The solution won in the Big Data and Analytics category at the awards held in Amsterdam, The Netherlands. Chris Wood, Head: Emerging Payments, Strategy and Regulation at Nedbank, said innovation had always been central to the bank’s operations having been first-to-market with a number of leading technologies.
“Nedbank was one of the first major financial institutions globally to implement a form of banking on a cellphone, known as WAP banking – the real precursor to the app that we now have on our cell phones.
Other innovations included being the first to introduce pre-paid options through electronic channels rather than physical vouchers – something that has now become a standard offering,” he said.
The Efma Accenture Innovation Awards aim to identify and reward the most innovative projects in the retail financial services arena at a global level.
“Nedbank Market Edge™ has proven to be a major disruptor for the South African banking industry, as no other financial services institution has been able to build a similar tool and effectively take it to the business
market. Through this tool we have been able to add real strategic value to our business customers,” said Wood.
Author: Tintswalo Baloyi