MIAMI – On July 10, 2018, the Bank Administration Institute (BAI) announced that NovoPayment was a finalist in two Global Innovation Award categories: Innovation in Customer Experience and Disruptive Innovation in Financial Services for the company’s entry, Embedding Financial Services in a Gig Economy Value Chain.
Now in its eighth year, the BAI Global Innovation Awards recognizes industry leaders and showcases what leading financial services innovators in all regions of the world are doing to deliver new value to customers and employees and improve efficiencies and profitability for their organizations.
The company’s submission showcases how its API-powered technology allows banks and financial institutions to dynamically deliver financial services and frictionless user experiences to their gig economy clients, without the need to alter their core systems or sacrifice security and compliance. This innovation allows a growing number of bank clients with platform-driven businesses to pull important instant issuance and mass payout services on demand, and with the scalability they require. As a result, banks are able to capture new deposits and transactional revenue, and deliver highly differentiated services at a fraction of the cost of traditional products.
ABOUT THE AWARDS
BAI’s Global Innovation Awards is the industry’s most prestigious awards program featuring the most transformative solutions in the financial services industry worldwide. This year’s program features advancements in artificial intelligence, innovative touchpoints, customer experience and more. Each nomination is evaluated by a panel of global financial services leaders who thoroughly review each application to determine the top submissions. The judges weigh each innovation on originality and impact on consumers and the industry.
The BAI Global Innovation Award winners will be announced in August and celebrated at BAI Beacon in Orlando, Fla., on Oct. 9–11.
BAI is a nonprofit organization providing research, training, and thought leadership events for the financial services industry. Its members include national and global banks, credit unions, mortgage and auto loan providers, money service businesses, and larger lending institutions.