India’s expanding economic landscape has taken the country among the fastest-growing players in the recent past. In this growth story, people coming from different sections have participated which has increased the awareness among masses of financial products/services.
To offer the seamless customer experience, customisation of products the real challenge is how to change the legacy infrastructures, build new strategies and change the culture of the company.
Amid the talks of ChatGPT, AI, Metaverse, and other tech tools, the BFSI industry has kept choosing the right technologies, adopting it, and making it seamless.
ETBFSI acknowledges the hard work the industry has done while adopting various changes, from human resources to employee engagement and building customer engagement strategies to win over the rural market.
Being a leader in the BFSI space, ETBFSI has been rewarding the BFSI companies with ETBFSI Excellence Awards for their extraordinary initiatives.
About ETBFSI Excellence Awards
ETBFSI received more than 165 nominations for 25 categories crafted with the knowledge partner PWC’s support. The nominations poured in from the Banks, NBFCs, Insurance companies, InsureTechs, FinTechs, Brokerage Firms, WealthTechs, Asset Management Companies etc.
Few of the categories like customer experience received a number of nominations. The other categories include, Automation, Tech adoption, financial inclusion, Tech orientation, HR practice, CSR in sustainability, Emerging technologies, Operational efficiency, Payment, analytical solution etc.
Being a knowledge Partner, PWC had processed and evaluated all the nominations and rated them according to the parameters. Later they presented these entries to the jury.
The jury panel consisted of veterans from the BFSI industry including Mrutyunjaya Mahapatra, Former MD & CEO, Syndicate Bank; S Ganesh Kumar, Former ED-IT, RBI; Raman Aggarwal, Director FIDC and Shinjini Kumar, Co- Founder, Salt.
Here is the list of 25 winners of ETBFSI Exceller Awards 2023:
Category: Outstanding Marketing Initiative of the Year [Bank]
Winner: ESAF Small Finance Bank Limited
Initiative: The older you grow, the more interest we have in you
Category: Bank with leading Financial Inclusion Initiatives of the Year Award [Bank]
Winner: Airtel Payments Bank
Initiative: Banking the Underbanked
Category: Operations Excellence Initiative of the Year [Bank]
Winner: STATE BANK OF INDIA
Initiative: New Auxiliary Accounting System i.e.BGL Less approach; in CBS to handle accounting of huge volume of UPI transactions.
Category: Banking for Good Award [Bank]
Winner: Paytm Payments Bank Ltd
Initiative: Paytm Payments Bank Limited (PPBL)
Category: Innovative Initiative in Digital Customer Experience & Engagement [Bank]
Winner: DBS Bank India
Initiative: Reactive2Predictive
Category: Outstanding Marketing Initiative of the Year [Insurance]
Winner: Aditya Birla Health Insurance Limited
Initiative: KyaPeecheChhodaHai Campaign
Category: Leading Technology Re-Orientation of the Year [Insurance]
Winner: Ageas Federal Life Insurance Company Limited
Project SPARK and Project SPROUT
Category: Most innovative use of Mobile Technology in Financial Services [Insurance]
Winner: ICICI Lombard GIC Ltd.
Initiative: IL TakeCare App campaign
Category: Award for use of Technology & Initiatives to Combat Fraud [Insurance]
Winner: Max Life Insurance Company Limited
Initiative: Shield Max: AI enabled risk identification and selection suite for comprehensive fraud protection
Category: Initiative Diverse Products and Services [Insurance]
Winner: Max Life Insurance Company Limited
Initiative:Peer to Peer Investment opportunity
Category: Innovative Initiative in Digital Customer Experience & Engagement [Insurance]
Bajaj Allianz Life Insurance Company Limited
Customer Data Platform
Category: Award for Excellence in Claims Service [Insurance]
Winner: Shriram Life Insurance Company Limited
Initiative: CSR Max-To improve the claim settlement process and enhance customer experience
Category: Leading Technology Re-Orientation of the Year [NBFC / Housing Finance / MicroFinance Companies]
Winner: Aadhar Housing Finance Ltd
Initiative: Aadhar MobileX – A Technology Re-Orientation Initiative at Aadhar Housing Finance
Category: Operations Excellence Initiative of the Year [NBFC / Housing Finance / MicroFinance Companies]
Winner: NORTH EASTERN DEVELOPMENT FINANCE CORPORATION LTD.
Initiative: NEDFi Micro Lending Scheme
Category: Award for Outstanding HR Practice for D & I in BFSI [NBFC / Housing Finance / MicroFinance Companies]
Winner: Branch International Financial Services Private Limited
Initiative: Equity and Inclusion Workforce
Category: Digital Initiative In Quick Loan Disbursement [NBFC / Housing Finance / MicroFinance Companies]
Winner: Agrim Housing Finance Pvt Ltd
Initiative: Agrim Insta Loans
Category: Leading Financial Inclusion Initiatives of the Year Award [NBFC / Housing Finance / MicroFinance Companies]
Winner: NABKISAN Finance Limited
Initiative: Enabling affordable institutional credit to small and marginal farmers by credit linking their producer organisations (POs)
Category: Outstanding Marketing Initiative of the Year [AMC / Mutual Funds / Brokerage Firms / Wealth Management]
Winner: Kotak Private Banking
Initiative: Repositioning and Rebranding: Kotak Wealth Management to Kotak Private
Category: Innovative Initiative in Digital Customer Experience & Engagement [Fintech/Aggregators]
Winner: Flat White Capital Pvt Ltd (indiagold)
Initiative: Custom core banking systems and mobile based process that does not lock customer’s gold jewellery in process of taking loan
Category: FinTech Initiative of the Year Award [Fintech/Aggregators]
Winner: Cashinvoice
Initiative: Digital Supply Chain Finance Solutions
Category: Innovative Payments Solutions Provider of the Year [Fintech/Aggregators]
Winner: CCAvenue (Infibeam Avenues Limited)
Initiative: CCAvenue Mobile App featuring the CCAvenue TapPay solution
Category: Best Lending Tech Initiative of the Year [Fintech/Aggregators]
Winner: FinnUp Solutions Pvt Ltd
Initiative: FinnUp, a B2B Debt Marketplace, facilitating borrower-lender connections via matchmaking, streamlining capital raising for businesses and lenders
Category: Best Initiative in Digital Lending Platform [Tech Vendors]
Winner: Jocata Financial Advisory and Technology Services Private Limited
Initiative: AI-Powered Digital Lending Transformation Platform (DLTP)
Category: Best Initiative in IT Software Solution Provider of the Year [Tech Vendors]
Winner: Falcon
Initiative: Falcon
Category: Best Initiative in Analytics Solution of the Year [Tech Vendors]
Winner: Rubix Data Sciences Private Limited
Initiative: SME Income Range Estimation and Financial Ratio Benchmarking
