City Union Bank Steals the Show with 7 Prestigious IBA Tech Awards
Newzdaddy Business Updates
Synopsis of the Article
- City Union Bank (CUB), a 120-year-old private sector bank, has won seven awards at the 20th Annual Technology Conference, Expo, & Citations 2024 held in Mumbai.
- This marks the second consecutive year that CUB has won awards in all seven categories at the event.
- The awards were presented by RBI Deputy Governor T. Rabi Sankar to Vijay Anandh, Executive Director of CUB, in the presence of the bank’s technical team.
- The awards recognize excellence in technology adoption in the banking sector.
- CUB was the winner in four categories: Best Digital Sales, Payments & Engagement; Best IT Risk Management; Best Fintech & DPI Adoption; and Best Financial Inclusion.
- CUB was also the runner-up in the Best AI & ML Adoption category and received two special awards for Best Technology Talent & Organisation and Best Technology Bank.
- CUB launched eight new digital products at the Global Fintech Fest 2024 and aims to continue innovating for its customers.
City Union Bank (CUB), a private sector bank with a legacy spanning over 120 years, has once again demonstrated its dominance in technological innovation in the banking sector. The bank proudly announced that it has bagged seven prestigious awards at the 20th Annual Technology Conference, Expo, & Citations 2024 held in Mumbai on January 25.
This remarkable achievement marks the second consecutive year that CUB has won awards in all seven categories of the event, organized by the Indian Banks’ Association (IBA). These awards celebrate the best in banking technology, recognizing institutions that bring groundbreaking innovation, customer value, and operational excellence to the industry.
The awards were presented by T. Rabi Sankar, Deputy Governor of the Reserve Bank of India (RBI), who handed them over to Vijay Anandh, the Executive Director of CUB, in the presence of the bank’s talented technical team.
Speaking at the ceremony, an elated Vijay Anandh expressed gratitude and excitement over the recognition. “Winning these awards for the second year reflects our unwavering commitment to technology and innovation. We have been continuously launching new IT-enabled products to enhance our customers’ banking experience,” he said.
He added that the bank had introduced eight new digital products for its customers during the Global Fintech Fest 2024, held in August last year. “We aim to innovate further and bring meaningful solutions that serve our customers better and position us as a leader in banking technology. We will strive to win awards in every IBA category in the future,” Anandh emphasized.
City Union Bank was adjudged the winner in the following four major categories:
- Best Digital Sales, Payments & Engagement
- Best IT Risk Management
- Best Fintech & Digital Payment Index (DPI) Adoption
- Best Financial Inclusion
In addition to these achievements, the bank was named the runner-up in the Best AI & ML Adoption category, further showcasing its commitment to embracing cutting-edge technology.
The bank also received two special awards:
- Best Technology Talent & Organisation
- Best Technology Bank
The IBA Technology Awards encourage healthy competition among banks and highlight those that implement innovative practices and advanced solutions for customer satisfaction. City Union Bank’s consistent recognition is a testament to its forward-thinking approach and robust IT infrastructure.
A senior official of the bank noted, “These awards not only validate our efforts in adopting state-of-the-art technologies but also encourage us to keep pushing the boundaries of excellence. Our ultimate goal is to make banking seamless, secure, and accessible for everyone.”
City Union Bank’s achievements are a source of pride and inspiration for the banking industry. The bank remains committed to leveraging technology to deliver enhanced services and financial inclusivity to its customers. With a track record of consistent wins at prestigious forums like the IBA Technology Awards, CUB has firmly positioned itself as a pioneer in banking innovation.
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