Second annual Global Retail Banking Innovation Awards open for applications

The Global Retail Banking Innovation Awards, established by Efma and Accenture, is looking for cutting-edge marketing and distribution innovations from retail banks for their global award ceremony.

Efma, whose membership includes nearly one-third of all global retail banks, in partnership with Accenture, a global distribution and marketing firm, will judge candidates on innovations within nine categories, including customer experience, physical distribution, sustainable business, and best new product or service.

The judgement panel is made up of the Efma Innovation Awards Committee, which include senior executives from leading banks in North America, Latin America, Europe and Asia.

The panel will shortlist candidates in each category, which will then be voted on by Efra’s membership, which consist of 3,300 retail financial service companies in over 130 countries.

Patrick Desmarès, secretary general of Efma, said, “Innovation is happening everywhere in the world and it would be an error to only look at more mature countries.

“The strength of the Efma-Accenture partnership is to scout the entire world for innovative and even disruptive initiatives that could potentially transform the retail banking industry.

“Best innovators are selected by Efma members and judges who are all retail financial executives, which makes it the only award program in the world where bankers are awarded by their peers.”

Winners will be reviewed and recognized in an award ceremony in Barcelona in October, which will include senior presentations from both the winners and senior industry executives. Additional awards will be presented, including ‘Global bank Innovator’ and ‘Most Promising Idea’.

Juan Pedro Moreno, global managing director of Accenture’s banking practice, said, “Digital technology has made it possible for banks to innovate faster than ever before.

“As banks master these technologies, they have an opportunity to redefine customer relationships, bolster efficiencies, and drive growth.”

Photo source: ken teegardin via Flickr 

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