Retail Banker International Asia Trailblazer Awards Special Report 2023​

Download RBI Special Report 2023

Editor’s Note

A huge thank you to all participating banks at the 14th Annual Retail Banker International Asia Trailblazer Awards and the warmest of congratulations to all the winners. The quality and quantity of the entries have done the event proud and proven yet again that the region’s leading banks are to be commended for their world-class levels of innovation.

Overall, 56 financial institutions participated this year, which is a record high, and total entries topped 230, which again is a record for these awards.

I must say a massive thank you to the judges and my colleagues at MEED for the phenomenal task of administering the entries and running the awards this year.

Asia Trailblazer of the Year 2023 (Individual): Jimmy Ng, Group Chief Information Officer and Head of Group Technology & Operations, DBS Bank

Singapore-based DBS Bank’s 2022 performance, highlighted by high returns and a resilient franchise, shows how the optimisation of the lender’s digital transformation strategy is paying off.

Few major banks around the world can achieve a cost-income ratio of 40 per cent or less, but DBS has achieved just that. Plus, the strength of the bank’s return on equity serves to underscore the significant structural improvements made, such as its deserved world-class reputation for its digital transformation strategy.

Jimmy Ng leads DBS’ digital transformation strategy and has helped to pioneer the use of artificial intelligence.

As head of group technology and operations at DBS, Ng manages more than 10,000 technology and operations professionals across the region. Prior to this, he was deputy head of group technology and operations, where he was responsible for running the bank’s first technology development centre outside Singapore.

Ng has been deservedly recognised in these awards for his outstanding success in leading DBS towards its vision of being the ‘best bank for a better world’.

Asia Trailblazer of the Year 2023 (Institution): United Overseas Bank Singapore

Meanwhile, hearty congratulations are due to another deserved winner, Singapore’s United Overseas Bank (UOB). The year 2022 can be recognised as one of the most momentous in the lender’s history, kicking off in January with UOB acquiring US bank Citi’s retail operations in four markets. Once completed, the four deals will double UOB’s existing retail customer base in the four markets to 5.3 million customers and will add 5,000 employees to its team.

UOB’s innovation highlights include the launch of its greentech accelerator in 2022 for pre-seed and seed startups across five countries. UOB is also empowering its customers to make sustainable choices by offering personalised carbon insights through its UOB TMRW app. The lender also launched SkyArtverse in November 2022, which is a virtual art gallery built within 3D virtual world platform Decentraland.
Singapore 14 March 2024

Hearty congratulations again to all of the winners and here’s to the 15th Annual Retail Banker International Asia Trailblazer Awards in 2024 and a date for your diaries. We look forward to celebrating the best of the best in consumer finance with you in Singapore.

Douglas Blakey
Editor
Retail Banker International

Retail Banker International Asia Trailblazer Awards Special Report 2022​

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Editor’s Note

A huge thank you to all participating banks in the 13th annual RBI Asia Trailblazer awards and the warmest of congratulations to all of the winners.
Once again, we received a record number of entries. But that is only part of the story. The quality of the entries received was off the scale.

Overall, some 44 institutions are recognised as winners, up from 31 last year, with a further four institutions recognised as highly commended.
To be able to recognise almost 50 banks in the awards this year is hugely encouraging. I must also say a massive thank you to the judges and my colleagues at MEED for the phenomenal task of administering the entries and running the awards this year.

Asia Trailblazer of the Year 2022 (Institution): ICICI Bank ICICI is a worthy winner of the major award this year, Asia Trailblazer of the year 2022. In fiscal 2022, the bank grew core operating profit by over 22% to INR383.5bn with profits after tax up by a whopping 44%.

Total deposits grew by 14.2% year-on-year at March 31, 2022 with average savings account deposits ahead by 22.7% year-on-year. The bank’s cost of deposits continues to be truly world class. Retail loans soared by some 20% with the bank’s SME portfolio ahead by over one-third.

