The Efma–Accenture Banking Innovation awards program is an initiative which aims to identify and award the most innovative projects in the retail banking sector at a global level. This program is in it’s fifth year, with the aim of sharing worldwide best practices in the retail banking distribution and marketing arena.
Innovations in ten categories are recognized, including two overarching awards for Global Innovator of the Year. The categories are:
- Best New Product or Service
- Phygital Distribution
- Digital Marketing
- Big Data, Analytics and AI
- Customer Experience & Engagement
- New Business Ecosystem
- Workforce Empowerment & Behavior
- Wallets & Payments
- Global Innovator of the Year (both Challenger and Established players)
Sberbank (Russian Federation) took home the Big Data, Analytics & AI award for “Tips” in Sberbank Online, an artificial-intelligence-based tool that helps users change their financial habits for the better, saving them money, time and effort. Instead of looking at the past, the goal was to look forward and provide recommendations around what is expected to occur in the future.
A total of 183 financial institutions from 59 countries submitted 467 innovations for the 10 award categories in 2017.
