TUKWILA, Wash., and ALBUQUERQUE, N.M. (7/30/15)--Nusenda CU and BECU have been listed among the finalists for the BAI-Infosys Finacle Global Banking Innovation Awards for 2015.
The BAI-Infosys Finacle Global Banking Innovation Awards are hosted each year during BAI Retail Delivery, an annual retail banking event for representatives within the financial services industry. More than 250 nominations were submitted from 34 countries, with 39 finalists in nine different category awards.
Nusenda CU, Albuquerque, N.M., was cited in three categories: societal and community impact; community-based banking organization and most innovative bank of the year.
BECU, Tukwila, Wash., was nominated in the internal process improvement category.
In the societal and community impact and community-based banking categories, Nusenda CU was recognized for Co-op Capital, a collaborative financial product that combines micro-lending and community sponsors. Co-op Capital was developed to widen access to capital that is usually out of reach for low-income entrepreneurs who either have bad credit, insufficient collateral or lack both.
As a most innovative bank nominee, Nusenda CU was noted for its Powering Success micro-aid initiative, which was developed in partnership with the University of New Mexico. The program provides micro loans to underserved and high-risk students in the same way that startup companies are financed.
As a nominee in the internal process improvement category, BECU implemented real-time transaction monitoring and customer analytics software to gain insight on where, when and how members interact with its ATM channel. The enhancements have enabled BECU to improve processes such as real-time alerts that identify issues and reduce resolution time at specific ATMs.