The Excellence in Retail Financial Services and Technology Innovation Awards

The Asian Banker Excellence in Retail Financial Services and Technology Innovation Award is the most rigorous, prestigious and transparent country level award programme for consumer financial services and technology in Sri Lanka.

We assess banks and non-banks in Sri Lanka on a product and business level through a comprehensive evaluation process. Previously, we assessed banks based on criteria and scorecards which we believed the retail banking proposition and technology proposition should be. However, in line with the rapid transformation the financial industry is experiencing today we have also revamped our awards programme. Since 2018, we have redefined categories, introduced new scorecards and opened the programme to financial technology (fintech) companies, marketplace platforms and other alternative providers. Thus, non-bank players in Sri Lanka are eligible and invited to participate in the programme, in addition to commercial banks.

Since 2015, we have taken on an audit-based approach in the evaluation process. This involves submissions to be completed in a comprehensive datasheet where your basic quantitative figures will be collated and compared with your peers in the industry. Some of the figures will be used to establish a thorough understanding of best practices and benchmarks that the industry can use on a generic basis without compromising the confidentiality and competitive data.

We invite financial institutions and technology companies to make submissions to the inaugural Excellence in Retail Financial Services and Technology Innovation Sri Lanka Awards. The submission deadline was 19th April 2019. Winning initiatives, applications and programmes were announced on 10th May 2019. Please contact Chris Kapfer at ckapfer@theasianbanker.com if you are interested in participating in this or any future awards.

The Asian Banker ensures strict transparency and integrity in this programme, which is demonstrated from the various scorecards and rankings that we collate from our member-based Retail Finance Working Group as well as through our trusted panel of advisors, who supervise and review the work of our researchers.