Srinagar, March 17: Adding another milestone to its illustrious achievements, Jammu and Kashmir Bank today bagged Best Technology Bank of the Year Award presented by India Banks’ Association (IBA) for the year 2019-20. The bank also was runner up in the category of Best Digital Financial Inclusion Initiatives Award.
The Bank’s Chairman and Managing Director R K Chhibber received the award from IBA- an association of 249 banks operating in India-in a virtual award ceremony held today.
Notably, IBA’s 16th Annual Banking Technology Awards are aimed at recognizing the best-of-the-breed Indian banks across various categories. The awards have assumed more significance in Banking industry as India enters a fast paced digital revolution.
J&K Bank was chosen for the top award by jury comprising of experts, stalwarts and senior functionaries from the banking industry.
Expressing his happiness over the awards what he termed was a recognition for J&K Bank’s relentless efforts to upgrade its technology and information security, the CMD said, “We see the awards as an acknowledgement from the stalwarts of banking industry and feel humbled by the recognition. It is a major award and will boost our focused efforts to increase our digital footprint across our operational geography.”
He stated that in today’s age technology was playing critical role in expanding the scope and scale of banking and financial services in the country.
“Technology has democratized the financial landscape to a great extent and we see technology as one of the great enablers of financial inclusion besides enhancing the operational efficiency of the banks in general. As a futuristic financial institution we too will continue to invest our best resources to develop robust technological frameworks focused on cyber security besides keep on fine tuning the digital offerings.”, he said.
Remarkably, J&K Bank has created a niche in Information Technology and Cyber Security domains, emerging as a leader among the peer banks having bagged CSO 2019 Award by IDG ltd, Cyber Sentinel 2020 by Enterprise IT World as well as 6th Innovative CIO Award 2021 award by CIOAXIS.