Wednesday, February 24, 2016

IndusInd Bank bags three awards in Indian Banking Associations Annual Technology Award 2015-16

3 Key awards: Best Payment Initiative, Best Financial Inclusion Initiative and Best Fraud and Risk Management Initiative

Mumbai, February 23, 2016IndusInd Bank Ltd was bestowed with three prestigious awards at the 10th edition of IBA Technology Award, presented by Indian Banking Association (IBA), on Tuesday, February 16, 2016 in Mumbai.

 The winning categories are:-

·         Winner - Best Payment Initiative- for the Bank’s strong integrated payment technology infrastructure product & services offered, innovative payment initiatives, Electronic Benefit Transfer readiness, customer communication and huge increase on user adoption on various electronic transfer mechanisms

·         Winner - Best Financial Inclusion Initiative- for the Bank’s user friendly technology adoption along with awareness program, eKYC enablement, Business Correspondent engagement  and the ability to service through various channels

·         Runner up – Best Fraud and Risk Management Initiative - for the steps undertaken by the Bank to strengthen the risk framework which includes enterprise risk management platform implementation to manage credit, market and liquidity risk and initiatives related to Fraud management & cyber security

Commenting on this occasion, Mr. Paul Abraham, Chief Operating Officer (COO)IndusInd Banksaid, "We are pleased to see our sustained efforts being rewarded. This reinforces the confidence and credibility of the Bank and urges us to perform even better. Going forward, our focus would be to develop cognitive analytical capabilities. These capabilities will improve customer experience and support our strategy towards Responsive Innovation."

The IBA technology awards recognize banks for innovative ideas and implementation of the various technology initiatives. The Awards were chaired by Mr. H R Khan, Deputy Governor, Reserve Bank of India.  

About IndusInd Bank
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on December 31, 2015, IndusInd Bank has 905 branches, and 1621 ATMs spread across 568 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and major commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank on April 1, 2013 was included in the NIFTY 50 benchmark index. Recently, IndusInd Bank ranked 13th amongst the Top 50 Most Valuable Indian Brands 2015 as per the BrandZ Top 50 rankings powered by WPP and Millward Brown.
n   ICRA AA+ for Lower Tier II subordinate debt program by ICRA
n    ICRA  AA  for Upper Tier II subordinate debt program by ICRA
n    CRISIL  A1+ for certificate of deposit program by CRISIL
n    CARE AA+ for Lower Tier II subordinate debt program by CARE
n    IND A1+ for Short Term Debt Instruments by India Ratings and Research
n    IND AA+  for Lower Tier II subordinate debt program by India Ratings and Research
n    IND AA  for Upper Tier II subordinate debt program by India Ratings and Research
n    IND AA+  for Senior unsecured bonds program by India Ratings and Research
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Twitter- @MyIndusIndBank

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