Gartner, Inc. has announced the winners of the 2018 Gartner Eye on Innovation Award for financial services in Asia Pacific. The award recognizes innovative use of digital technology-enabled capabilities, products or services to highlight “best-in-class” financial industry initiatives launched within the past 12 months and to offer insight about developments in digital innovation.
The finalists presented their case studies during Gartner Symposium/ITxpo, which is taking place here through Thursday and Ping An Property & Casualty Insurance Company Of China, Ltd (China) was selected as the regional 2018 Gartner Eye on Innovation Award Asia Pacific winner by the attendees at the event. Commonwealth Bank of Australia (Australia) and Taishin International Bank Co., Ltd (Taiwan) were also named as award recipients.
Ping An Property & Casualty Insurance Company Of China, Ltd (China) – The insurance provider introduced its “Smart Fast Claim” artificial intelligence platform for loss assessment and risk management in the Chinese car insurance market. Using image recognition and deep learning technology, “Smart Fast Claim” can identify all types of cars and their outer parts; offer precise repair pricing for customers in real-time; and detect fraud during or after a claim.
Additional Award Recipients:
Commonwealth Bank of Australia (Australia) – The Commonwealth Bank launched Ceba – a virtual assistant for banking, powered by conversational artificial intelligence – in January 2018 to bridge the changing needs of its customers with an engaging and seamless omnichannel service experience. Ceba assists customers with more than 200 banking tasks such as activating their card, checking account balance, making payments or getting cardless cash.
Taishin International Bank Co., Ltd (Taiwan) – Taishin Bank developed Richart, a complete digital experience with financial services provided through an app, with competitive, innovative and integrated products that are easily accessible by smartphone and laptop. The Richart platform develops itself as an open bank, providing customers with innovative financial services together with partners from different industries, such as telecommunications providers, fintech startups and insurance companies.
Axis Bank (India) – Axis Bank implemented an innovative speech analytics tool in its contact center to improve operations. The tool transforms recorded customer interactions from idle data into actionable intelligence, helping identify customer patterns and sentimental behavior. The tool can also identify scope for new opportunities and support instant escalation management.
CTBC Bank (Taiwan) – CTBC Bank developed an Intelligent Speech Processing Platform (ISPP) as part of its digital transformation to machine-listening intelligence. The ISPP is the core platform to develop machine-listening apps that focus on speech data processing and analysis to realize intelligent speech inspection. The platform improves speech quality inspection coverage, extracts customer insights from speech records and optimizes the user experience.
DBS Bank (Singapore) – DBS launched its Operations Transformation Programme (OTP), an experiential programme based on solving the challenges associated with transitioning to a digital bank. The OTP is a simulation-led program designed to inspire managers, align their mindset for a digital future and build deep competencies to help accelerate the bank’s transformation journey.
GF Securities Co., Ltd (China) – GF Securities launched BetaNew II – a robot advisor project – in August 2017. It aims to make investing easier by automatically offering intelligent stock and asset management advice for millions of investors, based on comprehensive and real-time information, well-tested finance model with risk control and powerful artificial intelligence.
Max Bupa Health Insurance (India) – Max Bupa introduced AnyTimeHealth (ATH) machines in December 2017 to propel health insurance penetration in India. ATH machines simplify the way people purchase health insurance, allowing customers to run instant health assessments and buy insurance cover in three minutes. The machines are designed for customers who find health insurance buying too complicated or lack the time or motivation to purchase a policy.
RHB Bank Berhad (Malaysia) – The RHB MyHome app was developed for homebuyers that want a streamlined, transparent process to get their dream home. The app is an all-in-one digital solution for customer’s mortgage needs, allowing them to apply for a mortgage and check on the loan status. It also has an advisory simulator that helps customers determine their financial affordability for a new home to assist in decision making.
Award submissions were assessed using a robust and dynamic framework to ensure that the assessment process is pertinent and objective. The Gartner Awards Framework (GAF) is used as a structured model of assessment that enables participating organizations to be benchmarked against world-class performance standards. The GAF consists of specialized assessment modules pertaining to the evaluation criteria for each of the submissions. The criteria and subcriteria provide a robust set of requirements that are used as the methodology for benchmarking and learning among the participating organizations.
The identification of a Gartner award winner or finalist is not an endorsement by Gartner of any company, vendor, product or service.
About Gartner Symposium/ITxpo
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