“The sub-custodian banking sector is becoming more strategic and tech-driven, with rising regulatory demands and growing importance in global financial operations, making today’s sub‑custodians indispensable advisers in a complex, interconnected global finance landscape,” said Global Finance founder and editorial director Joseph Giarraputo. “Global Finance’s Best Sub-Custodian Bank Awards recognize the leading institutions that are setting new standards for excellence in sub-custody services.” 

Global Finance’s editorial board considered market research, input from expert sources and entries from banks to select the institutions that reliably provide the best services in local markets and regions. The criteria included customer relations, quality of service, competitive pricing, smooth handling of exception items, technology platforms, post-settlement operations, business continuity plans and knowledge of local regulations and practices. Global Finance also obtained input from users of sub-custody services. Performance was judged over the period covering January 1, 2024 through December 31, 2024.

Fill in the form below to receive the full coverage of the 2025 Best Sub-Custodian Banks when available.

The list of winners of Global Finance’s Best Sub-Custodian Bank 2025 Awards follows.

Regional, Country, Territory & District Awards

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For editorial information, please contact Andrea Fiano, editor, afiano@gfmag.com

Global Finance’s Transaction Banking Awards Ceremony 2025

On the morning of September 30, Global Finance will host its annual Transaction Banking Awards Ceremony at the Melia Frankfurt Hotel during the Sibos conference. Winning organizations will be notified about details in advance of the event.

About Global Finance

Global Finance, founded in 1987, has a circulation of 50,000 and readers in 193 countries and territories. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website — GFMag.com — offers analysis and articles that are the legacy of 38 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.

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To obtain rights to use Global Finance’s Award Logos, please contact Chris Giarraputo at: chris@gfmag.com.

The unauthorized use of Global Finance Logos is strictly prohibited.

Global Finance has released the rankings for its 25th annual Best Treasury & Cash Management Banks awards for 2025. A full report on this exclusive survey will be published in the July/August 2025 print and digital editions as well as online at GFMag.com. 

Global Finance has selected the World’s Best Bank for Transaction Banking and the World’s Best Bank for Cash Management, along with eight other global awards. Winners have also been chosen in 71 countries, territories and districts, as well as regionally across multiple categories in Africa, Asia-Pacific, Central and Eastern Europe, Latin America, the Middle East, North America and Western Europe, and in six US Regions. Global Finance also announced the Best Treasury Management Systems & Services Providers for 2025 in a separate press release available on GFMag.com.

Global Finance used a multi-tiered assessment process—which included entries from banks and providers and input from industry analysts, corporate executives, technology experts and independent research—to select the best providers of treasury and cash management services. A variety of subjective and objective criteria were considered, including: profitability, market share and reach, customer service, competitive pricing, product innovation and the extent to which treasury and cash management providers have successfully differentiated themselves from their competitors around core service provision.

“Driven by digital advancements and demand for visibility, the Treasury and Cash Management sector is rapidly evolving,” said Joseph Giarraputo, founder and editorial director of Global Finance. “Corporations seek integrated platforms with automation and AI, while financial institutions offer innovative solutions for efficiency and transparency. The Treasury and Cash Management Awards recognize those excelling in this changing landscape.”

Register your interest here and receive the full reporting when available:

The list of Global Finance’s World’s Best Treasury & Cash Management Banks for 2025 follows.

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For editorial information, please contact Andrea Fiano, editor, afiano@gfmag.com

Global Finance’s Transaction Banking Awards Ceremony 2025

On the morning of September 30, Global Finance will host its annual Transaction Banking Awards Ceremony at the Melia Frankfurt Hotel during the Sibos conference. Winning organizations will be notified about details in advance of the event.

About Global Finance

Global Finance, founded in 1987, has a circulation of 50,000 and readers in 193 countries and territories. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website — GFMag.com — offers analysis and articles that are the legacy of 38 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.

Logo Use Rights

To obtain rights to use Global Finance’s Award Logos, please contact Chris Giarraputo at: chris@gfmag.com.

The unauthorized use of Global Finance Logos is strictly prohibited.

Global Finance has released the results for the 2025 World’s Best Treasury & Cash Management Systems and Services Awards. This program is part of the 25th annual World’s Best Treasury & Cash Management  Providers awards, and a full report on the entire survey will be published in the July/August 2025 print and digital editions and online at GFMag.com. 

Global Finance used a multi-tiered assessment process—which included entries from banks and providers and input from industry analysts, corporate executives, technology experts and independent research—to select the treasury & cash management systems and services. A variety of subjective and objective criteria were considered, including profitability, market share and reach, customer service, competitive pricing, product innovation and the extent to which organizations have successfully differentiated themselves from their competitors around core service provision.

