News
FINANCE DERIVATIVE NAMES THE WORLD’S BEST FINANCIAL INSTITUTIONS AND BANKS ‘20 IN NETHERLANDS ON DECEMBER 31, ‘20

On December 31st, Finance Derivative announced the Awards ’20 in Netherlands. The overall winners for Health Insurance Banks, Internet, Retail, SME, Innovative Banks and Forex Broker and Asset Management Company were announced. Also announced were the overall Global sub-category winners. The grand prizes of World’s Worthy Winners came across this year ’20.
A full report will appear in the December ’20 covering winners list in individual countries and regional sub-categories. Finance Derivative’s Awards are based on submissions from banks that wish to be considered. This year, nearly 300 individual banks from around the world entered the competition. The Awards judging panel was comprised of representatives from global leader in consulting, technology and outsourcing solutions. Based on the judge’s evaluations, Finance Derivative’s editors made the final selections.
Winners were selected based on strength of strategy for attracting and servicing online customers, success in getting clients to use digital offerings, growth of online customer base, breadth of products offered, evidence of tangible benefits gained from digital initiatives, and website design and functionality. Subcategory winners were selected on the basis of relative strength, products and services.
The list of winners announced in Netherlands follows in page 1 of 2.
For editorial information please email: info@financederivative.com
Winners | Award Title |
Aafiya TPA Services | Best Third Party Administrator – Healthcare UAE 2020 |
Ahli United Bank B.S.C., | Best Retail Bank Bahrain 2020 |
Alkhabeer Capital | Best Private Equity Firm Saudi Arabia 2020 |
Arca Fondi | Best Digital Wealth Management Italy 2020 |
AsiaPay | Best Digital Payment Solution Provider Singapore 2020 |
Banco Industrial, S.A. | Best Retail Bank Guatemala 2020 |
Banco Industrial, S.A. | Best Mobile Banking Application Guatemala 2020 |
Bank Nizwa | Best Islamic Banking CEO Of The Year Oman 2020 Khalid Kayed |
Bank Nizwa | Best Islamic Banking Services Oman 2020 |
Bao Viet Securities | Best Corporate Governance Company Vietnam 2020 |
Being She | Most Influential Women of the Year UAE 2020 |
BlackStone Futures (pty) ltd | Most Innovative Forex Broker South Africa 2020 |
Capital Trust S.A. | Best M&A Advisory Chile 2020 |
Cellcard (CamGSM Co Ltd) | Fastest Mobile Network Company Cambodia 2020 |
Cellcard (CamGSM Co Ltd) | Best Mobile and Digital Lifestyle Provider Cambodia 2020 |
China Asset Management Company | Best Asset Management Company China 2020 |
CI Asset Management | Best Asset Management Company Egypt 2020 |
Commercial Bank of Ceylon PLC | Best Digital Bank Sri Lanka 2020 |
Commercial Merchant Credit (Pvt)Ltd. | Fastest Growing Finance Service Company Sri Lanka 2020 |
COSCO SHIPPING Ports Ltd | Best Port Operator Hong Kong 2020 |
COSCO SHIPPING Ports Ltd | Best Investor Relations Company Hong Kong 2020 |
ČSOB Private Banking | Best Private Bank Czech Republic 2020 |
Fast Cover Travel Insurance | Best Customer Centric Travel Insurance Company Australia 2020 |
Fast Cover Travel Insurance | Best Comprehensive Travel Insurance Company Australia 2020 |
Fosun Hani Securities Limited | Fastest Growing Financial Institution Hong Kong 2020 |
Fosun International Limited | Best Innovation-Driven Consumer Group Hong Kong 2020 |
Taipei Fubon Bank | Most Customer Centric Bank Taiwan 2020 |
Taipei Fubon Bank | Best Digital Wealth Management Bank Taiwan 2020 |
Taipei Fubon Bank | Best Investment Bank Taiwan 2020 |
FUTURE FX | Best Forex Customer Service Provider UAE 2020 |
FXPRIMUS | Best Forex Broker South East Asia 2020 |
Genero Capital LLC | Best SME Financing Advisor MENA 2020 |
Greenstone Equity Partners | Best Fund Management Company UAE 2020 |
HFTrading | Most Secured Trading Platform Australia 2020 |
ING Maggie | Best Retail Bank CZECH REPUBLIC 2020 |
IS Bank | Best API Provider Bank Turkey 2020 |
JFD Group Ltd | Best Retail Brokerage Services Western Europe 2020 |
MAGIC FINSERV | Most Innovative AI-ML Technology service provider for Asset Management USA 2020 |
Mashreq | Best Transactional Bank UAE 2020 |
Metropole Property Strategists | Best Property Consultants Australia 2020 |
Mitrade | Most Innovative Online Broker Australia 2020 |
MultiBank Group | Best FX Trading Platform MENA 2020 |
Nan Shan Life Insurance Co. Ltd. | Best Life Insurance Company Taiwan 2020 |
National Development Bank PLC | Best Domestic Bank Sri Lanka 2020 |
National Development Bank PLC | Best Retail Bank Sri Lanka 2020 |
National Development Bank PLC | Best Corporate Bank Sri Lanka 2020 |
National Development Bank PLC | Best Bank For Empowering Women Customers Sri Lanka 2020 |
National Development Bank PLC | Best Bank For Marketing Campaign (NDB Araliya) Sri Lanka 2020 |
National Development Bank PLC | Best Bank for Project and Infrastructure Financing Sri Lanka 2020 |
