000 in this case) to ask questions to the financial terminal to gain access immediately and easily to a great amount of documentation (international mailing regulations, local regulations of other countries, internal regulations, etc.).
When a client asks a question, Watson instantly provides the answer to the advisor who, using this information, will be able to provide specialized recommendations to their clients.
Since its production started, Watson has already helped solve more than 2,400 queries about foreign trade. WATSON has been operational since the beginning of September 2015 and is available to every CaixaBank employee.
Citi Retail Services
Citi Retail Services’ Entity Linkage Framework (ELF) – A Technological Innovation
Existing Data; Transformational Insights
Threats from credit abusers and fraudsters affect all credit card programs. Conventional risk analytics tools have significant computational and analytical limitations that constrain the ability to comprehensively identify risk from the entire network of suspected fraudsters, and make investigations beyond the direct relationships of suspect accounts impossible.
Citi Retail Services’ (CRS) solution, Entity Linkage Framework (ELF), has leveraged Citi’s data analytics capabilities, and the latest research on parallelized algorithms for entity resolution and graph analytics, to implement a significantly enhanced set of customer identification approaches to zoom into customer entities and their surrounding networks; and generate valuable insights that can mitigate credit abuse and fraud risk, identify profitable portfolio segments, improve operating efficiency, and support regulatory compliance.
Türk Ekonomi Bankasi (TEB A.Ş)
HIPPO-Gamified Sales Platform
HIPPO is an in-house project developed through implementing gamification elements into a newly-designed platform.
HIPPO aims to bring a totally new approach to sales through gamification, resulting in increased sales and better efficiency in sales tracking. HIPPO is a disruptive, radical innovation that alters the way the business line functions. TEB is the very first bank to implement a gamified sales platform in Turkey. Since HIPPO’s launch, sales tracking became easier and more practical. HIPPO automatizes tracking by replacing manual excel sheets with digital Dashboard screens. HIPPO saves time and FTE used by the business line to track sales performance.