Product of the Year

These awards recognise excellence for outstanding products that are crucial in today’s banking industry, and stand out among competitors across countries. Product of the Year currently operates with the same purpose: guide consumers and tell bankers to the best products in the banking industry for quality and innovation.

Dimension Weight Indicator (all figures pertain to retail banking)
Financial Performance 20% - Growth in total revenues
- Growth in operating profit
- Total assets
- Return on assets
- Cost to income ratio
- Cross sell ratio
Achievements of the year under review 20% - Launch of new product
- Success of the product
- Innovations
Sales Capability 15% -Sales staff as % of total
-Rise in fees income YoY
-Fees as % of total income
-Sales staff  attrition/digital channels
-Client structure and distribution
-Sales staff incentive sustainability
-Customer-facing staff feedback
Process, Technology and Efficiency 15% - Product approval time
(new product )
- Level of connectivity
- Level of straight-through-processing and real time processing
-Technology and process innovation
-Estimated processing time for key products
Distribution & Channels 15% -Self service (%) of all transactions
-Active online users
-Active digital user rate to retail (%)
-Deposit balance/branch (ave.)
-Network integration Marker share of branches to ATMs
-Contact resolution (call centre)
-Active bill payment via digital base
Staff Skills 7.5% -Senior executives  with more than 10 years of service in the bank (%)
-Portion of senior executives  with more than 10 years of service in the bank
-Number of new senior staff (less than three years)
-Veteran to new staff composition
-Attrition rates of front office staff
Strategy 7.5% -Clearly conceptualized strategy
-Excellence submission made
-Depth and transparency of reporting
-Depth/transparency of reporting
-Executives quoted in the media
Related Events

Important Links
Heads of Retail Annual Meeting
Retail Banking Leadership Programme
Retail Banking Working Group
Annual Rankings

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