Indian Overseas Bank Wins Five Prestigious IBA Banking Technology Awards for 2024
Under the exceptional leadership of Shri Ajay Kumar Srivastava, Managing Director & CEO, IOB has made significant advancements across various technological dimensions in the past two years.
Chennai, January 27, 2025: Indian Overseas Bank (IOB), a leading Public Sector Bank headquartered in Chennai, has achieved a remarkable milestone by securing five prestigious awards at the 20th IBA Banking Technology Conference, Expo, and Citation 2024, organized by the Indian Banks’ Association (IBA).
Under the exceptional leadership of Shri Ajay Kumar Srivastava, Managing Director & CEO, IOB has made significant advancements across various technological dimensions in the past two years. The bank’s efforts have included:
- Enhancing its tech infrastructure and capabilities.
- Employing the best tech talent in the industry.
- Launching innovative digital products and services to enhance customer experience.
- Driving the digitalization of financial inclusion services.
- Adopting advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML).
- Strengthening data analytics, IT risk management, and digital fraud risk management.
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The Indian Banks’ Association (IBA), representing 248 banks and financial institutions across India, conducts this annual event to evaluate and recognize the technological excellence of its member banks. At this year’s conference held in Mumbai on January 24, 2025, IOB received the following awards in the Mid-sized Public Sector Bank category:
1. Best Tech Talent and Organization – Winner.
2. Best Financial Inclusion Technology – Runner-Up.
3. Special Mention Awards for:
• AI & ML Adoption
• Best Technology Bank
• Best IT Risk Management
With these accolades, Indian Overseas Bank reinforces its position as a front-runner in banking technology, dedicated to delivering innovation and excellence in the financial sector.
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This achievement marks the second consecutive year that Indian Overseas Bank has won five IBA Banking Technology Awards, continuing the legacy of its performance in 2023. Commenting on this accomplishment, Shri Ajay Kumar Srivastava highlighted the bank’s steadfast commitment to harnessing technology for enhancing customer experience, strengthening resilience, ensuring system security, and driving digital transformation.
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