“Driven by digital advancements and demand for visibility, the Treasury and Cash Management sector is rapidly evolving,” said Joseph Giarraputo, founder and editorial director of Global Finance. “Corporations seek integrated platforms with automation and AI, while financial institutions offer innovative solutions for efficiency and transparency. The Treasury and Cash Management Awards recognize those excelling in this changing landscape.”

Sign up here to get the full reporting when available.

The list of Global Finance’s World’s Best Treasury & Cash Management Systems & Services Awards 2025 follows.

###

For editorial information, please contact Andrea Fiano, editor, afiano@gfmag.com

Global Finance’s Transaction Banking Awards Ceremony 2025

On the morning of September 30, Global Finance will host its annual Transaction Banking Awards Ceremony at the Melia Frankfurt Hotel during the Sibos conference. Winning organizations will be notified about details in advance of the event.

About Global Finance

Global Finance, founded in 1987, has a circulation of 50,000 and readers in 193 countries and territories. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website — GFMag.com — offers analysis and articles that are the legacy of 38 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.

Logo Use Rights

To obtain rights to use Global Finance’s Award Logos, please contact Chris Giarraputo at: chris@gfmag.com.

The unauthorized use of Global Finance Logos is strictly prohibited.

Wells Fargo Estate Care Center

In 2018, Wells Fargo created its Estate Care Center to help families manage estate settlements. But the bank encountered technical difficulties as its various product divisions, including deposit accounts and investment funds, operated on separate computer systems. To address this, Wells Fargo partnered with Pegasystems, a business-process management firm based near Boston. Pegasystems’ Pega technology connected the Estate Care Center with the bank’s other computer systems.

Wells Fargo utilizes Pega for case management, enabling the bank to monitor customer interactions across different products, which relieves bereaved families from having to repeatedly provide information. Pega also allows the bank to be more proactive at contacting customers to promote estate planning and beneficiary updates.

Wells Fargo is now exploring the potential of AI to serve as a knowledge resource for agents, enhancing their ability to provide empathetic estate care services rather than replacing human interaction.

Most Innovative Bank in Africa | NEDBANK MOZAMBIQUE

In an effort to modernize operations, Nedbank Mozambique has implemented innovative digital solutions to strengthen its services and processes. Customers can use various functions across digital channels to easily transfer funds to mobile wallets or cash from prepaid cards to Nedbank accounts. NedChat is an organizational chatbot that uses artificial intelligence (AI) to provide employees with real-time access to knowledge about bank products, services, standards, and polices, to help streamline workflows and boost productivity.

The bank has also taken a proactive approach to risk management by implementing NedCreditAnalysis, a tool that uses Gen AI to extract and analyze relevant information from financial documents for credit decisions in various products. To strengthen the bank’s cybersecurity, it implemented a mechanism that binds each of a customer’s accounts to a specific device through a unique identifier. This has helped to prevent unauthorized access to customer accounts as well as to prevent identity theft. 

Most Innovative Financial Technology Company in Africa | MNT – HALAN

MNT-Halan has been transforming access to financial services for African consumers and businesses. With over 2.4 million active users quarterly, this digital platform serves segments often overlooked by traditional financial institutions. The Halan app started as a ride-hailing service and was transformed into a lending platform that uses automation to underwrite and originate loans tailored to customers. Neuron is a proprietary API first core banking software that powers the Halan product ecosystem. This API enables the company to seamlessly and securely connect with digital banking services that support streamlined processes and optimize the user experience.

Through Neuron, users, merchants, loan agents, and MNT-Halan branches are connected across an easy-to-use network to transact with millions of customers in multiple currencies. This technology supports over 11 million customers, 54% of whom are women; and it has helped MNT-Halan drive financial inclusion in Egypt by providing costeffective solutions to unbanked customers.

Iogate | ABSA

Supporting its effort to digitize the paper-intensive trade finance business, Absa’s Iogate API allows the bank to connect to third-party fintechs while protecting data easily and seamlessly. The solution is helping Absa pivot to new technologies as the market evolves, without disrupting existing workflows. The API leverages cutting-edge orchestration to ensure a faster, more cost-efficient trade solution and equips customers and the bank with a future-proof infrastructure. By integrating with an assortment of fintechs, Iogate promotes personalization through a customized suite of products and services that help clients meet their unique goals.

