The Awards Evaluation Criteria
Best AI Technology Implementation
We believe that a successful analytics implementation project gives the institution real-time capabilities to manage, extract and analyse transactional and big data, to meet multiple business, regulatory compliance, or risk management goals and provide effective and timely insights for competitive business differentiation. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Big data features |
Percentage of digital data points |
Number of external public database connected to (batch/real time) |
Number of external semi and unstructured data sources connected to (batch/real time) |
Analytics innovation features |
Total number and type of ML based analytics applications added |
Number of predictive analytics applications added |
Percentage of data or reports processed in real time |
Business impact: |
Improvement in cross sell rate following the implementation |
Efficiency – Cost/time savings |
Growth in revenue |
Technology and Innovation |
Scalability |
Type of analytics features and resulting differentiation |
Technology architecture – Ease of integration, use of cloud, API, Agile |
Customer experience |
Improvement in customer experience |
Percentage/Number of growth in customers as a result of the project/td>
|
Project scope |
Size of deal relative to asset size of bank (measure of importance to bank) |
Scope of project (number of countries/branches/customers served) |
Business case for implementation (why now) |
Implementation success |
Named implementation risks identified and quantified |
Delivery time over/under-runs |
Budget over/under-runs |
Best Analytics Implementation
Wee believe that a successful analytics implementation project gives the institution real-time capabilities to manage, extract and analyse transactional and big data, to meet multiple business, regulatory compliance, or risk management goals and provide effective and timely insights for competitive business differentiation. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Big data features |
Percentage of digital data points |
Number of external public database connected to (batch/real time) |
Number of external semi and unstructured data sources connected to (batch/real time) |
Analytics innovation features |
Total number and type of ML based analytics applications added |
Number of predictive analytics applications added |
Percentage of data or reports processed in real time |
Business impact: |
Improvement in cross sell rate following the implementation |
Efficiency – Cost/time savings |
Growth in revenue |
Technology and Innovation |
Scalability |
Type of analytics features and resulting differentiation |
Technology architecture – Ease of integration, use of cloud, API, Agile |
Customer experience |
Improvement in customer experience |
Percentage/Number of growth in customers as a result of the project/td>
|
Project scope |
Size of deal relative to asset size of bank (measure of importance to bank) |
Scope of project (number of countries/branches/customers served) |
Business case for implementation (why now) |
Implementation success |
Named implementation risks identified and quantified |
Delivery time over/under-runs |
Budget over/under-runs |
Best API and Open Banking Implementation
We believe that a successful open banking and application programming interface (API) initiative is one that demonstrates the bank’s ability to securely access, process and share data or enable new value chain of service by building an ecosystem based on open interfaces with its distribution channels and IT systems, improving end-to-end service delivery and customer experience. This service model is considered successful when the bank can demonstrate the optimal delivery model for current and future strategic developments, seamless integration, reliable and secure service while delivering competitive efficiency benefits.
Dimension |
Criteria considered by judges |
Project scope and business case |
Number of branches/countries/companies accessing application |
Total number of APIs and number of open API for external parties |
Business case (why now) |
Features and innovation |
Number of new functional capabilities added |
Number of new applications and data access added through API |
Comparative differentiation |
Technology and innovation |
Scalability of systems |
Percentage of STP |
Technology architecture – Ease of integration, use of cloud, API, Agile |
Risk management |
Control trade-offs |
Assured customers’ data protection |
Assured security and protection of the FI's systems and information |
Business impact |
Percentage of cost and time savings |
Percentage of revenue growth |
Business impact |
Percentage of cost and time savings |
Percentage of revenue growth |
Percentage of productivity improvement |
Customer experience |
Number of customers impacted |
Number of new features offered to customers |
Percentage of customer growth |
Implementation success |
Implementation of challenges and risk management |
Budget over/under runs |
Delivery time over/under-runs |
Best ATM and Kiosks Implementation
A successful ATM and kiosk implementation is the one that optimises operational cost for the bank in handling its cash and other automated transactional activities delivered in a safe and secure environment, while achieving measurable customer origination, selling and cross-selling goals. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered |
