FAQ

What is Efma?

Efma, a not-for-profit association formed in 1971 by bankers and insurers, specialises in retail financial marketing and distribution. Today, more than 3,000 brands in 130 countries are Efma members, including over 80% of Europe’s largest retail financial institutions.

Are the Efma Accenture Awards reserved for European institutions?

No. Efma is a global institution. Therefore the Efma Accenture Distribution & Marketing Innovation Awards are a global competition.

May I participate if my institution is not an Efma member?

Yes. The Awards are open to all banking and payment institutions.

May I participate if my institution is not a financial institution?

No. The Awards are reserved for banking and payment institutions. If you want to submit a project developed with a banking or payment institution, please ask the banking or payment institution to submit it for you.

How much does it cost to submit an innovation?

Participation is free of charge.

What can I do to increase my chances of winning?

  • Particular care should be taken when completing the presentation part of the form.
  • Add a picture and even a video. This will create added value.
  • Do not wait for the deadline to submit your innovation. If you are an Efma member, you can submit your innovation earlier and have a chance of winning the Innovation of the Month Award, entitling you to automatic selection as a nominee for the Annual Awards.

What is the Innovation of the month award?

Every month Efma highlights one innovation among innovations recently submitted. The winner is entitled to ten exclusive advantages including automatic selection as a nominee for the Annual Awards, the opportunity to present its innovation at an Efma event and a communication campaign via the Efma website, the innovation portal, the Efma e-newsletter, LinkedIn and Twitter. The Innovation of the month award is reserved for Efma members.

Do I have to submit my innovation twice if I want to compete for the Innovation of the Month Award and for the Annual Awards?

No. Once is enough to participate in both competitions.

Which category fits best to my innovation ?

To know which category fits best with your innovation, please refer to their description by clicking here

Can I submit an innovation in more than one category?

No. you have to choose the category that is the most suitable for your innovation.

May I submit an innovation launched several years ago?

You can and we will be glad to publish it on the innovation portal, but only innovations launched after 1st January 2016 are eligible for the Awards.

May I submit a project that has not yet been launched?

Yes, but it must be at least in its pilot phase.

Will the information on my form be kept confidential?

Only to a limited extent, since all financial institutions that are Efma members have full access to the forms.

What kind of additional documents may I attach to my form?

Word files, PDF files, PowerPoint files, JPG and PNG pictures as well as URL links. YouTube URL only for the videos.

Why do I not have full access to the forms of the other participants?

Full access is reserved for Efma members. To find out more about the terms and conditions of Efma membership, please contact Lubomir Olach at memberservices@efma.com

How can I create my login and password?

It is free and fast. Please go to www.efma.com/account in order to create your account.

What criteria are used to assess innovations?

The Efma committee will evaluate the innovations and rate them on a scale from 1 to 10 taking the three following criteria into account:

  • Originality: the uniqueness of the idea in the marketplace and its potential as a game changer.
  • Impact: the innovation’s capacity to generate a superior, long-term competitive edge and a significant return on investment.
  • Universality: the innovation’s adaptability across different markets and countries.

Who selects the nominees?

After the submission deadline, an Efma Committee will select the nominees in each category.

Who selects the winners?

Financial institutions visiting the website, whether they are Efma members or not. The Efma members’ vote will count for double.

Will voting details be shared?

No. The vote will remain confidential.

When and where will the ceremony be held?

The ceremony will be held in Rome on 25 October 2017.

Who can participate in the ceremony?

Participation is restricted to financial institutions & is FREE of charge. However, places are limited and we therefore advise you to Register as soon as possible in order to ensure your participation in this major innovation event.

What about accommodation?

A block of rooms has been provisionally reserved for the nights of Tuesday 24 and Wednesday 25 October 2017 at the Sheraton Parco de Medici Rome Hotel. The cost of a single room type superior is 145€ per night (including breakfast but excluding 10% VAT and 10% city tax per person and night), for a double room type superior the price is 165€ per night (including breakfast but excluding 10% VAT and 10% city tax per person and night).

Any questions?

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