Enter Before

IAMAI Member

Non Member

INR

USD

INR

USD

Regular Deadline:
Till 01st Sep, 2022

₹5,000 + GST

$65 + Taxes

₹7,000 +GST

$90 + Taxes

Instructions

1. Each entry will be rated against five parameters

2. Each parameter holds equal weightage

3. The final score is weighted average of parameter scores

S. No

Criteria

Evaluation Methodology

Weightage

1

Innovation

1. How strategic is the innovation for the industry?

2. Is the innovation an original idea or is it copied / inspired from an existing solution within or outside the BFSI industry?

3. How complex is the innovation – simpler or pathbreaking?

4. Technology used

20%

2

Unique Proposition

1. How different and strong is the Unique value proposition?

2. How easy is it to replicate this for other players? Entry barriers?

3. What’s the competitive advantage offered?

20%

3

Scalable/Global outlook

1. Can the innovation be scaled to serve a large number of customers / geographies with consistency and without constantly being reinvented or adjusted?

2. How global is the service/product/platform?

3. Does it cater to a one-time unique need or customer demand? Or is designed to meet the changing requirement / future needs

20%

4

Customer Impact

1. What value does it deliver to the customer?

2. What's the reach/user base of this service/product/platform?

3. Is there a demand for the proposed innovation? How big is the demand / target market for which the innovation is intended?

4. How easy it is for customers to adopt/use?

20% 

5

Revenue Generating/ Cost saving potential

1. How relevant is the innovation to the core business / overall organization strategy for revenue generation or saving costs?

2. What’s the growth rate at which the product/platform is growing?

3. Return on investment

20%

Focus on DE&I principles in product and service offerings

Offer products and services that focus on/cater to underserved and under-penetrated groups (e.g., women, LGBTQ+, linguistic minorities, disabled persons, etc.) [Or highlight aspects of product/service that target the aforementioned groups]

Demonstrated commitment to the essence of DE&I principles in product and service offerings (e.g., easy access and affordability to improve accessibility to financial instruments)

Customer diversity relative to internal, industry or market benchmarks

25%

Representation

Percentage of employees from monitored groups (e.g., women, LGBTQ+, etc.) compared with company, labour market, or industry benchmarks

Percentage of employees from monitored groups (e.g., women, LGBTQ+, etc.) in leadership / senior leadership roles compared with company, labour market, or industry benchmarks

25%

Employee engagement and development initiatives

Employees are valued for their differences and their unique contributions

• Employees can voice their opinions without fear of retribution or rejection

• People are rewarded fairly, according to their job performance and accomplishments

• Training and other learning and development opportunities catered to minority identity group

25%

Inclusive policies and procedures (indicative list)

Flexible working policy

• Mental health and well-being policy

• Minority inclusion policies (e.g., LGBTQ+ inclusion policy)

Dignity at Work / Bullying, Harassment & Discrimination Policy

Disability & Reasonable Adjustments Policy

25%