About the awards
The Banking Innovation Awards is a global competition that showcases the most exciting and effective innovations that are taking advantage of emerging technologies and responding to the disruption and opportunities in banking. And once again, we have partnered up with Infosys Finacle to make the awards even bigger and better in 2025!
The awards are credible. There is no charge to participate and winners are determined by a rigorous, independent judging and voting process. The awards ceremony is recognized as the premier annual gathering of banking innovators and their ideas worldwide
Why enter?
- Help promote a culture of innovation in banking
- Achieve the recognition of your colleagues
- Be acknowledged by your industry peers
- Gain public acclaim for your organization as an innovation leader
- Network with other executives who are driving innovation
- Benchmark your innovation against those of other bankers
- Be inspired by the creativity and boldness of your peers
Our criteria
An innovation committee shortlists the best innovation in each category based on 4 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. This includes KPIs such as RoI, NPS, cost reduction, churn rate, employee engagement score, customer lifetime value (CLV), time reduction, carbon footprint, etc.
Universality: The innovation’s potential to be relevant and/or adapted for use in other markets, or even industries.
Form quality: A detailed description of the project in its various phases, its results, and the addition of presentation slides, videos or images to visualize and better understand the project.
Key dates
Categories
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Business Model Transformation
Creative new products and initiatives that transform the bank’s business model to expand or redefine its role in the evolving ecosystem. This category aims to acknowledge banks that have spearheaded transformative efforts to compete in the realm of "new-age banking". This includes scaling novel models like a digital-first proposition, embracing embedded finance, marketplace banking, super apps, BaaS, and similar innovations.
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Core Offering Innovation
This category showcases innovative products and offerings, developed independently or through collaborative partnerships, that match customers’ evolving digital lifestyles to foster sustainable growth. These include breakthrough concepts that dramatically enhance, transform, or tailor the banks’ offerings to specific market segments across products such as deposits, credit, payments, investments, and advice.
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Future Workforce
This category recognizes pioneering transformative initiatives that shape the future of their workforce. These projects cover changes to the work, workforce, employee experience, and overall organization culture in preparing for tomorrow, and include the use of data, technology, and new approaches to ensure employees are empowered and upskilled by machines, and how work is organized, performed, measured and managed.
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Neobanks & Fintech Players
This category is reserved for banking start-ups, digital spinoffs of incumbent banks, and technology firms working within the banking industry. Initiatives cover the creation and/or application of innovative technology that enhances customers’ banking experience and/or develops new sources of revenue for the industry. Innovations must be stage-one funded, have a market release proposition, and/or have completed a successful market PoC.
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Operational Excellence
This category awards banks that have successfully navigated the complexities of process re-engineering and smarter operations, laying the groundwork for profitable growth. Initiatives cover scalable processes that drive improved efficiency to support a faster pace of growth for the bank’s revenue stream and asset base than for its overhead costs.
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Reimagining the Customer Experience
This category showcases initiatives that leverage a variety of digital technologies to effectively engage clients, fostering a customer-centric approach that elevates loyalty, satisfaction, and advocacy. This includes significant enhancements in the bank’s marketing, sales and distribution, and management of customer channels, communications, engagement and relationships.
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Social, Sustainable & Responsible Banking
This category honors banks that are inspirational in their approach to ESG within their organization and in the development of appropriate customer offerings to meet these emerging needs. This includes innovations that advance the bank’s social purpose and its commitment to being a good corporate citizen and a true ally of its customers in their journey.
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Last but not least... special awards categories for 2025
EMERGING TECH INNOVATION OF THE YEAR
Innovations leveraging modern technology. The convergence of game-changing technologies such as Cloud, Gen AI, Blockchain, Open APIs, IoT, and Mixed Reality brings our imagination of tomorrow’s banking to life. Better technology is always at the heart of every organization’s quest to provide future-ready offerings. This particular award will recognize banks that inspire better banking by architecting the future by making the most of emerging technologies. Think of the new possibilities powered by Cloud, AI, Blockchain, Open APIs, IoT, and Mixed Reality. You cannot submit your innovation in this category, with nominees selected from the seven awards categories above.
TRANSFORMATIVE INNOVATOR OF THE YEAR
The winner is a bank or banking group that has successfully achieved a best-in-class transformation approach to create and deliver tangible value. Their corporate vision also commits it to continuous innovation and a journey of digital transformation to ensure the organization remains relevant, agile, and capable of adapting to the ever-evolving business landscape. You cannot submit your innovation in this category. There is a separate application form, and you must have submitted at least three innovations in any of the other seven categories to qualify.
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Get in touch
Want to get in touch regarding the submission process or invitations? Please write us at innovation@qorusglobal.com
