The awards process is based on the following steps
A shortlist of 9 nominees for each category is identified by an Efma Committee after the submission deadline (7th September).
The voting period: 17th September until 24th September
Efma members and non-members – from financial institutions only – who visit the website are able to vote for the 7 standard categories (excluding the Global Innovator category) after logging in.
To cast their votes they established a podium ranking of Gold, Silver, and Bronze, among the 9 nominees per category. Each vote cast by an institution for its own innovation receives 50% of the points normally attributed.
For the special Global Innovator category, an Innovation Awards Committee composed of banking executives and innovation specialists from all over the World review all the nominees and vote.
Jury – Innovation Awards Committee
The jury evaluates the Global Innovator nominees taking the following three criteria into account:
The uniqueness of the innovation strategy in the marketplace and its potential as a game changer.
The strategy’s capacity to generate a superior, long-term competitive edge and a significant return on investment.
The strategy’s adaptability across different markets and countries.
All ratings and results remain confidential.