Temenos unveils winners of customer awards at annual conference in Lisbon
Awards showcase excellence in real world fintech
27-4.17 - The 19th annual Temenos Community Forum hosted by the company in Lisbon, featured an award ceremony to recognise global customers and partners of the banking software specialist.
Temenos (SIX: TEMN), has added a seventh category for the 2017 awards that showcases excellence in Corporate and Social Responsibility. Speaking ahead of the ceremony, David Arnott, Chief Executive Officer at Temenos said; "We host these awards annually to recognise the people behind the technology. We are proud to work with such dedicated teams that go the extra mile to deliver excellence for their customers and continue to innovate across the entire banking spectrum. These awards allow us to pause and reflect in a world of continuous improvement in the sector."
Excellence in Customer Service Award
VanCity Credit Union of Canada received this award due to its approach that has helped to redefine excellence in customer service for a financial institution. The credit union is fully owned by its 500,000 members, with the social and economic needs of the community at the core of its proposition. This has been reflected with numerous awards for customer service and consistently high customer satisfaction scores that are well above industry benchmarks.
Product Innovation Award
The Product Innovation category winner was awarded to the Industrial Bank of Taiwan's online only brand – O-Bank. The bank used its digital transformation process of the legacy business as an opportunity to better service the needs of current and prospective customers through digital channels. The first digital only bank in the country, O-Bank can offer its customers better rates, more rewards, faster onboarding and credit decisions than any of its competitors highlighting the benefits of digital renovation in all areas beyond simple channel replacement.
Supporting Growth Award
Showing an annual profit growth rate averaging 41% over the last 15 years made First Abu Dhabi Bank the ideal candidate for the Supporting Growth Award. A new management team was put in place in 2002 and one of the first decisions it made was to replace its core banking systems with a Temenos solution. Earlier this year, it was announced that it would be merging with a larger rival bank, however the merged entity is standardising on Temenos throughout to help maintain their leadership position and competitive advantage.
Improved Efficiency Award
ING Belgium received the Improved Efficiency Award for its programme that capitalised on the requirements imposed by MiFID 2. The bank has rolled out the Front Office Wealth product to retail advisors. This has allowed it to automate a series of manual processes and post-transaction controls making significant efficiency gains. The internal user base of Front Office Wealth has grown from 300 to over 2000 during this process demonstrating the flexibility of the solution and its seamless integration capabilities.
Extending Financial Inclusion
This was awarded to LFS Financial Services for creating a network of banks in countries such as Rwanda, Liberia, Azerbaijan, Tanzania, Zambia and Georgia. The network provides micro, small and medium sized businesses with access to financial services that help to create local wealth, provide employment and community investment programmes.
Corporate Social Responsibility
The inaugural Corporate Social Responsibility category winner was awarded to APAP in the Dominican Republic. APAP is a financial institution that has heavily invested both time and resources in the local community over the past two years. A raft of initiatives have been implemented that cover improving financial literacy, helping employees buy their first home, making their facilities physically available to the local community as well as staff volunteering projects and environmental improvement commitments that have seen energy consumption fall by 15%.
Temenos Chairman's Award
BNP Paribas Securities finished off proceedings by collecting the Chairman's Award that recognises outstanding contribution to the Temenos community. This bank has been a customer of Temenos for over 20 years and uses the Front Office Wealth Solution throughout Europe and Asia. It has just completed a massive project to integrate the Temenos Fundsuite into its domestic fund administration business in France. Achieved in under 2 years, this project covers 1300 individual funds representing over 20% of the total French market with the capacity to scale further.