EVALUATION CRITERIA – GLOBAL SME BANKING INNOVATION AWARDS 2027
SME PRODUCT INNOVATION AWARDS
Great SME innovation starts with understanding that small and medium-sized businesses do not have small ambitions. We believe the strongest products are those that remove real barriers, unlock new opportunities and give SMEs the tools to do more, with innovation that is practical, scalable and built around how SMEs actually operate.
| Dimensions | Weight | Indicators |
|---|---|---|
| Innovation | 25% | • Degree of customer centricity of the innovation in new product/services features and value-add benefits • Degree of automation, use of technology and digital capabilities powering the product/service etc. • Acquisition capabilities through new SME sign-ups during the period in review |
| SME Client Experience | 25% | • Distribution model and ease of SME onboarding across all channels • Impact on overall SME banking experience, satisfaction and advocacy • Benefits and key selling features of the initiative • Incremental impact on market share following launch of the relevant SME banking product |
| Financial and Market Performance | 25% | • Incremental impact on SME banking revenue and profitability per client • Total transaction volume and values of the nominated SME product/services e.g. deposits mobilised, size of financing, outstanding card balances etc. • Number of active users, average sign-ups per month and overall growth in SME customer base |
| Strategy | 25% | • Journey to introduce the product (challenge, opportunity, time to market reasoning) • FIs internal success metrics and attainment of KPIs measuring business impact and outcomes • Uniqueness of initiative |
| Score | 100% | Note: only one final score is required for each entry/submission. The maximum total score is 100 but please take into consideration the assigned weights when finalising assessment. Entries with the highest score per award will be adjudged the overall winner. |
SME SERVICE INNOVATION AWARDS
We believe that service innovation transforms the way SMEs interact with banks with SME finance institutions
rethinking and accelerating their various cash management, trade and supply chain finance service propositions. Importantly, value
creation and customer centricity remains at the core of all SME service engagements.
| Dimensions | Weights | Indicators |
|---|---|---|
| Innovation | 25% | • Degree of customer centricity of the innovation in new services features and value-add benefits • Service innovation reflects efficient processes, faster turnaround time delivered at reduced costs • Innovation meaningfully addresses existing service gap in market |
| SME Client Experience | 25% | • A clear value proposition that addresses SME needs • Impact on overall SME banking experience, satisfaction and advocacy • Benefits and key selling features of the initiative |
| Financial and Market Performance | 25% | • Contribution to new revenue streams for the FI • Incremental impact on SME banking revenue and profitability per client • Demonstrated market disruption potential through significant market share capture or new customer segment acquisition |
| Strategy | 25% | • Journey to introduce the service (challenge, opportunity, time to market, success) • FI’s internal success metrics and attainment of KPIs measuring business impact and outcomes • Uniqueness of service innovation as a first mover |
| Score | 100% | Note: only one final score is required for each entry/submission. The maximum total score is 100 but please take into consideration the assigned weights when finalising assessment. Entries with the highest score per award will be adjudged the overall winner. |
DIGITAL INNOVATION AWARDS
We believe that digital innovation is fundamentally transforming how SME finance institutions are reaching out to
small businesses and providing relevant products and services. Digital innovation is improving the way in which banks interact and
engage with clients in the most seamless and accessible way. Leading digital initiatives are built on ability to connect SMEs with the
right product sets and provide digital solutions in a fast, secure and consistent manner.
| Dimensions | Weights | Indicators |
|---|---|---|
| Innovation | 25% | • The degree of process automation and integration of systems • Scalability of the innovation and expected service enhancements • Rationale behind the use of a particular technology driving the innovation |
| SME Client Experience | 25% | • Degree to which benefited its SME clients • Impact on overall SME banking experience, satisfaction and advocacy • Distinguishing features as evidence of innovation in terms of new concepts, technologies or thinking |
| Financial and Market Performance | 25% | • Incremental impact on market share following launch of digital innovation • Digital innovation's contribution to operational efficiencies • Size of the technology investment and realised return on investment (ROI) |
| Strategy | 25% | • Innovation addresses a business problem and and contributes to the long-term strategic growth of the institution • FI’s internal success metrics and attainment of KPIs measuring business impact and outcomes • Uniqueness of Initiative and degree to which digital innovation has improved the function and performance of institution |
| Score | 100% | Note: only one final score is required for each entry/submission. The maximum total score is 100 but please take into consideration the assigned weights when finalising assessment. Entries with the highest score per award will be adjudged the overall winner. |
TECHNOLOGY AWARDS
We believe that technology has revolutionised how retail finance institutions operate and such innovation will
continue to play an integral role in the strategic priorities of banks. Technology will shape SME client engagement while open up
new revenue streams and brand engagement opportunities. Effectively, technology is the engine that drives bank transformation for
the benefit of clients and through automation, advanced analytics and re-engineering of operational processes banks are able to
imagine, design and offer innovative products & services contributing to sustainable operational performance.
