Finacle Innovation Awards

An award program to inspire and celebrate innovation

Celebrating banks that are Inspiring Better Banking

Nomination Closed   2023 Winners List

About the Award

In an era marked by unparalleled transformation, the banking landscape has undergone more profound changes in the past decade than it experienced throughout the entire previous century. And fueling this change, is innovation – a continuous, relentless and all-encompassing pursuit. The banks and bankers that lead this continuum of innovation are inspired, committed and restless – the ones who make wings out of laurels and take flight.

In these extraordinary times, Infosys Finacle proudly upholds its longstanding tradition of applauding the unwavering commitment and passion exhibited by exceptional banks and bankers. Now in its 9th year, the Infosys Finacle Innovation Awards program serves as a beacon, inspiring and celebrating ingenuity within the Finacle ecosystem. The program recognizes financial institutions that are on their path of inspiring better banking by taking novel approaches to differentiate themselves and staying ahead of the competition. With the theme ‘Inspiring Better Banking’, the program celebrates banks who never stop their relentless drive to keep creating ‘better’ value for their customers and stakeholders. Inviting all those banks whose core focus is innovation and are driving digital transformation with speed and scale.

Why Participate?

  • Gain recognition for your vision and innovation
  • Recognition for your team on a global platform and inspire industry peers across 100 countries
  • Select stories will be nominated on other industry award programs in consultation / approval from your bank
  • Select stories will be promoted across Finacle and other industry platforms
  • Build the personal brand of your bank’s key stakeholders on social media and key industry platforms
  • Contribute to the environment – we will plant and maintain five trees for every unique nomination

Award Categories

  • Business Model Innovation
  • Channel Innovation
  • Corporate Banking Innovation
  • Ecosystem-led Innovation
  • ESG-led Innovation
  • Maximizing Customer Engagement
  • Modern Technologies-led Innovation
  • Process Innovation
  • Product Innovation
  • Transformation Excellence
Business Model Innovation

Business Model Innovation

Think embedded banking, marketplace banking, Banking-as-a-service, Digital-only proposition

We are living in a time when the banking industry is experiencing so many changes, rapidly and all at once. To succeed, banks need to recompose their legacy business models. This awards category will recognize banks that have modernized their technology landscape and led with transformation initiatives that will enable them to fight for a share of “new-age banking”, conducted as digital-first, embedded finance, marketplace banking, BaaS, among others.

Channel Innovation

Channel Innovation

Think innovations across traditional, contemporary and emerging channels

Over the years, there has been unprecedented growth in the number of channels, applications, and devices used by banking customers. Banks today need to have a more holistic approach in driving superior engagements by aligning people, process, and technology to drive customer-centric engagements. This award felicitates banks that empower their customers with convenience, speed, personalization, and accessibility on a device and channel of their choice – assisted or unassisted, bank-owned or open-banking channel.

Corporate Banking Innovation

Corporate Banking Innovation

Think corporate banking innovation and digitization across channels, cash management, payments, treasury, trade finance, and more

Digital is shaking up the competitive landscape and economics of corporate banking. As enterprises in all industries digitize rapidly, they demand banking partners to match their expectations of tailored solutions and highly efficient delivery of services. This category recognizes banks for corporate banking innovation and digitization initiatives across channels, cash management, payments, treasury, trade finance, and more.

Ecosystem-led Innovation

Ecosystem-led Innovation

Think ecosystem, FinTech partnerships, APIs powered propositions

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 strive to win, serve, engage and retain customers by continuously creating improved and new value with ecosystem partners.

ESG-led Innovation

ESG-led Innovation

Think sustainability, environment and best business practices

In a post-pandemic world, businesses are under enormous pressure to strengthen their ESG performance. At the same time, the world at large is growing more environment, inclusivity and accountability conscious. This category recognizes banks that inspiring examples of embracing ESG consciousness themselves and are ready with the right offerings to meet these emerging needs.

Maximizing Customer Engagement

Maximizing Customer Engagement

Think about reimagining engagement across onboard, converse, service, sell

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 engage their clients better and create a customer-centric approach that enhances loyalty, satisfaction, and advocacy. This award recognizes organizations that have reimagined digital engagement across the customer relationship lifecycle to Onboard, Converse, Service, and Sell better.

