About the program

These are exciting but tumultuous times for business. Ubiquitous digitization is giving way to fragmented value chains across industries. New technologies, new consumer expectations, new competitors and new regulations are challenging established business advantages on an ongoing basis. In this environment, enterprises must innovate continually to create value in order to enjoy sustained success.

The Infosys Finacle Client Innovation Awards program recognizes and celebrates the best of such innovations by clients around the world. These innovations have been carefully chosen for their impact on banking products and services, customer journeys, processes, distribution channels, and business models leading to additional revenue and profit for their respective banks.

Categories

Product Innovation

Nominate your best product innovations for the decade gone by

This category, a special one for 2020 awards program, celebrates an exciting product success story in the last decade. It looks to recognize banks that have succeeded in rolling out innovative products that not only match their customers’ digital lifestyles, but also drive sustainable growth for their organizations.

Channel Innovation

Think innovations across channels

Over the years, there has been unprecedented growth in the number of channels, applications and devices used by banking customers. It is therefore imperative for banks to deliver insights-driven, personalized customer experiences and deepen engagement across traditional, modern and emerging channels. This award category felicitates banks that provide their customers convenience, speed, personalization, and accessibility on a device and channel of their choice – assisted, unassisted or third party.

Customer Journey Reimagination

Think about unbundling and re-bundling the value chain

Digital age customers are well-informed, sophisticated, and connected. They demand personalized, simple and frictionless experiences throughout their engagement journeys. Fortunately, banks can tap a lot of digital technologies to fulfil these expectations. This award recognizes organizations that have reimagined their customer journeys to inspire the rest of the industry.

Corporate Banking Digitization

Think comprehensive or targeted corporate digitization programs

Digital technology is shaking up the competitive landscape and economics of corporate banking. As enterprises in all industries digitize rapidly, they need banks that can match their expectations of a sound value proposition, tailored solutions and highly efficient delivery of banking services. This category of the Infosys Finacle Client Innovation Awards recognizes those financial institutions that are rethinking the corporate banking value chain by leveraging advanced technologies.

Ecosystem-Led Innovation

Think ecosystem, complementary products, APIs powered ecosystem

Few services have permeated their customers’ digital lives like banking has. Banks are no longer purveyors of just banking services; they fulfill a range of banking-adjacent and non-banking needs either singly or in partnership with members of their ecosystems. This award category seeks to honor banks that are engaging more deeply with customers by becoming an inseparable part of their daily lives.

Process Innovation

Think process re-imagination, digitization and automation

Efficient operating models and delightful customer experiences would not exist without well-designed, flexible and adaptable processes in the background. Finacle felicitates banks that have mastered the process re-engineering puzzle to set the right foundation for customer growth [V1]in this award category.

Transformation Excellence

Think tech-led transformations

Digital transformation sits high on the agenda for financial institutions as a way to improve customer engagement, reduce costs, and defend against new and traditional competitors. In this category we recognize banks that have set an example for executing a best-in-class transformation program amidst various prevailing complexities in their organization and across the financial ecosystem.

Modern Technologies led Innovation

Think cloud, blockchain, AI, Open APIs, Mixed Reality

The convergence of game-changing technologies such as Cloud, Blockchain, Open APIs, IoT, and Mixed Reality is bringing our imagination of tomorrow’s banking to life. This particular award recognizes banks that are architecting the future by making the most of emerging technologies.

Award Details

Evaluation Criteria

  • Award nominations would be judged based on the following criteria:
  • Innovation Quotient (IQ): 35% weightage
  • Benefits Quotient (BQ): 40% weightage
  • Complexity Quotient (CQ): 25% weightage

Important Dates

  • 25th January 2020: Last date for filing nominations
  • Award ceremony will be held on 21st April 2020, at Finacle Forum

Jury: A distinguished panel of judges from the Finacle Client Advisory Board Working Group

Innovation Showcase

All the winning entries will be documented into an Innovation Showcase booklet capturing highlights of the winning initiative. The intention is to further the objective of peer learning for the Finacle community.

Quotes from Previous Award Winners