< Previousfi nancemiddleeast.com30 | June 2024 B ackbase, the winner of the Banking Solution Provider of the Year award, provides engagement banking solutions for fi nancial institutions globally, from large banks to credit unions and community banks. The Dutch fi nancial technology company enables banks to break free from the constraints of legacy IT systems by off ering a next- generation engagement banking platform. This platform allows banks to gradually replace or decompose disparate legacy systems and construct a modern customer engagement orchestration architecture around them. By doing so, banks can prioritise essential customer journeys across all touchpoints, eliminate silos, and empower both customers and front-offi ce employees. “We’re very happy and excited to receive this award that really just highlights the dedication of the entire team and the hard work we put throughout the years,” said Shahdan Shokry, Senior Campaign Manager, CEEMEA Region. “Our plan for next year is always to remain focused on providing our customers with the best value and that is through helping them modernise their IT systems to engage in a banking model that helps them be more customer centric, rather than just rely on heavy IT systems.” BANKING SOLUTION PROVIDER OF THE YEAR BACKBASEfi nancemiddleeast.comJune 2024 | 31 T his prestigious award recognises a bank that has demonstrated excellent fi nancial performance and customer service, as well as a commitment towards innovation and contributing to the overall development of the fi nance sector in the region. The Abu Dhabi Commercial Bank (ADCB) met all these criteria and more, showcasing the region’s strongest commitment to customer experience excellence. In 2024, ADCB continued its growth trajectory with a solid fi rst- quarter net profi t, showcasing strong earnings growth driven by robust loan growth and impressive fi nancial performance indicators. Its services combine excellent service, diverse product off erings, technological innovation, operational effi ciency and a strong focus on security and trust. As part of its focus on building a future-ready bank, ADCB continues to invest signifi cantly in its digital transformation programme, which is driving scalable growth, higher productivity and enhanced customer experience. COMMERCIAL BANK OF THE YEAR ABU DHABI COMMERCIAL BANKfi nancemiddleeast.com32 | June 2024 I n a remarkable testament to its unrivalled prowess, Binance FZE secured the Cryptocurrency Trading Platform of the Year title. Binance FZE received a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA) earlier this year. Following the Minimum Viable Product (MVP) license issuance in July 2023, this marks a signifi cant milestone for Binance and the global virtual asset landscape. The transition from an MVP to a VASP license allows Binance FZE to extend its product off erings to the retail market alongside qualifi ed and institutional investors. “Our focus continues to be our users, that’s always been our number one. We build our platform to make sure we are off ering the best to them by taking their feedback into account and fi xing things to suit their needs wherever needed,” said Stephanie Emile, Head of Operations at Binance FZE. “We continue to work with regulators that has been one of our key focusses across the world, but especially in the UAE.” CRYPTOCURRENCY TRADING PLATFORM OF THE YEAR BINANCEfi nancemiddleeast.comJune 2024 | 33 W hen one thinks of excellent customer experience in the fi nancial world, Al Ansari Financial Services immediately springs to mind. The company has demonstrated outstanding attention to its customer service, maintaining a constant commitment to meeting and exceeding customer expectations. For almost 60 years, Al Ansari Financial Services has allowed tourists, residents and businesses to transfer and exchange money and conduct payments swiftly, securely and eff ectively, always adapting to changing customer needs and demands. “We are delighted that we have been recognised with the ‘Customer Service Excellence Award’ at the Finance Middle East Awards,” said Mohammad Bitar, Group Deputy CEO at Al Ansari Financial Services. Adding: “This award is a true testament to the dedication and hard work of our entire team. It validates our commitment to building strong client relationships and fostering a culture that prioritises exceptional service at every touchpoint.” CUSTOMER SERVICE EXCELLENCE AWARD AL ANSARI FINANCIAL SERVICESfi nancemiddleeast.com34 | June 2024 A stra Tech, the recipient of the Digital Banking Platform of the Year, stands at the forefront of MENA’s consumer technology landscape. Since its inception in 2022, Astra Tech has consistently pushed boundaries, creating the world’s fi rst Ultra App. This platform, developed through strategic acquisitions like PayBy, Rizek and Botim, serves over 150 million users across 155 countries. Astra Tech’s PayBy-powered Ultra app saw a 75% increase in transactions quarter-on-quarter, highlighting its commitment to bridging gaps in traditional banking systems and providing vital services to those overlooked by conventional institutions. “We are currently building a comprehensive, rewarding loyalty program that serves both our consumers and our merchants, and I think this would create traction in