The most sought-after awards in the Banking and Financial Services Industry
Congratulations to this year's winners! IDC FIIA will be back later this year!
Asia's Leaders in Customer Engagement
Award Categories
Most Innovative Bank / Insurer in Asia
This award recognizes the FSI that has realized outstanding outcomes through the novel application of IT innovation, from the perspectives of both technology focus and business goal.
The winner demonstrates that the innovative solution fits into the context of the organization’s competitive positioning and overall business goal. The initiative should set the precedents in the use of technology to respond to the market need and the customer expectations, as well as demonstrate the effectiveness of implementation, with measurable immediate and long-term impacts on the business advantage.
Asia's Leaders in Infrastructure Modernization
This award recognizes the FSI that has transformed technology infrastructure to enable continuous innovations and deliver hyperpersonalized financial services in an agile and cost-effective manner. This transformation should highlight the accelerated speed to deliver new digital products and services, and the efficiency improvement from the modernized IT architecture, and demonstrate a future-proofing infrastructure that will allow the FSI to respond to the many changes upcoming in the future of financial services with agility, resiliency, and security.
The nominated projects of this category can fall into the following list of non-exclusive examples:
Cloud transformation: effective cloud adoption, migration and acceleration aligned with intended business benefits and the organization's future operating model
Core banking/insurance system abstraction and transformation
Data Infrastructure: Building a flexible data platform to provide a single source of truth
Open banking/Open APIs
Banking-as-a-service (BaaS)
Containers
DevOps
Asia's Leaders in Customer Engagement
Vast improvements of high-impact business processes in the leading organizations are designed and operated by positioning customer at the core. This award recognizes the FSI that achieves effective improvements in customer journeys, provides context-based customer experience with empathy at scale, and transforms customer-facing business processes that bring faster turnaround time (TAT) to serve customers and faster creation of new digital products and services based on the changing customer expectations.
The nominated projects of this category can fall into the following list of non-exclusive examples:
Mobile banking / insurance experience improvement
Big data analytics and Al based customer interactions
eKYC, customer onboarding that provide faster TAT and better experience
Digital payments, wallets
Omni-channel customer experience
Intelligent automation/Robotics based customer solutions
Contact center and customer service improvement lOTs
Asia's Most Resilient Bank / Insurer
Escalating IT spending associated with governance, risk and compliance (GRC) is expected in top Asia/Pacific financial institutions. This award recognizes the FSI that has established an effective framework of GRC management.
The framework should ensure the organization can withstand financial stresses from the macroeconomic environment, tackle the challenges of the rise of cyberattacks and data breaches in order to maintain customers' trust, address operational resilience to ensure compliance with the regulations, and respond to new types of risks of the time.
The nominated projects of this category can fall into the following list of non-exclusive examples:
Risk management platform
Data platform for risk management
Big data analytics and Al based solution for GRC
Asset liability management, stress testing
Cyber security management
Risk modeling management and model risk governance
Applications and solutions for risk management
Customer data rights, data protection, data privacy
Operational risk management
Asia's Leaders in Sustainable Finance
This award recognizes the FSI that has set its roadmap for ESG to provide sustainable financial services and track its progress towards these goals effectively. Financial institutions should demonstrate their ESG-related capabilities to operate as responsible and green business, bring to market products and services with sustainability in mind, and play a moderating part in funding sustainability to support the national goals.
The nominated projects of this category can demonstrate great and steady progress in the areas including:
Sustainable banking / insurance operations: green datacenters, retro-fitting of buildings (loT), digitalization of business processes
Creating sustainable products: green loans, incorporating sustainability to credit risk, climate stress test
Support of national goals: issuance of green bonds, helping clients manage transition risk, creation of pathways for transition for key industries
Contact Us
If you have any questions/clarifications regarding the IDC Financial Insights Innovation Awards,
send us an email at: apfiia@idc.com