Congratulations to the finalists of the 2017 BAI Global Innovation Awards for Disruptive Business Banking Solution.
These finalists have demonstrated the ability to meet the needs of any business, big to small, in a groundbreaking way. Finalists listed in alphabetical order include:
BankSight Single View Best Practice powers the launch of innovative small business lender Judo Capital
Judo Capital needed a technology partner to help deliver on its mission to transform small business lending in Australia with a relationship-centric proposition that combines tradition with innovation.
BankSight and Judo collaborated deeply, and in less than six months launched a comprehensive financial and non-financial single relationship view of customers and prospects; an end-to-end digital process that enables Judo lenders to collaboratively manage leads with small businesses and brokers; and a modern, consistent SME lending application process that results in highly informed and responsive credit decisions.
The result is an innovative experience for Judo customers and brokers that’s efficient, modern and a significant departure from what is available from larger players in the Australian market.
Virtual bank accounts for companies that export into Europe
The world is getting smaller, though this isn’t always apparent when looking at the modern banking system. SMEs that export lose a lot of money and time. B2B Pay provides SMEs that export to Europe with a virtual bank account using a unique IBAN. They can collect payments from 35 European countries and save up to 80% in foreign exchange rates and international transfers. For additional fees they can also unlock the ability to make SEPA transfers or global payments, purchase credit insurance or invoicing. B2B Pay’s goal is to make global banking local by connecting the various banking systems’ infrastructure. On top of this, they are building an IBAN directly on the blockchain to completely replace IBANs and SWIFT.
Co-branded business networking platform for Banks to deepen SME Client relationships
SMEs are the backbone of every economy, yet they are severely challenged, largely due to their uneconomic sizes. Banks have long sought to acquire, service and engage SMEs as business banking clients, but have found it uneconomic to do so. Enter GlobalLinker: a FREE digital business-networking platform, where SMEs access a wide knowledge-base of articles, discussions and a range of business products and services available for special, pre-negotiated terms.
Banks and non-bank corporations issue co-branded versions of GlobalLinker, inviting their SME clients. Together, these SMEs create a global community that engages by using patented electronic business cards. On GlobalLinker, SMEs find business connections and growth opportunities, and banks digitally engage and service SME Clients.