About
The Global Islamic Finance Awards 2024 organised by The Digital Banker, exists to honour and celebrate preeminent and ground breaking Islamic financial institutions and their distinguished individuals’ contribution across the global banking landscape. To that end, The Digital Banker welcomes you to participate in the program to showcase how your institution has been leveraging innovation in maintaining ethical relationships through the delivery of superior product & services portfolio that go beyond maintaining Shariah compliance and imbibe the values and substance of interest-free banking and shared profit/loss and risks.
The Digital Banker Awards are accolades of excellence and distinction, attributed to outstanding players – they provide objective benchmarks for the global and regional banking industry. This program celebrates the region’s most cutting-edge Islamic financial service providers that are pioneering new standards and capabilities and are transforming the industry by setting new milestones and digitally transforming to deliver a consistent banking experience tailored to a diverse set of customers within a Shariah framework.
If you identify your organisation and/or professionals as industry leaders that are pushing boundaries and driving unsurpassed innovation in Shariah-based products and services, we welcome you to send in your nominations for the respective awards. The submission deadline for all entries is 18:00 GMT, 29th February 2024.
2023 Awards Highlights of Global Retail Banking Innovation Awards
Why Nominate
Who can apply?
Past Winners of Global Retail Banking Innovation Awards
Judges Past & Present
Submission Guidelines
Request Submission Guidelines
Only projects that have been completed in 2023 will be accepted. Initiation of the project can be earlier – The Digital Banker does not require a specific commencement date. In addition to this, any updates/new additions to existing projects within the said time frame will also be accepted. If a project was completed prior to 2023, the project will be accepted only if any updates have been made to it.
We do not place a limit on the number of submissions per institution. Please be aware that multiple submissions by a single organisation for a single category will compete with each other.
A separate submission is required for each category. Please submit all the entries on the platform by choosing the correct category and award title.
Judging Criteria
Belief Statement
Shortlisted nominees are selected on the qualitative and quantitative depth of their nominations.
The Digital Banker research team will shortlist four institutions or individuals per category, which will then be put to our impartial panel of expert judges who will undertake a rigorous audit type process to carefully select the winners.
We use a proprietary, numerical & qualitative scoring methodology which is applied to all submissions and augmented by assessment in: Product and Service Innovation, Superior Customer Experience, Financial & Market Performance and Corporate Strategy with a focus on the Shariah governance and internal controls the bank has built to date.
The Digital Banker reserves the right to use the shared data as it deems fit and including for awards assessment purposes by the judging panel.
- Depth of omni-channel integration
- API connectedness within broader digital ecosystem
- Degree of automation within client facing processes
- Time-to-market of new initiatives & agility of IT infrastructure
- Digital safety and security frameworks
- Active user growth (YoY) and incremental impact of digitally active customers
- Realised market share of targeted customer segment(s)
- Application of emerging technologies to service customers across platforms
- Real-time and ongoing communication with customer on digital usage, support and guidance through various media
- Collaboration with strategic partners, ecosystems and platforms
- Level of customisation and embedded optionality features
- Value-added wealth-management, personal financial management tools
- Synchronisation with customer life-cycle and profile
- DIY and self-service functionalities
- Customer Satisfaction Score with digital banking services
- Net Promoter Score of digital banking channels
- Apple IOS/Google Play Store Rating of bank application
- Market awareness and business intelligence capabilities
- Intuitive and contextualised user-centred UI design
FAQs
Do I Have to Submit a Nomination?
All awards participants are required to submit nominations through The Digital Banker’s online submission portal. The portal is where you will find the questions that need to be answered in order to be considered in the current year’s program. Institutions will be unable to participate in our awards programs without a fully complete submission(s)
Can One Project/Initiative Be Considered for Multiple Awards?
You may nominate one project or initiative across numerous awards. Please note however, these submissions are likely to compete with one and other. You must submit separate entries for each award.
Are There Any Costs Involved in Making A Submission?
There are no costs involved in making a submission.
May I Submit More Than One Nomination?
The Digital Banker does not place a limit on the number of submissions per institution. Please be aware that multiple submissions by a single organisation for a single category will compete with each other. A separate submission is required for each category.
If I cannot Access The Judging Portal, May I submit My Entries Via Email?
If your institution has firewall restrictions and you are unable to submit entries via our portal, you may request for the PDF questionnaire.
For further information, please contact The Digital Banker Awards Team at [email protected].