Project scope and business case |
Number of ATMs/kiosks impacted |
Number of branches/customers impacted |
Number of new features and services added |
Innovation and digital features |
Number of improvement in features in ATM/kiosk estate management |
Number and type of innovative features added |
Number/type of new personalisation features |
Customer experience |
Improvement in customer satisfaction as result of the project |
Percentage of increase in customers |
Increase in the number of transactions as a result of the project |
Risk management |
Control trade-offs |
Assured customers’ data protection |
Assured security and protection of the FI's systems and information |
Technology |
Types of new technology applications and devices added |
Scalability |
Technology architecture – Ease of integration, use of cloud, API, Agile |
Security and fraud management |
Number/type of measures to improve customer verification procedures |
Number/type of measures applied to improve network security |
Number of tools/processes for improvement of customer account protection |
Business impact |
Costs and time savings |
Return on investment |
Improvement in customer cross-sell rates |
Implementation success |
Budget under/overruns |
Implementation of risk management |
Delivery time over/under-runs |
Best Blockchain Implementation
We believe that a successful a successful blockchain initiative will be the one that utilises distributed ledger technology to achieve business goals, potentially disrupting the current operating models while ensuring scalability, reliability, transparency, real time transactions, greater operational efficiency, straight through processing and security in transactions in a decentralised environment. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered for evaluation |
Scope and business case
|
Number of countries/branches/customers impacted |
Number of business applications covered |
Business case/Justification |
Innovation/Disruption |
Type of blockchain implemented |
Uniqueness and ability to meet real business problems through innovation |
Number of processes with competitive differentiation |
Business impact |
Costs and time savings |
Percentage of growth in customers/transactions |
Revenue growth |
Security features |
Number/type of security features |
Number/type of risk management features |
Number of anti-fraud features |
Technology |
Technology architecture – ease of integration, use of cloud, API, Agile |
Scalability |
Interoperability – Number of nodes, parties in the chain |
Implementation success |
Implementation challenges and risk management |
Budget over/under-runs |
Delivery time over/under-runs |
Best Branch Digitisation Implementation
We believe that a successful branch digitisation initiative is one that automates with digital technologies, redesign and maximises utilisation of the branch footprint resulting in improved staff productivity, reduced teller error rates and improved customer fraud management procedures. It should enable improved cross-selling rates, customer experience and reduce staff training time through user friendly systems, all in a manner that is consistent with the banks brand. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Customer experience
|
Increase in number of customers using branch and digital kiosks for transactions |
Improvement in customer satisfaction |
Number of branches/customers impacted |
Features and impact on branch productivity |
Number of processes automated/improved |
Percentage of improvement in branch/teller productivity |
Percentage of reduction in account opening time |
Technology and innovation |
Number and type of new features added and uniqueness |
Technology architecture – Ease of integration, use of cloud, API, Agile |
Percentage of STP |
Scalability |
Security features |
Number/type of security features |
Number/type of risk management features |
Number of anti-fraud features |
Fraud management |
Introduction/upgrade of automated measures to improve customer verification procedures |
Introduction/improvement of tools/processes for customer account protection |
Business impact |
Percentage of increase in branch transactions, cross sell |
Percentage of increase in customers |
Cost and time savings |
Implementation success |
Budget under/overruns |
Named implementation risks identified and managed |
Delivery time over/under-runs |
Project scope |
Size of deal relative to asset size of bank (measure of importance to bank) |
Scope of project (number of countries/branches/customers served) |
Business case for implementation (why now) |
Best Conversational AI Implementation
We believe that a successful conversational Artificial Intelligence (AI) initiative maximises utilisation of the natural language processing, machine learning and data analytics technologies rendering greater intelligence to machines. The initiative should improve customer experience along with greater operational efficiency, productivity, risk management, reduced errors and faster turnaround time, all in a manner that is consistent with the organisation's brand. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget. The current implementation success, impact of business and potential disruption as well as scalability will be key considerations.
