The Arab ICT Organization AICTO and the Union of Arab Banks UAB organized the second edition of the “Excellence Awards For the Best Arab Digital Financial Institutions for the year 2020-2021” on May 28, 2021, in Beirut – the Republic of Lebanon, and it is worth noting that the first edition of the award was organized In Tunis – Tunisia on March 8, 2019.
Within this context, HE. Eng. Mohamed ben Amor _ Director-General of the Arab ICT Organization stressed during his welcoming speech the entitlement of honoring these financial institutions and praise their exerted and exceptional efforts, especially during the Corona crisis.
He also expressed his sincere thanks to all these institutions for their keenness to maintain the continuity of their work and ensuring the safety of customers in all countries and regions by resorting to the digital alternative to provide their services.
The Director-General of AICTO pointed out that this initiative launched by the organization in collaboration with the Union of Arab Banks in 2018, was addressed mainly to Arab banks in order to introduce their efforts in the field of digital transformation and the adoption of digital solutions to improve the quality of their financial services provided to clients.
The current edition of the award is distinguished by a new specificity through the involvement of the postal sector alongside the bank sector in order to highlight the steady development of postal digital financial services in many Arab countries in recent years.
The second edition will continue to highlight and follow the efforts of Arab financial institutions (including the two sectors, banking, and postal services), in developing digital strategies aiming at improving and providing innovative digital financial services in order to achieve leadership in the field, gain customer loyalty, and contribute to global efforts towards achieving financial inclusion.
This ceremony witnessed a wide participation of diplomats and high-level officials in the economic and media fields, in addition to the attendance of many distinguished and active personalities in the banking and technology fields from the Arab region.
Towards more innovation and inclusiveness
Worldwide, the financial sector is witnessing a great revolution going in pair with technological development to serve better customers more and more connected and demanding. A new generation of financial institutions has been evolved to emerge a non-conventional Banks and Posts with the aim of going beyond the traditional pattern of performance and services to fits with the customers’ requirements and to provide the required digital innovation to be able to keep up with the tremendous technological advances.
Theme of the Award – 2020
Excellence Awards for Best Arab Digital Financial Institutions – 2020
Innovation – Inclusiveness – Loyalty – Wellbeing
This year’s edition of the Awards (2020) has the specificity to include besides the banks in the Arab countries the postal sector, which was constantly growing during the last few years, and continue to grow in an overwhelming number of Arab Countries.
Arab Excellence Awards – 2020 | Best Digital Financial Institutions in the Arab region
- Best Digital Banks
- Best Digital Posts
Based on the outcomes of the first edition of the Award, the second edition will continue to appraise and highlight the efforts of the Arab financial institutions (including the banking and postal sectors), in the setting up of digital strategies aiming to develop and deliver innovative digital services. All this to lead the way and gain the loyalty of customers/Consumers and to participate to the global efforts towards the financial inclusion.
Three major goals are to be achieved through this competition: “Arab Excellence Awards for Digital Financial Institutions – 2020” : INNOVATION – INCLUSION – LOYALTY – WELLBEING
Goals of the Awards 2020
Three major goals are to be achieved through this competition: “Arab Excellence Awards for Digital Financial Institutions – 2020” :
1. Innovation: Appraising the innovative services provided by the Arab and regional Banks and postal institutions and disseminating them among the region as success stories in the adoption of the digital transformation to develop new digital services
2. Inclusion: Achieving the Digital Financial Inclusion within the Arab region namely in the least developed countries and within the isolated areas and highlighting the role of the technological development in the access of all citizens to the financial services.
3. Loyalty: Enhancing the awareness amongst the Arab Citizens about the reliability of the digital financial services and solutions provided by the Arab Banks and postal institutions to improve their loyalty and security feeling.
4. Wellbeing: Recognizing the contribution of the financial institutions in the Arab region in the national efforts to face the challenges being imposed by the COVID-19 pandemic outbreak, as part of their Customer Experience mandate.
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 the 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;
- The developer of the Arab Financial thought and the Arab banking industry on a solid and sustainable basis;
- A gateway for Arab Banks to the rules of 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
“Arab Excellence Awards for Digital Financial Institutions – 2020” is composed of two main categories : Excellence Awards for the Best Digital Banks and Excellence Awards for the Best Digital Postal Institutions. assessment criteria have been carefully chosen to ensure the highest transparency and efficiency in the process of selection of the winners.
A specialized and totally independent “Jury Committee” composed of high profile regional and international experts in the field will study and evaluate all applications and select the initiatives and services having 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).
The Jury Committee will be composed of eminent International Independent Fintech Experts
(*)Please note that the selection of the winners of these awards will be the responsibility of the independent jury, as mentioned above and that AICTO and UAB have no role in this process.
Jury Committee members
- Dr. Bilel Jamoussi _ Chief Study Groups Department – ITU-T
- Mrs. Whynde Kuehn _ Founder and Managing Director S2E Transformation
- Mr. Ammar Hamadien _ Co-Founder and Chairman of Sudan FinTech Association – Shomoul
- Mr. Mick Simonelli _ Chairman of the Board for the Learning Company Accelerator (Alamo Colleges)
Conditions and mechanisms of participation
All parties wishing to participate in the “Excellence Awards for Arab Digital Financial Institutions – 2020” are kindly invited to fill on the enclosed “Registration Form” and send it to the following e-mail: firstname.lastname@example.org, no later than the 31st of March 2021. If you would like to share more information, you have to send enclosed separate documents with the Registration Form.
- The application form has to be sent in two languages “Arabic” or/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 find it in the following documents :
“Excellence Awards for Best Arab Digital Financial Institutions – 2020” BROCHURES
Phases of the Award
Phase 1 : Launching and promotion :
This phase includes the announcement about the launching of the “Excellence Awards for Arab Digital Financial Institutions – 2020” through the website and all communication channels for AICTO and UAB by the 9th of September 2020. Besides, official invitation letters are to be sent to the potential participants by the Union of Arab Banks and the Arab Information and Communication Technologies Organization.
Phase 2 : Phase of Application :
The application for the “Excellence Awards for Arab Digital Financial Institutions – 2020” is open from the 9th of September 2020 to the 31st of March 2021 upon the conditions and procedures mentioned earlier.
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 of 1st April 2021 till 30 April 2021.
Phase 4 : Phase of coronation/ Awarding :
A coronation/awarding ceremony will be held to announce the results and award winners in the “Excellence Awards for the Best Arab Digital Financial Institutions – 2020”. This ceremony (Gala Dinner) will be held during the second half of 2021 in the Republic of Lebanon.
The ceremony will be Broadcast live on an Arab TV Channel
Besides the winners of the Awards, all Arab Financial Institutions 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, short videos about the awarded financial institutions will be released.
- Annual subscription (for one year) in the UAB’s magazine (2 editions)
- Special annex of 10 pages of 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)
- AICTO will provide all winners by a page of advertisement in its Magazine “Smart” (Special edition about Digital Financial Services) to be sent to all countries members and also the private sector in the Arab Region
- Winners will receive special trophies of the “Excellence Awards for Arab Digital Financial Institutions – 2020”