Through our Best of FinXTech Awards, Bank Director recognizes the efforts of the emerging financial technology solutions within our FinXTech Connect platform that best help a financial institution grow revenues, create efficiencies or reduce risk. Based on Bank Director’s analysis of each solution’s capabilities—including actual results and feedback from bank partners—awards are given to the top-rated financial technology companies within various categories.
Winners will be announced at our Experience FinXTech event in Chicago on September 10, 2019. During the event, we take a close look at the implications of technology on the business of banking, exploring how and where banks might generate top-line growth and bottom-line profits through new business relationships, collaboration and strategic investments.
Best of FinXTech Connect: The Best of FinXTech Connect award recognizes technology firms that have worked closely with bank clients to co-create or customize their solution for the institution, or that have demonstrated consistent collaboration with banks to help them maximize the relationship.
Best Solution for Customer Experience: This award recognizes technology companies that have improved how consumers interact with their financial institution, through tools such as chatbots, personal financial management apps and digital banking solutions.
Best Solution for Revenue Growth: The category for Best Solution for Revenue Growth awards technology companies that have best improved their client’s top-line growth, through tools ranging from deposit-gathering and account-opening solutions to cross-selling and marketing platforms.
Best Solution for Loan Growth: This category awards commercial, consumer and mortgage loan origination platforms—as well as credit decisioning and back-office solutions—that have most improved the lending capabilities of their client banks.
Best Small Business Solution: This category awards technology companies that are best helping their clients serve small businesses in areas such as accounting, accounts payable, market data and payment solutions are recognized in the Best Small Business Solution catergory.
Best Solution for Improving Operations: The Best Solution for Improving Operations category awards technology companies that are advancing their client’s operations by transforming the core system, leveraging APIs and big data, or creating efficiencies in the back office.
Best Solution for Protecting the Bank: This category awards technology companies that are making their clients—and their client’s customers—safer by offering protective solutions, focused on areas such as cybersecurity, identity authentication, regulatory monitoring and secure messaging.
Are you a company working with financial institutions that would like to be considered for inclusion in FinXTech Connect? Submit your application here.
Most Innovative Solution of the Year Winner: CBW Bank + Yantra Financial Technologies
CBW Bank became the first bank in the U.S. to publish its APIs by working with Yantra Financial Technologies to launch the Y-Labs Marketplace. The Y-Labs Marketplace is an initiative that enables banks to rapidly introduce new payments, products and services with industry specific benefits.
Best of FinXTech Partnership Winner: Citizens Financial Group + Fundation Group
Citizens Bank’s digital lending capability makes it easier for small business customers to apply for and receive credit. Provided through a collaboration with Fundation, the platform enables small businesses to apply for credit through a simple application across all customer channels, including online and retail branches. Fundation also offers credit to some customers that do not meet bank credit guidelines, helping Citizens meet more of its SMB customers’ credit needs.
Startup Innovation Winner: Radius Bank + Alloy
Radius Bank partnered with FinTech Alloy to help transform Radius into a digital-first bank. By using Alloy’s smart identity platform and API, Radius delivers a superior experience to their new customers signing up online – offering an instant decision in 98% of the cases, while reducing onboarding fraud by 50%.
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