SMART TPE| BANQUE SAHELO-SAHARIENNE POUR L’INVESTISSEMENT ET LE COMMERCE (BSIC SENEGAL)

BSIC Sénégal offers merchants an additional customer payment method through SMART TPE, a technology that facilitates contactless mobile payments via a bank card or digital wallet while using electronic payment terminals. The new payment system gives merchants more ways to accept customer payments and allows them to transfer the funds directly to their BSIC bank accounts, shortening the interval before they can access these funds. SMART TPE allows customers in turn to use their digital wallets to pay for goods and services from merchants, improving the customer experience.

First-Ever Sectoral Funds in the Egyptian Market | BELTONE ASSET MANAGEMENT

With limited options for sector investing on the Egyptian Exchange (EGX), retail investors previously could not easily take advantage of sector performance that can change with economic conditions. Instead, they invested in individual companies or in funds targeting a broader index. To address the demand for more strategic investments opportunities, Beltone Asset Management developed four sector funds (Beltone Real Estate Fund, Beltone Financial Fund, Beltone Consumer Fund, and Beltone Industrial Fund) that reflect real-time sector trends. The firm has also forged alliances with fintechs to provide clients with broader access to its funds on various platforms.

Digital Account Opening | IIB WEST AFRICA

Opening a bank account in the Republic of Cabo Verde is a time-consuming, complex operation that requires customers to fill out forms and complete multiple steps in person at a bank branch. iibCV launched a digital platform that allows customers to open accounts online. By leveraging technologies that authenticate and integrate with automatic verification systems, the platform simplifies the process, saving time for both customers and the bank. The new platform is compliant with the bank’s standards as well as associated regulations and legislation.

La Cagnotte by SoGe | SOCIETE GENERALE MAROC

To help Moroccans manage savings simply and securely, Societe Generale Maroc introduced SoGé cagnotte, a budget management solution integrated into its digital banking app, SoGé. The app boasts an enhanced customer experience offering an assortment of tools to promote financial inclusion and help boost Moroccans’ purchasing power. SoGé cagnotte digitizes the concept of the piggy bank, enabling customers to work toward their financial goals by creating up to five savings goals, each personalized by name, savings amount, and date.

Robin Hood Unclaimed Benefits Solution, Powered by Standard Bank | STANDARD BANK

In South Africa, over R90 billion (about $4.95 billion) of unclaimed assets are due to over 8 million residents, with 6% of assets paid annually as more are added. Finding the beneficiaries is the problem. Robin Hood, a fintech, has developed an innovative solution using AI to match beneficiaries with their unclaimed assets. Standard Bank partnered with Robin Hood and supports the AI solution through its OneHub platform. Starting with a dividend book and pension book worth a combined R1 billion, more than R10 million thus far have been returned to over 6,000 beneficiaries. 

Most Innovative Bank in Asia-Pacific| TAIPEI FUBON BANK

In 2024, the Taiwan bank introduced IntelliChat, a chatbot enabled by Gen AI, designed to handle customer-service queries. It has improved the retail-user experience at the bank by reducing previously long wait times for account information. Waiting to speak with a specialist or chatbot took an average of 27 seconds before implementation, compared with 20 seconds after implementation. At the same time, call volume increased from 176 calls per day to 208 calls per day.

AI is also being used to sharpen the bank’s marketing efforts. LeikaAI, an in-house solution that optimizes marketing-audience selection, has replaced manual marketing processes based on structured query language. It can generate precise customer segments in 20 minutes that would have required three or four days to complete earlier.

Meanwhile, the bank introduced a new version of its mobile banking app that integrates banking, securities, property insurance, and life insurance services. Using predictive modeling, the app is also able to personalize recommendations for customers.

Most Innovative Financial Technology Company in Asia-Pacific | KASIKORN BUSINESS-TECHNOLOGY GROUP

A depository institution’s core banking system is its backbone—the back-end information-technology system that processes daily banking transactions and updates financial accounts and records.

Thailand’s Kasikornbank, also known as KBank, set before itself a daunting task: Create an entirely new core banking system without impacting the continued working of the incumbent system. More than 2,000 applications and interfaces would be affected during the process.

The new system was developed by KBank’s technology arm, KBTG, and went live in October 2024 after 22 months of work involving 1,000 employees. It has increased KBank’s transaction capacity by 50% and now supports up to 60 million customer accounts.

Mobile banking transactions at KBank have surged in recent years, necessitating the upgrade. K PLUS, one of the bank’s mobile apps, already has 23 million users and accounts for 30% of all financial transactions in Thailand.

Intelligent Risk Prevention Solution Based on Collateral Management| CHINA CENTRAL DEPOSITORY & CLEARING

Implemented last year, CCDC’s risk prevention solution uses high-tech algorithms to automate and optimize collateral management within China’s bond market, the world’s second largest. It does so by applying robotic process automation and optical character recognition technologies to previously manual processes.