National Development Bank PLC | Best Bank For Digital Financial Channels Sri Lanka 2020 |
ndgit GmbH | Fastest Growing API Banking Platform Provider Germany 2020 |
OINVEST | Most Innovative Online Trading Broker SouthEast Asia 2020 |
Pacífico Seguros | Best Insurance Company Peru 2020 |
People’s Bank | Best Commercial Bank Sri Lanka 2020 |
Petsy Pty Ltd | Best Pet Insurance Company Australia 2020 |
Profile Software | Best Wealth Management Technology Vendor UK 2020 |
PT. Asuransi Allianz Life Indonesia | Best Sharia Compliant Insurance Solutions Provider Indonesia 2020 |
PVcom bank | Best Trade Finance Bank Vietnam 2020 |
PVcom bank | Best Credit Card (PVcomBank Mastercard) Vietnam 2020 |
Pyramedia | Best Media And Marketing Consultancy UAE 2020 |
Q8 Trade | Most Competent Trading Professionals MENA 2020 |
riyad bank | Best Corporate Bank KSA 2020 |
ROInvesting | Most Innovative Trading Platform Europe 2020 |
SeABank | Most Innovative Mobile Banking Product (SeAMobile) Vietnam 2020 |
Shorooq Partners | Fastest Growing Venture Capitalist Company UAE 2020 |
Standard Chartered Bank | Most Innovative Transaction Banking Oman 2020 |
The Jubilee Insurance Company Of Tanzania LTD | Best Insurance Company Tanzania 2020 |
TradeFW | Most Popular Trade Service Provider Europe 2020 |
Tradimo Interactive | Best Financial Education Technology Company Denmark 2020 |
uab bank Limited | Best Banking CEO Myanmar 2020- Christopher Loh |
uab bank Limited | Best Corporate Governance Bank Myanmar 2020 |
uab bank Limited | Best Bank Myanmar 2020 |
uab bank Limited | Best Corporate Social Responsibility Myanmar 2020 |
uab bank Limited | Best Banking Employer Myanmar 2020 |
Vietcombank Fund Management | Best Fund Management Company Vietnam 2020 |
Wema Bank | Best Retail Bank Nigeria 2020 |
Wema Bank | Most Innovative Digital Bank Nigeria 2020 |
101investing | Fastest Growing CFD Broker Europe 2020 |
About Us: Finance Derivative is a global financial and business analysis magazine, published by FM. Publishing. It is a yearly print and online magazine providing broad coverage and analysis of the financial industry, international business and the global economy.
Finance Derivative brings the latest News & Analysis from the finance world and corporate excellence. The magazine targets an audience of finance professionals, and corporate and private investors. With an accustomed team of professional industry Journalists, we bring a minute coverage on a comprehensive range of topics from the industry.
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News
FUNDS’ RUSH TO THE CLOUD MUST NOT BE A BOX TICKING EXERCISE

By Ed Gouldstone, Global Head of R&D for Asset Management at Linedata
The fund management industry has held up remarkably well against the strains of Covid-19 – from a dramatic spike in market volatility to the sudden shift to remote working. However, the quantum leap in digitalisation spurred on by the pandemic has underscored the disparities between fund houses’ journeys to cloud – some are quite far along, while others are quickly having to play catch-up.
However, the need to rapidly advance digitalisation efforts must not result in cloud migration becoming a box ticking exercise. Some managers may be tempted by the convenience of a ‘lift and shift’ approach. That is, simply building their cloud infrastructure as if it was their existing data centre without optimising it for cloud. This is by far the quickest option but, if rushed, it doesn’t necessarily bring the cost-saving and flexibility benefits that managers are looking for. Cloud provides for advanced levels of security that go beyond traditional deployed models, but only when the necessary tools are put in place. Fund managers therefore need to put in the required thinking beforehand, to ensure the optimisation and any necessary re-engineering of tools whilst accelerating shift to the cloud.
The risks of rushing cloud adoption
Elasticity is one particular area where cost savings come from in the cloud, because cloud is designed to scale up and down as and when you need it. When migrating infrastructure to the cloud, fund managers must ensure that the all applications are optimised in a way that enables horizontal scalability, as many legacy applications are built around a fixed number of servers. This could impede the potential to quickly scale up operations in rapidly changing markets, inhibiting fund managers’ growth ambitions and ability to compete.

Ed Gouldstone
Another risk of rushing the transition to cloud, is that a lift and shift approach can actually increase costs when computing and storage practises are not rationalised. Migrating existing infrastructure as it is also means migrating all existing inefficiencies along with it, such as zombie servers, duplicated workloads, and outdated records. By not doing the due diligence to ensure excess computing capacity is left behind, companies could seriously diminish the cost savings they would have otherwise enjoyed.
