A joint Efma and Accenture initiative
The Efma Accenture Distribution & Marketing Innovation Awards
is a joint Efma and Accenture initiative. Its aim is to identify and reward the most innovative projects and initiatives in the retail financial services arena at a global level. An essential component of the programme is the Innovation Portal: www.efma.com/accenture
. This portal showcases innovations from all over the world, in the following six categories, plus the Global Innovator and the Most Disruptive Innovation.
Innovations can be searched by category, keyword, date, country or institution. The portal contains a detailed description of each innovation: the reasons behind it, what makes it unique, how it has been implemented, how it was organised and the results achieved to date. Each innovation is accompanied by a series of relevant documents.
Efma and Accenture are able to draw upon their international network of correspondents and associates to track innovations in retail financial services worldwide. Banks are then approached by Efma and asked to fill in standardised forms that are put online.
Nominees from all innovation categories will be shortlisted by Efma at the end of August.
Digital and Mobile Excellence
Innovations in the bank’s digital distribution and payment strategy. Embracing improvements of existing channels, introduction of new channels and the enablement of alternative payments, with the aim to provide a seamless customer experience across all digital channels (e.g. call centres, ATMs, mobile, online, social).
Innovations in the bank’s physical distribution network (e.g. new branch foot-print, re-shaped branch format, retail-like branches with digital selfservice capabilities) with the aim to meet new trends in customer behaviours, ensure in-branch operational excellence and deliver a compelling customer experience by exploiting the potential of leading-edge technologies.
Multichannel and Customer Experience Management
Innovative ways to engage and serve customers or specific segments from a marketing approach, customised products, high-value services and dedicated advisory models. The aim is to strengthen customer centricity, increase satisfaction and loyalty while optimising cost-to-serve and boost the online/offline integration.
Customer Analytics and Big Data
Innovations that radically change how banks collect and effectively manage customer information across multiple dimensions (e.g. behaviours, needs, customer value) both from internal and external sources as well as new ways to exploit the big data potential in order to obtain actionable insights, increase customer intimacy and develop tailored offering.
Innovations impacting sales force and direct/online sales productivity by improving internal processes, developing supporting tools/technologies in order to align sales behaviours to a customer-centric model.
Specific initiatives/products/services generating relevant social or sustainability impact while creating value for all stakeholders by increasing accessibility of banking services, spreading financial education and creating beneficial services for the community.