Dimension |
Criteria considered for evaluation |
Scope of the project
|
Number of employees/operations/processes impacted |
Size of the project |
Number of processes fully automated |
AI Features and innovation |
Number features of AI chatbot and/or voice bot and uniqueness |
Number and type of machine learning-based applications and features |
Number and type of natural language processing |
Business impact |
Cost and time savings |
KPI changes and percentage of productivity improvement |
Number of customers/transactions impacted |
Security features |
Number/type of security features |
Number/type of anti-fraud features |
Technology |
Technology architecture – Ease of integration, use of cloud, API, Agile |
Number of transactions and processes scalable to |
Percentage of STP level |
Implementation success |
Implementation challenges and risk management |
Budget over/under-runs |
Delivery time over/under-runs |
Customer experience |
Improvement in customer satisfaction and convenience |
Percentage of customer growth |
Percentage of growth in customer transactions using conversational AI |
Best Core Banking Technology Implementation
We believe that a successful core banking system implementation project is one that takes the bank away from account centricity and closer to customer centricity within an architecture that will support the bank's growth, gives the bank measurable productivity gains, helps manage risk and credit exposure, at a lower total cost of ownership than any systems replaced. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Customer centricity and experience
|
Extend implementation supports 24x7x365 online real time transactions with minimum repose across all channels/middleware |
Time taken for day/period batch processing to complete |
Customer experience improvements |
Technology architecture |
Number and explanation of architecture features that support future growth – cloud, microservices, use of API, agile |
Scalability of solution |
Number and types of new modules, interface |
Business impact |
Reduction in time to create new products and services |
Cost and time savings |
Revenue or business growth |
Business case and project scope |
Size of deal relative to asset size of bank (measure of importance to bank) |
Scope of project (number of countries/branches served) |
Business case for implementation (why now) |
Innovation |
Number of new functional features enabled |
Number of new product features enabled |
Implementation success and variances |
IBudget under/overruns |
Named implementation risks identified, quantified and managed |
Delivery time over/under-runs |
Best Corporate Payment Implementation
A successful corporate payments implementation project is one that enables real-time and secure completion of low or high value transactions, supporting end-to-end supply chain, high STP and exceptions processing capabilities, multiple business goals, multiple accounts and multiple currencies, regardless of messaging formats, utilising multiple channels or devices at the lowest possible cost per transaction and minimum error rates, in a regulatory compliant manner. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Compliance/fraud management
|
Number/explanation of compliance measures addressed |
Number/explanation of anti-fraud measures included |
Number/explanation of security measures included |
Payment features |
Number of named functionalities supported |
Number of new innovative payment features |
Number/type of accounts, channels, currencies supported |
Technology and innovation |
Percentage of real time transactions |
Scalability |
Technology architecture – Ease of integration, use of cloud, API, Agile |
Implementation success and variances |
Budget under/overruns |
Named implementation risks identified and managed |
Delivery time over/under-runs |
Business impact |
Percentage of cost and time savings |
Payment transaction volumes and value |
Growth in customers |
Size of deal relative to asset size of bank (measure of importance to bank) |
(International) scope of project - number of countries/ branches/ locations served as a result of project |
Business case for implementation (why now) |
Best CRM Implementation
We believe that a successful CRM implementation project improves the bank’s ability to increase sales to new and existing customers by facilitating processes for sales force automation, customer-centric service and support, and campaign management for both management and sales staff, and utilises all marketing channels both traditional and emerging. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered for evaluation |
Scope of the project
|
Business/employees/customers impacted |
Key features and functions |
Size of the project and impact on business |
CRM features innovation |
360 degree customer data integration |
Innovation features of CRM system and services covered |
Technology and innovation |
Number of new CRM system technology architecture and integration with existing systems, use of cloud , API, agile |
Number/type of innovation features |
Scalability |
Business impact |
Cost and time savings |
KPIs - Cross sell, time to market product, customer transaction, profitability, STP |
Percentage of revenue growth |
Implementation success |
Implementation challenges and risk management |
Budget over/under-runs |
Delivery time over/under-runs |
Customer experience |
Improvement in customer satisfaction |
Percentage of customer growth |
Percentage of growth in products per customer |
Best Cyber Security and IT Risk Management Implementation
We believe that a successful information and cyber security implementation project must continuously contribute in avoiding operational risk by demonstrating, on an enterprise level, the ability to identify and prevent active instances of quantifiable fraud or other threats /intrusions to the bank’s network or systems. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Scope of project and business case
|
Types of cybersecurity threat detection features |
Range of IT systems covered |
