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Just A Drop of Creativity

Can you think of a painter who knows how to draw more than what to draw? A painter who is just drawing for the sake of having fun without thinking much of what he is actually drawing? if you think that having a precise concept is the more important than proceeding to do it, then you will be surprised to look at the winning projects of financial technology published by The Bankers.

If you are still in doubt, take a look at the list of the categories of the winning projects that got the privilege not for their existing concepts but for how they have shaped their concepts.


A bank without existence!

The first of the winners is the Imaginbank project from Spain, which is the first ‘mobile only bank’, the brainchild of Caxiabank. It’s a bank that will only exist within your smartphone. Just with some apps or social networks you will be all sorts of services along with the ability to use your current accounts, debit cards, consumer loans and so on. You can also transfer money from mobile phones or by emails or you can withdraw money from ATMs by using codes instead of using boring cards. The main idea behind this was trying to come up with a technology which will be interesting and creative enough to attract the younger generations who are fed up with the traditional banking policies.

Block Chain:

The Network Builders

Winners of the blockchain project is not only R3 CEV, instead it includes the maximum number of other parties. Interestingly instead of building this distributed ledger technology one by one and then going to the financial institutions, the clever move here was to do the opposite. That is to say, it simply united all the financial institutions to work together. Such an idea of working together involved 40 members who used multiple cloud technology to trade fixed income assets. Moreover, the main innovation lies in the fact that it will include non-banks and banks as stated by the R3 CEO David Rutter, “We have a lot going on and there is much more to come.”


The Fraud Finders

How great will you be as a cop if you can detect a money laundering before the perpetrator has planning to do so? This is what exactly HSBC is doing. The humanly impossible work of going through more than 250 million transactions is made possible by HSBC through creating these big data solutions dubbed ‘Compliance Operational Store’, or COPS which is in simple terms a global connection of data factories that will help catch the frauds in no time giving them the message that they have to be more clever in doing anything illegal since each and every customer behavior and activities is being tracked!

Customer Service Turned into ‘INTELLIGENT Customer Service’

As a demanding customer, you might want to have access to any sort of services and get links to products from anywhere and at any time. That is exactly what is being made possible! To meet this demand of getting services, the CTBC bank planned to provide personalized digital services through social media where instant communication is possible through live chats. So whenever you are in Taiwan feel free to get your self-service anytime and from anywhere!

3D Solutions to Cyber Crimes!

Sounds impossible? Or more aptly what is that? Getin Bank introduced a new dynamic card verification code (DCVC) which shows a dynamic security code. There is no basic difference between a regular card and this dynamic card of money transactions except one slight but crucial difference; namely the dynamic code is refreshed every hour. This 3D security has not only made non-cash payments safe but it has increased the popularity of mobile payments.

Cockpit: Fighting Arena of Data

Cockpit, as the name suggests, is a digital dashboard invented by the Deutsche Bank which has found an innovative way of presenting the information to the customers. To cope up with huge number of customer inquiries, and to give the information sector a new trend, cockpit has developed a platform that can perform multiple operations and technical reporting in an organized way. It is quite different from the manual approaches and provides a much faster and satisfactory user experience. In this system users are not required to examine and understand a set of data presented to them. Rather it is able to correcltly tell you what to you should do and when. People who have had enough banking jargons and learned to hate them with a passion will find this refreshing and truly convenient.


Wear Your Bank on Your Wrist You can wear your bank on your wrist like your watch or your bangles with this new invention. Its called the watchbank service where the targeted customers were Indians who love to wear devices on their wrists. As you may have already guessed, its for the people who love to wear devices which will not only look like a jewelry but will also help them get the convenience of banking services at the same time. This two-in-one device is offering financial services on apple watch for which the bankers are literally at an arm’s length from the customers. Along with ten specific actions, this wrist bank is also helping the customers in recharging their mobiles, block lost cards and locate nearest ATMs.


The Bank Disrupter?

As the determined portal of digitalization, Akbank is based on three main projects: to rapidly adopt technologies through third party applications, to deliver a broad application portfolio to its customers and to provide assistance in development of small entrepreneurs. Anyone familiar with the issues faced by small entrepreneurs to regular individuals will appreciate that the project has targeted exactly the right areas where initiatives are needed to better fit banking with current needs.

Touch And Pay:

The Game Changer

Smartphone users will now get the opportunity of mobile payment offerings in India with the ICICI Bank. That literally means that customers can now pay just by a touch! To be more specific, the technology made it possible to make cashless payments by using what is called an mVisa within a customer’s smartphone. For a safer transaction, a onetime unique token number is created by the bank’s server. This is also called the cashless payment policy where the innovative idea of banking lies in three key motives: speed, simplicity and security.

Fraud Preventer

Can trading policies by paper intensive industries help fraud prevention? The question has been answered by the DBS Bank in Singapore who set some trade alert projects to screen the broader transaction made with their customers. The project has been set out to find the potential fraudulent transaction behaviors which are finally helping in controlling suspicious trading

Chat bank and get what you want!

If you are a customer of ABSA Bank of South Africa, and you don’t feel like going out to the bank and keep standing for hours to get information, why not bank from your place of comfort. How? Simply log in to your Facebook account and converse about all your problems directly to the bankers. For example, you are planning to buy a dress and you need to know your account balance, simply type in ‘bal’ in your Facebook messenger and get your balance statement.

The Collateral Hub

The final innovative invention is by AcadiaSoft, which teamed up with 13 other global banks to build up a collateral hub. This idea of unifying and deriving at a single framework was generated from the idea to create a central marging platform to make the activities go under a smooth and standard supervision. Is the the future “big bank” that will look over all of the transactions? May be, may be not; but the bright side is that it has proven effective in preventing potential “collateral damage” in banking.

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