| Dimensions | Weights | Indicators |
|---|---|---|
| Innovation | 25% | • Uniqueness of technology design, system functionality and level of integration across business vertical • Scalability of the technology initiative and expected service enhancements • Business case of using the particular technology in question |
| SME Client Experience | 25% | • Benefits and value creation to SME clients from the use of this technology • Overall impact on SME banking satisfaction, recommendation and advocacy through its deployment • Benefits and key selling features of the initiative |
| Financial and Market Performance | 25% | • Quantifiable impact on the business through its implementation and achievement of planned business targets • Financial metrics in terms of budget allocated for research, development and implementation and cost overruns if applicable • Size of the technology investment and realised return on investment (ROI) |
| Strategy | 25% | • Journey of technology implementation project • FI’s internal success metrics and attainment of KPIs measuring business impact and outcomes • Technical improvements the use of this particular technology has bought to the operations of the bank and how this is aligned with the FI's overall technology strategy |
| Score | 100% | Note: only one final score is required for each entry/submission. The maximum total score is 100 but please take into consideration the assigned weights when finalising assessment. Entries with the highest score per award will be adjudged the overall winner. |
SERVICE PROVIDER EXCELLENCE AWARDS
We believe that vendors and technology service providers are instrumental in helping SME finance institutions
drive digital transformation, improvement in client experience and enhancement of operational processes. Effective vendors can
help SME finance players enhance their existing technology stacks through solution delivery and execution, platform and
infrastructure development as well as expert advice on the application of emerging technologies. For this stream, we look at the
ability of vendors to correctly assess the technical challenges faced by the bank, the execution of a particular technology solution to
improve operations and workflows while helping the bank materially scale.
| Dimensions | Weights | Indicators |
|---|---|---|
| Innovation | 25% | • Scalability of the technology initiative and expected service enhancements • Solution functionalities mapped against business issues and challenges |
| SME Client Experience | 25% | • Benefits and key selling features of the solution that differentiates from peers • Impact on overall FI experience, satisfaction and advocacy • Client testimonies on vendor efficacy |
| Financial and Market Performance | 25% | • Productivity and process efficiencies realised by the financial institution • Average size of the technology investment and realised return on investment (ROI) for Fis • Incremental impact on revenue or profitability through the deployment of solution |
| Strategy | 25% | • Technical challenges involved in deploying the solution • Vendor’s internal success metrics and attainment of KPIs • Uniqueness of solution |
| Score | 100% | Note: only one final score is required for each entry/submission. The maximum total score is 100 but please take into consideration the assigned weights when finalising assessment. Entries with the highest score per award will be adjudged the overall winner. |
TALENT & LEADERSHIP AWARDS
We believe that the most important asset of any institution are the leaders, executives and teams that comprise
the organisation. Employees that are provided with the requisite platforms to grow, thrive and collaborate is what makes institutional
achievements possible and “moon-shot” endeavours realisable. Furthermore, capacity building, talent development programmes
and employee engagement activities fundamentally drive productivity and work experiences. SME players that provide workplace
environments, which are accommodating, encourage diversity and have performance-based reward schemes set the standards for
professional excellence.
| Dimensions | Weights | Indicators |
|---|---|---|
| Leadership Capability | 33% | Documented achievements of outstanding individuals that have personally championed ground-breaking initiatives, which have had a measurable impact on the overall performance of their institution. |
| Organisational Strength | 33% | • Well-established track record of delivering results and ability to lead & develop high-performing teams. • SME employee engagement scores (if available), employee recognition programmes, staff physical health & mental well-being initiatives as applicable. • Impact on Digital CX performance, employee productivity and efficiency gains realised through staff skill development schemes. • Opportunities for external volunteer projects, sabbatical assignments, flexi-work arrangements etc. |
| Strategy | 34% | Clearly articulated vision, goals and objectives that have been instrumental in shaping the strategic direction of the business setting them apart from their peers in the industry. |
| Score | 100% | Note: only one final score is required for each entry/submission. The maximum total score is 100 but please take into consideration the assigned weights when finalising assessment. Entries with the highest score per award will be adjudged the overall winner. |
COUNTRY, REGIONAL & GLOBAL AWARDS - BEST SME BANK AWARD
We believe that high-functioning SME banking institutions have progressed well in their digitisation and
automation journey and have successfully introduced well integrated product and service platforms to support their SME
customers. These banks are looking at new and faster ways to offer financing to address working capital and cash management
needs of SME clients, while maintaining the quality of their SME loan book. They are also providing specialist access to nurture and
grow SMEs across markets, sectors and segments.
