Elets 7th BFSI CTO Summit: Tech Innovation Awards

Elets 7th Tech Innovation Awards 2023

The banking and financial services sector (BFSI) has always been quick to adopt new technologies, leading to a shift in the industry brought about by emerging technologies. These advancements are helping to modernise the infrastructure, cut costs, improve data security, and enhance the customer experience.

Elets Technomedia along with The Banking & Finance Post had organised the Elets 7th BFSI CTO Summit in Mumbai on 10th February 2023, which focused on the impact of game-changing technologies like Artificial Intelligence, Data Analytics, Automation, Blockchain, Cloud, and more. The summit showcased the thought-leaders in the BFSI sector to discuss the crucial role of security, customer experience, collaborations, regulations, and innovations in driving the industry to new heights.

The Elets BFSI Tech Innovation Awards aimed to highlight the exemplary contribution made by financial institutions in establishing a sustainable and resilient nation by celebrating the finest of technology and innovation throughout the BFSI industry.

Some of the categories of the awards, and the winner are:


  • Leading Technology Bank – Union Bank of India
  • Innovative Initiative in Social Sector – IDBI Bank
  • Excellent use of AI/ML – South Indian Bank
  • Outstanding Data Analytics Initiatives – HDFC Bank

Insurance Companies:

  • Excellence in Claim Management – Shriram Life Insurance
  • Prominence in Digital Insurance Innovation – HDFC ERGO General Insurance
  • Outstanding Product Innovation – HDFC Life Insurance
  • Leader in Customer Engagement Initiative – IndiaFirst Life Insurance
  • Outstanding performance in Business Continuity – Baja Allianz General Insurance
  • Leader in Customer Engagement Initiative – ManipalCigna Health Insurance ( Editor Choice Awards)

Also Read | Elets 7th BFSI CTO Summit: Underlining the significance of technologies

Small Finance Banks & Payments Bank:

  • Fastest Core Banking Implementation – Unity Small Finance Bank
  • Outstanding Contribution to Rural Community – Fino Payments Bank
  • Outstanding Payments Solution Provider – India Post Payments Bank


  • Champion of Financial Inclusion Initiatives – Mufin Green Finance
  • Excellence in Innovation & Emerging Technologies- Edelweiss Retail Finance
  • Excellence in Financial Services – U GRO Capital
  • Outstanding Customer Engagement Initiative – MoneyBoxx
  • Outstanding Use of technology in Lending – LoanTap
  • Excellence in Innovative Product Technology – mPokket
  • Excellence in Innovation & Customer Engagement Initiative – FedFina
  • Champion of Financial Inclusion Initiatives – Arth Padarth Factors Finance (editor’s choice)
  • Excellence in Innovation & Emerging technologies – Arthan Finance (editor’s choice)


  • Disruptive Innovation Award – CERF Solutions Private Ltd.
  • Leader in Data Transformation Solution – LUMIQ
  • Outstanding Security Testing Provider – Entersoft Security
  • Innovative Reconciliation Solutions – CredenTek Software Consultancy Pvt. Ltd.
  • Digital Service Innovator: BOTm: Mobile Testing Nirvana (editor’s choice award)
  • Network Transformation Leader – Nexapp Technologies (editor’s choice award)

We congratulate all the winners and their efforts towards impacting the BFSI industry and look forward to more innovations in the next editions.

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