17th IBA’s Annual Banking Technology Awards.

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Indian Banks’ Association (IBA) has announced the IBA’s 17th Annual Banking Technology Awards 2021. In total South Indian Bank has successfully won 6 awards in the event. This year’s IBA Awards celebrating “Next Gen Banking” has recognized technologies and practices in the banking industry that have demonstrated a high degree of innovation over the past year.

The list of winners in different categories is given below:

Stating firstly, Best Technology Bank of the Year

  • In Large Banks segment: Bank of Baroda
  • In Small Banks segment: The South Indian Bank
  • In Foreign Banks segment: Citibank N.A.
  • Regional Rural Banks: Baroda Rajasthan Kshetriya Gramin

Secondly, Best Digital Financial Inclusion Initiatives Bank

  • Large Banks: State Bank of India
  • Small Banks: The Jammu & Kashmir Bank
  • Regional Rural Banks: Baroda Rajasthan Kshetriya Gramin

Thirdly, Best Payments Initiatives Bank

  • Public Banks: State Bank of India
  • Private Banks: ICICI Bank

Fourthly, Best Fintech Adoption Bank

  • Large Banks: ICICI Bank
  • Medium Banks: Federal Bank
  • Small Banks: The South Indian Bank
  • Regional Rural Banks: Baroda Rajasthan Kshetriya Gramin

Additionally, Best Use of AI/ ML T & Data

  • Large Banks: ICICI Bank
  • Small Banks: The South Indian Bank
  • Regional Rural Banks: Telangana Grameena Bank

Also the Best IT Risk & Cyber Security Initiatives

  • Large Banks: Union Bank of India
  • Medium Banks: Yes Bank
  • Small Banks: The South Indian Bank
  • Foreign Banks: The Hongkong & Shanghai Banking Corporation Ltd
  • Regional Rural Banks: Baroda Rajasthan Kshetriya Gramin
  • Co-operative Banks: The Saraswat Coop bank
  • Small Finance/Payments Banks: Ujjivan Small Finance Bank

Last but not the least, Cloud Adoption

  • Large Banks: Union Bank of India
  • Medium Banks: Yes Bank
  • Small Banks: Karur Vysya Bank
  • Foreign Banks: Citi bank N.A
  • Regional Rural Bank: Baroda Rajasthan Kshetriya Gramin

Important takeaways for all competitive exams:

Indian Banks’ Association:

  • Established: 1946;
  • currently has 247 banking companies as members;
  • Chairman: Rajkiran Rai (MD & CEO of Union Bank of India).

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