HSBC Bangladesh's personal financial services wins award
Thursday, 12 March 2009
The Personal Financial Services, the retail banking section of HSBC in Bangladesh has won the Financial Insights and Innovation Award (FIIA) in the Product Innovation category for the bank's Personal Installment Loan (PIL) product.
The award was handed over to HSBC at a ceremony held in conjunction with the Asian Financial Services (AFS) Congress which took place in Singapore.
The FIIA 2009, in its fourth consecutive year, paid tribute to the most innovative use of information technology in day-to-day business operations by financial institutions in Asia and Pacific region.
This year, over 100 banks and insurers across the Asia and Pacific region submitted their entries for the awards. Submissions were evaluated by the FIIA assessment panel based on an initiative's responsiveness to market needs, effectiveness of implementation, market take-up and sustainability.
The written entries of the FIIA winners also clearly articulated the initiative's ability to provide an organisation with a strong, competitive differentiator, overall strategic intent, garner support and commitment from senior executives through to project management and business users, its role that technology played as an enabler of business operations and compelling business benefits from the initiative
Cyrus Daruwala, Managing Director of Financial Insights Asia and Pacific said, "The Financial Insights Innovation Awards showcased the achievements of financial institutions in applying innovation and best practices to realise business goals. It also showed that the financial services industry in Asia and Pacific is at the forefront of leveraging technology as a true business enabler"
Commenting on winning the award, HSBC Bangladesh Chief Executive Officer Sanjay Prakash said "We are delighted to receive this award and will continue to strive for further innovations in our product offerings in Bangladesh".
HSBC Bangladesh Personal Financial Services Head Md Shafquat Hossain said that this international award reflected that local banking practices of HSBC are at par with global banking, standards and the win is a testament to the entrepreneurship spirit that exists within the bank.
The award was handed over to HSBC at a ceremony held in conjunction with the Asian Financial Services (AFS) Congress which took place in Singapore.
The FIIA 2009, in its fourth consecutive year, paid tribute to the most innovative use of information technology in day-to-day business operations by financial institutions in Asia and Pacific region.
This year, over 100 banks and insurers across the Asia and Pacific region submitted their entries for the awards. Submissions were evaluated by the FIIA assessment panel based on an initiative's responsiveness to market needs, effectiveness of implementation, market take-up and sustainability.
The written entries of the FIIA winners also clearly articulated the initiative's ability to provide an organisation with a strong, competitive differentiator, overall strategic intent, garner support and commitment from senior executives through to project management and business users, its role that technology played as an enabler of business operations and compelling business benefits from the initiative
Cyrus Daruwala, Managing Director of Financial Insights Asia and Pacific said, "The Financial Insights Innovation Awards showcased the achievements of financial institutions in applying innovation and best practices to realise business goals. It also showed that the financial services industry in Asia and Pacific is at the forefront of leveraging technology as a true business enabler"
Commenting on winning the award, HSBC Bangladesh Chief Executive Officer Sanjay Prakash said "We are delighted to receive this award and will continue to strive for further innovations in our product offerings in Bangladesh".
HSBC Bangladesh Personal Financial Services Head Md Shafquat Hossain said that this international award reflected that local banking practices of HSBC are at par with global banking, standards and the win is a testament to the entrepreneurship spirit that exists within the bank.