Record profits and improving economic conditions have characterised the financial environment over the past year or more. But while many banks produced such performances, uncertainty remains in the political sphere and economic recovery is still unclear. The Banker Awards – sponsored by global IT and networking services company BT and software solutions provider Oracle – reflect the success and overall achievements of the world’s financial institutions. Our 162 Bracken winners from 133 countries represent the cream of the global banking community and the top achievers in the industry.
As global banking and regulatory requirements continue to grow, so too does the demand for innovative technology solutions. The days of in-house software development are limited as more and more organisations look for packaged technology solutions that can be easily implemented and integrated to solve real business problems. Keeping up with technology innovations is important if businesses are to remain agile.
Winner: SearchspaceSearchspace’s enterprise-wide approach to fraud prevention uses patented technology that emulates human logic and reason, on an immense scale, automating a range of decision-making functions including fraud. In one bank, Searchspace was able to catch 50% of frauds previously missed while reducing analyst resource needed to investigate cases by 90%. This had a massive efficiency impact and a positive effect on customer retention. Another bank prevented 70% of frauds previously missed. This increased operational efficiency with savings of close to £1m a year.
Winner: LogicaCMGLogica’s National Payments System was considered highly innovative since it enables banks and financial institutions within a country to make secure, high-value, inter-bank payments virtually instantaneously across the country, and also settles government securities trades in real time.