Continuing its journey towards excellence, J&K Bank has won the ‘Best Digital Financial Inclusion Initiatives' Award in the prestigious ‘Indian Banks' Association’s (IBA) ‘17th Annual Banking Technology Conference and Awards: 2020-21.’ In the function that was held virtually on February 14, 2022, the bank was also awarded second best position in ‘Best IT Risk & Cyber Security Initiatives’ under the Small Bank Category.
The awards themed by the IBA - an association of 249 banks operating in India - as ‘Next Gen Banking’ were presented for the year 2020-21 during an online event that was presided over by the Deputy Governor Reserve Bank India (RBI) T Rabi Sankar in presence of Chairman IBA Sunil Mehta, MD & CEO Punjab National Bank Atul Kumar Goel and other prominent personalities from the banking industry. J&K Bank was chosen for the top awards by an eminent jury comprising of stalwarts from the banking industry with expertise in technology-based operations.
Dedicating both the awards to the spirit of team-work in J&K Bank, MD & CEO Baldev Prakash said, “Recognition from such a prestigious platform of bankers’ collective is great acknowledgement for us and a strong indicator that we are moving in the right direction. Such an institutional appreciation will boost our morale as we keep moving towards systemic excellence for attainment of our long-term organisational goals."
Terming technology as a cutting-edge tool in revolutionizing the digital banking landscape, he said, “We are already gearing ahead towards a robust technological shift within the Bank to leverage optimally the digital dynamic that is fast transforming the country’s banking landscape. Such a recognition will boost our confidence further to sync our operational systems with the security requisites of Digital India.”
Pertinently, IBA's Annual Banking Technology Awards, now into its 17th year, recognizes and rewards banks in the technology segment of banking industry - whose innovative ideas, risk leadership qualities, and implementation of various initiatives have kept them ahead of their competitors either by maintaining the competitive edge or by changing the competitive landscape.