Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, and Qorus, a global association of banks and insurance companies, today announced their collaboration to host the 11th edition of the Qorus-Infosys Finacle Banking Innovation Awards. The awards aim to recognize and celebrate the most innovative ideas and initiatives across the banking business from banks worldwide. The collaboration expands on the annual Qorus-Infosys Finacle Retail Banking Innovation Report, creating a holistic approach that encompasses the entire innovation lifecycle – from identification and evaluation to recognition and reporting of global banking advancements.
The 11th Edition of Qorus-Infosys Finacle Banking Innovation Awards accepted entries from banking and financial institutions worldwide across the following seven categories:
• Business Model Transformation
• Core Offering Innovation
• Future Workforce
• Neobanks & Fintech Players
• Operational Excellence
• Reimagining the Customer Experience
• Social, Sustainable & Responsible Banking
The entries will be assessed based on originality of ideas, their long-term strategic impact and return on investment, and their potential for broader application in other markets and countries. Winners will be selected by an independent panel of judges comprising senior leaders in the banking industry globally and through online votes by executives from financial services institutions across the world. The announcement of winners will take place on October 08, 2024, through an awards ceremony.
2024 banking trends and innovations: Insights from Sajit Vijayakumar, CEO of Infosys Finacle
Sajit Vijayakumar, Chief Business Officer and Global Head, Infosys Finacle, said, “Banking leaders today face the challenge of keeping pace with change to ensure their organizations continue to have an edge. Innovation and transformational initiatives thus become crucial for embracing new-age banking. The Qorus-Infosys Finacle Banking Innovation Awards is a celebration of the exceptional banking innovations globally. The awards embody our deep collaboration with Qorus and Infosys Finacle's commitment to fostering innovation and inspiring better banking, which will help billions of people and businesses to pay, borrow, save, and invest better.”
John Berry, Chief Executive Officer, Qorus, said, "Innovation is more important than ever in the banking industry today, driving growth and meeting ever-evolving customers’ expectations. For over a decade, Qorus has strived to highlight the cutting-edge innovations and banks that have inspired the entire industry with their breakthrough initiatives and performances. We are delighted that a global leader like Infosys Finacle sees the value of our efforts and has put its weight behind the awards and the critical role they continue to play as a catalyst for transforming banking for the better.”
Since its inception in 2013, the Banking Innovation Awards have served as a platform to spotlight the most compelling and impactful innovations, leveraging emerging technologies to navigate the disruptions and opportunities in the banking industry. Last year, the awards received more than 450 entries from 61 countries, with applicants ranging from agile start-ups to the world’s largest financial institutions.
