The Categories 

Read a bit more about each category and find out what the judges will be looking for.

Best Innovation in Marketing

This category focuses on innovation within marketing. Entrants will have implemented an innovative marketing technique or strategy within their business, market or category.

We consider marketing to include brand, data, digital, design, communications and PR.

The innovative marketing technique or strategy might focus on a specific marketing campaign or a broader brand-level initiative. The end-user of the innovation will be a consumer (B2C), institutional client (B2B) or intermediary as opposed to an internal audience.

Best Innovation in Product

This category focuses on an innovation or transformation in product design. The innovation will have either been directed towards an existing product i.e. a significant change or improvement or the conception of an entirely new product or offering.

Whilst the entry will centre around product research and design, submissions from cross-department teams are welcomed.

Best Innovation in Customer Service

Entrants to this category will evidence that they have made an innovative change or improvement to their existing customer proposition that has enhanced the service level offered by their business.

We will be looking for how the project was innovative and transformative, as well as the evidence of how the customer service is now better as a result of the change.

The 'customer' can be a consumer (B2C), intermediary or institutional client (B2B).

Best Innovation in Use of Technology

In some cases, the availability of new technology is the trigger for innovation and change.

This category asks entrants to explain and evidence how the implementation of a single technology or technology stack has resulted in a transformative or innovative change to either internal users or an external audience or customer.

The resulting change or transformation can encompass a change to behaviour i.e. a change to purchasing habits, streamlining a process or workflow (affecting both internal and external audiences) and improvements to customer experience and services.

Best Innovation in Design Thinking

This category focuses on the application of design thinking to a marketing or product design challenge. Entrants will have approached the problem to be solved in a non-linear way and should be able to show how this process led to better results, whether in terms of implementation, ROI or impact.

Design thinking can have been used to inform any part of the process. This could include the marketing approach, the brand or product positioning within the market, or the product itself.

Best Innovation in Channel or Format

The marketing channel ecosystem has exploded over the past decade. From podcasts to video and social media, financial services marketers are no longer confined to print and direct mail.

Entrants to this category can evidence how they've successfully utilised a channel or format not previously used in their business and/or market.

We recognise that it may be significantly more difficult to launch new channel in one financial services sector than another, so the judges will consider the individual circumstances and context of each business when assessing how innovative it is.

Where relevant, a good background description in the 'Summary' section will help outline the state of play.

Most Transformative Customer Insight

For many businesses, innovation and transformation is born from customer insight. Perhaps the insight uncovers a new customer, behaviour or segment which then leads to a new product or marketing campaign.

This category asks entrants to outline the strategy and thinking that led them to undertake customer research, and how the resultant insight shaped a change or transformation within their department or wider business.

Best Marketing Led Business Change

As the voice of both the customer and brand, marketing is often the champion of change within a company. This change might be technology, value, brand or customer based - or perhaps even a new way of working internally.

In this category, we'd like to hear about a marketing led initiative that created a change with a subsequent wider impact on the business.

High scorers will be able to evidence an impact on behaviour, efficiency, internal and external engagement or sales.

Most Transformative Internal Collaboration

Many businesses have discovered that siloes can be a barrier to innovation and that creating meaningful change requires bringing multiple departments on board.

In this category, we'd like to hear about how cross-departmental teams have worked together to build an innovative product, service or campaign. The output might also be broader, such as transformative values or an ESG offering.

Whilst the output (product, service or campaign) has significance, we are most interested in why this collaboration was transformative within the business and the factors for success in bringing different teams together.

Best Innovation on a Small Budget (>£100k)

Some of the best innovation and transformation initiatives come from a single meaningful insight, sparking one small change that then has a bigger domino effect. You don’t always need to allocate large amounts of budget to spark innovation, change or transformation.

Entrants to this category should be able to explain and evidence how they’ve had a transformative impact on internal or external audiences, process or consumer behaviour, without spending over £100k on the project.

Most Innovative Company of the Year*

In this category, we're looking for a financial services business who have demonstrated dedication and commitment to change or innovation.

We recognise that innovation is not always easy in a regulated environment, so this award specifically celebrates an FCA or PRA regulated company.

Innovation Leader of the Year (Individual)*

Leading innovation and change projects is not for the faint hearted. In addition to encouraging innovative thinking within a team and making sure a project remains on track, leaders must gain senior buy-in and most importantly, acceptance and uptake from the wider business.

We want to hear about the individuals who have led the teams trailblazing change within their business.

Most Innovative Agency Partnership*

An excellent agency can be the backbone of change and transformation within a client's business, delivering the new capabilities, expertise or understanding of customers that will drive innovation and transformation.

We want to hear about the standout partnerships with agencies, consultancies and partners and why they were transformative.

The partnership might have centred around a single campaign or could be broad, such as a new way of working, implementation of a technology or company-wide branding and values.

*The following categories have a slightly different marking criteria to the core categories, asking you to respond to a unique set of questions. So, be sure to check the marketing criteria page here before writing your entry.

Judges' Special Awards

All entrants are automatically entered into the Judges' Special Awards. The gongs are given out at the discretion of the judging panel, commending the most exceptional entries of the cohort.

Best Creative Leap

This special award commends the entrant that has made the most impressive and courageous leap into the unknown, challenging the status quo and overcoming significant barriers.

Best Innovation in B2C

This special award is presented to the best overall innovation, transformation or change project in the B2C space.

Best Innovation in B2B

This special award commends the best overall innovation, transformation or change project in the B2B space.

Most Innovative or Transformative Idea

Einstein said that ‘if at first the idea is not absurd, then there is no hope for it’. This award celebrates the a single transformative ‘eureka!’ moment that sparked change within a business.

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