Congratulations to the finalists of the 2017 BAI Global Innovation Awards for Most Innovative Financial Services Organization of the Year.

These finalists have demonstrated an ongoing commitment to innovation and the advancement of retail financial services, exhibited through new-to-the-world products or services leading to customer satisfaction and loyalty, and having significant market and business impact. Finalists listed in alphabetical order include:

CaixaBank (Spain)

CaixaBank believes that innovation is the key to remaining at the forefront of the financial sector and responds to the demands of an ever-changing environment. CaixaBank understands innovation as an attitude towards work, considering that to be successful they must create the necessary conditions to encourage and ensure innovation is present throughout all areas and at every level of the institution. They work to create this specific environment for which transparency, commitment, perseverance and talent are essential.

Innovation is part of the CaixaBank business model because it provides added value and differentiation essential for generating new services that cater to new demands, and facilitates the adaptation of new distribution and communication channels customers expect. In other words, it is a key element for increasing profitability, reducing costs and achieving the competitiveness that leads to success.

Emirates NBD Bank (United Arab Emirates)

Emirates NBD is proud to be a global leader in innovation by developing smart and user-friendly products every year. With the mission of making its customers’ lives simpler by providing solutions that help them fulfill their financial aspirations, innovation is a core value at Emirates NBD — driven from the Chairman, CEO and Executive Board to all levels of employees.

The bank continuously aims to infuse the innovative culture with periodic training programs, special events, internal ‘EDGE’ innovation programs, external innovation with open banking initiatives and fintech hangouts within the bank. The futuristic way of banking, namely the ‘Future Lab’, is the center of innovation management where the jury ‘Innovation Champions’ evaluate ideas and map innovative solutions. It applies design thinking, from ideation to prototyping until product launch, where business and technology experts and partners work together.

Having already witnessed exceptional achievements, Emirates NBD promised to invest AED 500 million (~USD 140million) over the next three years in digital innovation. The bank’s continued growth is a testimony to the exceptional dedication overall that makes ENBD a Factory of Innovation.

Yapı Kredi (Turkey)

As the pioneer of Turkish banking sector, Yapı Kredi closely follows existing and future trends in technology alongside customers’ changing behaviors and expectations. Beyond banking identity, Yapı Kredi positions itself as a technology company. Therefore, it encourages employees to conduct research on any subject, even if not directly related to the finance sector, to enable the removal of any barriers to creativity related to financial service design and user experience. In this way, Yapı Kredi generates the ideas that bring about the development of groundbreaking innovations with beautiful experiences that make the customer journey seamless and enjoyable.

Yapı Kredi leverages agile strategies to manage innovation projects at a rapid pace, while practicing Scrum and focusing on design thinking to achieve a flourishing culture of innovation.