[By NBC-1TV H. J Yook]BAI and Infosys today bestowed the most innovative banks in the world with the prestigious 2012 BAI - Finacle Global Banking Innovation Awards. Now in its second year, the global awards program recognizes and supports innovation in the retail banking industry. This year's honorees were recognized at a special ceremony today at BAI Retail Delivery 2012 in Washington, D.C.

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. The award winners were selected by the Innovation Circle Judging Panel, an objective, third-party board. This distinguished international group is composed of prominent industry thought-leaders, academics and retail banking professionals.

· OCBC Bank, located in Singapore, earned the Product and Service Innovation Award for FRANK, a radical approach to addressing Generation Y's different style of connecting and engaging with financial institutions. FRANK branches -- or “stores” -- are designed to specifically serve this group of young people aged 18 - 28, through being conveniently and strategically located in campuses and malls, the use of understandable language on signage and documentation, and through a casual atmosphere where popular music is played, and where interactive touch screens allow customers to shop and apply for their personalized FRANK debit or credit card. Overall, FRANK allows OCBC Bank to develop lifetime, personalized relationships with these consumers by meeting their needs early on.

· The award for Channel Innovation was won by DenizBank, located in Turkey, for introducing the ‘Globally First Ever’ Banking Platform on Facebook. With full online banking functionality, the platform enables Facebook users to check their bank account, see a total picture of assets and liabilities, send money to anyone, anytime, purchase/enroll in consumer loans and credit cards, and invite Facebook friends to use the platform, among other capabilities.

· Alior Bank, located in Poland, received the Disruptive Innovation in Banking Award for changing the banking services market in its country. Alior Sync is a progressive, virtual bank that offers full-service banking via a virtual platform with a contemporary means of communication for its target segment, customers between the ages of 20 to 35. The innovative model of operations eases the facilitation of processes involved in offerings and sales of products and services, such as a fully online credit process -- a first in Poland.

· The Most Innovative Bank of the Year Award was awarded to First National Bank, a Division of FirstRand Limited, located in South Africa, to honor its culture of innovation and advancement of retail banking. 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. Business units within FNB are empowered to innovate through leadership buy-in and advocacy.

Debbie Bianucci, President and CEO of BAI, congratulated the award winners for their creativity and excellence. “These banks serve as a model of what can be achieved through innovation when it comes to enhancing the customer experience and transforming our industry. Their commitment and leadership set new standards for us, and we honor them for their achievement. We look forward to seeing what future innovations will come from the finalists and winners here today as well as other banks around the world.”