The risk prevention tool has improved operational efficiency by approximately 50%, according to CCDC, while reducing human error risks and improving resource allocation. CCDC clients can now use up to 20.9% of their holding assets as collateral, a high percentage for any platform.

AI-Powered Green Fintech for Sustainable Financing Business| CTBC BANK

Launched last November, this Scope 3 emission management solution from Taiwan’s CTBC Bank addresses the challenges facing financial institutions seeking to manage (Scope 3) greenhouse gas emissions. Partnering with Evercomm, a provider of digital sustainability solutions, the platform enables banks to measure the carbon impact of their financing decisions and track their sustainability targets.

Based on the Monetary Authority of Singapore’s AI in Green Fintech initiative, the platform uses publicly available ESG information and high-tech robotic process automation tools to extract the necessary emissions data.

Customer Service Officer (CSO) Assistant| DBS

DBS, a leader in innovation, uses AI to free its customer service officers from some of their most operationally taxing chores. The automated CSO Assistant transcribes and summarizes live customer calls and includes an email triaging tool that has already prioritized more than 48,000 offline messages.

Launched last August, CSO Assistant has improved the effectiveness of some 1,000 CSOs across Singapore, Taiwan, Hong Kong, and India, according to DBS, reducing the average time required to handle a single call by at least 5% while capturing conversations with customers more accurately.

Transforming Payment Process with Tokenization| OCBC

OCBC partnered with the Land Transport Authority of Singapore (LTA) last November to implement a blockchainbased solution for disbursing advance payments to LTA’s contractors. These can amount to millions of dollars and are critical to defraying contractors’ heavy upfront capital outlays.

Payments by LTA are now disbursed automatically almost immediately, once the blockchain’s smart contracts have verified that agreed-upon conditions have been met. Payments are also more transparent, secure, and traceable, for payer and payee alike. To date, over $22 million has been disbursed to LTA’s main and sub-contractors. 

Most Innovative Bank in Central and Eastern Europe| AKTIF INVESTMENT BANK

Aktif Investment Bank, Turkey’s largest privately owned inves tment bank, has applied AI to boost internal bank processes. In early 2025, the bank launched an AI-driven digital interview system that integrates realtime lip synchronization and natural conversation using ChatGPT. Lip synchronization makes the AI interviewer appear more lifelike and engaging.

The new platform reduces the high cost of traditional interviews by automating the screening process and minimizing the need for human intervention in the early stages of the recruitment process. It’s multilingual, too, allowing candidates to interview in their native language.

The bank has also implemented AI to detect fatigue among its call-center employees. Undetected worker burnout is a problem that plagues many call centers; and this new system utilizes deep learning for real-time facial-movement analysis—assessing microexpressions, smile frequency, and facial tension in real time. Managers can then take fast corrective actions.

Most Innovative Financial Technology Company in Central and Eastern Europe| INPOST PAY

Poland’s InPost Pay has developed an online app that streamlines customers’ online shopping experience by combining payments and deliveries on a single unified platform. Once customers register with InPost Pay, they can shop at multiple online stores without logging in at each store. They don’t have to select a payment option and a means of delivery each time either, because those preferences are saved within the system. Customers can edit their shopping cart purchases at their leisure too.

Studies have shown that 60% to 70% of online shopping carts are abandoned by consumers—a pain point for merchants and consumers.

InPost Pay claims to have lowered that rate substantially. InPost Pay acquired 3 million users in the first six months after the solution’s 2024 launch. The company expects to expand the service beyond Poland soon. 

Your Everyday Financial Companion Akbank Mobil: For You| AKBANK

In January, Turkey’s Akbank launched a revamped version of its mobile banking app with a new multi-dimensional ecosystem that integrates lifestyle elements, personalized insights, and partner-based capabilities. Utilizing AI, the app provides leads and insights in a range of areas including travel planning and household budgeting. Since the revamp, the app has had 4.8 million unique visitors, 214,700 of whom have become mobile active for the first time. Akbank reports that its gross profits have ballooned since the launch.

CSOB Mortgage with Digital Signature and Mortgage Zone| CSOB

CSOB has boosted its mortgage activity by applying an emerging technology to a local problem. Beginning in March, advanced electronic signature technology enables customers to sign mortgage and collateral agreements, completing a range of mortgage processes, without entering a bank branch.

The new tool saves significant time for mortgage applicants, too, because they no longer must deal separately with the Czech Republic’s land registry office. Everything can be done by mobile phone or on a home computer. More than one-third of CSOB’s mortgage activity is now completed using a qualified electronic signature.

