Finalists 2011

The finalists of the 2011 Financial World Innovation Awards.

Download a printable pdf of the Finalists here

  • 1. Innovation in corporate social responsibility

    • Aviva - Street to School

    • Barclaycard & The Money Advice Trust - My Moneysteps

    • Barclays Capital - YBI Barclays Capital ‘Unlocking Enterprise’ Partnership

    • Deutsche Bank - Teamwork Challenge

    • Vocalink - Driving Customer Advocacy through CSR

  • 2. Innovation in sustainability

    • Akbank - Akbank is Leading Sustainability Initiatives in Turkey

    • Lloyds Banking Group - Commercial Sustainable Development

    • Royal Bank of Scotland - RBS 'Green' E-Invoicing

    • Sekerbank - EKOloan (EKOkredi)

    • The Co-operative Financial Services - Ethical Operating Plan

  • 3. Innovation in the delivery of financial products (Two-part category)

    a. Financial Services

    • Aktif Bank - Aktif Online

    • Barclays - A revolution in Customer Communication: the bank statement as a relationship platform.

    • Barclays - Barclays Income Insurance

    • BM Savings - BM Savings website redesign

    • HSBC - HSBC Mortgage Product Switcher

    • Lombard - Asset Finance

    b. Multichannel and Mobile Banking

    • Absa Bank - Cellphone Banking Lite

    • Banco Best - Future Banking and Wealth Management

    • Bank Hapoalim - Poalim Connect

    • First National Bank - FNB eWallet

    • Royal Bank of Scotland - RBS Banking App

  • 4. Excellence in customer service (Two-part category)

    a. Customer Facing

    • Abu Dhabi Finance pjsc - Customer Service

    • Akbank TAS - Buyuk Kirmizi Hat (Big Red Line)

    • Barclaycard - Web Relations Team

    • Lloyds Banking Group - Phone a Friend

    • MORE TH>N - MORE TH>N Personal Claims Handler

    • Wonga.com - Wonga Customer Service

    b. Strategy and Process

    • Ageas Insurance Limited - Ageas’s response to major weather events

    • Nationwide Building Society - Nationwide/Nunwood Service Tracker

    • The Blemain Group - Interactive Income and Expenditure Review

    • Travelex Global Business Payments - Every Customer Counts Programme

    • Wesleyan Assurance Society - Customer Relationship Centre

    • Workplace Savings, Legal & General Assurance Society Ltd - WorkSave

  • 5. Innovation in marketing and communications

    • Akbank - Akbank Social Media Initiatives

    • Allianz Your Cover - Find and Drive Smartphone App

    • Citi - Integrating Social Media into Citi GTS’ B2B Marketing Strategies

    • HSBC Bank International - Expat Explorer Interactive

    • Royal Bank of Scotland & NatWest - Franchise Fund

  • 6. Innovation in product design (Two-part category)

    a. Financial Products

    • Allianz - Your Cover Insurance

    • Bank of Valletta - The BOV FIDDA Account

    • BM Savings - Inflation Rate Bond

    • BRE - BRE Bank eMoney – Innovative Tool with Unlimited Possibilities

    • Clydesdale Bank - Regular Home Saver

    • MetLife - Protected Growth Bond

    b. Financial Services

    • Akbank - Direct Cash Payment

    • Bank Hapoalim - Poalim Connect

    • Barclays Clearlybusiness - MyBusinessWorks

    • Equiniti - The ESP Portal

    • Royal Bank of Scotland - The Bank of England Solution product

    • Royal Bank of Scotland - The RBS Global Payment Conversion Service for Regulated Payments

  • 7. Most promising initiative - Financial advice

    • Aviva UK Life - Aviva Financial Adviser Academy

    • Competent Adviser - RDR Online Study Support Programme

    • Future Life Wealth Management Limited - Wealth Management and Financial Planning

    • Legal & General - IFA Initial Contact Team (IICT)

    • Lloyds Banking Group - Retail Distribution Review

    • Sesame Bankhall Group - The Financial Adviser School

  • 8. Most effective back office initiative

    • Ageas Insurance Limited - Ageas's ‘Fleet & Commercial Straight Through Processing’ Initiative

    • Allianz Insurance - Process Navigator

    • Barclays Business - Barclays Business Expert Servicing Team (BBEST)

