Day by day, we are witnessing an increasingly development of the digital transactions and e-commerce worldwide. For the financial sector and in order to keep up with this development, an urgent need for a new generation of financial institutions have been evolved. A need for a non-conventional and new generation banks that goes beyond the traditional pattern of performance and services and fits with the customers’ requirements is needed.
Tremendous technological advances
Given the tremendous technological advances, the adoption of financial institution’s of the digital alternative have participated in providing effectively a large range of services at low costs that shorten time and place and fits with the customers’ requirements.
In this respect, and in order to implement the Memorandum of Understanding between the Union of Arab Banks (UAB) and the Arab Information and Communication Technologies Organization (AICTO), both organizations are launching the first edition of the “Arab Digital Banking Excellence Award” for 2018.
The main goal of this annually award is to appraise and showcase the efforts of the Arab banking institutions in providing and developing digital services, as well as encouraging and motivating all stakeholders in order to move forward in providing innovative and creative digital solutions and services to all beneficiary parties (customers) by the usage of the new technological trends to the development of such a vital sector.
Goals of the Award
There are Five main goals of the » Arab Digital Banking Excellence Award – 2018″
- Establishing the culture of excellence and positive competition among the Arab financial institutions (Banks) in the field of digital transformation and the development of new digital services
- Appraising the innovative services provided by the Arab Banks and the FinTech Companies and disseminating them amongst the region
- Achieving the Digital Financial Inclusion within the Arab region namely in the least developed countries and highlighting the role of the technological development in the access of all citizens to the financial services
- Encouraging investment in the innovative projects dealing with the financial solutions, services and digital financial applications
- Enhancing the awareness amongst the Arab Citizens about the reliability of the digital financial services and solutions provided by the Arab Banks/Financial institutions
UAB / AICTO
Union of Arab Banks
The Union of Arab Banks (UAB) is an Arab regional organization working within the framework of the unions emanating from the League of Arab States. The UAB is currently comprised of over 320 Arab banking and financial institutions …
Union of Arab Banks (UAB)
The Union of Arab Banks (UAB) is an Arab regional organization working within the framework of the unions emanating from the League of Arab States. The UAB is currently comprised of over 320 Arab banking and financial institutions within its membership, making it the largest banking and financial consortium in the region.
The UAB mission is to be:
- A central reference point for financial and banking Community in the Arab region;
- Supportive for boosting links between its members and strengthening cooperation between their activities and defending their interests;
- Developer of the Arab Financial thought and the Arab banking industry on solid and sustainable basis;
- A gateway for Arab Banks to the rules of the international banking and to facilitate and enhance their integration into the global banking and financial industry.
To be the leading banking and financial organization in the Arab World, working to enhance the Arab financial and banking industry towards a more professional level.
Arab Information and Communication Technologies Organization
AICTO is the leading regional organization fostering the development of information and communication technologies infrastructure and services. AICTO aims at developing ICTs throughout the Arab countries region …
The Arab Information and Communication Technology Organization AICTO is the leading regional organization fostering the development of information and communication technologies infrastructure and services. AICTO aims at developing ICTs throughout the Arab countries region by promoting common policies and strategies to develop vital technological domains; providing the adequate environment to prepare, upgrade and attract Arab ICT skills and experts taking advantage from initiatives and advanced experiences in matter of ICT deployment, among others;
AICTO Strategic Vision:
AICTO is working to achieve: “Toward a harmonious Arab digital society based on innovation and technological innovation that supports Arab-regional integration and contributes effectively to the growth of the sustainable global digital economy”.
Providing an open platform for ICT Multistakeholders (Public sector, Private sector, Civil Society and specialized bodies) : for dialogue, experience & expertise sharing and for technological knowledge transfer.
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Categories of the
The « Arab Digital Banking Excellence Award – 2018 » is composed of 5 main categories. Categories have been carefully chosen to ensure the highest transparency and efficiency in the process of selection of Award winners. Each category of the Award has its own and specific assessment criteria.
