Infosys Finacle, a world leader in the supply and service of artificial intelligence and software, organizes the “Infosys Finacle Innovation Awards-2021” annually. Golomt Bank won the “COVID Response Innovation” category for SocialPay digital wallet and Robotic Process Automation (RPA) systems. Banks and financial institutions from 50 countries competed for the seventh annual event and Golomt Bank has been named for the third year.

Golomt Bank introduced “SocialPay” digital wallet in 2017 and it is widely used in the banking and financial sector and has become one of the leading Fintech applications in Mongolia. We have strengthened our position as a leader in the Mongolian banking and financial sector, especially the digital banking sector, by focusing on the health and safety of its customers during the pandemic and accelerating the pace of digital transition. Golomt Bank has been named the “Best Digital Bank of Mongolia” for the third consecutive year by the Global Finance, an internationally renowned magazine.

Given the backdrop of the global pandemic, the category of COVID Response Innovation was newly introduced this year. An expert jury comprising global banking and technology leaders evaluated the nominations based on the performance of banks during the pandemic, the measures taken, the introduction of advanced products and services, its advantages and accessibility. Commenting on the innovations nominated for the awards program, Sanat Rao, Chief Executive Officer and Global Head, Infosys Finacle said, “The nominees and winners in the Infosys Finacle Innovation Awards-2021 clearly display efforts in this direction, creating some of the most impactful technology-led banking innovations around the world. The scale and variety of nominations this year indicate the sustained investment and focus on innovation by banks worldwide”.