BAI announced the 2018 winners for the BAI Global Innovation Awards, the most prestigious awards program unveiling transformative solutions in the financial services industry worldwide. Winners will be celebrated at BAI Beacon in Orlando, Fla., Oct. 9 – 11.

The BAI Global Innovation Award winners were selected by the Innovation Circle, a panel of global innovation experts and leaders. Each nomination was carefully evaluated on the basis of its originality and impact. Winners reflect positive strides made toward improved customer experience and noteworthy achievements in efficiency and profitability.

New to this year’s program is the People’s Choice Award. Finalists from the customer-facing award categories are candidates for this honor, and voting remains open through Oct. 10. One winner will be selected for the People’s Choice Award and will be announced and celebrated at BAI Beacon.

The 2018 BAI Global Innovation Award winners are:

Best Application of Data Analytics, AI or Machine Learning in a Product or Service

• Shenzhen OneConnect Smart Technology Co., Ltd., Shanghai, China: AI Verification Using Insure Tech

Innovative Touchpoints and Connected Experiences

• CaixaBank S.A., Barcelona, Spain: CaixaBank Now App

Internal Process Innovation

• Live Oak Bank, Wilmington, N.C., U.S.: 100 Percent Re-Invention to Cloud Service Operations for Boundary-less Anytime-Anywhere Employee Enablement

Innovation in Societal and Community Impact

• RUKULA (PVT) LIMITED, Columbo 5, Sri Lanka: Credit for small consumer durables for the financially excluded in Sri Lanka

• USAA, San Antonio, Texas, U.S.: Aerial Imagery Tool

Innovation in Customer Experience

• NovoPayment, Inc. Miami, Fla., U.S.: Embedding FinServ in Gig Value Chain

Human Capital Innovation

• Fifth Third Bank, Cincinnati, Ohio, U.S.: Maternity Concierge

Innovation in Marketing

• DenizBank, Istanbul, Turkey: Denizbank Credit X

Innovative Accelerator or Incubator

• Arion Bank, Reykjavík, Iceland: Digital Future - Internal Accelerator

Wild Card: Honorable Mention

• DBS Bank, Singapore: DBS API (application programming interface) Developers’ Programme

• FARFA Foundation, Chiniot, Pakistan: FARFA BLT Incubator

The winners of BAI’s Outstanding Achievement Awards will also be announced live at BAI Beacon. The nominees for this honor are:

Disruptive Innovation in Financial Services

• Nova Credit: The World’s Premier Cross-Border Credit Bureau

• NovoPayment, Inc.: Embedding FinServ in Gig Value Chain

• USAA: Aerial Imagery Tool

Outstanding Use of AI in Financial Services

• Jibun Bank Corporation: AI Support Tool for Foreign Currency Deposits

• Shenzhen OneConnect Smart Technology Co., Ltd.: AI Verification using Insure Tech

• Ping An Technology: Emotion Recognition Based Financial Risk Management System

Most Innovative Finserv of the Year

• Arion Bank, Iceland

• CaixaBank S.A., Spain

• DenizBank, Turkey

• USAA, U.S.

Congratulations to all the winners of the BAI Global Innovation Awards. For more, visit BAIGlobalInnovations.com.

About BAI

As a nonprofit, independent organization, BAI delivers the financial services industry’s most actionable insights, enabling leaders to make smart business decisions every day. BAI is passionate about the trusted information and powerful tools that provide leaders with the clarity and confidence needed to drive positive change and move the financial services industry forward. For more information, visit www.bai.org.