    • BRE Bank SA - CashBREaker - Real Cash Management System at the BRE Bank Group

    • First National Bank South Africa - Paperless Branch

    • HSBC - OneHSBC Cards Programme

  • 9. Most effective cultural transformation

    • Halifax - Journey in Practice

    • IFDS (UK) - Developing to Succeed

    • Lloyds Banking Group - Bancassurance Integration

    • Lloyds Banking Group - Telephone Banking Sales

  • 10. Most innovative application of technology - Banks, building societies and insurance (Two-part category)

    a. Customer facing functionality

    • Akbank - Para Gonder

    • Bank of Valletta - The BOV Advanced Deposit ATM Functionality

    • Bankinter - Mobile Brokerage Application with Iris Recognition

    • HSBC International - Expat Explorer Interactive

    • Lloyds Banking Group - Implementation of New Knowledge Management System: Fountain

    b. Business process

    • Blackhorse Finance - Contact Strategy

    • Brit Insurance - ServiceNow

    • HFDC Standard Life Insurance Co. Ltd - Renewal & Retention Solution - MINT

    • J.P. Morgan - Hybrid CPU/GPU Infrastructure

    • Lloyds Banking Group - Business Info Portal

  • 11. Best payments initiative

    • Akbank - Akbank Cepten Öde

    • Barclaycard and Orange - UK’s First Contactless Mobile Phone

    • BRE Bank SA - BRE Bank Prepaid Cards and eMoney

    • KlickEx New Zealand Limited - Multi-Currency Network Service

    • Travelex - GEO Global Clearing Network

  • 12. Technology Vendors - Most innovative financial services solution

    • ACI Worldwide - Base24-eps

    • Business Centric Services Group - SME Cloud sourcing for Financial Institutions

    • CSC financial services EMEA - My Money Works

    • Quantifi – CVA Counterparty Risk

    • Thunderhead - Thunderhead NOW

  • 13. Excellence in governance, risk and compliance

    • HSBC - Winning Trust

    • JP Morgan - Hybrid CPU/GPU infrastructure

    • Lloyds Banking Group - Data Quality for Risk Management and Business Integration

    • Sberbank - Credit Factory Project

    • UK General Insurance Limited - Web Portal and Regulated Entities Change

  • 14. Innovation in staff participation

    • Ageas Insurance Limited - Train the Trainer

    • Allianz Insurance -Team Allianz

    • HSBC - Winning Trust

    • Lloyds Banking Group - Change 4 Life

    • Sesame Bankhall Group - Staff Participation

  • 15. Excellence in business relationship management

    • Ageas UK - Ageas's Motor Partnership with Toyota

    • Akbank TAS - www.kobilersizinicin.com and Kur Yönet

    • Bank Pekao SA - Pekao Integrated Agreement – Comfortable Packages for Corporate Clients

    • Five Talents UK - Mama Bahati Foundation

    • Lloyds Banking Group - Trusted Advisor Programme

  • 16. Innovation in Information Provision

    • CarryQuote AG - CarryQuote IntelliCast

    • Citi - Treasury Vision

    • Data Explorers - Data Explorers News

    • Lloyds Banking Group - Business Info Portal

    • Royal Bank of Scotland Global Banking & Markets - RBSMobile and RBS Marketplace

  • 17. Excellence in SME customer service

    • Akbank - SME Loan for Small Businesses

    • Bank of Valletta plc - BOV JEREMIE Financing Package for SMEs

    • Barclays - Barclays Business Support

    • Lloyds Banking Group - SME Charter

    • Royal Bank of Scotland - RBS Global Account

Award categories 2011

Download a printable pdf of the Award Categories here

For over a decade, the Financial World Innovation Awards have been presented to organisations showing excellence, flexibility, innovation and creativity in their activities. In such a fast-evolving industry, the awards have not been able to stand still either, and award categories have moved with the times, identifying the areas where innovation has come to the fore as well as maintaining ‘traditional’ awards which nevertheless demonstrate clear change and innovation within their arena.

In 2010, we particularly focused on socially useful innovation, following thought patterns from the recession. In 2011, we are looking particularly at relationships in all their forms. We look forward to expanding our global reach and welcome entries from across the globe, from large and small organisations, from previous entrants and new ones alike. We look forward to hearing about the successful projects and initiatives within your organisation which have the potential to make or have already made a real difference and to recognising those that stand above the rest with an award this December, on the night of our Gala Dinner for finalists.

The 2011 categories are listed below. An award will be presented to the winner of each category. Additionally, in exceptional cases, a merit award will also be given in recognition of an outstanding runner up. The category winner that is considered to be the best overall will be recognised with the gold award for innovation.


  • 1. Innovation in corporate social responsibility

    Most businesses have been engaged in corporate social responsibility initiatives for a number of years and have seen the benefits to their staff, corporate image and to the local and global communities that they seek to enhance through their projects. What does your organisation achieve in reaching out to your local communities in terms of staff participation, education and job opportunities or other development projects? What are the benefits of this to all stakeholders?

