IBSi Annual NeoChallenger Bank Awards 2023
Nominations Open August 2023

With dynamic online platforms, innovative user experience, and faster delivery of offerings, Neobanks and Challenger banks are presenting themselves as more flexible and inclusive alternatives to traditional banks. Traditional banks, too, have recognised this fact and have already begun creating digital-only banking subsidiaries of their own. In recognition of the emergence of these banks and the changing market dynamics of banking, we are pleased to invite you to participate in the second edition of the Annual IBSi NeoChallenger Bank Awards.

The IBSi NeoChallenger Bank Awards 2022 will identify and honour technology players, Banking as a Service (BaaS) providers, Digital Banks, and NeoChallenger Banks for their excellence in driving impact through banking technology implementations and innovations using emerging technologies.

IBSi NeoChallenger Bank Awards Categories

Recognizing excellence in implementation of technology at neobanks, challenger banks, and digital arms of traditional banks across the following categories:

* Examples include Islamic Banking, Lending, Wealth Management, etc.

Any entity whether it is a Software Provider, Service Provider, Neobank, Challenger Bank, digital bank and Banking as a Service Provider can send in nominations. The only criterion for submission is that the solution is implemented at any digital-only bank and it should be live before June 2022.

The nomination can be a combination of any of the following:

• Software provider and a digital bank
• Service provider and a digital bank
• BaaS provider and a digital bank
• Any digital bank who has done the technology implementation in-house

In the case of Software Suppliers, Service Providers, and BaaS providers submitting the entry, they need to secure prior approval from the bank involved.

The IBSi NeoChallenger Bank Awards recognise innovative and impact-generating projects. On many occasions, there can be multiple projects running in parallel at a particular financial institution. Hence there is no restriction on the same financial institution being nominated for multiple categories.

The nominations will be adjudged by the jury based on industry-leading criteria. Some of the typical criteria for evaluation are listed below:

IBSi Neo & Challenger Bank Awards 2022 Evaluation Criteria

1. Customer Experience (Flexibility across channels, access to employees, self-service experience)
2. Innovation in Offering (Customer-centric products, analysis of customers’ preferences, launching new products)
3. Implementation Excellence (Speed to market, methodology and tools used during implementation)
4. Customer & Program Impact (Potential benefit/impact to/on customers, program ROI, etc.)

No, there is no cost attached the participating in the IBSi NeoChallenger Bank Awards.

Yes, there is no limit to the number of nominations one institution sends in for consideration. However, each nomination must be made as a separate application.

* Please note that browser limitations may require you to clear your cache / open the link in private or incognito browsing mode to submit more than one application.

The IBSi NeoChallenger Bank Awards’ jury would be evaluating the quality and nature of the submissions made. The panel would make an informed decision on the banks that need to be contacted for necessary validations and/or confirmations. This would be determined, among other factors, based on the supporting documentation provided, information validated in the public domain as well as the existing knowledge base with IBSi. The panel reserves the right to contact the banks quoted in supplier submissions. The IBSi team would keep the supplier informed before formally connecting with the relevant contact person at the bank, as referred in the submission details.

IBS Intelligence reserves the right to use the information to analyse the key trends, developing content, and publish in the form of Journal Articles and/or Case Studies, etc. on various media and IBSi’s reports and tools.