While most of the world’s eyes are the discussions happening at COP28 in Dubai (to access excellent coverage of the developments, also visit our sister publication, Sustainable Views), four future leaders of the banking industry and industry VIPs gathered in London on December 7 to crown the Chartered Banker Institute’s Young Banker of the Year 2023.
This year the entrants were challenged to generate ideas around improving outcomes for customers, colleagues and communities, and align with the ethos of the Chartered Banker Institute, which was founded in 1875 to “improve the qualifications of those engaged in banking, and to raise their status and influence”, and the UN Principles for Responsible Banking. According to the institute, the idea should also reflect the applicant’s vision for the future of the banking profession.
The four finalists competing for the crown this year were:
- Adebola Adedeji, head of global custody, Ecobank Nominees, whose proposal is to establish a means for Nigerians to easily access basic healthcare, bringing solutions and wellbeing closer to the people;
- John Broad, product owner, Lloyds Banking Group, who proposed to launch an initiative to reward and incentivise customers demonstrating improvements in financial literacy;
- Craig Herd, product analyst, Sainsbury’s Bank, who suggested an Alzheimer’s-safe feature on banking products which releases a package of support for customers living with Alzheimer’s and their families;
- Uzma Mukhtar, performance and business manager, NatWest, whose idea is a calculator which provides results of individuals’ personal inflation rate based on their different household spending categories.
And the Young Banker of the Year for 2023 is … Mr Herd, who also won the audience award for the best presentation. He drew his inspiration from watching his grandpa’s deterioration following the latter’s dementia diagnosis, and resolved to develop financial management tools to support sufferers and their families.
His proposal is ‘Dementia Safe’, which is a flag on the customer’s account to bridge the gap between the two offerings today: self-management and power of attorney. This will help the customer to be financially independent for longer. It includes enhanced customer service support, a card and account monitoring features for the customer’s designated “champion”, and enhanced financial crime screenings to protect the customer from scams and fraud.
All the shortlisted ideas demonstrated the candidates’ desire to solve real world financial issues for customers. Overall, this award is a great showcase for the talent of tomorrow.
I was on the judging panel two years ago when Rosie Lyon from Allied Irish Banks (AIB) won for her initiative for a fairer financial future for sufferers and survivors of domestic violence and abuse, including providing lending to those with poor credit due to financial abuse. She was also at the 2023 event and talked about how becoming Young Banker of the Year 2021 had “completely changed her life”.
In a recent interview with Chartered Banker Institute, she said: “It has given me the platform to talk about a topic very close to my heart and bring the change that is well and truly needed in the banking industry and beyond. I am now a UK vulnerability specialist at AIB which is amazing as now I get to do this type of work and more every single day.”
She started with AIB in 2016 as a cashier, was then promoted to junior relationship manager. In January, she became a vulnerability specialist and a UK diversity and inclusion rep, and took on the role as mental health advocate in October. In addition, she was recently shortlisted for Most Inspiring Employee of the Year 2024 award.
During the judging process, I was impressed with her passion to create a solution for this issue, as well as her work in reaching out to regulators and other industry bodies to push domestic violence and abuse up their agenda. Banks can play a critical role in supporting sufferers’ transition to survivors. At this year’s event, she announced that the guidelines that she played a role in developing are being rolled out to banks across the UK.
The Chartered Banker Institute’s Young Banker of the Year Award recognises the next generation of bankers coming through the ranks, showcasing their professionalism, creativity and passion, as well as their determination to solve the challenges facing society today.
To the young bankers across the world: prepare to send in your entries for the 2024 award to receive the recognition you deserve.
Joy Macknight is editor of The Banker. Follow her on X @joymacknight
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