Next-Generation Fraud Detection and Prevention System| KAPITAL BANK

Kapital Bank last year became Azerbaijan’s first financial institution to integrate advanced real-time monitoring and multi-layered cyber defense mechanisms for fraud prevention.

The new system applies 54 distinct prevention controls aligned with global standards for information security management systems. A 24/7 monitoring mechanism blocks attempted fraudulent actions before they can occur, shielding Kapital Bank’s 5 million-plus customers. Last year, the system thwarted 198,734 fraudulent transactions, double the previous year’s total, the bank reported.

Bancassurance| MAIB

MAIB last year became the Republic of Moldova’s first bank to fully integrate digital insurance with its bank offerings. Retail bank customers can now purchase credit protection insurance to cover loan installment payments in case of illness or job loss.

The entire process, from loan agreement to compensation, can be handled directly on the maibank mobile app, including vehicle and travel insurance coverage. MAIB worked with Donaris Vienna Insurance Group to make these sometimescomplex insurance products more understandable and accessible for bank customers.

RBI’s New Cash Management Digital Ecosystem| RBI

RBI has been a regional leader in adopting faster, more secure processes for electronic bank account management. Its new cash management system provides real-time updates and streamlined data reconciliation as first steps enroute to fully digitized management of all bank accounts.

RBI has also accelerated onboarding for its large international customers, including the New Yorker fashion chain, by bundling centralized treasury capabilities, plug-and-play API integration in SAP software solutions, and convenient account management.

Enhancing Slovak Call Center Customer Service with Fine-Tuned Whisper Model| TATRA BANKA

Tatra banka, a serial innovator, has developed a new customized speech-to-text model for transcribing call-center recordings. Developed by the Slovakia-based bank’s advanced analytics department, the service leverages generative AI and was fine-tuned on the bank’s own internal speech data.

Tatra banka’s aim was to extract information, dates, and account amounts. The system automatically records who called, the date, and reason for the call, as well as the size of the caller’s bank account(s). The model also analyzes text transcriptions to gain insights into customer concerns using Whisper, an open-source automatic speech recognition system the bank customized for its own speech-to-text needs.

Most Innovative Bank in Latin America| BANCO BRADESCO

Banco Bradesco has incorporated innovative Gen AI applications into its operations to modernize services and processes. By using AI to extract and quantify information from investment reports, the bank can tailor analyses to meet the needs of institutional clients.

The Bridge platform integrates services to optimize banking applications from different business areas, eliminating the need for subject-matter expertise. The IdeIA solution reads customer-service emails and automates previously manual processes to respond quicker to customers. By simplifying processes, the bank is able to improve the user experience for its customers. Horizon uses customer data to generate commercial insights to better understand customer needs and behaviors; thus, it can simplify decisionmaking. Athena solves the problem of manually documenting calls and chats by using AI to transcribe and compile these. These are only a few of the innovations within the bank that have improved efficiency and saved time. 

Best-in-Class Payroll Onboarding Process| BANAMEX

To eliminate manual tasks, data errors, and cumbersome processes, Banamex introduced Remote Account Opening Payroll, which connects employees with their employers through a fully digital self-service onboarding process. Employers can onboard employees for payment processes through the e-banking portal, which saves time by digitizing the interaction between employees and their employer’s new human resources department. Employees no longer need to provide personal information and bank account numbers to their employers by email or paper. Instead, they can open a Banamex account that has features similar to a checking account and securely validate their identity using biometrics.

Analysis of Accounting Statements| BANCO CENTRAL DO BRASIL

Every year, the financial institutions supervised by Brazil’s central bank issue accounting reports that are used to verify their compliance with regulations. These reports are not standardized and extracting the relevant information can take weeks and many employee hours. The central bank’s new internal tool uses a large language model and AI to simultaneously analyze some 1,800 accounting statements in approximately 20 minutes to determine whether the supervised entities are in compliance. The tool is calibrated to eliminate bias so that the extracted information yields more accurate results.

Cuscatlan New App| BANCO CUSCATLAN

Customers using the Cuscatlan New App can customize their home screens to view particular products and services. Thanks to enhanced security and privacy settings, they can also specify which accounts and balances they want displayed on their home screen and easily access key functions like cardless cash withdrawal with only a few clicks, making the new app more intuitive than competitors’. It also addresses customers’ pain points and cumbersome processes to streamline how they can access products and services through a more intuitive, personalized banking experience, the banks says.