Scope of project (number of countries/ branches/ customers served) |
Threat identification features |
Type of real time fraud detection features |
Number and type of cyber risks managed in real time |
Number and type of data analytics features |
Security features |
IT and network security features and innovation |
Customer security features and innovation |
Type of access controls features |
Business Impact/Risk management |
Cost and time saving |
KPIs - Number of incidents/threats prevented, percentage of threats detected in real time, reduction in incidents |
Efficiency improvement in threat prevention |
Technology and Innovation |
Scalability |
Technology architecture – Ease of integration, use of cloud, API, Agile |
Uniqueness and impact of innovation |
Implementation variance and success |
Named implementation risks identified and managed |
Budget under/over-runs |
Delivery time over/under-runs |
Best Data Management Initiative
We believe that a successful data management and big data implementation project gives the bank real-time capabilities to manage, extract and analyse transactional and big data, to meet multiple businesses, regulatory compliance, or risk management goals and provide effective and timely insights. The overall data pool should be governed within a centralised data and information architecture which is robust, scalable and provides notable business value. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Data management innovation
|
Number and types of different data sources |
Range of analytical and predictive capabilities supported |
Number automation innovation features |
Big data readiness |
Number and percentage of unstructured and big data points |
Total number and type of data and analytics applications added |
Number of external public database connected to (batch/real time) |
Business impact |
Cost and time savings |
Key KPIs - Percentage of data processed in real time, cross sell rate improvement, growth in users, transactions, customers |
Improvement in 360 degree visibility of customers |
Technology innovation |
Scalability of architecture |
Uniqueness and impact of innovation |
Technology architecture – Ease of integration, use of cloud, API, Agile |
Implementation variance and success |
Delivery time over/under-runs |
Named implementation risks identified and managed |
Budget over/under-runs |
Scope and business case |
Scope of project (number of countries/branches/customers served) |
Number of departments accessing the system |
Business case for implementation (why now) |
Best Digital Transformation Implementation
We believe that a successful digital transformation initiative includes modernisation of IT architecture with digital design solution, automated processes and integration of multiple back-end systems and channels towards an agile and omni-channel environment. The implementation should demonstrate clear increased operational efficiency gains, maximised utilisation of digital footprint and increased numbers of satisfied customers along with scalable and robust integrated IT architecture. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Digital footprint and omni-channel integration
|
New innovations introduced in digital services |
Number and type of automated, paperless, agile processes |
Evidence of change in digital channel usage |
Technology and innovation |
Uniqueness of digitisation systems and impact of innovation |
Scalability of the system |
Architecture and features for ecosystem development (API, cloud, fintech integration) |
Security management |
New cyber security features added |
Number and type of real time analytics |
New fraud management and security features |
Business impact |
Reduction in time taken for products/transactions/processes |
KPI – Revenue growth, error reduction, efficiency, manpower requirement |
Cost savings from the implementation |
Implementation variance and success |
Budget under/ overruns |
Named implementation risks identified and managed |
Delivery time over/under-runs |
Customer experience |
Percentage of growth in digital customers |
Percentage of growth in digital transactions |
Customer satisfaction improvement |
Size of deal relative to asset size of bank (measure of importance to bank) |
Size of deal relative to asset size of bank (measure of importance to bank) |
Scope of project (number of countries/channels/customers served) |
Best Enterprise Governance, Risk and Compliance Implementation
A successful governance, risk and compliance (GRC) implementation project reduces the cost and effort needed to proactively prevent risk events and compliance violations by providing real time insight and automation of GRC processes. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered |
Compliance and controls
|
Number/Type of regulatory compliance |
Type of risk management improvements - Explanation/purpose |
Reporting systems - Explanation/purpose |
Business impact |
Cost and time savings |
Reduction in manpower requirement |
Efficiency improvement in risk management, KPIs |
Technology and innovation |
Number/Type of technology automation and innovation |
Technology architecture – Ease of integration, use of cloud, API, Agile |
Scalability |
Score and business case |
Business goals addressed |
Return on investment |
Impact (number branches/customers served) |
Implementation success and variance |
Named implementation risks identified and managed |
Budget under/over-runs |
Delivery time over/under-runs |
Best Financial Supply Chain Implementation
A successful financial supply chain implementation project enables corporates and their extended supply chains to exchange financial instruments, access working capital financing and manage payments and receivables in real-time, in multiple currencies, through secure, multiple channels, regardless of messaging format, with minimum error rates in a regulatory compliant manner and for the bank to track and manage credit risk for any of the trading parties for whom financing is provided. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within time and budget.