Building resilience into operations is of paramount importance for fund managers who are planning to migrate to the cloud. Although infrastructure is more secure with cloud, the greater accessibility it allows means that points of entry on the client side can be weak spots if not properly protected. This must not become overlooked in a rushed cloud migration. Unlike with private data centres and VPN access where hardware offers protection, extra layers of authentication need to be added to endpoints to ensure the security of the system, while enabling access from any device. This is even more necessary in our highly regulated industry, where fund managers are dealing with large client funds and processing vast quantities of real-time financial data.
Realising the opportunities provided by cloud
When handled correctly, a successful migration to cloud offers fund managers a great opportunity to drive digital transformation, scale their businesses and upgrade the technology they rely on. Perhaps the biggest driver for cloud adoption, the pay as you go, on-demand scalability offered by cloud providers, enables rapid growth and reduces costs. Previously, in order to scale up, businesses would have to install new hardware and pay for its maintenance, as well as acquire the physical space that new servers take up. This process is much slower and more expensive than the quickly scalable, pay-as-you-go cloud, but expert guidance is crucial to avoid the aforementioned risk of transferring excess computing power, and ensuring applications are scalable so that potential cost savings are realised.
Another major driver to migrate infrastructure to the cloud is the data analytics capabilities available. The cloud’s ability to support data lakes that can store structured and unstructured data at any scale and operate real-time analytics, provides unique opportunities to create new insights and therefore greater value. The data lakes enable better use of the artificial intelligence and machine learning technologies that are reaching maturity and are increasingly mission critical. This is crucial in a market where margins are getting smaller and traditional investment models are being challenged. Analytics can create value throughout all operations, from the front office through to the back office, whether it is sentiment analysis of client engagement, or reducing operating costs through process automation.
In terms of security, while moving to public cloud does imply some inherent loss of in-house control compared to historic ‘installed’ technology models, the bottom line is that cloud providers offer robust levels of security unmatched by in-house technology installations. But it is still critical that firms have the requisite knowledge about cloud deployment and cybersecurity, or partner with a technology service provider that does, who can protect endpoints with new identity and access measures such as two-factor authentication.
The need to migrate to cloud infrastructure has become more pressing at a time when fund managers are increasingly introducing flexible working for the long-term. While implementing a cloud first business strategy is now considered crucial for longevity, it must not be rushed at the risk of costly mistakes and the perpetuation of outdated operating models that limit adaptability. A rapid, productive cloud migration is still possible, but firms need to ensure they have well-considered plans and strong partnerships with experts in place to ensure success.
News
MORE THAN HALF OF EUROPEAN SMES CONFIDENT IN 2021 BUSINESS RECOVERY

- Finland most confident in Europe followed by France, UK and Germany – Spain, doesn’t show the same optimism
- Hope for the new year comes mainly from the agriculture (60%), real estate (58%), business services (55%), and food & drink (55%) industries
Despite continued uncertainty, 57% of SMEs across seven European markets feel positive about the future and think that economies will recover to pre-Covid levels within the next two years, according to a research conducted by CapitalBox, leading online pan-European SME funding platform.
A further 18% are still confident about a recovery, but believe it will take at least two years. However, when it comes to their own businesses’ recovery as opposed to the wider economies, over half of SMEs (51%) feel that their business will in fact recover this year, in 2021.
SMEs in Finland are the most confident in their own business recovery in 2021 (57%), compared to:
- 50% in France
- 50% in the UK
- 48% in Germany
- SMEs in Spain, with 27%, are the least confident in their own recovery
Optimism for the new year mainly comes from the agriculture (60%), real estate (58%), business services (55%), and food & drink (55%) industries. As hospitality looks towards a new normal in the new year, 52% are confident of their business recovery this year. The least optimistic industries for the new year are healthcare (28%) and wholesale, retail and franchising (31%).
Most of this optimism is reflected in how trusting SMEs are in their respective governments’ support. 53% of SMEs stated that they are certain their governments will continue to provide the right support going into 2021. The most confident in their government support are those most optimistic SMEs, in Finland (58%), France (51%), and the UK (55%). On the other hand, the least confident are SMEs in Spain, with 35% of respondents not feeling like their government will provide the right support moving forward.
Scott Donnelly, CEO of CapitalBox commented: “The pandemic continues to have a big impact on businesses and economic recoveries around the globe, and there is certainly a bumpy road ahead to get there. SMEs in Europe, however, are confident that this new year will bring positive changes, and that their businesses will return to growth. As the backbone of many economies, it is great to see SMEs being optimistic about the future and the ‘new normal’, putting effort into getting back on track.”
“As small and medium businesses look toward a road of recovery, it is critical that the right financing is available to them to help guide them. From government support to alternative lending, they need to feel confident in their recovery in 2021. At CapitalBox, we will always strive to help those financially underserved SMEs.”
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