SAM (Servicio de Atencion Movil)| BANCO DEL PAIS (BANPAIS)

To promote financial inclusion in Honduras, Banco del País introduced SAM, an AI-powered chatbot providing a more personalized and interactive means for clients to self-service their routine banking needs. This virtual assistant is a customer’s first point of contact and addresses questions over social media. Customers can access SAM 24/7 from WhatsApp or Facebook Messenger along with other in-country social platforms to perform such operations as transaction inquiries, credit card balance checks and activation, and safety blocks and answer more than 80 frequently asked questions.

ARI – Generative AI to Support Micro and Small Businesses| BANCO DO BRASIL

Aiming to better understand the needs of entrepreneurs and the opportunities they seek, Banco do Brasil launched ARI, an AI-driven alternative to conventional banking consultancy models. The technology uses a generative AI conversation assistant in Microsoft Teams, analyzing raw financial data to produce personalized insights for Brazilian micro and small businesses. ARI simplifies complex financial processes for entrepreneurs, saving them time and resources, and generates insights into customer behavior and performance and growth opportunities, enabling entrepreneurs to make better informed strategic decisions.

Rural Banking| BANCOLOMBIA

Bancolombia is addressing financial inclusion in rural communities with a territory-based intervention model rather than a product-centric approach. Using localized financial solutions, technology-enabled access, a financial literacy program, a stronger entrepreneurial ecosystem, and networks that empower women, the bank has simplified financial processes and improved accessibility to foster sustainable economic development. Multiple areas of the bank are collaborating to solve the problem of financial inclusion, including a Rural Innovation Lab that identifies systemic challenges, experiments with new financial solutions, and codesigns interventions with local communities. The bank is also working with the Bancolombia Foundation to incubate and scale social impact projects.

Automation| BANCO W

App Abogados W leverages low-code and no-code technology to improve debt collection for the customer, resulting in a 94% increase in operational efficiency for Colombia’s Banco W. Developed by the bank’s WLab in partnership with Universidad Icesi, the app has reduced payment agreement processing time from 15 days to less than 24 hours; with improved customer experience, this has netted the bank a 400% increase in agreements. By reducing costs, the app has allowed Banco W to reallocate resources to other strategic tasks.

Improvements in the Negotiation of Early Credit Card Delinquencies in Collection Telephone Calls| BBVA

BBVA is transforming its debt collection process by applying insights from behavioral economics to collection calls for early credit card defaults. The change addresses customers’ emotional and cognitive barriers when dealing with debt and relies on customer responses to legal and financial incentives. The new approach helps the bank make interventions at an early stage of delinquency, helping prevent debt loads from becoming unmanageable. Advisors guide conversations with negotiation accelerator cards based on behavioral economics and tailored to the individual customer’s psychology. The result has been an increase in recovered balances and customers getting better control of their finances.

BTG AI Banker Agent| BTG PACTUAL

BTG AI Banker Agent gives individuals access to a private banker for their customer service, personal finance management, and investment advisory needs. Utilizing generative AI and deep learning models, this tool includes a daily banker that acts as a personal financial assistant; a foundational customer model that leverages transactional data, behavioral insight, and risk profiles; a research assistant that analyzes the customer’s assets, macroeconomics, and financial news; a customer service assistant; and an investment advisor that recommends optimized investment portfolios to help customers meet their goals. 

Most Innovative Bank in Middle East| ARAB BANK

Acabes, Arab Bank’s in-house development factory, enabled the bank to launch an updated version of its Reflect banking app in 2024. Reflect benefits from a host of new digital features, including multicurrency subaccounts for deposits, savings, and payments. Customers can also use Salary Transfer and instant transfer features with these currencies. Arabi Shopix, another Acabes product, is an e-commerce website creation service.

Acabes empowered Omnify, Arab Bank’s embedded finance and open-banking platform, toward its official launch, leading to Omnify signing and/or going live with third-party providers. Omnify has solidified its position as the region’s leading one-stop shop for embedded finance and open banking, preparing for the next era of banking as a service. Partnerships with key innovators like MoXey and Menaitech have improved the platform and let partners quickly develop custom financial solutions.

Most Innovative Financial Technology Company in Middle East | GEIDEA

The first payment provider in the Middle East and North Africa region to offer instant merchant onboarding, Geidea enables businesses to start accepting payments within minutes, thanks to substantial investments in automation, AI, and digital verification.

Geidea’s instant onboarding solution is particularly significant due to the rapid growth of digital-payment adoption across the region and the increasing number of microenterprises entering the formal economy. By facilitating quick onboarding for businesses of all sizes, Geidea supports scalable growth.