Dimension |
Criteria considered |
Supply chain financing processing features
|
Real time and offline options available |
Quantified STP rates |
Number and types of functionalities |
Number of instruments and currencies supported |
Business impact |
% of customer growth |
Growth in financing volumes |
% Cost savings |
% Efficiency improvement |
Risk Management |
Number of credit risk features and explanation |
Number and explanation of anti-fraud measures included |
Number and explanation of security measures included |
Technology |
Number and types of innovation features |
Outline of architecture shows end to end workflows |
Scalability and ease of integration |
Business case and Scope |
Size of deal relative to asset size of bank (measure of importance to bank) |
Scope of project - no of countries/ branches/ locations/customers served |
Business case for implementation |
Implementation risk management and success |
Named implementation risks identified and managed |
Budget under/overrun |
Delivery under/overrun |
Best HR Technology Implementation
A successful HR system implementation project is one that supports all HR functions end to end with high STP on an enterprise level basis and integrates with the accounting and other critical administrative functions of the organisation, while ensuring individual talent and performance tracking. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Scope of project
|
Number and type of departments/countries/HR operations supported |
Business case (why now) |
Number of automated processes |
HR solution functionalities |
Number and type of HR features covered |
Number of processes automated |
Technology and innovation |
Architecture - Ease of integration with existing systems, use of cloud, API, Agile |
Number of innovative features added |
Scalability |
Business impact |
Percentage of cost and time savings |
Employee retention rate improvement |
KPI - evidence of usage, percentage of real time query resolution, employee satisfaction, productivity improvement |
Implementation risks and success |
Named implementation risks identified and managed |
Budget under/over-runs |
Delivery time over/under-runs |
Best Identity Verification Technology Implementation
We believe that a successful identity verification initiative provides automated, real time, reliable and accurate authentication system supported by large scale database and continuously contributes to the avoidance of operational risk by preventing instances of intrusions and access to the institutional systems. It should be scalable, compatible to multiple biometrics standards and databases and should be robust with high usability through different channels. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Scope of project/business case
|
Range of business areas/customers/countries addressed |
Name and number of channels implemented across |
Number and type of transactions access secured through this system |
Security/Control features |
Number and types of biometric standards |
Number/type of database integrated in real time |
Evidence of risk avoidance and continuous learning |
Technology and innovation |
Number and type of threat detection and prevention systems (innovation and explanation) |
Architecture - Ease of integration, use of cloud and API, agile |
Scalability |
Business impact |
Time and cost savings |
KPI - Percentage of real time authentication, productivity gains |
Evidence of usage (daily number of users) |
Implementation success |
Named implementation risks identified and managed |
Budget under/ over-runs |
Delivery time over/under-runs |
Customer experience |
Percentage of growth in customers and transactions |
Growth in customer satisfaction |
Best Internet of Things Implementation
WeBest Internet of Things (IoT) technology implementation improves customer engagement with the use of IoT and other emerging technologies to create powerful value propositions for new and existing clients, autonomous agents and market places along with adequate risk management. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Project scope and business case
|
Number of customers/services/countries covered |
Number type of services and applications offered through IoT |
IoT features |
Number of new functional capabilities added through IoT |
Number and type of payment features and innovation |
Number of devices integrated |
Technology and innovation |
Architecture - Ease of integration, use of cloud, API |
Scalability |
Uniqueness of services and impact of innovation |
Risk management/Security |
Number and type of risk management features added |
Number and type of data security features |
Business impact |
Percentage of Cost and time savings |
KPI – Growth in transactions, revenue, productivity |
Customer experience |
Number and percentage of customers impacted |
Customer satisfaction |
Percentage of customer growth |
Implementation success |
Implementation challenges and risk management |
Budget over/under-run |
Delivery time over/under-run |
Best Lending Implementation
A successful lending implementation project is one that provides the bank/financial institution with the ability to differentiate lending products and services, manage risk and credit exposure, and pursue new market opportunities within new segments. The bank/ financial institution gains significant productivity benefits throughout the entire loan lifecycle process, both for loan fulfilment- origination, servicing and collection and loan risk management processes. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Technology
