Global Finance has awarded Baiduri Bank the title of the country winner in its annual World’s Best Banks 2023: Asia Pacific awards, marking the Bank’s eight consecutive win with the awarding body. All winners were honoured at an Awards Ceremony held during the IMF/World Bank Annual Meetings in Marrakech at the Meydene Theater on 14 October 2023.
Ti Eng Hui, CEO of Baiduri Bank, attributed the award win to Baiduri Bank’s continuous efforts and various initiatives to strengthen and diversify its income streams. He stated, “We achieved exceptional growth in profits, assets and deposits in 2022 despite the challenging economic climate, and this growth momentum continued to strengthen in 2023. I am also proud that our Corporate and Retail Banking businesses have shown strong resilience in revenues and business activities.”
He further elaborated on the Bank’s ongoing digital transformation journey. “We have also intensified our efforts in our digital engagement initiatives as we delve deeper into our digital transformation journey, making strategic investments in our core banking systems, emerging technologies and enhancing our capabilities in data analytics, product management, operational efficiency, and customer experience.”
Continuing to deliver digital-first experiences, the Bank has recently launched Baiduri Qpay, a digital wallet that allows its UnionPay Debit Cardholders to easily scan and pay at participating outlets both locally and abroad. This new feature adds to the suite of digital payment services offered by Baiduri Bank as part of its digital strategy, aligning with Brunei’s Digital Economy Masterplan 2025.
In August, Baiduri Bank also introduced a first-of-its-kind eMarketplace initiative in collaboration with a local SME. The turnkey digital solution Maribali (at
www.maribali.com.bn) offers a platform for local MSMEs to market and sell their products and services online with secure and convenient on-the-go payment options.
Baiduri Bank is the first bank in Brunei to offer cloud-based core banking services through its agreement with Temenos. Internally, the bank continues to deploy modern technologies such as artificial intelligence, machine learning, Robotic Process Automation (RPA) and new microservices to help automate existing workflows.
In a press release issued by Global Finance, the magazine also highlighted the Bank’s strengthened HR capabilities through its implementation of SAP’s SuccessFactors cloud-based human capital management system, and via initiatives such as its Leadership Academy and Emerging Leaders Mentoring Programme, underpinned by a commitment to employee wellness.
Founded in 1987, the US-based Global Finance has a circulation of 50,000 readers in 193 countries and territories. Global Finance is headquartered in New York, with offices around the world.
Global Finance regularly selects the top performers among banks and other financial services providers. All selections were made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world. These awards have become a trusted standard of excellence for the global financial community.
For more information on Baiduri Bank, visit
www.baiduri.com, follow the Bank’s social media accounts or call its 24-hour Customer Helpline at 244 9666.
