- GLOBAL BUSINESS
MauBank Ltd receives accolades for innovation at Infosys Finacle Client Innovation Awards 2019
MauBank is the proud recipient of two awards at the Infosys Finacle Client Innovation Award 2019 event held in India in April 2019. MauBank won the first prize for API (Application Programming Interface) Led Innovations Category for having simplified its customer’s on-boarding journey through its online lending application “MyLease”. The Bank is also the runner up in the Emerging Technology led innovations Category for its mobile banking platform “WithMe”. These awards are in recognition of the Bank’s commitment to becoming the leading digital bank in Mauritius. With a view to enhancing competitiveness, MauBank is developing higher standard of customer service and bringing convenient friction-free digital solutions for better customers experience.
“MyLease” enables customers to apply for leasing facilities at their convenience wherever they are, round the clock and receive an in principle approval within 10 minutes. Launched in November 2018, its success has been beyond expectation with a 400% increase in usage within the first month compared to the traditional in branch channel application.
“WithMe” is a state of the art mobile banking solution which brings a digital experience for banking transactions and account opening. MauBank vision is to become a truly customer-centric and build ecosystems that will develop business models to keep up with the ever changing customer needs.
In its fifth edition, the Infosys Finacle Awards recognize banks that deliver breakthrough innovations in providing banking solutions, enhanced customer service, process design and distribution channels capitalizing on Finacle solutions. Over 250 nominees received across eight categories and evaluated by an expert jury on the basis of three criteria – Innovation, Benefits and Complexity.
Sanat Rao, Chief Business Officer and Global Head of Infosys Finacle, said, “We are living in an era of unprecedented innovation. Ubiquitous digitization is changing the industry’s business models and competitors globally. In these times, continuous and value-focused innovations are the key drivers for long term success”.
Commenting this accolade, Premchand Mungar, Chief Executive of MauBank, stated “MauBank is poised to be among the technology transformation leaders on the market with innovative solutions that will heighten our customer’s experience. I am delighted that our investments to introduce disruptive innovation in banking have been acclaimed and I am proud of my team associated with these awards.”