|
Number and explanation of architecture features – ease of integration, use of cloud |
Scalability |
Number and type of new system functional features |
Lending features |
Number/type of features to improve and automate loan origination |
Number/type of features to improve credit collection and loan servicing |
Business impact |
Cost and time savings |
KPI - Evidence of usage, growth in loans, transactions, revenue, profits, time to service loans |
Reduction in time to create new products and services |
Risk management |
Number of data analytics features for credit risk management and evidence of improvement (NPLs, loan recovery) |
Number/Explanation of features for credit management in loan securitisation and syndication |
Innovation in lending risk management and evidence of competitive differentiation |
Customer experience |
Number/Time taken per loan |
Percentage of growth in customers |
Customer satisfaction |
Business case and scope |
Size of deal relative to asset size of bank (measure of importance to bank) |
Scope of project (number of countries/ branches served) |
Business case for implementation (why now) |
Implementation success and variances |
Budget under/overruns |
Delivery time over/under-runs |
Named implementation risks identified and managed |
Best Mobile Banking Technology Implementation
A successful mobile banking implementation project is one that supports a set of winning functionalities that corporate or retail customers demand and use, within a secure and regulatory compliant framework offering high real-time and end-to-end STP levels, to achieve measurable bottom line goals such as customer retention, cross-selling or market share. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Mobile functionalities and innovation
|
Number and type of new offerings/services and differentiation |
Number and type of new applications added |
Evidence of usage |
Risk management and security |
Number/Explanation of security features included |
Number/Explanation of anti-fraud measures included |
Number of authentication/verification features |
Technology and innovation |
Percentage of STP transactions |
Scalability |
Architecture – Ease of integration, use of cloud and API |
Customer experience |
Number of active users and growth |
Improvement in customer cross-sell rates |
Customer satisfaction |
Business impact |
Number and percentage of increase in digital/mobile transactions |
Cost saving and efficiency gain |
KPI – Growth in mobile transactions, number of services, revenue |
Scope and business case |
Size of deal relative to asset size of bank (measure of importance to bank) |
(International) scope of project – Customers, countries |
Business case and justification, ROI |
Implementation success |
Named implementation risks identified and managed |
Budget over/under-runs |
Delivery over/under-runs |
Best Process Automation Implementation
We believe that a successful process automation initiative enables a large scale, end to end automated and digitized work flow with the emerging technologies, agile development methods and backed by integration of IT systems, delivering higher business value. It should result in significant operational efficiency, notable cost and time savings, reduced errors along with lower operational risk bringing greater business value and customer satisfaction. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget. The detailed evaluation scorecard can be found at
Dimension |
Criteria considered by judges |
Technology innovation
|
Number and type of IT systems and processes automated |
Architecture - use of agile methodology, cloud, API, ease of integration |
Scalability |
Digital/automation features |
Types of RPA features added |
Number and details of end to end automated processes |
Increase in self service |
Business impact |
Time and cost savings |
KPI – efficiency gains, time to train staff, evidence of usage, error reduction |
Reduction in manpower requirements |
Implementation success |
Budget under/ overruns |
Named implementation risks identified and managed |
Delivery time over/under-runs |
Scope and business case |
Size of deal relative to asset size of bank (measure of importance to bank) |
Scope of project (number of countries/ users/ customers served) |
Business case for implementation (why now) |
Customer satisfaction |
Improvement in customer/user satisfaction |
Growth in customers/users |
Percentage of Increase in end to end automated transactions |
Best Regulatory Technology Implementation
We believe that a successful regulatory technology initiative utilises information technology to enhance and digitise regulatory processes with a focus on regulatory monitoring, reporting and compliance while ensuring transparency as well as consistency in the regulatory reporting process. It facilitates reduced cost and resources to proactively prevent risk events and compliance violations by providing a data analytics based on real time insight, addressing risks and ensuring efficient regulatory compliance. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget. The detailed evaluation scorecard can be found at http://www.asianbankerawards.com/technology/evaluationcriteria2.php
Dimension |
Criteria considered |
Regulatory compliance features
|
Number and type of regulatory compliance achieved |
Number and type of operational compliance processes digitised |