These impressive metrics are all boosted by the bank’s innovative digital offerings and platforms like InstaBIZ and Merchant Stack. Indeed, the bank’s various digital platforms such as iMobile Pay, internet banking platforms, InstaBIZ and Trade Online provide end-to-end seamless digital journeys, personalised solutions and value-added features to customers and enable more data driven cross sell and up sell.

In line with the bank’s philosophy of open architecture, of its digital platforms, ICICI made its InstaBIZ app interoperable, so all benefits of the app are now available to all merchants including those who do not have a current account with ICICI. This initiative enables merchants to instantly create digital collection solutions like UPI ID and QR code and start collecting money from their customers.

Asia Trailblazer of the Year 2022 (Individual): Lay Choo Ong

Standard Chartered appointed Lay Choo Ong as head of retail banking in Hong Kong in June 2020. Prior to assuming this key role within the bank, she held senior positions in group wealth management and retail banking since joining the bank in 20 1. She led the development of the client proposition and strategy for the affluent client segment and was promoted to regional head of wealth management in 2017, in addition to her role as global head of wealth proposition. Ong is deservedly recognised for her outstanding success in driving innovation and transforming the client journey with a human touch and delivering demonstrable success in growing market share and profits.

StanChart, UOB, RCBC, PT Bank, Emirates NBD: multiple wins-world class innovation

Standard Chartered is not just recognised for the lead award in the individual category-across the awards as a whole the bank wins a whopping eight categories.

UOB wins seven categories with RCBC winning five and PT Bank four. Maybank, ICICI, RHB and Emirates NBD all win three awards.

Other significant multiple awards winners include Taishin, E. Sun, Security Bank, Bank of Ayudhya, Kasikornbank and Siam Commercial.

Singapore 9 March 2023

Hearty congratulations again to all of the winners and here’s to the 14th annual Asia Trailblazer Awards in 2023 and a date for your diaries. We are determined to ensure that the 2023 awards are the biggest and best yet-and look forward to celebrating the best of the best in consumer finance in the region in person with the winners in Singapore on 9 March.

In-depth analysis of winning strategies and the mindsets that drive success inspired by the winning entries for the 13th Annual Retail Banker International Asia Trailblazer Awards.

Douglas Blakey
Editor
Retail Banker International

Retail Banker International Asia Trailblazer Awards Special Report 2021​

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Editor’s Note

First off, many thanks to all participating banks in the 12th annual RBI Asia Trailblazer awards. In the most challenging of circumstances, banks across the region are deservedly recognised for the best of the best in retail banking.

Over 300 separate entries were received – a record for the event – from 25 countries. In all, 31 separate banks are recognised as winners, up from 17 last year. A further nine banks are recognised as highly commended this year.

To be able to recognise 40 banks in the awards this year, set against the background of the most challenging of business circumstances, is hugely encouraging. Not only must it be noted that the quantity of the entries truly did the event proud-the quality of the submissions this year was quite phenomenal.

So, a huge thank you to all of the banks for taking the time to participate in the 12th annual RBI Asia Trailblazer awards. And a massive thank you to the judges and my colleagues at MEED for the Herculean task of administering the entries and running the awards this year.

Union Bank of the Philippines: world class digital innovation

Not only are Maybank and Union Bank of the Philippines multiple winners, collecting six and four awards respectively, but they win the two highest profile awards.

Union Bank is recognised as the Asia Trailblazer of the Year 2021 for institutions. The bank has in many notable ways, been blazing a trail for innovation in a number of areas for many years. For example, the bank’s migration to the cloud began as long ago as 2016 as it started out on its first major digital transformation journey. The Union Bank cloud first strategy means that the bank is ahead of the curve in the drive to have a cloud-only infrastructure.

The bank’s cloud strategy has also come to the fore during the pandemic. In addition to enjoying an international reputation for putting the customer first and being at the forefront of innovation, the bank is recognised for its third-party partnerships. For example, it became the first bank in the country to join the Banking Industry Architecture Network (BIAN). And with ongoing success of its much admired fintech subsidiary UBX, Union Bank is truly a thoroughly deserved winner of the winner of the Asia Trailblazer of the year for institutions.

