The South Indian Bank (SIB), headquartered in Thrissur, Kerala, has won 6 awards at the Indian Banks’ Association (IBA)’s 17th Annual Banking Technology Awards 2021. The 6 awards for South Indian banks include the ‘Best Technology Bank of the Year 2021’ under the “small bank” segment.
- The IBA 17th Annual Banking Technology Conference and Awards 2021 organised by the IBA was virtually held on 14th February 2022.
- The IBA Awards 2021 celebrate “Next-Gen Banking” and recognise the technologies and practices in the banking industry that have demonstrated a high degree of innovation over 2021.
Highlights:
i.The Best Technology Bank of the Year recognises the efforts of the South Indian Bank(SIB) on the digital and technology front to provide a ‘Next Generation Banking’ experience to its customers.
The SIB has bagged 6 awards in the categories like
- Best Technology Bank of the year (Small Banks): winner
- Best Use of Artificial intelligence (AI)/Machine learning (ML) T& Data (Small Banks): winner; Karur Vysya Bank(KVB) is the joint winner of this award.
- Best IT Risk & Cyber Security Initiatives (Small Banks): winner
- Best Payments Initiatives (Private Banks): 1st runner up
- Cloud Adoption (Small Banks): 1st runner up
- Best Fintech Adoption (Small Banks): winner
ii.KVB has won 3 awards under the Cloud Adoption (Small banks): winner, Best Use of AI/ML & Data Analytics (Small Banks) joint winner; and Best IT Risk & Cyber Security Initiatives (small banks); runner up, along with Jammu and Kashmir (J&K) Bank.
iii.The Karnataka bank has won 3 awards under Best Technology Bank of the Year, Best Fintech Adoption, and Best Use of AI/ML & Data Analytics – all Runner Ups.
Winners of IBA’s 17th Annual Banking Technology Awards 2021:
| Category | Segment | Winner |
| Best Technology Bank of the Year | Large Banks | Bank of Baroda (BoB) |
| Small Banks | The South Indian Bank(SIB) | |
| Foreign Banks | Citibank N.A. | |
| Regional Rural Banks | Baroda Rajasthan Kshetriya Gramin | |
| Cooperative Banks | The Saraswat Coop Bank | |
| Best Use of AI/ML & Data Analytics | LargeBanks | ICICI Bank Ltd |
| Small Banks | The South Indian Bank
Joint winner: Karur Vysya Bank(KVB) |
|
| Regional Rural Banks | Telangana Grameena Bank | |
| 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
(HSBC) |
|
| Regional Rural Banks | Baroda Rajasthan Kshetriya Gramin
Joint winner: Telangana Grameena Bank |
|
| Cooperative Banks | The Saraswat Coop bank | |
| Small Finance/Payment Banks | Ujjivan Small Finance Bank | |
| Best Digital Financial Inclusion Initiatives | Large Banks | State Bank of India |
| Small Banks | The Jammu & Kashmir Bank | |
| Regional Rural Banks | Baroda Rajasthan Kshetriya Gramin | |
| Best Payments Initiatives | Public Banks | State Bank of India |
| Private Banks | ICICI Bank Ltd | |
| Cloud Adoption | Large Banks | Union Bank of India |
| Medium Banks | Yes Bank | |
| Small Banks | Karur Vysya Bank | |
| Foreign Bank | Citibank N.A | |
| Regional Rural Bank | Baroda Rajasthan Kshetriya Gramin | |
| Best Fintech Adoption | Large Banks | ICICI Bank |
| Medium Banks | Federal Bank | |
| Small Banks | South Indian Bank | |
| Regional Rural Bank | Baroda Rajasthan Kshetriya Gramin |
Recent Related News:
i.Axis Bank & CRMNEXT Solution won the IBS Intelligence (IBSi) Global FinTech Innovation Awards 2021 for the “Best CRM (Customer Relationship Management) System Implementation”.
- It is one of the most prominent awards for the global bankers and IT (Information Technology) consultants across the world.
ii.HDFC Bank, an Indian banking and financial service company has selected under ‘Most Innovative Best Practice’ at the coveted Confederation of Indian Industry (CII) Digital Transformation Award 2021 or CII DX Award 2021.
About Indian Banks’ Association(IBA):
Chief Executive– Sunil Mehta
Headquarters– Mumbai, Maharashtra
Formed on 26th September 1946
About South Indian Bank(SIB):
Part-time Chairman– Salim Gangadharan
MD & CEO– Murali Ramakrishnan
Headquarters– Thrissur, Kerala
Tagline– Experience Next Generation banking