Number and type of risk management systems implemented - explanation/purpose |
Technology and innovation |
Scalability |
Number of innovation features added and competitive differentiation |
Architecture – Ease of integration, use of cloud, API |
Business impact |
Cost and time savings |
Number of real time insights and risk management |
Resource saving |
Business case and scope |
Business goals addressed |
Return on investment |
Impact (number branches/customers served) |
Implementation success and risk management |
Named implementation risks identified and quantified |
Budget under/over-runs |
Delivery time over/under-runs |
Best Retail Payment Implementation
A successful retail payment implementation project is one that ensures low value payments are made through high availability, secure, readily adaptable, auditable systems, tightly integrated across end-to-end workflows. It also guarantees that access for new and existing retail users is easy no matter the interface and offers them the widest range of functionalities/ currencies while the payment processing is failsafe and executed in as near real time as possible in a compliant manner. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Scope of project
|
Number of countries/locations served as a result of the project |
Number of customers supported |
Business case |
Compliance/ risk management |
Number/Explanation of compliance measures addressed |
Number/Explanation of anti-fraud measures included |
Number/Explanation of security measures included |
Payment features |
Number of named channels/types/devices supported |
Percentage of real time payments |
Number of named functionalities supported |
Technology and innovation |
Scalability |
Architecture – End-to-end workflows, ease of integration, use of cloud, API |
Uniqueness and impact of innovation |
Business impact |
Cost and time saving |
KPI - Growth in number of payment transactions, growth in customers, payment volumes |
Implementation success and risk management |
Named implementation risks identified and managed |
Budget under/overruns |
Delivery time over/under-runs |
Best Self-Service Banking Implementation
A successful self-service banking implementation project is one that both optimises operational costs for the bank and maximises utilisation of the footprint available for a full range of transactional activities delivered within a secure environment, while achieving measurable customer origination, selling and cross-selling goals. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Self-service features
|
Number/Types of self-service digital features added; uniqueness |
Percentage of transactions available through self-service |
Number of self-service machines impacted and competitive differentiation |
Business impact |
KPI - Increase in customers, self-service transactions, cross-selling rates as a result of the project |
Cost, time and HR saving |
Evidence of usage – Number of self-service transactions, value and volume |
Customer experience |
Customer satisfaction |
Growth in customers |
Growth in digital transactions through self service |
Technology and innovation |
Scalability |
Solution architecture – Ease of integration, use of cloud, API, innovation |
Security and risk management features added in new systems |
Business case and scope |
Size of deal relative to asset size of bank (measure of importance to bank) |
Scope of project (number of countries/ branches/customers served) |
Business case for implementation (why now) |
Implementation success and risk management |
Named implementation risks identified and quantified |
Budget under/overruns |
Delivery time over/underruns |
Best Treasury Management Implementation
A successful treasury management system implementation is one that provides full and real-time transparency and control of financial information generated by both simple and complex instruments, including cash handled by the bank. It has full integration with systems supporting risk management, reporting and business users of the bank’s ongoing funding capabilities without compromising on the separation of front and back office. The implementation process starts with a clear business case, balances the risks involved, considers a variety of alternative approaches and delivers the project within the given time and budget.
Dimension |
Criteria considered by judges |
Treasury features
|
Number of innovative features of the new treasury system – Cash management, forex, ALM |
Competitive differentiation in services |
Number of complex instruments covered by the system |
Risk management |
Number and type of risk management features – Explanation |
Number and type of data security and fraud control features |
Number and type of regulatory compliance features |
Technology and innovation |
Architecture – Ease of integration, automation, use of cloud, API |
Scalability |
System agility and robustness |
Business impact |
Cost and time savings |
KPI – Treasury revenue, profits, increase on customers, time to market |
Evidence of usage - Increase in treasury transactions value and volume |
Scope and Business case |
Business goals addressed |
(International) scope of project – Number of countries/branches/locations served as a result of the project |
Business case for implementation (why now) |
Implementation success and risk management |
Named implementation risks identified and quantified |
Budget under/overruns |
Delivery time over/underruns |
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