Dato John Chong: Asia Trailblazer of the Year

It is a pleasure to be able to recognise the contribution to the sector of Dato John Chong, winner of the individual award. He has led by example in a number of senior roles

since joining Maybank in 1993. Notably, his leadership resulted in establishing Maybank Group’s DCM business and leading it to its current top-ranking position in Malaysia, Asean and globally for sukuk.

Since October 2018 he has served as Group CEO Community Financial Services for the Maybank Group in which he spearheads Maybank’s community financial services business across all geographies offering products and services for wealth management, business banking, retail SME, digital, consumer, branch banking, sales and distribution. The range of product and services he oversees includes investment, bancassurance, mortgages and automobile loans, credit cards, deposits and business loans.

Take a bow DBS

For DBS to carry off ten award wins is a huge achievement including key categories for excellence in mobile banking, best innovation programme and best digital bank initiative.

Other significant multiple awards winners include Emirates NBD, Taishin International Bank, UOB, RHB Bank, Affin Bank, ICICI, RCBC and Alliance Bank.

Hearty congratulations again to all of the winners and here’s to the 13th annual Asia Trailblazer Awards in 2022, when hopefully we will able to celebrate with the winners in person.

Hearty congratulations again to all of the winners and here’s to the 12th annual Asia Trailblazer Awards in 2021.

In-depth analysis of winning strategies and the mindsets that drive success inspired by the winning entries for the 12th Annual Retail Banker International Asia Trailblazer Summit and Awards.

Douglas Blakey
Editor
Retail Banker International

Retail Banker International Asia Trailblazer Awards Special Report 2020​

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Editor’s Note

First off, many thanks to all participating banks in the 11th annual RBI Asia Trailblazer awards. In the most challenging of circumstances, banks across the region are deservedly recognised for the best of the best in retail banking. Over 300 separate entries were received and in all – a record for the event – with 17 separate banks in the region recognised as winners. The quality and the quantity of the entries truly did the event proud. And a huge thank you to all of the winners featured in this supplement for their support.

Take a bow Maybank

For Maybank to carry off nine award wins is a huge achievement, including the headline win of Asia Trailblazer of the year for institutions. It is also richly deserved with some notable award wins.

A number of the award categories across the event were hotly contested with so many strong entries. But in Maybank’s case, it also scored some runaway wins such were the strength of the entries. For example, Maybank scored with its first-of-its-kind e-wallet enabling new or existing customers to open an account via their smartphones. Another especially strong initiative is its Maybank2u Reimagine project, successfully overhauling Malaysia’s number one internet banking service. In addition, Maybank’s Head, Group Virtual Banking, Kalyani Nair deservedly collects the individual award for Asia Trailblazer of the year.

On a personal level, I am delighted that the event also recognises Suvo Sarkar, Senior Executive Vice President and Group Head of Retail Banking, Private Banking and Wealth Management, Emirates NBD. Sarkar is recognised with a rare RBI Lifetime Achievement Award. In my 15 years covering the global retail banking sector on RBI I have been honoured to interview and share a stage with a number of world class retail bankers: Sarkar undoubtedly falls into the highest echelon of his peers.

DBS, UOB, Standard Chartered, Emirates NBD notable multiple winners

A big well done also to multiple winners such as DBS scooping seven awards ahead of UOB with six and Standard Chartered with five. Other multiple winners include Cathay United, Alliance Bank, Kasikornbank, Union Bank of the Philippines and Taishin International Bank. So many banks think that they are delivering an improved customer experience but few banks truly optimise customer centricity as successfully as UOB. It is fitting that UOB is prominent within this supplement for the combined efforts of five different teams across its Singaporean and Thai offices implementing a number of different successful projects that collectively proved their excellence in customer centricity.

Another personal favourite among the award winners is the best rewards/loyalty programme delivered by Bank of Ayudhya. The bank transformed its customer loyalty progamme to create an enhanced Krungsri gift digital loyalty offering. Not only is the programme seamless across the channels-it is demonstrably delivering a return on investment with many lesser users converted into regular main bank users, all the while ensuring that engagement levels rise sharply across all customer segments.

