Financial services firms globally are consistently showcasing their remarkable ability to innovate and leverage technology for business performance enhancement. The inaugural Qorus Reinvention Awards - APAC spotlights leading innovators in the Asia-Pacific (APAC) region, emphasizing outstanding products, services, and the creative teams propelling them ahead of competitors. The ceremony held in Bangkok on November 22 honored twenty-four finalists operating in diverse markets across various countries.
First-ever Qorus Reinvention Awards put the spotlight on Asia Pacific innovation excellence
One standout recipient of recognition was the Commonwealth Bank of Australia, named SME Bank of the Year. The bank is actively supporting Australia's extensive small and medium-sized enterprises (SME) sector by offering a wide array of tailored products and services. Notably, the recently launched PayTo facility enables SMEs to collect payments in real-time, while a new cashflow dashboard on the CommBank mobile app provides business account holders with insights into monthly cash movements. To further aid SMEs in enhancing their business performance, the bank will soon integrate its Daily QI business insights dashboard into the CommBank app. Additionally, the Commonwealth Bank has developed green finance packages, encouraging small businesses to invest in energy-efficient equipment.
Michael Vacy-Lyle, Group Executive, Business Banking at Commonwealth Bank, expressed immense pride in the team's achievements, particularly the double recognition: CommBank secured the Gold award for SME Bank of the Year at the Qorus Reinvention Awards – APAC 2023, and the bank also received a prestigious award at the global Qorus-Accenture Banking Innovation Awards 2023. The bank was honored with the Gold award for Social, Sustainable & Responsible Banking for their 'Sustainability Action Tool (SAT),' which assists small businesses in embedding sustainability into their operations.
Highlighting the crucial role small businesses play in driving innovation, job creation, and local character, Vacy-Lyle extended gratitude to Qorus for recognizing CommBank's efforts. He also thanked the bank's valued small business customers, emphasizing the ongoing commitment to supporting and empowering the SME community.