| Dimensions | Weights | Indicators |
|---|---|---|
| Innovation | 25% | • Degree of automation and digitisation of SME financing and digital onboarding • Adoption of open banking practices and API-enabled platforms • Digital payment capabilities and integration of digital POS management systems • Utilisation of advanced analytics and alternative scoring models to assess credit worthiness |
| SME Client Experience | 25% | • SME banking client experience, satisfaction and advocacy • Provision of beyond banking services and access to industry/sector specialists • Number of steps on open an account, apply for a debit or credit card, E-KYC |
| Financial and Market Performance | 25% | • Total size and growth of cumulative SME financing and deposits • Total gross revenue and fee income generated by SME banking business • Number and growth of SME clients in the period under review • Market share position based on SME financing and deposits • % of Non-Performing Assets • % of digitally active SME customers |
| Strategy | 25% | • Dedicated SME banking proposition • FI’s internal success metrics and attainment of KPIs • Uniqueness of initiatives executed in the period under review • Terms of pandemic response SME finance rescheduling scheme/programme |
| Score | 100% | Note: Only one final score is required for each entry/submission. The maximum total score is 100 but please take into consideration the assigned weights when finalising assessment. Entries with the highest score per award will be adjudged the overall winner. Annual turnover of SME bank can range from 0 to 50 Million USD. |
COUNTRY, REGIONAL & GLOBAL AWARDS - BEST MICROFINANCE BANK AWARD
We believe that a high performing microfinance institution has effectively engendered financial inclusion and has
successfully driven targeted product and service propositions to underbanked/unbanked customer segments. These institutions are
addressing key financing gaps for micro-enterprises, while maintaining the asset quality of their loan book. Microfinance institutions
are able to deliver basic financial services in a consistent, convenient and secure manner while balancing the competing needs for
business growth and social impact.
| Dimensions | Weights | Indicators |
|---|---|---|
| Innovation | 25% | • Degree of automation and digitisation of M-SME financing and digital onboarding • Speed of micro-loan disbursement • Digital payment capabilities and integration of digital POS management systems |
| Micro-SME Client Experience | 25% | • M-SME banking client experience, satisfaction and advocacy • Provision of beyond banking services and access to skill formation and capacity building programs • Retention rate of M-SME clients for micro-financing products |
| Financial and Market Performance | 25% | • Total size and growth of cumulative M-SME financing and deposits • Total gross revenue and fee income generated by M-SME banking business • % of Non-Performing Assets • Number and growth of M-SME clients in the period under review • Market share position based on M-SME financing and deposits |
| Strategy | 25% | • Dedicated M-SME banking proposition • FI’s internal success metrics and attainment of KPIs • Uniqueness of initiatives driving financial inclusion • Social performance and impact financing outcomes |
| Score | 100% | Note: Only one final score is required for each entry/submission. The maximum total score is 100 but please take into consideration the assigned weights when finalising assessment. Entries with the highest score per award will be adjudged the overall winner. Annual turnover of Micro SME segment can range from 0 to 1 Million USD. |
COUNTRY, REGIONAL & GLOBAL AWARDS - BEST SMALL BUSINESS BANK AWARD
We believe that high-functioning small business banking institutions have progressed well in their digitisation
and automation journey and have successfully introduced well integrated product and service platforms to support their small
business customers. These banks are looking at new and faster ways to offer financing to cash-hungry small business clients, while
maintaining the quality of their SME loan book. They are also providing specialist access to nurture and grow small businesses
across markets, sectors and segments.
