FSIA 2022 press release

Press releases

Phonovation named overall winner at Deloitte Financial Services Innovation Awards

Gulru Atak, Innovation Lead at Citi recognised for contribution to the sector

16 June 2022

Dublin-based communications tools provider, Phonovation, has been announced as the overall winner of the third annual Deloitte Financial Services Innovation Awards. Phonovation provides secure, reliable messaging and mobile identity services to businesses across the UK and Ireland, combining best-in-class customer service with the latest proven technology.

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. Celebrating companies across the island of Ireland, the awards programme is run in partnership with Banking & Payments Federation Ireland (BPFI) and Financial Services Ireland (FSI).

Speaking at the awards, recently appointed Head of Financial Services, Deloitte Ireland, Donal Lehane commented:

Businesses should take pride in the resilience and innovation they have shown over the last few years, and as they look forward to new challenges, innovation will be central to adapting product lines and maximising customer experience and engagement. The companies both shortlisted and awarded this year showcase the breadth of innovation happening across the financial services sector in Ireland. I congratulate all of our winners.

In addition to being named the overall winner at the awards, Phonovation was also the winner of the Most Disruptive Fintech category.. Phonovation’s Mobile ID service impressed judges with how it has enabled Irish financial institutions to securely register their banking app to the mobile phones of six million customers allowing them to send SMS one-time passwords in a compliant and safe manner. Its service ensures a seamless onboarding journey and allows both new and existing customers to securely use their mobile phones for online banking, enabling them to transact securely through their online account.

Gulru Atak, Head of Innovation in Citi’s Institutional Clients Group, was recognised with the Leadership Award which distinguishes pioneers of innovation across the financial services industry. Within her role at Citi, Gulru explores new opportunities for growth through new business models, emerging technologies and partnerships, as well as driving innovation efforts in collaboration with other Citi teams.

The judging panel, comprising Michael Concannon, Head of Strategy, Fintech & Payments, BPFI; Audrey Crummy, Deputy Director, FSI; Ciaran Hancock, Business Editor, The Irish Times; Ken Moore, Chief Innovation Officer, Mastercard and David Dalton, Head of Financial Services, Deloitte, chose the following winners:

    • Most Innovative InsurTech: Xtract

    • Most Innovative Digital Platform: Enterpryze

    • Most Innovative RegTech: Corlytics

    • Social or Sustainable Innovation: Naomh Breandáin Credit Union

    • Most Disruptive FinTech and overall winner: Phonovation

The Deloitte Financial Services Innovation Awards took place on Thursday 16 June. The event was hosted by comedian Deirdre O’Kane and included a keynote speech from Greg Williams, Editor, WIRED UK and transformative trends expert.

Notes to editors

Award categories

    1. Overall winner - An organisation that has significantly contributed to     innovation in the financial services industry and advancement of the sector.

    2. Most Innovative InsurTech - An innovation (product / service) that is having     a disruptive impact within the insurance industry.

    3. Most Innovatvie Digital Platform - An innovative digital platform which     supports customer and/or financial services organisations.

    4. Most Innovative RegTech - An innovation (product / service) that supports     Financial Services in meeting key regulatory compliance obligations and     challenges.

    5. Social or Sustainable Innovation- An innovation within the financial     services sector that harnesses technology to address social responsibility     and/or employee wellbeing & Inclusion and/or sustainability concerns either     specific to a business or the wider community.

    6. Most Disruptive FinTech - A small to medium sized organisation that has     disrupted the financial services industry with a tech innovation (product /     service) that significantly improves customer experience

    7. Leadership – An individual who has significantly contributed to innovation     in the financial services industry and advancement of the sector

Entry criteria

    1. An organisation that has developed an innovation within the financial     services industry.

    2. An organisation that has been in operation for a minimum of three years.

    3. An organisation with an annual turnover in excess of €1million/£850,000.

    4. All entrants will be requested to submit proof of turnover, with information     being held in strict confidence.

    5. An organisation (parent company) which is operating on the island of     Ireland (including Northern Ireland).

    6. The judging panel reserves the right to reallocate entries into alternative     categories deemed suitable.

    7. All applicants are subject to independence checks.

A business may have entered in as many categories as applicable.

Assessing criteria

The judging panel examined applications under the Doblin Framework for Innovation.

For Further Information Please Contact

Nicola Cooke
087 7806125

About Deloitte

At Deloitte, we make an impact that matters for our clients, our people, our profession, and in the wider society by delivering the solutions and insights they need to address their most complex business challenges.
As the largest global professional services and consulting network, with over 312,000 professionals in more than 150 countries, we bring world-class capabilities and high-quality services to our clients.

In Ireland, Deloitte has approximately 3,000 people providing audit, tax, consulting, and corporate finance services to public and private clients spanning multiple industries. Our people have the leadership capabilities, experience and insight to collaborate with clients so they can move forward with confidence.

In this press release references to Deloitte are references to Deloitte Ireland LLP. The information contained in this press release is correct at the time of going to press. Deloitte Ireland LLP is the Ireland affiliate of Deloitte NSE LLP, a member firm of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”). DTTL and each of its member firms are legally separate and independent entities. DTTL and Deloitte NSE LLP do not provide services to clients. Please see www.deloitte.com/about to learn more about our global network of member firms.

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 160 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.

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