Each advance in technology opens doors for new approaches and ideas. This year’s innovators in finance show the range of problems being tackled.
The Innovators 2017 is Global Finance’s fourth annual list of the most innovative new financing solutions and deals covering corporate finance, foreign
exchange, trade finance, transaction services and Islamic finance. To find the Innovators 2017, our editorial team assessed and then chose those who made the most trailblazing differences or biggest milestones in their respective fields.
For the Corporate Finance Innovators we looked at companies that have pulled off innovative financing deals, with either equity or debt capital, that create value for the firm through investing in certain projects while maximizing shareholder value.
In addition to multinationals celebrated for undertaking innovative corporate finance deals, we also mention the banks and advisors involved who helped make them happen.
For the Foreign Exchange Innovators we looked at the foreign exchange banks and services firms that devised breakthrough products and enhanced services that are transforming how companies implement complex FX strategies and limit currency risk.
Automation, software and technology have made forex an area ripe for fintech disruption, and our list of innovators shows that this trend continues.
Transparency and trust are key concerns of our Trade Finance Innovators, as distributed ledgers become a key area of innovation. With its promise of immutability, blockchain is capturing the attention of fintechs, banks and others involved in trade transactions. The speed with which blockchain innovators are moving from proof of concept to production, moreover, shows the benefits it will bring to a digitized supply chain that crosses borders and industries.
Our Transaction Services Innovators are providing the most up-to-date and complete business intelligence to their clients—enabling them to make the best possible strategic decisions. Being able to know where cash is at any given time is a boon to modern treasury departments, as is the need to automate treasury functions, so technology is key to how banks deliver both cash and treasury management solutions.
Finally, our Islamic Finance Innovators include both finance and tech innovations that improve infrastructure, banking and finance solutions for Islamic finance institutions and their customers. Embracing new technology has been a key reason behind the growth of Islamic finance and a valuable source of alternative finance for Islamic businesses.
METHODOLOGY
Featuring global companies, technology providers and financial institutions, our honorees were assessed and chosen by Global Finance editorial staff having received submissions from financial institutions, nominating either themselves, a client or a partner firm. This year’s submissions came from banks, financial institutions and technology providers from around the globe, which formed the backbone of our research into the groundbreaking organizations that are disrupting the marketplace and engendering new solutions in their sectors. Nominations were for either a Product or a Process Innovation, as defined by the OECD’s Oslo Manual of Innovation. Product Innovation applies to a good or service that is new or significantly improved. “Significantly improved” means a groundbreaking change was made to the product. Process Innovation applies to a new or significantly improved method of production or delivery. In both cases, the change needed to have been made, or new product launched, within the last year. Submittors were asked to specify why the nomination was new and innovative and how it solved a problem for the firm or its clients, as well as describe its origin or inspiration and the process from conception to product launch. Finally, applicants were asked how internal resources are allocated to encourage innovation.
This year’s submissions came from banks, financial institutions and technology providers from around the globe, which formed the backbone of our research into the groundbreaking organizations that are disrupting the marketplace and engendering new solutions in their sectors.
Nominations were for either a Product or a Process Innovation, as defined by
the OECD’s Oslo Manual of Innovation. Product Innovation applies to a good or service that is new or significantly improved. “Significantly improved” means a groundbreaking change was made to the product.
Process Innovation applies to a new or significantly improved method of production or delivery. In both cases, the change needed to have been made, or new product launched, within the last year.
Submittors were asked to specify why the nomination was new and innovative and how it solved a problem for the firm or its clients, as well as describe its origin or inspiration and the process from conception to product launch. Finally, applicants were asked how internal resources are allocated to encourage innovation.
