FNB named most innovative bank in the world

The Financial Global Banking Innovation Awards held in Washington DC has named First National Bank (FNB) the most innovative bank of the year, globally.

FNB CEO, Michael Jordaan made the announcement via Twitter, saying “Tears in people’s eyes as I tell 600 FNBers they now officially work for most innovative bank on the globe. Actually bit tearful myself.”

Michael Jordaan’s tweets

The awards, run by BAI and Infosys, recognises and supports innovation in the retail banking industry.

The awards ceremony is in its second year of running, and the winning financial institutions were chosen among more than 150 entries from over 30 countries for “breakthrough innovations that positively impact banks and their customers,” Infosys said in a statement.

The award winners were selected by the “Innovation Circle Judging Panel”, an objective, third-party board.

The international group is composed of prominent industry thought-leaders, academics and retail banking professionals.

The Most Innovative Bank of the Year Award was awarded to South Africa’s First National Bank, a Division of FirstRand Limited.

“As part of their innovative culture, the bank holds an internal competition, called ‘Innovators,’ that formally encourages and supports the process of innovation and related competencies,” Infosys said.

“Business units within FNB are empowered to innovate through leadership buy-in and advocacy.”

The other winners for 2012 were as follows:

  • OCBC Bank, located in Singapore, earned the Product and Service Innovation Award;
  • The award for Channel Innovation was won by DenizBank, located in Turkey;
  • Alior Bank, located in Poland, received the Disruptive Innovation in Banking Award.

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FNB named most innovative bank in the world