Modern Technologies-led Innovation

Modern Technologies-led Innovation

Think marketplace banking, Banking-as-a-service, Digital-only proposition

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 for providing future ready offerings and this particular award recognizes banks that are inspiring better banking by architecting the future by making the most of emerging technologies.

Process Innovation

Process Innovation

Think better operations with smart processes, augmented workforce, and technology advantage

Efficient operating models and delightful customer experiences would not exist without well-designed, flexible, and adaptable processes in the background. Banks have to take into account both customers’ perspective and internal operations requirements to come up with newer ways of working that are customer-centric, digital-friendly and open to automated execution. This awards category felicitates banks that have mastered the process re-engineering puzzle to set the right foundation for profitable growth in this award category.

Product Innovation

Product Innovation

Nominate your best product innovations

In this category, we recognize banks that have succeeded in rolling out innovative products that match their customers digital lifestyles and drive sustainable growth for their organizations. The innovation may come from developing new products independently or with partners, significant enhancements to established products, or launching a completely new product category for the customers. This award recognizes banks differentiating with their unique value proposition with continuous innovation.

Transformation Excellence

Transformation Excellence

Think progressive modernization, agile delivery, DevOps, complex transformations, and more

Digital transformation has been at the focal point of investments for last several years now, yet few banks can claim success with scaling digital leadership across the board. This is because managing transformation at scale requires a paradigm shift in thinking, designing and executing for change. This category recognizes banks that have set an example for executing a best-in-class transformation program to create, deliver, and capture value.

Nomination Closed

*Only financial institutions that are live on Finacle solutions are eligible to nominate for the awards


Award Details

Finacle helps banks engage better with their customers, employees, and partners. We do this by helping banks design and deliver truly personalized products and services. Built on a unique engagement hub, our suite helps banks onboard, sell, service, and converse better with customers. In fact, banks running on Finacle have realized an average 19% improvement in their NPS scores.

Automation Blueprint

Important Dates

  • Last date for filing nominations: 09th February 2024
  • Award winners will be announced in May 2024
Automation Blueprint

Evaluation Criteria

  • Innovation Quotient (IQ): 35% weightage
  • Benefits Quotient (BQ): 40% weightage
  • Complexity Quotient (CQ): 25% weightage
Automation Prioritization

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.

2023 Winners List

Nomination Closed

Santander Global Connect allows us to help UK businesses of all sizes to seamlessly manage their international transaction and cash management banking needs, as well as to develop and grow relationships with existing customers and support the international growth needs of new customers. There has never been a more important and exciting time for businesses to consider international expansion. The tool is crucial to assist both customers and our own international banking strategy, now and in the future.

John Carroll

Head of International and Transactional Banking

Santander UK

Inspiring Better Banking Stories

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Nomination form

What was unique about the initiative? What impact did the initiative create – highlight the KPIs?

What is the business case for this initiative? What opportunities did you see in the market? What problems did you look to address? What were the desired outcomes?

Explain the solution design and how this helped mitigate a challenge or resolve the problem. Explain why this initiative is innovative. What were the levers that were used to amplify impact, e.g. innovative use of new technology, innovative approaches etc.? How does this initiative help differentiate yourselves from your competition? How do you intend to build on the initiative’s success going forward?

How complex was the project? What were the biggest challenges and how did you overcome those? What were the development practices (may include Agile Development, DevOps project management practices, Fintech startup collaborations, or usage of Cloud PaaS?)

What Finacle solutions did you use for this initiative? Explain how you leveraged the solution suite to drive the transformation and its outcomes

Internal team: size of the core team, key departments involved. External resources: technology vendors, professional services firms, Fintech partners, Project start, key milestones, go-live date

Please share details about the business impact that can be numerically quantified. Viz. Increase in revenue or client numbers, productivity enhancement, cost, or risk reduction, etc.)

Please share details about other business benefits (that are hard to quantify) such as improved user experience, reduced turnaround time, better products/ functionality, positive client feedback, social media buzz, etc.