2020 Bank of the Year Awards

Click here to cast your vote for your 2020 Bank of the Year.
Voting Deadline is Friday, 27 November 2020

 

The ECCU Bank of the Year Awards recognise the banks which have made outstanding contributions to the overall development of the people they serve through everyday business practices.

The Awards are presented to the banks that are adjudged to have demonstrated excellence, to the highest level, in the following categories over the past year:

  • Customer Service
  • Financial Education and Empowerment 
  • Technological Innovation
  • Pandemic and Banking

The inaugural Awards were presented on 6 November 2019 during the 24th Annual Sir Arthur Lewis Memorial Lecture and Book Award. The 2019 winners were:

  • St Kitts-Nevis-Anguilla National Bank - Corporate Social Responsibility
  • Antigua Commercial Bank - Corporate Governance
  • CIBCFirst Caribbean International Bank (Saint Lucia) - Customer Service
  • Republic Bank (Grenada) Limited - Financial Education and Empowerment
  • Grenada Co-operative Bank - Risk Management
  • Bank of St Lucia - Technological Innovation

Assessment of categories

Customer Service

Demonstration of the delivery of highly personalised commercial and retail banking products and services.

  • Clearly stated policies and best practices promoting customer service excellence
  • Customer feedback programmes
  • Customer appreciation programmes
  • Commitment to customer service excellence via the continued development of staff
  • Improvement of facilities and services

Financial Education and Empowerment

Demonstrated commitment by devoting resources to promote a better understanding of financial services and products, entrepreneurship, and general savings and investments issues.

  • Participation in Financial Information Month
  • Participation in or coordination of outreach programmes promoting entrepreneurship, savings and investments
  • Provision of small business credit and advisory services
  • Spear-heading of initiatives to educate citizens about asset management and protection

Technological Innovation

Novel delivery of initiatives or policies that enhance the bank’s products and services by providing innovative technological solutions for market needs.

  • Use of digital channels to enhance customer experience
  • Efficiency in use of technology

Pandemic and Banking

Took active steps towards business continuity during the course of the COVID-19 pandemic with activities including:

  • Introduction of procedures to accommodate employees’ safety and comfort; business continuation during the pandemic and measures to ensure customers’ safety.
  • Support for customers including, but not limited to:
    1. Provision of cashflow support
    2. Lower cost of lending
    3. Provision of new and innovative types of lending
    4. Participation in Loan Deferral Programme
    5. Provision of assistance with digital banking
  • Measures taken to maintain profitability

Criteria for Awards

All commercial banks operating in the ECCU region that are licensed under the Banking Act are eligible to submit entries for the ECCU Bank of the Year Awards regardless of size, location or ownership.

General Entry Information

  • Entry to the ECCU Bank of the Year Awards is free via an online entry portal which will be provided by the ECCB. 
  • Each submission must be completed in a separate online entry form. If you are entering more than one award category, you will need to complete one online form for each award.
  • All details submitted, including those of references, will be held in strictest confidence.
  • Submissions in a category should describe the activity or initiative undertaken by the bank and should outline how the initiative has impacted customers/members of the community, improved the institution’s effectiveness and further its goals and objectives.
  • The ECCB is likely to ask for client and/or other references during the shortlisting phase. These references are important as they assist the judges in assessing the submission.
  • Please note the quality of your entry can affect the outcome of judging for each category. Information should be presented in a clear, concise and logical format.
  • You may amend your submission(s) at any point and resubmit up until 13th November 2020. However, note that only the last version of your entry will be assessed.

Entry Requirements:

  1. A statement, no longer than 500 words, explaining why your bank should win the Award in the respective category. Justification material can be uploaded along with the entry.
  2. Details of key contact person(s) within the organisation with reference to the bank’s participation in the initiative.
  3. A brief statement of no more than 100 words to be used as the description of your bank in regard to your submission(s) for the online voting portion of your score. Voters will cast their votes based on this statement.

Selection of Awardees

The entries will be assessed by a panel of judges selected by the ECCB. 

The judging process will include: assessment of the entries; selection of a shortlist for each category; interviews with shortlisted banks and online voting scores. Banks are allowed to encourage members of their communities to log-on and vote. The ECCB will alert the banks once the voting feature is available.

The entries will be assessed based on information provided by the banks outlining their contributuion and participation in the respective categories using a points system amounting to 100 for each category. The final overall score includes:

  • The submission (60%);
  • Interview (30%); and
  • Online voting by the public (10%).

The bank that amasses the highest score in each category will receive the ECCU Bank of the Year Award in the respective category. 

Recognition of awardees

The ECCU Bank of the Year Award is the only one of its kind in the ECCB member countries. The Awardees will be announced via the ECCU media and published on the ECCB website and Social Media platforms.

Entry Deadline

Entries for the 2020 ECCU Bank of the Year Awards should include activities undertaken by the commercial bank over the period September 2019 to October 2020. Multi-year efforts may also be considered. Submissions are to be uploaded no later than 13th November 2020 via the electronic portal.

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