  • 2. Innovation in sustainability

    Financial services touch every aspect of our lives, and it is therefore one of the sector's incumbent responsibilities to reflect society's concerns about how to balance profit making with long term benefits to society. In 2002, the City of London launched the "London Principles of Sustainable Finance" at the Johannesburg Earth Summit. Sustainability covers a wide range of issues such as the impact of climate change, carbon finance, environmental responsibility, adaptation and the development of effective internal policies and products. Nearly a decade on, how has your organisation innovatively met the challenges of sustainability in any or all aspects of your financial services business?

  • 3. Innovation in the delivery of financial products (Two-part category)

    Reaching the customer has never been so easy; doing it in the way that customers find valuable and easy has never been so hard. Has your organisation developed a new channel to reach customers for sales and/or service or adapted an established channel to developed an enhanced relationship with customers? What has your firm done to innovate in channel delivery?

    {How does your organisation bring products to market? The journey from the identification of need to the launch of a product or service can be long or short, seamless or challenging, evolutionary or revolutionary, depending on many factors. How have you innovated to bring new products, services or delivery channels to the customer? Has your organisation led the field in a particular arena? We would love to hear the story of your product delivery success.} I would think this applies better to the product innovation category

    a. Financial Services
    This section of the divided ‘Delivery of Financial Products’ category is looking at the innovative delivery of financial products and services outside the mobile technology /multichannel arena.

    b. Multichannel and Mobile Banking
    This section of the award focuses on innovative delivery of financial products focused on mobile technologies and multi-channel offerings.

  • 4. Excellence in customer service (Two-part category)

    The customer experience is critical to the retention and development of business in the long term. Excellent customer service ensures that each customer is treated as an individual, worthy of receiving appropriate, efficient and memorable service across the board. What initiatives has your organisation launched in order to meet the challenge of satisfying customer requirements and enhancing the service provided to achieve excellent customer service?

    a. Customer Facing
    This section will look specifically at excellence in customer-facing roles (direct interaction between customer and the financial services organisation)

    b. Strategy and Process
    This section will look specifically at the service strategies and processes designed to ensure excellent customer service offered in these entries.

  • 5. Innovation in marketing and communications

    The world of communication has been transformed over the past decades, from paper and billboard advertising, to television, internet and viral campaigns - all vying for our attention in an ever more crowded marketplace. Finding the alchemy which will take the market by storm through imaginative, clear and effective communication has thus become a bigger challenge with each passing year. We would like to hear about your 2010/2011 marketing and communications successes in any media.

  • 6. Innovation in product design (Two-part category)

    This award is for new or adapted products launched since the beginning of 2010 and not previously entered into the FW Innovation Awards. What gaps in customer requirements have you identified and how have you filled them with new and innovative products? We would like to hear what differentiates your successful product, how it benefits your customers and your business and what financial impact it has had.

    a. Financial Products
    The entries shortlisted in this sub-category cover financial services product offerings, each is an innovative, discrete product, designed to meet a specific goal.

    b. Financial Services
    This award covers services offered by financial organisations –which are more wide-ranging than the more individual and specific ‘product’ sub-category above; the shortlisted entries are innovative, carefully constructed service offerings to customers.

  • 7. Most promising initiative - Financial advice

    Low interest rates, high inflation rates, global markets, ISAs, stocks, bonds, and gilts: for many, they are a closed book, others have more of an understanding, but, for both groups, the help of an expert can guide them through the maze of options and opportunities available to them. How does your organisation create an easy path for customers to understand what is out there and what is best for them? Describe how your advisory strategy benefits you and your customers.

  • 8. Most effective back office initiative

    Behind the scenes in our fast moving industry is a huge infrastructure of people and machines that help to make the organisation's operations work efficiently and effectively. These vital functions directly impact upon the customer experience and on the efficiency of the enterprise. Has your banking, insurance, building society or IFA organisation made innovative strides in the way processes and operations are organised? How did you do this? How did you measure the improvement and what were the successes of your initiative?

  • 9. Most effective cultural transformation

    All organisations face nearly constant change if they want to stay at the forefront of their sector, but sometimes this challenge becomes more radical, impacting on the very culture of a department, division or even the whole organisation. How has your organisation faced the challenges of harnessing your workforce to fulfil a strategic change? What were the difficulties, and what benefits emerged from the transformation?

