17 March 2015
Kuala Lumpur: CIMB Group, ASEAN’s leading universal banking group by asset size, was named the Best Bank in Asia Pacific in the IDC Financial Insights Innovation Award (FIIA) for 2015. This is in recognition of the firm’s revolutionary initiatives in becoming a super-regional franchise and technology powerhouse within the region. The announcement was made during the Asian Financial Services (AFS) Congress in Singapore recently.
The Best Bank in Asia/Pacific award category was evaluated based on how well a bank had implemented multiple IT domains in its transformation journey over the past 5 years. According to IDC Financial Insights, CIMB's initiatives have consistently been amongst the most progressive and relevant out of the 400 submissions received since 2011. CIMB, having established itself as a super-regional franchise in the 5-year period has clearly set itself as precedent amongst the financial institutions in a technological and operational standpoint.
Iswaraan Suppiah, Group Chief Information and Operations Officer of CIMB Group commented, “We are honoured to receive this recognition. It’s a testament to the strength of our regional operations and technology platform as we compete in an increasingly borderless landscape in ASEAN. We look forward to replicate similar successes moving forward, providing the best banking technology for our clients and also helping them manage and improve their banking practices.”
Each year, IDC Financial Insights invites banks across Asia Pacific to nominate the initiatives that warrant special recognition in the area of innovation. These initiatives are measured by the FIIA Assessment Panel (made up of Financial Insights worldwide analyst and an independent panel of industry practitioners) with a rigorous set of matrices that look at responsiveness to the market needs, effectiveness of rollout, market take-up and sustainability.