Banking And Financial Institutions Rewarded For Innovation

Published March 22nd, 2010 - 09:39 GMT

In celebrating and encouraging innovation and efficiency CPI Financial, publisher of Banker Middle East magazine, has announced that the online voting for Banker Middle East Product Awards is now available.  The Awards being distributed in April 2010 at the ceremony have been designed to distinguish excellence in product quality and service delivery through a peer vote process.

The rising demand for quick, convenient and efficient financial and banking transactions has compelled financial institutions and retail banks to continuously improve their products and services taking into account client desires, competitive threats and technological change.

Dominic de Souza, Chairman of CPI Financial, says: “Banks within the Middle East have been exposed to intense competition amongst one another due to the expanding banking sector; innovating the simplest bank account to the most complex structured investment product, in order to hold a competitive edge.

“Clearly, today’s retail banks and financial institutions have evolved over the last decade, with user-friendly, efficient and inventive products and services to set themselves apart from competition,” he continues.

The Banker Middle East Product Awards, currently one of the most distinguished awards programmes within the financial industry, will be recognizing banking products and services within the Middle East that are either exceptionally innovative or have generated excellent financial results and/or transference of market share, particularly during times of economic volatility.  Among a total of 27 awards being granted to recognize the impressive products throughout the region, some of the top desired ones presented will include, ‘Best new product,’ ‘Best structured product,’ ‘Best customer service,’ ‘Best Islamic Covered Card’ and ‘Best Credit Card.’

“The retail banks and financial institutions nominated this year are offering the best products in the industry,” says Robin Amlôt, Managing Editor of CPI Financial. “Due to heightened competition and consumer expectations, being recognized for such an award is a great accomplishment. This year CPI Financial aims to set the award winners as a performance standard for all retail banks and financial institutions throughout the Middle East.”  

The awards winner shortlist for the Banker Middle East Product Awards is currently available for live voting on the awards website Readers of Banker Middle East or registered users of have until 10 April to cast their votes.    After a thorough analysis of the voting results, final winners will be honoured in April 2010 at a gala dinner in Dubai.  

The ceremony has grown to become one of the most valued and vastly attended industry events.  The results last year were impressive, with over 5,500 votes cast and more than 250 top executives from banks throughout the Middle East gathering to celebrate the prospering accomplishments of the industry. CPI anticipates a greater voter turnout this year due to the increased volume of readers of their monthly publication, Banker Middle East, as well as their weekly newsletter.

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