  • 10. Most innovative application of technology - Banks, building societies and insurance (Two-part category)

    It seems that almost every month there is a new advance in technology that can make our lives easier/quicker/smoother/more fun. The way financial services organisations and customers interact has changed dramatically over a decade, and there is no sign of this stopping. The application of technology in business can be the difference between market leading and market mediocrity - a way of making your organisation a talking point in the sector. What technological changes have you made to improve the way you run your business, operate your back office or communicate with your customers and what benefits has it brought to your organisation and/or your customers?

    a. Customer facing functionality
    This award is looking at applications having customer facing functionality, i.e. that are used by customers of an organisation, directly or indirectly, and is about innovation in the technology used to provide these products or services.

    b. Business process
    This section of the award is looking at applications that innovatively use technology to create or improve processes within their business to achieve a clear goal, such as improved service, better use of finances, better customer experience, etc.

  • 11. Best payments initiative

    The person in the street does not necessarily notice how much the world of payments has changed in the past few years, as long as money ends up where it should be. But speed, efficiency improvements and better security have been achieved at the cost of enormous investment by the industry. With the proposed phasing out of cheques, the development of contactless payments, improvements in clearing and transfer times, card security improvements and many other initiatives, we would like to hear the latest success stories in the payments world.

  • 12. Technology Vendors - Most innovative financial services solution

    The complex structures behind financial services organisations are often not those created in house. Outside expertise can offer economies of scale, tailored solutions and consultancy skills in solving the delivery challenges of the multifaceted products and processes of financial services. As a partner to this industry, has your organisation successfully developed and implemented an IT solution, software package, application or tool-set to which offers value to the financial services industry? How has it flourished in the marketplace and how have you and your customers benefited from it.

  • 13. Excellence in governance, risk and compliance

    Good management of money is definitely in the public focus at the moment. People want to feel safe in their choice of financial services organisation, and feel that they are competent in the services they offer. Complying with changing regulation, combating international financial crime, managing risk effectively and good corporate governance are now far more familiar challenges both in the industry and the wider community. How does your organisation aim for excellence in meeting the requirements imposed and plan to anticipate the potential future risks of global business? Entrants to this award should demonstrate the effectiveness of their overall GRC strategy in meeting such challenges and the benefits of these controls.

  • 14. Innovation in staff participation

    An empowered, motivated and committed workforce is one of the biggest assets any company can have. How does your organisation channel the creativity, enthusiasm and knowledge of its staff to bring change, ownership and dedication to improvement to a department, division or whole organisation? How has this impacted customers, staff and the organisation in a positive way and what have been the measurable results of this participation?

  • 15. Excellence in business relationship management

    An ongoing challenge faced by businesses is that of customer retention and satisfaction. Relationship Managers aims to get alongside customers, offer expertise along with a package of relevant financial services aimed to help those customers meet their business requirements. Familiar faces, good service, a motivated workforce, continuous improvement, effective processes - we would like to hear about your strategies to differentiate your relationship management initiatives from the crowd, and bring benefits to your organisation, its finances and your customers.

  • 16. Innovation in Information Provision

    In a world where there is many times more data, information and sources than we can ever gather, let alone assimilate, gaining access to the right information in a format in which we can use it to our benefit is a critical part of the way any business works. When dealing with short timescales, tiny margins and immense competition, the game just gets harder. This award looks at some of the projects that aim to provide or process usable and relevant information in ways that work in the financial services sector.

  • 17. Excellence in SME customer service

    With many SMEs struggling to meet the challenges of the recession, a good relationship with the bank is a key requirement for business success. Have you improved the services you provide, opened up new channels, maybe offered new advisory services for business customers? What benefits have these changes made to your customers?

Tips to help you make the shortlist:

  • Maximise your content – it may be stating the obvious, but if you use your four sides of A4 effectively, you can provide detailed answers to each area, together with figures, graphs, diagrams or photographs to demonstrate how your project has been successful.

  • Make sure you provide all the relevant information requested in the how to nominate section – We can’t give you marks for an incomplete entry.

  • Show us the innovation – what is it? Is it a first in your organisation, sector or market as a whole? Be clear about how it has impacted your organisation. In the 'Most Effective' categories, tell us how your initiative has made things better and why it is effective.

  • Give us the numbers – firstly all information is confidential and will stay within the confines of the ifs and the judges (who sign a confidentiality agreement). Secondly, ratios, percentages and ROI figures can all substitute for absolute numbers to make your case. Feel free to use graphs or diagrams, but overall help the judges to understand the positive financial impact of the project on your business.

  • Finally, if you have it, provide independent assessment of your project – press interest, web links, and awards etc, which give feedback on your programme. Please do not send in promotional material as our judges work remotely and we are unable to distribute hard copy accompanying materials to them.

  • Don’t send in lots of appendices with additional information. In the interests of fairness, we cannot pass these on to the judges as they fall outside the nomination criteria. If the information is vital, think creatively about how you can include it in your main text.