Rules and Eligibility
Eligibility Criteria:
- All Indian and global companies or organizations operating within the financial ecosystem, are invited to apply.
- Projects and innovations should be launched/completed between 1st April 2024 and 31st March 2026 (except for the 'Special Fintech Achievements' category).
Rules:
- Please fill out a separate form for each category.
- All submissions must be in English.
- Each submission should clearly demonstrate the strength in the specific category by articulating differentiators, innovation, and impact created.
- Application fees applicable per category / submission.
- Startup Eligibility: Startups must be no older than 5 years to be considered for nominations.
Judging Criteria:
Each entry will be rated against five parameters. Each parameter holds equal weightage.
The final score is the weighted average of parameter scores.
| Sr. No | Criteria | Evaluation Methodology | Weightage |
|---|---|---|---|
| 1 | Innovation | How strategic is the innovation for the industry? Is the innovation an original idea or is it copied / inspired from an existing solution within or outside the BFSI industry? How complex is the innovation – simpler or pathbreaking? Technology used | 20% |
| 2 | Unique Proposition | How different and strong is the Unique value proposition? How easy is it to replicate this for other players? Entry barriers? What's the competitive advantage offered? | 20% |
| 3 | Scalable/ Global Outlook | Can the innovation be scaled to serve a large number of customers / geographies with consistency and without constantly being reinvented or adjusted? How global is the service/product/platform? Does it cater to a one-time unique need or customer demand? Or is it designed to meet the changing requirement / future needs | 20% |
| 4 | Customer Impact | What value does it deliver to the customer? What's the reach/user base of this service/product/platform? Is there a demand for the proposed innovation? How big is the demand / target market for which the innovation is intended? How easy it is for customers to adopt/use? | 20% |
| 5 | Revenue Generating/ Cost Saving Potential | How relevant is the innovation to the core business / overall organization strategy for revenue generation or saving costs? What's the growth rate at which the product/platform is growing? Return on investment. | 20% |