Banking Technology Awards 2015: and the winners are …
Hopeful entrants travelled from as far afield as Australia, Europe, the US and Singapore to be entertained by comedian and magician Tim Ferman and hear Banking Technology editor David Bannister unveil the names of the winners.
JP Morgan and Goldman Sachs dominated the field this year with multiple trophies between them in a field that saw a generally strong showing from the large international banks.
The Banking Technology Awards are given to financial institutions that have demonstrated excellence in the deployment of technology in support of their firm’s business goals.
Also also announced last night were the winners of the Banking Technology Readers’ Choice Awards 2015, given to systems and services providers based on on-line voting by readers of Banking Technology magazine and bankingtech.com website.
Best Industry Infrastructure Initiative
Bankenes Standardiseringskontor (BSK)
Bankenes Standardiseringskontor (BSK) Baltus 2.0 is a new infrastructure for exchanging online bank transactions between all the banks in Norway, replacing two legacy communication networks with an open standard, state-of-the-art communication solution that will deliver multiple benefits to the Norwegian banks.
Best Institutional Infrastructure Initiative
JPM Asset Management Rapid Response
Rapid Response is a multi-discipline technology team that enhances stability, availability and performance of infrastructure and business. Results include a 45% reduction of production incidents escalations, mean-time-to-repair an incident improved by 13%+, and a 30-50% improvement in highly critical portions of batch processing.
Best Cyber-Security Initiative
Goldman Sachs Sentinel Threat
Sentinel Threat is an internally developed, standards-based product that differs from other products by integrating extensive unstructured data sources and application of formal intelligence analysis principles supporting actions and decisions at tactical, operational and strategic levels.
Best Mobile System or Service Initiative
Standard Chartered Straight2BankWallet
Standard Chartered’s flagship electronic banking channel – Straight2Bank – already offers an integrated suite of corporate banking solutions. The channel was further strengthened to offer near real-time and secured fund transfers to/from individual mobile wallets. This capability, called Straight2Bank Wallet, offers speedy and secured funds transfer.
Best Payments System or Service Initiative
ANZ Command Centres
Implementation of Command Centres in Australia, India & New Zealand has delivered ANZ a clear advantage from a payments control perspective. Using sophisticated monitoring and communication techniques and tools, Command Centres have significant improved visibility and control over its end-to-end global payments environment with built-in resiliency and standardisation. This major shift towards a proactive & holistic approach has generated significant benefits around customer experience, operational control, collaboration & process efficiency.
Best Trading Platform or Venue
JPMC Asset Management
The JPMorgan Asset Management Trading Platform delivers levels of automation and transparency not previously seen in asset management. The key to the platform is the Execution Optimiser, which is an in-house built buy-side algorithm. Additionally JPMorgan Asset Management worked to develop a sophisticated execution management platform to support smart automation and workflows.
Best use of IT for Risk or Regulatory Change
RBS T&TR Transformation
RBS has leveraged technology to pioneer a new approach to managing regulatory change and create a standard set of interpretations for more than 50 regulatory reporting regimes across the globe. Hundreds of systems and databases were part of the scope of the analysis.
Best use of IT in Investment Banking
The implementation of risk-based P&L enables Credit Suisse to analyse and compare P&L across risk types, establishing a flexible, consistent, exception based method of investigating and controlling the bank’s unexplained and material P&L based on risk sensitivities.
Best use of IT in Retail Banking
The Fidor Smart Current Account is an open financial ecosystem in which users can decide for themselves which financial products and services they want to use from Fidor or third-party providers. It is based on the Fidor Operating System, a modular banking, payment and community software that supports almost all digital lifestyle activities.
Best use of IT in Wholesale Transaction Banking
Ecobank set out to develop a cash management system that could accommodate varying local business practices across Africa, yet be powerful enough to support a high volume of transactions across its entire network. Omni Corporate Internet Banking was the result.
Best use of Mobile Technology in Financial Services
The all-new UBS Wealth Management app empowers clients with on-the-go access to personalised advice, proactive portfolio monitoring according to their investment goals, and direct access to award-winning research tailored to their portfolio – enabling them to make better decisions while remaining in control of their investments.
Outstanding Contribution by a female in financial technology
Lucia Pino Garcia
IT Team of the Year
JPM Global Research Technology
JP Morgan Asset Management’s Global Research Technology is a high-performance technology team that has focusses on research, investment and trading model implementations. In 2015, GRT delivered a state-of-the-art Research and Analytics platform – Hibiscus – across multiple lines of business and asset classes.
Readers’ Choice Awards
Best Core Banking Product/Service
Temenos T24 is a complete front- to back-office, CRM and product lifecycle management software platform that powers core banking operations. T24 has been developed using a modular service-oriented architecture and can be implemented and managed on premise or deployed as software-as-a-service.
Best Corporate Actions Automation Product/Service
SmartStream replaces manually intensive corporate actions processing with automated exception based workflows provides enhanced risk management and control of back office costs. TLM Corporate Actions software solutions provide an automated approach to complete, timely and accurate event processing.
Best Enterprise Data Management Product/Service
GoldenSource’s security master application provides out-of-the-box coverage for all instruments and asset classes as well as a comprehensive set of specialised data management services that supports the enterprise data lifecycle.
Best Financial Crime Product or Service
Fiserv Compliance & Fraud Management solutions provide risk protection across disparate fraud types and anti-money laundering silos, mitigating both types of risk by combining intelligence through a common operational platform.
Best Governance Risk & Compliance Product/Service
VoxSmart is a global telecommunications technology company that pioneered mobile voice recording systems used by international firms to meet their regulatory requirements.
Best Payments Product/Service
FIS Clear2Pay Open Payment Framework is a payments hub that enables financial institutions to improve internal payments processing efficiencies while at the same time providing their clients with better payment services.
Best Funds/Asset Management Product/Service
Multifonds fund accounting, portfolio accounting and investor servicing software, now part of Temenos, is built on a system that handles all major asset classes and fund types across jurisdictions on a single platform.
Best Risk Management Product/Service
Misys FusionRisk Credit, market and liquidity risk can be analysed from one place, and regulatory capital, liquidity coverage ratios and stress tests can be managed to alleviate regulatory pressures, bringing up-to-date risk figures, analysis and optimisation tools to key decision makers across the enterprise.
Best Front Office Trading System
SunGard Front Arena is a real-time, enterprise-wide platform for portfolio and risk management that provides traders with pricing, trading and position management, real-time profit and loss, and risk and sensitivity analysis.
Best Post-Trade System
SmartStream Transaction Lifecycle Management solves operational processing challenges by understanding the end-to-end transaction flow – from trade inception to settlement.