reality to all our merchants and consumers,” noted Martina Habib, VP of Business Development and Strategy at Astra Tech. DIGITAL BANKING PLATFORM OF THE YEAR ASTRA TECHfi nancemiddleeast.comJune 2024 | 35 I nvestcorp secured the prestigious Asset Management Firm of the Year award among this year’s fi ve fi nalists. The Bahrain- headquartered fi rm is a global investment manager specialising in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes, infrastructure, strategic capital and insurance asset management. Managing $52 billion in assets, including those managed by third-party managers, Investcorp has 14 offi ces across the US, Europe, GCC and Asia, employing approximately 500 people from 50 nationalities globally. Investcorp aims to reach $100 billion in AUM in the medium term. In December 2023, Investcorp entered the global infrastructure asset class by acquiring a 50% stake in Corsair’s Infrastructure Business, becoming Investcorp Corsair Infrastructure Partners. With $4.8 billion AUM in global assets focused on transportation, logistics, and infrastructure subsectors, Investcorp plans to double its infrastructure AUM to $10 billion over the next fi ve years. In March 2024, Investcorp announced its investment in New York’s JFK Terminal 6 Project, one of the biggest infrastructure investments in a generation. ASSET MANAGEMENT FIRM OF THE YEAR INVESTCORPfi nancemiddleeast.com36 | June 2024 T elr claimed the crown of the Fintech Company of the Year. Established in 2014, Telr is an award-winning UAE-based payment gateway solutions provider off ering a unique platform that handles payments in over 120 currencies and 30 languages in the UAE and KSA, with the highest level of security. Through a single integration, Telr grants access to every payment method, including Visa, Mastercard, American Express, UnionPay, JCB, Apple Pay, PayPal, SADAD, Mada, STC Pay and urpay. Telr extends its services further, off ering a complete solution for e-commerce. “Our plans for next year are to continue our innovation towards the various payment trends and making sure that we are aligned with the market and having a great enhancement towards our user experience and various aspects of our payment technology,” said Khalil Alami, Founder and CEO of Telr. FINTECH COMPANY OF THE YEAR TELRfi nancemiddleeast.comJune 2024 | 37 I slamic fi nance is a key part of the region’s fi nancial sector, and so the Finance Middle East Awards would not be complete without this category. In its inaugural edition, the esteemed judging panel recognised Al Rajhi Bank as the Bank of the Year. Founded in 1957, Al Rajhi Bank is one of the largest banks in Saudi Arabia, with SAR 801 billion in assets and the largest customer base of any bank in the Kingdom. The bank has over 500 branches across Saudi Arabia, Kuwait and Jordan, with a subsidiary in Malaysia. Earlier this month, the bank succeeded in off ering the fi rst sustainable additional capital (AT1) sukuk denominated in US dollars, with a size of $1 billion and a profi t rate of 6.38% annually. ISLAMIC BANK OF THE YEAR AL RAJHI BANKfi nancemiddleeast.com38 | June 2024 Z urich International Life received the award for Insurance Company of the Year in recognition of its exceptional performance, innovation and customer satisfaction over the past year within the Middle East region. Since January 2020, Zurich International’s customer base has increased by 10% to over 600,000, including over 400,000 corporate employees through group life and disability solutions, and approximately 200,000 retail customers. “We are very excited to have been awarded ‘Insurance Company of the Year’ at the Finance Middle East Awards 2024,” said Annette Graakjaer, Senior Communications Manager at Zurich International. “It’s a proud moment for us. It’s an acknowledgement of all the steps we have taken over the last year to make a positive diff erence for our customers, partners, employees and communities. Winning this award is only inspiring us and motivating us to do even more.” INSURANCE COMPANY OF THE YEAR ZURICH INTERNATIONAL LIFEfi nancemiddleeast.comJune 2024 | 39 S tc pay earned the prestigious title of Payment Processing Network of the Year. The fi rm has become a vital part of the Bahrain digital payments landscape, empowering previously excluded people with fi nancial access. Licensed by the Central Bank of Bahrain, the company is on a mission to enable a digital-fi rst economy in line with the government’s Economic Vision 2030. The company invests in infrastructure and innovation, marking numerous fi rsts in Bahrain’s telecom market. The company is the exclusive mobile wallet in Bahrain with a partnership with Mastercard, introducing pre-paid cards that exceed consumer expectations in today’s fast-paced digital era. Moreover, stc pay has enabled the Fawateer service to make bill payments in partnership with Khaleeji Bank. For businesses, stc pay’s Wage Protection System-compliant payroll solution has been adopted by a substantial number of 100 registered companies. Since its launch last year, stc pay has garnered over 300,000 downloads and processed more than 15 million transactions worth of over BHD 500 million, contributing signifi cantly to Bahrain’s vision of a cashless economy. PAYMENT PROCESSING NETWORK OF THE YEAR STC PAYNext >