Media Release

Mangaluru, Jan 28: Karnataka Bank has created history by winning awards in six categories at the ‘20th Annual Banking Technology Conference, Expo & Citations, 2024’ instituted by Indian Banks’ Association, the premier organisation of the banking industry in India.

The awards were 'Best Tech Talent & Organisation', 'Best IT Risk Management', 'Best Technology Bank', 'Best Fintech & DPI Adoption' - all Runner Ups, 'Best Digital Sales, Payments & Engagement' - Special Mention and 'Best AI & ML Adoption' – Special Mention.

The brief of awards won and highlights are as follows :

1) Best Tech Talent and organisation - Runner Up

KBL fosters a digital-first culture by driving innovation, while providing ongoing training, partnering with industry experts to address skill gaps, and introducing new tools to improve team collaboration and accelerate development
Highlight: Tech leadership programmes

2) Best IT Risk Management - Runner Up

KBL implemented robust security frameworks, proactive risk monitoring and cutting-edge technologies like performing regular VA and PT, BCP plans in place and leveraging AI & ML for predictive risk analytics
Highlight: GSLB for active DC-DR, SAM & HAM from ServiceNow

3) Best Technology Bank - Runner Up

KBL Bank has built a robust enterprise architecture team, leveraging cutting-edge technologies like cloud computing and AI/ML models to deliver seamless digital solutions. This positions the Bank as a tech-driven leader, driving innovation, efficiency, and superior customer experiences.

Key highlights include the Exacc-Customer initiative, Change Data Capture using Kafka, and the Data Lake project for personalized banking.

4) Best Fintech and DPI Adoption – Runner Up

KBL leads FinTech innovation with advanced DPI adoption and seamless payments, highlighted by CBDC and UPI/IMPS with minimal failure rates.

5) Best Digital Sales, Payments and Engagement – Special Mention

KBL drives digital sales, payments, and engagement using AI/ML, ensuring seamless transactions and personalized customer experiences.

Highlight: AI-powered personalized banking and lead sourcing for targeted customer engagement.

6) Best AI and ML adoption – Special Mention

KBL excels in AI/ML adoption with phone banking, chatbots, and personalized banking for enhanced customer engagement.

Details of the Winners/Runner-ups/Special Mentions of the 20th Annual Banking Technology Citations Ceremony are available at the following weblink https://www.iba.org.in/reports/20th-annual-banking-technology-citations-ceremony-winners-runner-ups-special-mentions_1673.html 

Sharing his happiness on the achievement, Srikrishnan H, MD & CEO of the Bank said “It is yet another moment of pride for the Bank as we consistently find ourselves in the league of leading financial institutions pioneering New-age Banking technology. This recognition is a testimony to the combined in-house capabilities of the Bank’s Technology Centre, Digital Centre of Excellence (DCoE) and Analytical Centre of Excellence (ACoE) in Bengaluru. We remain committed to providing superior customer experience by continuously innovating, building best-in-class products and processes using agile methodologies, partnering with FinTechs, focusing on UI/UX & CX and increasing usage of AI/ML by complying to regulatory guidelines.”

Commenting on the achievement, Sekhar Rao, executive director, said “With focus on technology and digital transformation, Karnataka Bank is poised to create many more milestones in the growth journey of its second century of its purposeful existence. Credit goes to the dedicated team driving the IT, Digital and Analytics initiatives and staff members across the Bank for their zeal and enthusiasm in full adoption of IT across branches and different verticals of the Bank.”