A specialized “Jury Committee” composed of high profile experts in the field will evaluate/assess all applications and select the initiatives which have the biggest impact on users/customers in the Arab region by providing and delivering digital financial services.
The selection procedure will be based on scientific criteria (as mentioned earlier)
Jury Committee members
- Union of Arab Banks (UAB) : Secretary General
- Arab Information and Communication Technologies Organization (AICTO) : Secretary General
- An International expert in FinTech
- An International expert in the field of Mobile Applications
- An expert representative of « GSMA »
- An expert representative of « ITU »
- Representatives from Arab Central Banks
- An Arab or International expert in the field of Financial services
Conditions and mechanisms of participation
All parties wishing to participate in the “Arab Digital Banking Excellence Award – 2018” are kindly invited to fill on the “Registration Form” « Arabic » or « English« and send it to the following e-mail: firstname.lastname@example.org, no later than the 15th December 2018. If you would like to share more information, you have to send enclosed separate documents with the form.
To get a word version of the “participation form”, please send a request to the e-mail mentioned above.
- Candidates could apply for more than one category of the Award
- The service, application or the website has to be officially launched and being already in use (for categories 2/3/4)
- The application form has to be sent in two languages “Arabic” and “English” signed by the director/responsible of the ICT department in the Bank. (All needed information have to be provided). The application form has to be accompanied by the proof of Bank Transfer, as indicated.
- Participants will receive an e-mail, either to confirm the participation or to ask for additional information to complete the file, within the deadlines set out.
Please note that the information about the Awards’ conditions and procedures are provided in details through this website. Also you can can find it in the following documents :
“Arab Digital Banking Excellence Award – 2018” BROCHURES
Phases of the Award
1. Phase 1 : Launching and promotion
This phase includes the announcement about the launching of the “Arab Digital Banking Excellence Award – 2018” during the opening ceremony of the “SITIC-Africa – 2018” – 10 April 2018 in Tunis – Tunisia, to promote it at local, regional and international levels.
After that, official letters are to be sent to the potential participants by the Union of Arab Banks and the Arab Information and Communication Technologies Organization. In addition, various communication channels have to be used (Written and Audiovisual Media) besides the development of a Website and the use of the social media channels.
2. Phase 2 : Phase of Application
The application for the “Arab Digital Banking Excellence Award – 2018” will be open from the 1th of July 2018 to 15 December 2018 upon the conditions and procedures mentioned earlier.
3. Phase 3 : Phase of Assessments
During this phase, the dedicated jury will assess all applications for the Award categories and select the best of them during the period from 15 December 2018 to 31 January 2019.
4. Phase 4 : Phase of coronation
A coronation ceremony will be held to announce the final results and award winners in the first “Arab Digital Banking Excellence Awards – 2018” within the scope of a regional conference on “Digital Banks Services and Solutions” to be held in partnership between the Union of Arab Banks and the Arab Information and Communication Technologies Organization during the first quarter of 2019. (Details are to be provided later).
The ceremony will be Broadcast live on an Arab TV Channel
Besides the Financial institutions winners in the Award, all Arab Financial Institution are to be invited to the ceremony in addition to many Arab and foreign Stakeholders from the financial and the financial technology (Fintech) fields. During the ceremony, winners will present and showcase their projects and experiences.
- Annual subscription in the UAB’s magazine (2 editions)
- Special annex of 10 pages of the UAB’s magazine (to be distributed to all Banks members)
- A contract for advertisement space in the UAB’s magazine (3 months)
- Display of its Name and logo in the websites of UAB (www.uabonline.org) and AICTO (www.aicto.org )
- A free of charge participation for 2 people in the Annual Arab Banking Conference for 2019 to be held in Bayreuth – Lebanon during the month of November 2019
- Winners will be awarded during the Awards’ ceremony.
For the first category; Best Digital Bank in the Arab region: Winners will receive a special award from the jury: “Digital Excellence Award”.
(*) As mentioned before, this award will include only the first place to be given to three banks from the Middle East, Gulf and North Africa regions.