| Dimensions | Weights | Indicators |
|---|---|---|
| Innovation | 25% | • Degree of automation and digitisation of SME financing and digital onboarding • Adoption of open banking practices and API-enabled platforms • Digital payment capabilities and integration of digital POS management systems • Utilisation of advanced analytics and alternative scoring models to assess credit worthiness |
| Small Business Client Experience | 25% | • SME banking client experience, satisfaction and advocacy • Provision of beyond banking services and access to industry/sector specialists • Number of steps on open an account, apply for a debit or credit card, E-KYC |
| Financial and Market Performance | 25% | • Total size and growth of cumulative SME financing and deposits by segment • Total gross revenue and fee income generated by SME banking business by segment • Number and growth of SME clients in the period under review by segment • Market share position based on SME financing and deposits by segment • % of Non-Performing Assets • % of digitally active SME customers |
| Strategy | 25% | • Dedicated SME banking proposition • FI’s internal success metrics and attainment of KPIs • Uniqueness of initiatives executed in the period under review • Terms of pandemic response SME finance rescheduling scheme/programme |
| Score | 100% | Note: Only one final score is required for each entry/submission. The maximum total score is 100 but please take into consideration the assigned weights when finalising assessment. Entries with the highest score per award will be adjudged the overall winner. Annual turnover of the Small Business segment can range from 1 to 10 Million USD. |
COUNTRY, REGIONAL & GLOBAL AWARDS - BEST BANK FOR MEDIUM SIZED ENTERPRISES AWARD
We believe that high-functioning banking institutions for medium sized enterprises are effective partners
nurturing the growth of their clients to mid-market status. These banks are looking at new and faster ways to offering more
sophisticated product and service solutions tailored to the unique needs of the client, while ensuring asset quality and efficacy of
solutions from cash management to trade and supply chain finance. Client engagements are more strategic, and customer journeys
are designed to facilitate total banking relationships across geographies.
| Dimensions | Weights | Indicators |
|---|---|---|
| Innovation | 25% | • Degree of automation and digitisation of SME financing and digital onboarding • Adoption of open banking practices and API-enabled platforms • Information management system integration • Digital payment capabilities and integration of digital POS management systems • Utilisation of advanced analytics and alternative scoring models to assess credit worthiness • Extent of digitisation in terms of products, services and platforms offered. |
| Medium-Sized Enterprise Client Experience | 25% | • SME banking client experience, satisfaction and advocacy • Provision of beyond banking services and access to industry/sector specialists • Number of steps to open an account, apply for a debit or credit card, E-KYC |
| Financial and Market Performance | 25% | • Total size and growth of cumulative SME financing and deposits by segment • Total gross revenue and fee income generated by SME banking business by segment • Number and growth of SME clients in the period under review by segment • Market share position based on SME financing and deposits by segment • % of Non-Performing Assets • % of digitally active SME customers |
| Strategy | 25% | • Dedicated SME banking proposition • FI’s internal success metrics and attainment of KPIs • Uniqueness of initiatives executed in the period under review • Terms of pandemic response SME finance rescheduling scheme/programme |
| Score | 100% | Note: Only one final score is required for each entry/submission. The maximum total score is 100 but please take into consideration the assigned weights when finalising assessment. Entries with the highest score per award will be adjudged the overall winner. Annual turnover of the Medium-Sized Enterprise segment can range from 10 to 50 Million USD. |
COUNTRY, REGIONAL & GLOBAL AWARDS - BEST SME BANK FOR WOMEN ENTREPRENEURS AWARD
We believe that SME banking institutions with dedicated product and service propositions targeting female
entrepreneurs demonstrate superior portfolio quality, operational efficiency and productivity. These institutions have developed their
sustainable competitive advantage centred on women empowerment reflected in their business and social performance. They have
extremely strong female employee engagement and borrower retention rates, registering effective outcomes for their women
entrepreneur clients.
| Dimensions | Weights | Indicators |
|---|---|---|
| Innovation | 25% | • Degree of automation and digitisation of SME financing and digital onboarding • Cheque processing via ATMs or mobile banking • Extent of digitisation in terms of products, services and platforms offered to SME clients. |
| SME Client Experience | 25% | • SME banking client experience, satisfaction and advocacy • Provision of beyond banking services and access to business and leadership training programs • Retention rate of female clients for SME banking products |
| Financial and Market Performance | 25% | • Total size and growth of cumulative SME financing and deposits by gender • Total gross revenue and fee income generated by SME banking business • Number and growth of SME clients in the period under review by gender • Market share position based on SME financing and deposits by gender • % of Non-Performing Assets by gender • % of digitally active SME customers by gender |
| Strategy | 25% | • Dedicated SME banking proposition for women entreprenuers • FI’s internal success metrics and attainment of KPIs • Uniqueness of initiatives executed in the period under review that resulted in women empowerment • Organisational structure and staff led by women |
| Score | 100% | Note: Only one final score is required for each entry/submission. The maximum total score is 100 but please take into consideration the assigned weights when finalising assessment. Entries with the highest score per award will be adjudged the overall winner. Annual turnover of SME bank can range from 0 to 50 Million USD. |
COUNTRY, REGIONAL & GLOBAL AWARDS - BEST DIGITAL SME BANK
We believe that the best digital SME banks are institutions that place digital-first thinking at the core of their SME
banking strategy. These banks leverage end-to-end digital platforms, data-driven decisioning, and ecosystem partnerships to
deliver seamless, fast and scalable financial solutions for SMEs. They enable SMEs to onboard, transact, access financing, and
manage their businesses digitally with minimal friction, while ensuring strong risk management, regulatory compliance and
sustainable portfolio growth.
