We identify and award the most innovative projects in the banking industry
The awards aim to highlight and share global best practices that will accelerate the transformation of banking for the better.
The Submission Phase
The Efma–Accenture Banking Innovation Awards aims to appraise and recognize the most innovative projects, initiatives and ideas in banking globally. Winners are awarded by their peers, with a rigorous, independent process ensuring the credibility of the awards.
Clearly present the problem you needed to solve; show how you used technology or an innovative idea to solve that problem; and highlight the results with both qualitative and quantitative success metrics.
Remember to directly address each judging criterion: originality, impact and universality. Mapping your key points to each criterion prior to writing your submission entries is a useful exercise
Proofread and edit your submission. While correct spelling and grammar are not criteria, a polished final submission will impress your peers, who have the final say regarding who wins.
Visuals, such as images, videos or screenshots of an application, can make your submission more engaging. Gather your best supporting materials to add as attachments.
Don’t be afraid to talk about your setbacks or challenges and how you overcame them through ideation and implementation. These stories spark inspiration.
Be specific, especially in your results. Use statistics and numbers to show growth or change.
This Year's Categories
Innovations that use data, analytics and AI at scale to improve the bank’s offerings, experiences and operations.
#CustomerAnalytics #ArtificialIntelligence #DataMonetization #DataDrivenPersonalization
Innovations that transform the bank’s awareness generation, positioning, lead management and conversion, and related customer communication.
#ContentPersonalization #ContentOptimization #NicheCustomerTargeting #NewCampaignConcepts #BrandAwareness #ProximityMarketing #Prospecting&Retargeting #Online&OfflineTrafficGeneration
Changes to work, the workforce and the employee experience. This includes the use of data, technology and new approaches to how employees are supported by machines and upskilled, and how work is organized, performed, measured and managed.
#WorkforceEmpowerment #HumanTouchinCustomerRelationship #DiffusedDigitalCulture #GamificationForBehaviouralChange #ContinuousLearning #EmployeeExperience #DigitalLearning #DigitalHR #Agile
The creation and/or application of innovative technology that substantially enhances customers’ banking experience and/or develops new sources of revenue for the industry. This category is reserved for banking start-ups and spinoffs, and technology firms working within the banking industry, whose innovations are stage-one funded, have a market release proposition, and/or have completed a successful market proof of concept
#Fintech #Attackers #Neobanks #PlatformBanks #IncumbentsThatLaunchNeobanks
Breakthrough concepts that dramatically enhance or transform the products or functions which generate revenue for banks, such as credit, payments, open banking and others.
#ValueAddedServices #NicheOrientedOffering #NewProducts #DigitalPlatform #CustomerOriented #OpenBanking #API #ThirdParties #MobilePayments #NFC #AccountToAccount #InvisiblePayments #Metaverse #CryptoCurrency #BuyNowPayLater
Significant enhancements in the bank’s distribution channels and its management of customer communications, engagement and relationships.
#DistributionModelInnovation #Metaverse #Omnichannel #DigitalTransformation #DigitalSales #ExperienceMeasurement #GeolocatedServices #SeamlessExperience #NewBranchLayout #MobileSales #SocialSales #DigitalSME #DigitalCorporate
Innovations that advance the bank’s social purpose and its commitment to being a good corporate citizen and a true ally of its customers.
#UniversalDesign #BarrierFreeBanking #FinancialInclusion #FinancialLitteracy #MicroCredit #SocialCrowdfunding #GreenBanking #Transparency #SocialImpact #EnvironmentalImpact
The Selection Phase
An innovation committee shortlists the best innovation in each category based on 3 criteria
Originality
The uniqueness of the idea in the marketplace and its potential as a gamechanger.
Impact
The innovation’s capacity to generate a superior, long-term competitive edge and a significant return on investment.
Universality
The innovation’s adaptability across different markets and countries.
The Voting Phase
The Efma–Accenture Banking Innovation Awards aims to appraise and recognize the most innovative projects, initiatives and ideas in banking globally. Winners are awarded by their peers, with a rigorous, independent process ensuring the credibility of the awards.
Jury members
Votes coming from the Awards Jury, which comprises senior banking executives from across the world, will represent 50% of the global score
Efma members
Efma members' vote account for 40% of the vote.
Efma Non-Members
Non members are also allowed to vote, but their vote will only account for 10% of the global vote.
Our Initiative in Numbers
A Global Awards Program
We celebrate innovation from all around the world. Discover where the most disruptive banking projects come from!
Testimonials
It’s amazing to see how your initiatives and work compare to other leaders in the space, and what you can take from their experiences to use it in your own work.
- Jackson Davey, Commonwealth Bank of Australia
We’ve got to learn a lot today about global innovation, best in class practices and experiences from banks and financial institutions from all over the world. Just hearing the insight from both Accenture; global specialists; It provides a ton of content and insight that we can all carry back home to our organizations.
- Peter Poon, Head, Digital Product Management, Bank of Montreal
Really nice to hear from across the industry, and really hear about best practice for areas where we might not be big players, and that really sparks ideas on our side as well. The process of actually submitting an idea genuinely moves the business forward.
- Andrew McCurrie, Head of Market Insights, Discovery
Our award, recognised our achievement at an industry level on an international stage. This gave us, as a team, a lot of credibility amongst our peers. It showed our colleagues what we were doing was not only important but also possible… in other words the award was recognition that we are, by doing things differently, able to deliver disruptive and game changing capabilities to our clients… and that’s not something we are saying but rather international organizations like Efma.
- Arno Von Helden, Head: Forex Solutions/CIB Global Markets, Standard Bank Group
Our Partnership and Values
A global non-profit organization, established in 1971 by banks and insurance companies, Efma facilitates networking between decision-makers. It provides quality insights to help banks and insurance companies make the right decisions to foster innovation and drive their transformation. Over 120 financial groups in 133 countries are Efma members.
Headquarters in Paris. Offices in London, Brussels, Andorra, Stockholm, Bratislava, Dubai, Milan, Montreal, Istanbul, Beijing, Tokyo and Singapore.
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 674,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities.
