The Technology Awards Evaluation Criteria

The award is given to the institution and IT partner who has garnered the highest aggregate score from the General Criteria and Award-specific scorecards. The General Criteria scorecard measures the project management side of the implementation, and the Award Specific Criteria scorecard measures the category specific metrics and features of the evaluated solution. The scorecard is used by the researchers and Council of Advisers for Technology & Operations comprised of bankers, independent resource persons and academic professors.

The research team evaluates the submissions and conduct their own research in order to be able to complete the Scorecard for each of the elements listed below. The scorecard for the shortlisted submissions are published as part of our repository of research after the awards are announced.

I. General Criteria
Strategy Alignment
  • Does the project/system integrate/align with organization business and IT strategy
  • Does the project/system align and support business bureau goals
  • Has the decision team taken consideration of the current economic, regulatory and technological factors that impact on the project/system
  • Do all the stakeholders, direct human resources involved understand the ultimate goals of implementing this project/system
  • Have the purpose and direction of implementing such project/system been communicated between business bureau and IT technical teams
  • Are there any approval procedure/policy to govern the project/program
Delivery of the overall articulated business value
  • Does the project/system streamline the specific business process
  • Are there any procedures to govern the cost benefit analysis process
  • Are there any methodology/tools are used to evaluate the cost and benefit
  • Are there any on-going assessments in place to assure value delivery
  • Are there any post project value analysis
Project management
  • Did the project have a compelling business case
  • Was the project charter completed and signed by all relevant stakeholders
  • Were the outcomes, deliverables, benefits, assumptions and constraints well documented
Project Execution
  • Were there project managers from both sides whose duties were clearly defined
  • Was there a process in which they would measure performance and communicate issues that arose during the implementation
Vendor Strategy/Evaluation
  • Was the vendor strategy aligned to the organisation
  • Was the vendor's core competence identified
  • Was there a selection process followed to select the vendor
Contract Development Management
  • Were there performance drivers of vendors that were identified
  • Were there clearly defined and robust SLAs in the agreement
  • Was the relationship between the bank and vendor well maintained
  • Was the transition process implemented smoothly
  • Was there sufficient documentation provided by the vendors during the implementation
Clear Project Management Guidelines
  • Did the project have too many scope creeps
  • Was the technology defined in scope?
  • Was there any process followed to control the scope changes during the project
Cost Management
  • Was there a proper assessment of the cost of the project
  • Were there tools used for cost estimation and analysis
  • Did the stake holders accept the total cost spend on the project
  • Did the project have enough budgets throughout its life cycle
  • Was there any tool used to record, monitor and approve the cost of the project
  • Did the project budget change frequently
Meeting Quantifiable Targets
  • Is the defined schedule acceptable given all project tasks
  • Did the project have enough buffer to cover the module/milestones delay
  • Did the actual delivery vary from the scheduled delivery too much
  • What were the tools used to monitor/track the timeliness of the project
Meeting Goals
  • Did the project involve regular meetings with stakeholders on project updates
  • Did the project have regular testing with proper documentation
Risk Mitigation
  • How were the risks identified, managed, reported and resolved during the implementation
  • Was there a process of escalation when issues and risks became too difficult to manage


II. Award Specific Criteria  
Best Core Banking Implementation
  • Size of deal relative to the asset size of the bank, as an indicator of the importance to the institution
  • Unique features of architecture design
  • The number and types of business issues it was designed to overcome
  • Level of automation, straight-through processing or streamlining achieved as a result
  • Level of real-time, online capability achieved as a result.
  • Level of consistency achieved in application development capabilities or business processes
  • Number of applications, business areas or products affected or created by this project
  • Regulatory reporting functionalities
  • Number and types of business processes executable into the new architecture
  • Number, types and range of channels executable as a result of this project
  • What were the alternatives to this approach and the features of the current project that were superior
  • Timelines – keeping to a good implementation schedule timeline, with minimum over-runs
  • Any additional information that should give this project an advantage over competition.
Best Risk & Analytics Project
  • How enterprise-wide is this project designed to be?
  • Is the bank able to develop its own risk scorecard for PD/EAD/LGD based on Advanced IRB requirements of Basel II as a result of this project?
  • How robust would you assess the credit scoring, modeling and analysis capabilities in order to achieve a complete view on an enterprise's risk position? (for example, is the solution able to work out probabilities of default (PD) for various asset classes, exposure calculation and estimation and modeling of risk factor distributions from the credit scoring, modelling and analytical capabilities being implemented?)
  • Is the system able to work out the risk weighted assets; regulatory capital, etc. according to the new Basel II?
  • Can the system support scenario analysis, such as a view on risk management by simulating the effects of customer specified scenarios and by using all relevant techniques, such as Monte Carlo simulation, What-if? analysis, stress testing, etc.?
  • How truly end-to-end was this project, in terms of all the relevant functionalities needed — data management, analytics, and reporting — into one architecture?
  • What was the volume of the historical data that needed to be scrubbed and made available for this project?
  • Does the solution enable to the bank to develop behavioural scores for each customer across product sets?
  • How would you rate the ability of the system to pull from a variety of data pools to measure PD, LGD and EAD separately?
  • How would you rate the number, types, timeliness and usefulness of the regulatory reports generated as a result of this project.
  • How would you rate this solution’s ability to collect data from a range of sources.
  • What do you think the quantifiable impact on the existing or new business in terms of lower losses, higher profitability or market share has been as a result of this new risk analytics capability?
  • To what extent do you think the bank is able to generate an enterprise level risk dashboard as a result of this project?
Best Data Center Initiative
  • How many processes were streamlined by this project?
  • What is the scale of the data center and its ability to process and streamline data?
  • How does this data center address the current and future processing needs of the bank?
  • How many products/applications have had a faster time to market since the implementation?
  • What are the quantifiable impact on the efficiency of processes of the bank since the implementation?
  • How is the risk management of the bank aided by the project?
  • Does the project allow for better regulatory compliance?
Best e-Banking Project
  • How would you rate the level of automation in the back-end supporting the e-banking platform?
  • How integrated is the e-banking platform to other channels?
  • What is the number of customer activities supported by this platform?
  • What percentage of the bank’s total customer base are described as active on the e-banking channels?
  • Are the functionalities provided integrated with that of other banks?
  • This project had strong security features, including encrypted messaging, firewalls etc
  • This project is highly scalable to support strong network or channel growth in the future
  • This project enables the banks multiple channels to be integrated seamlessly with shared networks
  • We are satisfied that the project has good disaster recovery features in place.
  • We like the technical design of the e-banking platform.
Best HR Systems Implementation
  • The number of employees and locations supported by this solution is high.
  • There is an end-to-end recruitment Interview workflow that is tied to the organisation’s selection criteria in this system.
  • We are impressed by the quality of the rules-based engine to handle complex functions such as Benefits administration well.
  • The system has a clear but flexible Performance Administration System
  • The system has an STP-driven Payroll administration system
  • High turnaround time for 90-95% of employee administration matters
  • The system is able to support the organisation’s human resource objectives.
  • The system is able to support teamwork-oriented activities in the organization.
  • There is a high degree of online, self-administered staff functions (eg. leave administration, claims admin etc)
  • The system is able to achieve a high degree of automation for non-essential matters.
  • The solution has a strong human resource standard operating procedures (SOP) and other functionalities
  • There is a good staff exit management system
  • The bank was able to achieve a strong HR system in a cost effective manner.
Best Trading Systems (Back-office)

To be updated.

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