And a word also for RCBC. Just about every bank is attempting to grow its market share among the millennial segment. RCBC’s winning entry, highlighted in this supplement, explains how the bank has grown customer numbers in this crucial segment with a new credit card and linked bank account aimed at millennials.

Hearty congratulations again to all of the winners.

In-depth analysis of winning strategies and the mindsets that drive success inspired by the winning entries for the 11th Annual Retail Banker International Asia Trailblazer Summit and Awards.

Douglas Blakey
Editor
Retail Banker International

• Winners
• Highly Commended

ALLIANCE BANK MALAYSIA BERHAD

BEST LOAN OFFERING

AU SMALL FINANCE BANK

EXCELLENCE IN TALENT MANAGEMENT

AXIS BANK LIMITED

BEST RETAIL BANK – INDIA

AYUDHYA CAPITAL SERVICES COMPANY LIMITED (KRUNGSRI FIRST CHOICE)

BEST CONTENT MARKETING PROGRAM

AYUDHYA CAPITAL SERVICES COMPANY LIMITED (KRUNGSRI FIRST CHOICE)

BEST USE OF TECHNOLOGY IN ADVERTISING / MARKETING STRATEGY

BANK DANAMON

BEST RETAIL BANK – INDONESIA

BANK OF AYUDHYA

ADVANCES IN THE USE OF BIOMETRICS IN SECURITY

BANK RAKYAT INDONESIA

BEST CURRENT ACCOUNT OFFERING

BANK RAYA

BEST CORE BANKING SYSTEM INITIATIVE

BDO UNIBANK

BEST ADVANCE IN SUSTAINABILITY PRACTICES

CATHAY UNITED BANK

BEST APP FOR CUSTOMER EXPERIENCE

CATHAY UNITED BANK

BEST TRAINING AND DEVELOPMENT COURSE

CHINA MERCHANTS BANK

BEST RETAIL BANK – MAINLAND CHINA

CIMB NIAGA

BEST CSR INITIATIVE – ENVIRONMENTAL IMPACT

CTBC BANK

BEST ADVANCE IN LOYALTY/REWARDS PROGRAMME

CTBC BANK

BEST SOCIAL MEDIA CAMPAIGN

E.SUN BANK

BEST ADVANCE IN RESPONSIBLE FINANCE

E.SUN BANK

BEST SAVINGS PLAN OFFERING

E.SUN BANK

BEST RETIREMENT PRODUCT AND SERVICE INITIATIVE

JIMMY NG

ASIA TRAILBLAZER OF THE YEAR 2023 (INDIVIDUAL)

KASIKORN LINE

BEST OPEN BANKING INITIATIVE

KASIKORN LINE

MOST DYNAMIC THIRD-PARTY COLLABORATION

MAYBANK (CAMBODIA)

BEST CSR INITIATIVE – CONTRIBUTION TO LOCAL COMMUNITY

MAYBANK (CAMBODIA)

