LONDON, June 27, 2018 (GLOBE NEWSWIRE) -- A decade has passed since the financial crisis sent shockwaves throughout the global economy, but normal service has not been resumed quite yet. Debt levels are still high, interest rates are low and global growth remains subdued. Fortunately, however, there are causes for optimism.

Stability has largely returned and the banking sector has a demonstrated a newfound resilience even when faced with significant external challenges. While political turmoil in the European Union and Donald Trump’s erratic presidency in the US have undoubtedly shaken the financial markets, they have not derailed them.

The World Finance Banking Awards 2018 celebrates the institutions that can confidently proclaim they are part of a more responsible and sustainable industry than the one that existed ten years ago. Over the past 12 months, these organisations have helped set new benchmarks for the financial sector in terms of customer service and digital innovation.

On the latter front, the emergence of open banking standards has pushed banks into sharing data packages and digital tools with external partners. This represents both a regulatory challenge and a business opportunity. The sharing of application programming interfaces (APIs) between long-established banks and new, agile start-ups will benefit the entire industry regarding both collaboration and innovation.

In addition, technology is playing a key role in enabling banks to pursue new digital services, while continuing to defend their customers against instances of fraud. But if digital solutions will help combat cybercrime, they are also likely to result in fewer face-to-face interactions between customers and banking staff – something that is unlikely to please everyone.  

The banks that have the brightest future ahead of them, therefore, are those that are able to embrace innovation, without neglecting their core services. It is these institutions that we recognise in the World Finance Banking Guide 2018.

To find out more about our winners, check out our definitive guide, available online, in print and on tablet now:

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World News Media
Elizabeth Matsangou
Editorial Department
+44 (0)20 7553 4162