Alawwal bank awarded ‘CEO of the Year in Retail Banking’ after a successful year of innovation

Alawwal bank Managing Director, Soren Nikolajsen, has been awarded ‘CEO of the year in Retail Banking’ at the Enterprise Agility Awards, 2018 held in Dubai. The award recognises a year of continuous improvements by the bank, investing in new digital services and modernising its branch network to make it easier for customers to manage their day to day financial needs. 

Soren Nikolajsen, Managing Director of Alawwal bank, said: “The Enterprise Agility Awards celebrate the spirit of entrepreneurship, recognising many exciting new businesses that are shaking up the market. For a 92 year-old bank like ours to be awarded alongside such pioneers shows you’re never too old to innovate and be creative. 

This latest award recognises leadership skills that has established the bank as a leading innovator in the financial service industry in the Middle East. Alawwal bank’s investment in retail banking and its digital services has led to tangible improvements in customer experience.  The bank now boasts some of the Kingdom’s most modern branches, rolling out popular services like instant account opening and card issuance. Services that were originally piloted in its revolutionary digital café branch IBDA in Riyadh. Alawwal bank also expanded on its market leading range of digital services by introducing effortless access to its mobile app via facial recognition and fingerprint ID. 

Nikolajsen added: “We’ve had an exciting year of innovation, creating a lot of new services our customers really enjoy using. That takes a lot of hard work. Getting new ideas off the ground requires creativity, determination and collaboration between many individuals and teams. I am therefore very pleased to receive this award on behalf of everyone at Alawwal bank. Our team’s determination to do what’s right for customers is what drives us to be a better bank.” 

Alawwal bank’s commitment to innovation has been recognised several times throughout 2018. Other industry awards this year include the Global Banking and Finance Review awards ‘Best Cash Management Solutions Bank’ and ‘Best Innovative Banking Initiative (IBDA)’ in Saudi Arabia. The bank was also awarded ‘Best Private Bank’ and ‘Most Innovative Bank’ in KSA at this year’s Banker Middle East Awards.  

The Enterprise Agility Awards were organized by Entrepreneur magazine (BNC group) to celebrate those making a prominent contribution to the region’s business community.