BEST RETAIL BANK - CAMBODIA

MAYBANK INDONESIA

EXCELLENCE IN MOBILE BANKING

MAYBANK MALAYSIA

BEST MOBILE WALLET INITIATIVE

MAYBANK PHILIPPINES

BEST FINTECH PARTNERSHIP

MAYBANK SINGAPORE

EXCELLENCE IN MASS AFFLUENT BANKING

MOBILINK MICROFINANCE BANK

BEST RETAIL BANK – PAKISTAN

MOBILINK MICROFINANCE BANK

EXCELLENCE IN EMPLOYEE RECOGNITION

NGERN TID LOR PUBLIC COMPANY LIMITED

BEST BENEFITS, WELLNESS AND WELL-BEING PROGRAM

RHB BANK

BEST DEBIT CARD INITIATIVE

RHB BANK

BEST MORTGAGE OFFERING

RHB BANK

EXCELLENCE IN SME BANKING

RHB BANK

EXCELLENCE IN LOAN ORIGINATION PROCESS

RIZAL COMMERCIAL BANKING CORPORATION

BEST CSR INITIATIVE – FINANCIAL LITERACY

RIZAL COMMERCIAL BANKING CORPORATION

BEST RETAIL BANK – PHILIPPINES

SECURITY BANK CORPORATION

EXCELLENCE IN EMPLOYEE ENGAGEMENT

SIAM COMMERCIAL BANK

BEST REMITTANCES SERVICE

SIAM COMMERCIAL BANK

BEST RETAIL BANK – THAILAND

STANDARD CHARTED HONG KONG

BEST RETAIL BANK – HONG KONG

STANDARD CHARTERED BANK

BEST ADVANCE IN CUSTOMER RELATIONSHIP MANAGEMENT

STANDARD CHARTERED BANK TAIWAN

BEST APPLICATION OF DATA ANALYTICS

STANDARD CHARTERED BANK TAIWAN

BEST STRATEGIC PARTNERSHIP

STANDARD CHARTERED BANK VIETNAM

BEST RETAIL BANK – VIETNAM

STANDARD CHARTERED GBS

BEST ADVANCE IN MANAGING A REMOTE WORKFORCE

STANDARD CHARTERED GBS

EXCELLENCE IN CLIENT ON-BOARDING

TAIPEI FUBON BANK

BEST ATM AND SELF-SERVICE INNOVATION

TAISHIN INTERNATIONAL BANK

BEST IN-PERSON (OR VIRTUAL) CUSTOMER EVENT

TAISHIN INTERNATIONAL BANK

BEST RETAIL BANK – TAIWAN

TAISHIN INTERNATIONAL BANK

BEST USE OF BIG DATA IN CUSTOMER STRATEGY

TAISHIN INTERNATIONAL BANK

EXCELLENCE IN OMNI-CHANNEL INTEGRATION

THE HONG KONG AND SHANGHAI BANKING CORPORATION

BEST CREDIT CARD INITIATIVE

THE HONG KONG AND SHANGHAI BANKING CORPORATION

BEST MARKETING CAMPAIGN OF THE YEAR

UAB BANK

BEST RETAIL BANK – MYANMAR

UNION BANK OF THE PHILIPPINES

TRAILBLAZING USE OF AI OR MACHINE LEARNING IN FINANCIAL SERVICES

UNION BANK OF THE PHILIPPINES

MOST INNOVATIVE BRANCH OFFERING

UNION BANK OF THE PHILIPPINES

EXCELLENCE IN INTERNET BANKING

UNITED OVERSEAS BANK

ASIA TRAILBLAZER OF THE YEAR 2023 (INSTITUTION)

UNITED OVERSEAS BANK

BEST RETAIL BANK – SINGAPORE

UNITED OVERSEAS BANK (MALAYSIA)

BEST RETAIL BANK – MALAYSIA

ALLIANCE BANK MALAYSIA BERHAD

EXCELLENCE IN SME BANKING

AU SMALL FINANCE BANK

BEST BENEFITS, WELLNESS AND WELL-BEING PROGRAM

AU SMALL FINANCE BANK

BEST SAVINGS PLAN OFFERING

AYUDHYA CAPITAL SERVICES COMPANY LIMITED (KRUNGSRI FIRST CHOICE)

