This award comes at a particularly momentous time as Baiduri Bank celebrates its 30th anniversary this year. Reflecting on three decades of excellence, co-creation, and innovation, the Bank's recent achievements are a testament to its commitment to leveraging technology to enhance customer experience and drive financial success.

The Bank's success is largely attributed to its pioneering AI-led approach to credit risk management, becoming the first in Brunei to implement such a strategy. Partnering with Singapore-based FinTech company finbots.ai, Baiduri Bank has enhanced its credit risk management, especially in retail and SME lending, through the innovative AI-powered credit modelling tool, creditX. This collaboration highlights Baiduri Bank's commitment to effectively leveraging technology to improve efficiency and customer experience.

Baiduri Bank's digital innovation is also evident through its partnership with Temenos for cloud-based core banking services, making it the first bank in Brunei to operate its core platform in the cloud under a Software-as-a-Service model. This strategic move has positioned the Bank for future growth and improved service delivery.

Other significant technological initiatives include the launch of Baiduri Qpay, a digital wallet enabling UnionPay Debit Cardholders to make seamless payments both locally and abroad. Furthermore, the introduction of the eMarketplace initiative, Maribali, provides a secure and convenient online platform for local MSMEs to showcase and sell their products and services, demonstrating the Bank's support for local businesses and Brunei’s Digital Economy Masterplan 2025.

In addition to these technological advancements, Baiduri Bank maintained its issuer credit rating of A-/A-2 with a Stable Outlook from Standard & Poor’s (S&P) Global Rating in July 2023. This achievement highlights the Bank’s stability and reliability, cementing its position as a systemically important bank in the country.

The Asian Banker lauded Baiduri Bank for its continuous efforts in enhancing customer experience through digital transformation and innovative solutions.
 
According to The Asian Banker: “Baiduri Bank implemented various technology initiatives to support its retail sector that saw significant revenue growth of 13%, increase in customer base and robust performance in retail lending.”

Ti Eng Hui, CEO of Baiduri Bank and Manuel Bulens, Deputy Chief Executive Officer, Consumer Banking attended the awards ceremony held in Hong Kong, as part of The Asian Banker Summit 2024. The event is a leading event for financial industry professionals, focusing on key trends such as digitalisation, cybersecurity, and sustainable finance. It features specialised conferences, roundtables, and networking opportunities to foster collaboration and insights on the future of the financial sector.

Speaking on the award, Ti Eng Hui, CEO of Baiduri Bank, said, “This prestigious recognition for the second consecutive year is a testament to our unwavering commitment to innovation and excellence. Our ongoing investment in advanced technologies and customer-focused solutions drives us to continually improve and evolve. Celebrating our 30th anniversary this year, we are more committed than ever to enhancing our services to meet the changing needs of our customers and support their financial success.”

The TAB Global Excellence in Retail Financial Services Awards is one of the most rigorous and established awards in the industry, recognising exceptional innovation, leadership, and performance in retail financial services globally.For more information on Baiduri Bank, please follow the Group on its social media channels or visit www.baiduri.com.