> SCOTTISH FRIENDLY: BEST MUTUAL INSURER UK 2020
Glasgow-based mutual Scottish Friendly has a 150year legacy of helping families hedge against the unexpected and invest for a financially secure future. The firm offers financial products including life insurance, bonds and investment or Junior ISAs (individual savings accounts). Scottish Friendly has grown into one of the UK’s largest mutuals, with a recent landmark acquisition that doubled its assets under management — now at over £5bn — and pushed membership to some 700,000 policyholders. The deal, which was two years in the making, supports the firm’s three-
pronged strategy of organic growth, outsourcing partnerships, and consolidation. As a mutual, Scottish Friendly is beholden not to shareholders but to its policyholders, and company profits are reinvested for members’ benefit. The firm advocates for financial inclusivity and offers to help clients “navigate the monetary maze” of saving and investing. It conducts focus groups and applies feedback to align products and services to customer demand. Scottish Friendly has incorporated client suggestions and rolled out a new app with improved functionality,
flexibility and speed. The firm’s continuous improvement has garnered a fresh following of younger, more tech-savvy membership — as well as recognition. In 2019, the small firm was named Best Mutual Insurer and Best UK Junior ISA Provider in the CFI.co and Investment Life and Pensions Moneyfacts awards programmes. Despite a risk-averse environment, Scottish Friendly anticipates profits and growth in line with previous years. The CFI.co judges declare Scottish Friendly the repeat winner of the Best Mutual Insurer UK award — this time for 2020.
The Access Bank UK has a strategic network -with headquarters in London and offices in the financial districts of Dubai and Lagos -to facilitate international trade and alleviate risk for import and export clients. Trade is the Access Bank UK's key revenue engine, and it continues to fuel the growth of the subsidiary and its parent, the Nigerian Access Bank Group. Trade revenue grew confidently due in part to expansion and increased activity in Ghana, Kenya, Tanzania, Angola, the Middle East and Asia. The bank has captured a sizable
share of the market through its Dubai branch, with a notable revenue increase. The bank has achieved this by following a moderate-risk strategy while earmarking profits to spur continuous improvement. Investment and infrastructure costs rose , including a faster payments system through an innovative fintech partnership. The bank further strengthens its appeal with outstanding customer service. It attracts the highest calibre of professionals by recognising and rewarding talent. Its low turnover allows managers to build lasting
relationships with clients, and support their trade interests across multiple jurisdictions. Due to the bank's extensive reach and reputation, it has been chosen as a trusted partner of the Organisation for Economic Co-operation and Development and the International Finance Corporation. It is also a repeat winner in the CFl.co awards programme. For its steady management and robust credit profile, the judges present The Access Bank UK with the 2020 award for Best Africa Trade Finance Bank.
> THE ACCESS BANK UK LTD: BEST AFRICA TRADE FINANCE BANK 2020
> FIDUCIARIA CENTRAL: BEST REGIONAL SOCIO-ECONOMIC IMPACT FINANCE LATIN AMERICA 2019
MR OSCAR MARÍN: OUTSTANDING CONTRIBUTION TO SOCIO-ECONOMIC DEVELOPMENT COLOMBIA 2019
From its headquarters in Bogota and Medellin, partners with national clients and international investors to spur the socio-economic development of Colombia. As a subsidiary of IDEA (Institute for the Development of Antioquia), Fiduciaria Central is a crucial partner for projects spanning the sectorstrata of hotel tourism, real estate, and various commercial enterprises. Since its inception in 1992, Fiduciaria Central has established a positive and prevalent presence in Colombia, covering departments and municipalities unlike any other company. The fiduciary’s versatile lineup of products and services includes investment fund management, representation of bondholders and administration of pension liabilities, amongst others, but its overarching goal is to serve as 92
a financial facilitator between businesses by “untying knots in the economic process”. Oscar Marín, Fiduciaria Central President since 2016, spearheaded the bank’s acquisition in his former capacity as IDEA Management during the early 2000s. Marín’s political career experiences before joining the fiduciary gave him an understanding of service leadership that now permeates the corporate culture. Fiduciaria Central’s highimpact projects have boosted economic growth and strengthened national infrastructure. Marín levers the fiduciary’s widespread presence to apply financial inclusion strategies that help lower-income families become homeowners and generate jobs for indigenous communities. Care is a recurring theme throughout the CFI.co | Capital Finance International
fiduciary’s playbook, whether it’s looking after the wellbeing of employees and their families or collaborating with regional authorities to create support systems for the local population. Good corporate governance is a constant, and Fiduciaria Central manages to balance the need for corporate transparency with respect for client and staff confidentiality. Marín and his team were rewarded for their efficient portfolio management with an upgraded rating of AAA in 2019. The CFI. co judging panel recognises Fiduciaria Central’s sterling performance with the 2019 award for Best Regional Socio-Economic Impact Finance (Latin America) and Mr Oscar Marín with the 2019 award for Outstanding Contribution to Socio-Economic Development (Colombia).