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The finalists presented their case studies during Gartner IT Symposium/Xpo, which is taking place here until Thursday. Taishin International Bank Co., Ltd (Taiwan) was selected as the regional 2019 Gartner Eye on Innovation Award Asia Pacific winner by the attendees at the event. Commonwealth Bank of Australia (Australia) and CTBC Bank (Taiwan) were also named as award recipients.
Taishin International Bank Co., Ltd (Taiwan) – With the popularity of ATMs around Taiwan, Taishin Bank developed a Facial Recognition Project, which combines biometric technologies to offer services such as Face ID-enabled withdrawals with assurance. This resolves the problem of stolen ATM cards and unauthorized withdrawals.
In addition, facial recognition technology also identifies the bank's wealth management customers when they enter a branch, enabling a more personalized and immediate service. After launch, the project reported a substantial increase in the amount of Face-ID accounts set up by customers and cash withdrawals. This boosts ATM usage significantly and enhances branch stickiness.
Additional Award Recipients:
Commonwealth Bank of Australia (Australia) – In a global first, the bank launched ‘Benefits Finder’ to help customers track down unclaimed benefits, rebates and concession payments and claim what they are entitled to. This new feature in the CommBank app connects customers to more than 250 potential benefits. It uses a unique, multi-disciplinary team of behavioral economists, data science, digital delivery, UX, strategy and academic partners. The bank estimates over A$150 million will be delivered annually to customers once fully scaled. Significant uptake has occurred since December 2018 after targeted messages were sent to more than 2.2 million customers, resulting in up to A$40 million in claims.
CTBC Bank (Taiwan) – The bank developed Smart KYC to establish an efficient Know Your Customer (KYC) validation standard globally, providing a single and holistic view on each customer and their dealings with the bank. It also provides consolidated customer information in connect with each anti-money laundering (AML) contact point, and reduces reliance on manual investigations and decision-making by rules-based scenarios. Smart KYC incorporates biometric verifications, facial recognition, object detection, smart process automation and Pluto, an AI platform concentrating on text data processing and clustering. The bank has decreased unnecessary KYC data collection times and shortened new customer onboarding by 5 to 7 days.
The identification of a Gartner award winner or finalist is not an endorsement by Gartner of any company, vendor, product or service.
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