| Dimensions | Weights | Indicators |
|---|---|---|
| Innovation | 25% | • End-to-end digital onboarding and account opening • Level of automation across SME lending lifecycle (origination, underwriting, disbursement, monitoring, collections) • Use of AI, machine learning, and alternative data for credit assessment and fraud detection • Open banking adoption, API-enabled platforms, and ecosystem integrations • Digital payment capabilities including real-time payments, QR, digital POS, and virtual accounts |
| SME Client Experience | 25% | • Simplicity, speed, and usability of digital channels (web, mobile, platform-based banking) • Number of digital steps to onboard, transact, and access financing products • Availability of self-service tools for cash management, invoicing, payroll, and reporting • Digital engagement, adoption rates, and active usage among SME clients • Customer satisfaction, advocacy, and digital support capabilities (chatbots, virtual RM, omnichannel support) |
| Financial and Market Performance | 25% | • Growth in digitally originated SME financing and deposits • Share of SME revenue and fee income generated through digital channels • Growth in digitally onboarded SME customers • Cost-to-serve reduction achieved through digitalisation • Portfolio quality of digital SME lending |
| Strategy | 25% | • Clear digital SME banking vision, roadmap, and governance • Alignment of digital initiatives with SME growth and financial inclusion objectives • Measurable KPIs for digital adoption, scalability, and profitability • Frequency of new digital product or feature launches • Partnerships with fintechs, technology providers, and digital ecosystems |
| Score | 100% | Note: only one final score is required for each entry/submission. The maximum total score is 100 but please take into consideration the assigned weights when finalising assessment. Entries with the highest score per award will be adjudged the overall winner. |
COUNTRY, REGIONAL & GLOBAL AWARDS - BEST SME BANK FOR CUSTOMER EXPERIENCE
We believe that the best SME bank for customer experience places the customer at the centre of their operating
model. These institutions deliver seamless, intuitive, and consistent experiences across physical and digital touchpoints, supported
by proactive service and personalised solutions. They understand the evolving needs of SMEs and combine human insight with
technology to simplify banking, build trust and create long-term partnerships that enable SMEs to grow and succeed.
| Dimensions | Weights | Indicators |
|---|---|---|
| Innovation | 25% | • Adoption of innovative technologies to enhance SME customer experience • Innovation in digital onboarding, e-KYC, financing applications, and service fulfilment • Introduction of new or differentiated SME products, platforms, or service models • Use of innovation to reduce friction, turnaround times, and operational complexity for SMEs • Track record of continuous innovation and scalability across SME segments |
| SME Client Experience | 25% | • Ease, speed, and transparency of SME onboarding, account opening, and access to key services • Consistency and quality of experience across physical and digital touchpoints (branch, RM, digital, call centre) • Effectiveness of omnichannel service delivery and self-service capabilities • Personalisation of customer interactions, offers, and solutions based on SME needs • Proactive communication, service notifications, and issue resolution |
| Financial and Market Performance | 25% | • Growth in SME customer base, deposits, lending, and transaction volumes • Market share and competitive positioning within the SME banking segment • Profitability and sustainability of SME banking operations • Customer retention, cross-sell, and wallet-share growth among SME clients • Demonstrated link between superior customer experience and financial performance |
| Strategy | 25% | • Clarity of SME banking strategy aligned with customer experience leadership • Alignment of operating model, technology, people, and processes to SME needs • Effectiveness of relationship management and advisory models for SMEs • Long-term commitment to supporting SME growth, resilience, and digital adoption • Use of customer insights and feedback to shape strategy and future roadmap |
| Score | 100% | Note: only one final score is required for each entry/submission. The maximum total score is 100 but please take into consideration the assigned weights when finalising assessment. Entries with the highest score per award will be adjudged the overall winner. |