BEST MARKETING CAMPAIGN OF THE YEAR

BANK CTBC INDONESIA

EXCELLENCE IN LOAN ORIGINATION PROCESS

BANK RAKYAT INDONESIA

EXCELLENCE IN MASS AFFLUENT BANKING

CIMB NIAGA

BEST CSR INITIATIVE – CONTRIBUTION TO LOCAL COMMUNITY

CIMB NIAGA

BEST CURRENT ACCOUNT OFFERING

COMMERCIAL BANK OF CEYLON

BEST ADVANCE IN RESPONSIBLE FINANCE

COMMERCIAL BANK OF CEYLON

EXCELLENCE IN INTERNET BANKING

CTBC BANK

BEST ATM AND SELF-SERVICE INNOVATION

CTBC BANK

BEST RETAIL BANK – TAIWAN

CTBC BANK

MOST INNOVATIVE BRANCH OFFERING

E.SUN BANK

BEST CSR INITIATIVE – ENVIRONMENTAL IMPACT

E.SUN BANK

EXCELLENCE IN OMNI-CHANNEL INTEGRATION

HABIB BANK

EXCELLENCE IN EMPLOYEE ENGAGEMENT

KASIKORN LINE

BEST LOAN OFFERING

KASIKORNBANK

BEST MOBILE WALLET INITIATIVE

KASIKORNBANK

BEST RETAIL BANK – THAILAND

LAND & HOUSE BANK

BEST APP FOR CUSTOMER EXPERIENCE

MAYBANK MALAYSIA

BEST ADVANCE IN SUSTAINABILITY PRACTICES

MAYBANK MALAYSIA

BEST CSR INITIATIVE – FINANCIAL LITERACY

PUNJAB NATIONAL BANK

BEST RETAIL BANK – INDIA

RCBC BANKARD SERVICES CORPORATION

BEST CREDIT CARD INITIATIVE

RHB BANK

TRAILBLAZING USE OF AI OR MACHINE LEARNING IN FINANCIAL SERVICES

SIAM COMMERCIAL BANK

BEST MORTGAGE OFFERING

STANDARD CHARTERED BANK VIETNAM

BEST STRATEGIC PARTNERSHIP

TAIPEI FUBON BANK

EXCELLENCE IN CLIENT ON-BOARDING

TAISHIN INTERNATIONAL BANK

BEST ADVANCE IN PAYMENTS

TAISHIN INTERNATIONAL BANK

BEST USE OF TECHNOLOGY IN ADVERTISING / MARKETING STRATEGY

TAISHIN INTERNATIONAL BANK

MOST DYNAMIC THIRD-PARTY COLLABORATION

THE FEDERAL BANK LTD

EXCELLENCE IN MOBILE BANKING

UNION BANK OF THE PHILIPPINES

BEST FINTECH PARTNERSHIP

UNITED OVERSEAS BANK

BEST DEBIT CARD INITIATIVE

UNITED OVERSEAS BANK (SINGAPORE)

BEST APPLICATION OF DATA ANALYTICS

RBI Asia Trailblazer Awards Special Report 2022

An in-depth analysis of winning strategies and the mindsets that drive success inspired by the winning entries for the Retail Banker International Asia Trailblazer Awards.

Download Now

RBI Asia Trailblazer Awards Winners Announcement

Our mission at the Retail Banker International Asia Trailblazers Awards is to recognise and showcase the best in class retail banking and consumer finance companies from across the Asian continent.

And in 2021, while the world continues to recover from and look beyond the impact of the COVID-19 pandemic, the entries summited are a testament to the remarkable efforts and commitment by the regional banking industry to the principles of customer centricity, innovation in product and service offering and ultimately creating meaningful value for their customers,

The awards recognised and celebrated the most impressive and successful initiatives from retail banking and consumer finance companies over the past 12 months across 12 category groups namely:

• Asia Trailblazer of the Year 2021
• Human Capital and Society
• Institutional Awards
• Trailblazers in Artificial Intelligence, Machine Learning and Data Analytics
• Trailblazers in Customer Experience and Segmentation
• Trailblazers in Digital Distribution
• Trailblazers in Digital Payments
• Trailblazers in Marketing & Communication
• Trailblazers in Omnichannel
• Trailblazers in Physical Channels
• Trailblazers in Process Innovation
• Trailblazers in Product Innovation

Click here to view the complete list of 2021 Winners!

By entering the awards, you can expect to:

• Improve employee motivation and partner engagement: awards are a great way to acknowledge the hard work of your employees and recognise your industry partners
• Enhance your brand and drive credibility through third party endorsement: the reputational benefits from independent endorsement of your organisation and service offering are immeasurable. Recognition from trusted industry commentators positively influences customers, partners and employees driving trust and loyalty
• Profile your team favorably: professional exposure for your teams and corporate super-stars supports your institutions position as the home of the best talent as well as the best retail banking solutions
• Benchmark against your industry peers: Awards are the perfect platform to assess your organisations capabilities in a highly competitive market.

For support on the entry process, selecting categories or the entry criteria, please contact Tahne Alisaje tahne.alisaje@meed.com