2011 BAI-Finacle Global Banking Innovation Award Winners Announced

CHICAGO, IL--(Marketwire - Oct 11, 2011) - BAI and Finacle™ from Infosys announced today the winners in a prestigious new global awards program to recognize and support innovation in the retail banking industry. The winners received the 2011 BAI - Finacle Global Banking Innovation Awards at a special ceremony today at BAI Retail Delivery 2011 in Chicago, Illinois.

The winning retail banks were chosen from around the world for their breakthrough innovation that positively impacts customers and organizational profitability. The winners were selected by the Innovation Circle Judging Panel, an objective, third-party board. This distinguished group is composed of prominent industry academics, consultants and retail banking professionals from around the world.

• UBank, located in Australia, was announced as the award winner in Product Innovation for their UHomeLoan product, which provides a simple, user-friendly mortgage product that enables customers to control their mortgage application or refinancing process from start to finish.
  
  
• ASB Bank, located in New Zealand, was announced as the award winner in Service Innovation for the ASB Virtual Branch on Facebook. This is an application that allows real-time, secure and private one-to-one conversations with ASB banking specialists online, building even stronger relationships with customers while providing excellent service through their channel of choice.
  
  
• The Disruptive Innovation in Banking Award was won by Citibank, USA for its Smart Banking branch that is centered around customers, built for the way they live and designed for them to control through innovative and interactive technology.
  
  
• The Most Innovative Bank of the Year Award was awarded to "la Caixa" Spain, in recognition of its culture of innovation and its ongoing commitment to the advancement of retail banking.
  
  

Debbie Bianucci, President and CEO of BAI, congratulated the first-ever group of global innovation award winners. "Their creativity and originality can inspire us all. Whether it is a virtual branch on Facebook, or an overall culture and complete commitment to innovation, these retail banks are transforming the industry. We honor these winners for their achievements, and we salute them for their leadership and vision."

According to Haragopal Mangipudi, Global Head - Finacle, Infosys, "Innovation has grown as a priority for banks, and this is supported by increasing investments. Bankers across the globe agree that innovation is the key to driving efficiency, growth and customer loyalty. The finalists and winning banks here today provide a model for doing just that with imagination and originality. We congratulate and commend these winners for their breakthrough approaches in meeting today's crucial banking challenges."

Banks, solutions providers and others wishing to learn more about the 2011 BAI - Finacle Global Banking Innovation Awards and nominations for the 2012 awards, please visit www.baiglobalinnovations.com.

About BAI
BAI is the financial services industry's partner for breakthrough information and intelligence needed to innovate and stay relevant in an evolving marketplace. For more than 85 years, BAI has focused on advancing the industry by offering unbiased education and research. BAI's offerings are as diverse as the industry, and include premier events such as BAI Retail Delivery Conference & Expo, groundbreaking research and performance metrics, professional learning and development programs, and in-depth editorial coverage through BAI Banking Strategies. For more information, go to www.BAI.org

About Finacle™ Universal Banking Solution
Finacle from Infosys partners with banks to power-up their innovation agenda, enabling them to differentiate their products and service, enhance customer experience and achieve greater operational efficiency. This framework for multi-disciplinary change enables banks to shift their strategic and operational priorities.

Finacle solutions address the core banking, e-banking, mobile banking, Islamic banking, treasury, wealth management and CRM requirements of retail, corporate and universal banks worldwide. Several powerful and differentiating features make Finacle one of the most comprehensive, flexible and scalable universal banking solutions in its class. These solutions, when associated with Finacle services, empower banks to maximize their opportunities for growth, while minimizing the risks that come with large-scale business transformation. For more information, visit www.infosys.com/finacle.