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Bank gains international recognition for 15th time

Baiduri Bank has been recognised as the ‘Best Banking Group for Brunei 2023’ for the 15th time by World Finance, a leading international financial publication based in the United Kingdom (UK).

World Finance congratulated Baiduri Bank for a record year and shared, “Baiduri Bank continues to see healthy growth in its operating profits and key financials. The bank is going big on innovation by adopting new technologies and continuously enhancing its digital offerings, including its award-winning mobile banking app.”

The financial publication also commended the bank on its corporate social responsibilties commitments through skills development, financial education and community empowerment.

“Consumer behaviour has been rapidly evolving, and this is accelerated further by COVID-19. To remain agile and stay ahead in a changing industry, it is important that we continue to make strategic investments in emerging technologies to unlock new and innovative value-driven opportunities,” said Baiduri Bank Chief Executive Officer Ti Eng Hui.

He attributed the win to the bank’s continuous efforts in providing better banking experience for its clients. “We are modernising and innovating on current infrastructure – actively deploying modern technologies including artificial intelligence (AI), machine learning, Robotic Process Automation (RPA) and new microservices to automate existing workflows.”

Baiduri Bank signed an agreement with Temenos, the world’s leading open platform for composable banking last year to be the first bank in Brunei to operate its core banking platform in the cloud under the Software-as-a-Service (SaaS) model.

File photo of Baiduri Bank headquarters. PHOTO: BAIDURI BANK

The bank will also be the first bank in the country to modernise its credit risk management using AI, in collaboration with Accel backed finbots.ai, a SaaS FinTech company based in Singapore.

The bank is taking significant strides in ensuring that the organisation, especially its people, is ready to support its digitalisation aspirations, accelerating its investment in human resources and talent management.

The bank has also been commended on its ongoing efforts to be a Learning Organisation, with special focus on re-skilling and up-skilling its people. This means identifying, developing and nurturing talents to be potential leaders in an ever-changing environment.

“At the core of our success are our people. Our digital transformation journey will undoubtedly bring about shifts in the ways of, which can open up opportunities in other areas such as data analytics, AI, machine learning and other emerging technologies,” said Ti.

“We would like to thank our stakeholders, our business partners and our customers for the trust and support they have given us over the years. We are proud to be a multiple-award winning and 100 per cent locally owned bank. We will strive to offer the best banking experience and co-create a better, more sustainable future for our customers,” he added.

World Finance is a quarterly print and online magazine providing comprehensive coverage and analysis of the financial industry, international business and the global economy.

Founded in 2004, the magazine targets an audience of finance professionals, and corporate and private investors, but its lucid voice makes it intelligible and essential reading for anybody who wants to understand the machinations of finance in the 21st Century.

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