The City of Canterbury Bankstown has been recognised as one of Australia and New Zealand's most innovative companies for its work in waste management services.

The prestigious annual list, published by The Australian Financial Review and Boss Magazine, is based on a rigorous assessment process.

Canterbury-Bankstown Mayor Khal Asfour said Council was honoured to have been ranked first in the Government, Education and Not for Profit list* and the Best Internal Innovation award.

"This is an incredible achievement and really shines a light on the amazing things Council is doing for the betterment of our community," Mayor Asfour said.

"The City of Canterbury Bankstown is truly a leader in innovation and this win only makes us hungrier to keep stepping out of the box and try new things. After the year we have had, this is a bittersweet victory for all the residents of our City."

Council has been recognised for its award-winning Closing the Loop on Waste program, which transformed waste operations thanks to the use of world-first custom artificial intelligence.

Council's Digital Innovation Program Manager, Petrhyce Donovan said the program gave staff access to vital real-time data, helping them to more closely examine the contents of resident's bins and increasing visibility of recycling contaminants by 74 per cent.

"Even better, it now takes just 14 days to check all bins across the City – that is 130 times faster than the old process," Mrs Donovan said.

"From taking five years, to just two weeks, this AI-led solution has meant that staff who were wandering the streets at 5am in the dark to check bins, can now spend their time engaging with and educating residents in more meaningful ways."

CBCity General Manager, Matthew Stewart said Council has been working smart for years.

"I thank the Australian Financial Review for recognising the hard work of our more than 1,500 staff, who have put in each and every day to be – what we cannot officially say – is one of Australia's Most Innovative Companies," Mr Stewart said.

To learn more about the program, visit cb.city/ClosingtheLoop