Frequently Asked Questions

Applications for the 2023 BAI Global Innovation Awards will be accepted through June 30 and they must be submitted via the awards portal.

Please click here to view and download the application.

You’ll need:

• Primary contact information and the name of the person responsible for the innovation
• Focused and concise description of the innovation, supported by facts. Be prepared to explain:

• Why your submission is innovative
• Who the target market is – e.g., employees, retail or commercial customers, the community, or other stakeholders – and specific segments within these audiences including their attributes and size of the segment(s)
• What analysis, data and/or market research indicate the potential for this innovation to be viable
• What results you have achieved, for example, hitting key milestones, performance in beta testing or market research, in-market results, financial and customer feedback indicators, etc.
• The impact of the innovation on the target audience(s) and segment(s).

Please keep your submission specific to the content listed above.

We strongly encourage the team behind the innovation to submit a 2-minute video pitch highlighting the information requested above. We are not seeking highly-quality video – a cellphone, good lighting, and a tripod is all you should need, along with a passion to share, in a conversational style, why your submission is important. We want to have the opportunity to listen to you telling your story!

We encourage self-nomination from leading financial services organizations, including:

• Financial services companies, e.g., retail, commercial or community banks, neobanks, credit unions, insurance companies, monoline lenders, mortgage or payments companies, etc.
• Technology, data, or other financial solutions provider
  (if technology provider, you must submit with customer/partner’s permission)
• Fintech (B2B, B2C or B2B2C)
• Other services companies in the financial services industry, such as advisors, consultants, marketing/PR agencies, analysts, media companies, are encouraged to nominate any of their financial services clients or partners

Award entries can be submitted as a collaboration between one or more companies.

If you have any questions about submitting a nomination, please reach out to us at [email protected].

We encourage self-nomination from leading financial services organizations, including:

• Financial services companies, e.g., retail, commercial or community banks, , credit unions, insurance companies, , mortgage or payments companies, etc.
• Fintech (B2B, B2C or B2B2C)
• Technology, data, or other financial solutions provider
  (if technology provider, you must submit with customer/partner’s permission)
• Other services companies in the financial services industry, such as advisors, consultants, marketing/PR agencies, analysts and, media companies are encouraged to nominate any of their financial services clients or partners

Award entries can be submitted as a collaboration between one or more companies.

If you have any questions about submitting an application, please reach out to us at [email protected].

Participation is free.

The BAI Global Innovation Awards program isn’t limited to specific categories. Innovations can be anything financial services related to improving business or retail customer relationships, leading organizational changes or improvements, or serving communities.

Remember, not all innovation is about technology, think about organizational innovation, strategy innovation, process innovation, etc.

Click here for award details.

If you have any questions about which bucket your innovation may fall under, please feel free to email us at [email protected] with any questions. You may also view last year’s winners here for inspiration.

Is there an up-and-coming innovative leader in your organization? What makes them a Rising Star in your company and why should they be recognized? Tell us what drives their success and makes them stand out? Are they innovative, passionate, intellectually curious, driven yet also show empathy, authenticity, and positivity in all that they do?

Each organization is limited to a maximum of three submissions. Additionally, you cannot submit any one nomination to more than one innovation category. Any given nomination can only be submitted to one qualified category.

No, BAI does not accept repeat nominations of innovations submitted during a previous year. However, BAI will accept nominations of reimagined or updated innovations that have been submitted previously. If a previously submitted innovation has incorporated a new development, feature or upgrade that makes it different from its original state, it is eligible for nomination.

Yes, you may update your application until the June 30 submission deadline. However, your entry may be reviewed before then. Please contact [email protected] with any questions or to let BAI know you’ve modified your submission.

Winners are selected by the Innovation Circle, a select panel of distinguished judges and advisors from around the world, who are at the forefront of innovation in the financial services sector. Together with BAI leadership, they will review submissions, identify potential award nominees for consideration and select category finalists and winners.

The selection process involves multiple rounds of evaluation by the Innovation Circle to determine category finalists and winners

Submissions must be for innovations that have been taken to market and tested, at the minimum, as prototypes (we are not accepting submissions for ideas or concepts that have not been advanced to at least an early stage of market validation and are supported by concrete evidence of market potential).

Submissions will be assessed based on the following criteria:

We encourage you to bring your achievements to life for the judges by sharing insights into the rationale behind your innovation, your process and internal and/or partner collaboration, the challenge you are solving, etc. Telling your story by including such elements in your submission, being straightforward and authentic, will strengthen your case as a prospective Award-winner.

The 2023 Awards finalists will be announced September 2023.

The finalists and winners will be contacted prior to the official announcements. All nominees will be notified whether they are finalists, winners, or if they were not shortlisted.

Winners will be contacted by BAI to coordinate award receipt.

As a BAI Global Innovation Awards winner, your achievements will be celebrated in press, social media, and on BAI’s web and podcast properties, including:

• Exposure on the Awards website
• BAI social media channels
• Inclusion in press releases announcing winners’ names, their initiative, and their financial institution
• Opportunities to be featured in BAI podcasts, webinars, and BAI Banking Strategies Newsletter

Winners and finalists will also receive:

• Customized marketing templates to promote your accomplishment and
• Rights to use of the BAI Global Innovation Awards logo (for your marketing and social media channels)

Read more about Awards benefits here.

No, the awards recognize innovations from around the globe.

BAI reserves the right to reject entries that do not meet submission guidelines.

For general inquiries, please email [email protected] and we will respond in a timely manner.