Furthermore, Geidea has set a new benchmark for innovation by becoming the first fintech in the region to develop and launch its own proprietary point-of-sale terminal. This establishes a new standard for flexibility, security, and technological integration in payments. By eliminating reliance on thirdparty hardware manufacturers, Geidea has disrupted traditional payment solutions and introduced a model that empowers businesses with unprecedented control and customization.

Cash Management Forecasting in ATMs Project | BANK MUSCAT

Oman’s Bank Muscat became the first Middle East bank to leverage AI and machine learning for predictive analytics in cash management, creating an efficient, non-manual ATM cash forecasting and replenishment process. By analyzing historical data for cash withdrawals and deposits along with external factors like seasonality and local events, the new forecasting system ensures optimal cash levels at ATMs, solving the problem of cash outs, which can be an annoyance for customers, and minimizing idle cash in the ATM, which is not ideal for the bank.

Musaed – Elevating Conversational Banking | BOUBYAN BANK

Boubyan Bank’s chatbot, Musaed—”helper” in Arabic—has undergone a series of recent enhancements. One such, Boubyan Playback, provides customers with a personalized “Year in Review” of their interactions with the bank, encouraging high customer engagement. Additionally, Boubyan has become the first bank in Kuwait to offer AI-powered recruitment assistance through Musaed’s Job Interview Service. During Boubyan’s internal job fair, Musaed streamlined the interviewing and hiring process by facilitating over 1,000 CV submissions and aiding HR in efficiently identifying potential candidates.

AI-powered Reconciliation Platform | BANQUE SAUDI FRANSI

In February, BSF partnered with Deben, a Saudi SaaS platform that automates cash flow management and generates instant reports for financial managers, to launch an innovative AI-powered reconciliation platform. As the first of its kind in both the kingdom and the region, the platform uses AI to deliver intelligent reconciliation, forecasting, anomaly detection, and real-time financial insights. Businesses can customize transaction categorization to meet their specific needs and automation streamlines processes for increased efficiency, cost savings, and an enhanced user experience.

FABeAccess Electronic Direct Debit (eDDS) API Suite| FIRST ABU DHABI BANK (FAB)

FAB’s eDDS API Suite is transforming the way businesses manage their receivables. The solution offers real-time, secure, automated collection processes while ensuring regulatory compliance. eDDS API Suite streamlines collections for billers and enhances convenience for payers through features including mandate registration, cancellation, collection requests, realtime status updates, and pre-collection reports. By eliminating manual processes and reducing administrative costs, businesses gain end-to-end visibility over their receivables. As the first API-driven electronic direct debit solution in the United Arab Emirates, eDDS API provides scalability, seamless integration with ERP systems, and a customer-centric approach.

PULSE Mobile App| MASHREQ

PULSE Mobile, a pioneering corporate banking app in the Middle East, provides relationship managers with a comprehensive, 360-degree view of client information. The innovative tool enables instant access to critical client data, transaction approvals, and call report submissions, directly from mobile devices. Additionally, the app’s news alerts feature ensures that relationship managers stay informed of key industry events, enabling them to proactively manage their portfolios and respond to market changes in real time.

QIC App| QATAR INSURANCE CO.

he QIC App is Qatar’s premier comprehensive mobile platform, delivering an array of services tailored for motorists and vehicle proprietors over a platform set up to streamline their daily routines and enhance road safety. By integrating both insurance and auxiliary non-insurance offerings, the QIC App addresses a critical issue: the disjointed and protracted procedures associated with overseeing diverse automotive requirements. Concurrently, QIC Reads operates as Qatar’s exclusive digital repository dedicated to insurance education, aiming to foster a robust culture of insurance awareness and simplify the understanding of everyday insurance needs in Qatar.

Fawran Corporate| QATAR ISLAMIC BANK

Qatar’s first Sharia-compliant, real-time corporate payment service, Fawran Corporate launched last November. The service allows instant transactions, including payroll, supplier payments, and intercompany transfers, improving liquidity and streamlining operations. Adherence to Sharia principles fosters trust and expands the service’s reach within the Islamic finance sector. Fawran Corporate marks a major milestone in Qatar’s financial development, promoting innovation, efficiency, and inclusivity.

RAK Telemetry (Real Time Dashboard)| RAKBANK

RAK Telemetry, a groundbreaking suite of 32 real-time and near real-time dashboards, offers a centralized platform to track and monitor essential business processes, integrating key data points and metrics to provide a comprehensive overview of onboarding journeys, service requests, transactions, and IT tickets status. By eliminating the need for multiple, disjointed tracking systems and manual data correlation, RAK Telemetry streamlines operations, enhances decision-making, and boosts overall efficiency. Businesses can leverage the tool to gain valuable insights into customer behavior, market trends, and operational performance, enabling them to respond swiftly to changing conditions and optimize their strategies.

