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Presented by The London Institute of Banking and Finance and UK Finance

13 June 2018 

Financial Innovation Awards 2018: categories released and open for entries
17 categories have been announced for the annual Financial Innovation Awards 2018 (FIA) which are now open for entries. The awards highlight best practice, product innovation and projects that have a positive impact on the finance sector, consumers and communities across the globe.

Alex Fraser, Chief Executive at The London Institute of Banking & Finance, said: “There are extraordinary levels of innovation and creativity in financial services around the world, delivering services that benefit us all. These awards recognise the development of innovative products and services which empower consumers, under-served communities and businesses.”

Categories  cover:
1. Products & services
, including innovation in product or service design, payments, mobile banking and product delivery 
2. Marketing & customer experience, including innovation in data and its application, customer service and customer-focused innovation
3. Finance in the community, including innovation in sustainability, financial inclusion and outreach
4. Technology, including best fintech partnership and a new category for open banking
5. Best financial start-ups

Some of last year’s winner’s, announced by host Claudia Winkleman, included Barclays Bank, confused.com, GFT and Deutsche Bank, First National Bank South Africa, Lloyds Banking Group and Ziraatbank. 

Examples of the 2017 winners:

• Best Payments Initiative 

Puresoftware’s Arttha cloud-based technology platform enabled 180 of Nepal’s cooperative banks to offer customers innovative digital services. The judges applauded their “innovative application which is having a massive impact on small community banks.”

• Innovation in Sustainability or Social Responsibility
Investec’s provides ‘Wealth and Investment’ volunteers opportunity to use their skills to significantly impact students from disadvantaged backgrounds. It impressed the 
judges with its “educational and aspirational experience for children.” 

• Innovation in Product Design
First National Bank South Africa recognised that not all their customers can afford smartphones, so they developed a rewards programme that incentivises saving towards a deposit and packaging the Android handset cost-effectively. 
The awards are sponsored by financial education body The London Institute of Banking & Finance.

NOTES TO EDITORS
The 2018 categories are available here.
Contestants have until 20 July to enter submissions for discounted entry, with final entries closing on 3 August. The Financial Innovation Awards 2018 will be held on Thursday 6 December at the Hilton London Bankside.

About The London Institute of Banking & Finance:

• The London Institute of Banking & Finance is a professional body and leading provider of financial education.  It has been at the heart of the finance sector since 1879.
• We are the only specialist provider of dedicated personal finance qualifications under the national curriculum in schools across the UK.
• We’re also a specialist university college, providing undergraduate and postgraduate degrees for students aiming to pursue a career in banking and finance.
• And we’re an awarding body for finance sector qualifications covering a range of subjects, including in banking, trade finance, conduct, ethics, investment and financial advice.