The Efma-Accenture Banking Innovation Awards have been serving as a catalyst for innovation in the banking sector since 2013. This global competition rewards the best new ideas and practices that are transforming the industry for the benefit of banks and customers alike. Banks can submit their innovations for consideration throughout the year via the Efma–Accenture Banking Innovation Awards Portal.
Last year’s awards attracted an impressive 600 entries from 235 institutions in 60 countries, culminating in an awards ceremony in Paris on October 16, 2019. View the 2019 winners. The next edition of the awards is open for submissions already and will officially launch in early 2021.
Our just-released report highlights the innovation trends identified in our analysis of the 2019 submissions. It offers powerful insights into the rise of purpose-led innovation where customers choose brands based not only on value, but also because the brand is close to their own human values. Specifically, the report explores how purpose-led banks make decisions based on a focus on initiatives that drive positive community and/or global impacts, and then manage and steer these towards a desired goal. This is facilitated, to an increasing degree, by technologies like application programming interfaces, blockchain and artificial intelligence.