Most Innovative Bank in North America | BANK OF AMERICA

Bank of America’s (BofA’s) dedication to improving customer experience is evident in the 12% increase in digital interactions by clients last year, reaching a recordbreaking 26 billion interactions. Corporate clients made over $1 trillion in payment approvals on the bank’s CashPro app in 2024—a 25% increase year on year.

Notable CashPro Data Intelligence innovations include CashPro Search with Investigations—the first comprehensive search-and-investigation tool across transaction types. Another innovation is CashPro Capital Markets Insights, which is the first integrated capital markets experience available in a treasury mobile app, offering access to investment-grade secondary bond pricing alongside treasury information.

The bank also launched Virtual Payables Direct, an innovative solution that combines BofA’s card-issuance, merchant-acquisition, and payment capabilities. For the first time, buyers can benefit from the working capital advantages of a card transaction while paying suppliers who prefer direct bank transfers: Payments begin as card transactions but are delivered to suppliers as bank transfers, ensuring that suppliers get paid quickly while buyers benefit from extended payment terms.

Most Innovative Financial Technology Company in North America | BATTERY FINANCE

In November 2024, Battery Finance executed a pioneering financial transaction by establishing a bitcoin reserve with shared appreciation benefits for both borrower and lender. This innovative approach was integrated into the collateral package for the refinancing of Project Bank Street Court, a seasoned multifamily mixed-use asset located in Center City, Philadelphia.

This groundbreaking transaction effectively enabled borrowers to leverage Bitcoin as collateral for loans. The structure of the deal was unique in its dual-collateralized nature—by combining Bitcoin with traditionally financeable assets, Battery Finance offered borrowers uncorrelated downside protection and enhanced the overall collateral package. This novel approach to collateralization mitigated risks associated with the volatility of Bitcoin while still allowing borrowers to capitalize on its potential for appreciation. 

Lumi Assistant | BMO

BMO uses an employee-assisting Gen AI solution, incorporating Amazon Web Services and Anthropic’s large language model, to read, interpret, and summarize complex documents including policies, procedures, operating manuals, and regulatory documents in a user-friendly format. Launched in March to support 200 employees, Lumi Assistant was expanded in April to support some 8,500 Canadian front-line bank employees. By the end of this year, BMO plans to make the solution available to over 14,600 Canadian personal and business banking employees.

Virtual Account Based Solutions (VABS) | BNY

In January, BNY launched VABS, a cash management solution that promises to provide clients with improved control and access to cash administration activities and reporting capabilities. VABS is one of the first cash management systems to offer instant access to robust, real-time transaction and balance reporting at the individual virtual account level and ACH allocations at the virtual account level. Virtual accounts can be linked to physical accounts within BNY and payments are reflected in real time.

Tokenization of the 1708 Stradivarius Violin, “Empress Caterina” | GALAXY DIGITAL

Galaxy Digital’s groundbreaking tokenization of the 1708 Stradivarius violin “Empress Caterina” last year established a new paradigm for high-value collectibles in the digital financial landscape. By enabling on-chain ownership tracking, the NFT ensures an immutable record while unlocking the potential for decentralized finance backed by real-world assets.

Asset Tokenization Studio| HEDERA

Hedera’s Asset Tokenization Studio, launched last September, is an open-source toolkit that streamlines the tokenization of bonds and equities. By integrating ownership records, compliance features, document management, and notifications directly on-ledger, it eliminates the need for off-chain data management, thereby reducing operational risk. The end-to-end solution improves upon the ERC-1400 standard, enabling full lifecycle management of tokenized assets.

TPRM Accounting Fintech, aka Sustainability Accounting Fintech (SAF)| LELE-HCM

SAF uses AI to enhance financial analysis and risk management via two platforms: Fintech V1 and Fintech V2. V1 generates reports for banks and third parties, helping to calculate risk-weighted assets. V2 allows for continuous monitoring and control, facilitating on-balance-sheet netting. Basel III regulations have shifted focus from the internal ratings-based approach to standardized methods for recognizing credit risk mitigation, a shift supported by SAF’s platforms.

Zenus Embedded Banking| ZENUS BANK

Last November, the Puerto Rico-based digital bank launched a first-of-its-kind, fully embedded banking platform. The API-driven solution enables other financial institutions around the world to set up dedicated US dollar accounts, process international payments, and offer cross-border Visa card issuance.