AYLIEN named overall winner at Deloitte Financial Services Innovation Awards has been saved
AYLIEN named overall winner at Deloitte Financial Services Innovation Awards
Ken Moore, Chief Innovation Officer at Mastercard, recognised for contribution to the sector
3 June 2021
Dublin-based risk intelligence provider AYLIEN has been announced as the overall winner of the second annual Deloitte Financial Services Innovation Awards. Established in 2014, AYLIEN leverages artificial intelligence to empower businesses to collect, analyse and understand human-generated content.
The awards recognise both individuals and companies that are leading the way in innovation - using technology to address challenges and create opportunities, improving user experience and changing the way business is done. Banking & Payments Federation Ireland (BPFI) and Financial Services Ireland (FSI) are supporters of the awards programme.
While the awards were postponed in 2020 due to the Covid-19 pandemic, Deloitte held a virtual ceremony to announce this year’s winners. Speaking at the awards, David Dalton, Head of Financial Services at Deloitte Ireland, commented:
Innovation in financial services has never been more important, so we are very pleased to announce the winners of this year’s awards, after having to postpone last year’s ceremony. The companies shortlisted and awarded today are great examples of the innovation that is happening in the sector all over Ireland, while many businesses still count the cost of the pandemic.
If businesses can take away one learning from the last year, it is that digital adoption is no longer an optional extra – it must become a core principle of all business’ offerings as we emerge into a post-pandemic Ireland. Financial services companies are at the heart of this change and today’s awards is about celebrating their continued innovation through the most challenging of circumstances.
In addition to being named the overall winner at the awards, AYLIEN was also the winner of the Most Disruptive Fintech category. Their product RADAR is an AI-powered risk identification and monitoring platform that transforms how risk teams discover and investigate known and unknown risks. RADAR uses AI to aggregate and understand vast quantities of unstructured data such as news, regulatory updates, company filings, and internal data sources providing early signals of critical risk events related to a company's customers, supply chains, competition, and investment strategies.
Ken Moore, Chief Innovation Officer at Mastercard was also recognised individually with the Leadership Award. Ken is responsible for leading Mastercard’s R&D initiatives globally and for building many of the products that have helped Mastercard transform from a card payments company to a diverse technology company with businesses from multi-rail payments to identity, cyber security, data and many others. Mastercard’s global R&D is now headquartered out of Ireland and Ken and the team recently announced the recruitment of an additional 1,500 people and the creation of a purpose-built campus in Sandyford. Throughout his career, Ken has been a pioneer for innovation within the industry and has consistently demonstrated his ability to originate and commercialise new products and services.
The judging panel, comprising Brian Hayes, CEO, BPFI; Furio Pietribiasi, Chairman, FSI and CEO, Mediolanum International Funds Limited; Carol Gibbons, Head of ICT & International Services, Enterprise Ireland; Ciaran Hancock, Business Editor, The Irish Times and Gulru Atak, Head of Innovation, Citi and David Dalton, Head of Financial Services, Deloitte, chose the following winners:
- Innovation in Banking: Revolut
- Innovation in Insurance: Hanover Re Ireland
- Innovation in Investment Management: Fund Recs
- Most Disruptive Fintech: AYLIEN
- Social and Sustainable Entrepreneurship: Mail Metrics
- Leadership Award: Ken Moore, Chief Innovation Officer, Mastercard
- Overall winner: AYLIEN
The Deloitte Financial Services Innovation Awards took place virtually on Thursday 3 June. The keynote speaker at the event was Kirk Vallis, Global Head of Creative Capability Development at Google.
- Banking - An innovation that delivers a new and unique banking product, service, channel to market, or partnership, or that significantly streamlines banking operations and backend processes, or that enhances the customer experience. To qualify, this innovation should be at a sufficiently advanced stage of development: i.e., user acceptance testing, ready for go-live, or post-launch.
- Insurance - An innovation in process, business model, operations or customer experience that insurers can use to reduce costs, improve efficiencies, manage risk, or reach customers and intermediaries with more tailored insurance products and services.
- Investment Management - A new or breakthrough product, service, experience or operational improvement aimed at the investment management market that uses novel and creative ways to serve the needs of investors or investment management firms, such as reducing the cost to access services, or delivering differentiated customer experiences.
- Most Disruptive FinTech - A organisation which uses technology to disrupt a well-established part of financial services, gaining a competitive edge with a product, process or approach – or a combination of all three – that solves a longstanding problem for the industry, or addresses a niche segment in a new way, or improves internal operations for financial services providers.
- Social or Sustainable Entrepreneurship - An innovation within the financial services sector that harnesses technology to address social responsibility and sustainability concerns either specific to a business or for the wider community.
- Leadership - An individual who has significantly contributed to innovation in the financial services industry and advancement of the sector - their work could be related to establishing a new innovative product or setting new standards of excellence.
- Overall winner - An organisation that has significantly contributed to innovation in the financial services industry and advancement of the sector.
The Leadership and Overall Winners are chosen by the judges.
Qualifying entrants will be:
- An organisation that has developed an innovation within the financial services industry.
- An organisation that has been in operation for a minimum of three years.
- An organisation with an annual turnover in excess of €1million/£850,000. All entrants will be requested to submit proof of turnover, with information being held in strict confidence.
- An organisation (parent company) which is operating on the island of Ireland (including Northern Ireland).
- The judging panel reserves the right to reallocate entries into alternative categories deemed suitable.
- All applicants are subject to independence checks.
A business may enter in as many categories as applicable.
The judging panel will examine applications under the Doblin Framework for Innovation.
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About Banking & Payments Federation Ireland
Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland. Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.
Delivering a range of services through our specialist team, we mobilise the sector’s collective resources and insights to deliver value and benefit to members, enabling them to build competitive sustainable businesses which support customers, the economy and society.
Through the work of our Brussels and Frankfurt based offices, our active membership of the European Banking Federation and our well-established EU and international networks, we also represent Ireland’s banking and payments industry at an international level.
About Financial Services Ireland
Financial Services Ireland (FSI) is the Ibec sector representing the full suite of financial services companies in Ireland. Our 140 members are involved in banking, insurance, fund administration, investment management, corporate treasury, international financial services, aircraft leasing, securitisation and fintech.
Established in 1984, FSI supports the development of the financial services industry both at domestic and international levels. We bring together multiple financial services sectors and channel industry issues through FSI’s and Ibec’s powerful advocacy voice. Our network is structured around core working groups, member forums, networking events and initiatives, which are the primary enablers of our strategy.