AI in Finance & Banking

Below is the criteria for Global AI Awards in Finance & Banking Category:

1. Design (25%)

• Quality and robustness of AI system design for financial services and banking operations.
• Integration with existing financial infrastructure, platforms, and compliance systems.
• Security, privacy, and regulatory adherence (KYC, AML, GDPR, Basel, etc.).
• Transparency and explainability in financial decision-making.

2. Impact (35%)

• Demonstrated improvements in efficiency, risk management, fraud detection, or customer service.
• Measurable outcomes such as reduced fraud losses, improved credit scoring accuracy, or faster transaction processing.
• Broader financial inclusion (access to banking, microfinance, or credit for underserved populations).
• Contribution to industry transformation (digital banking, open finance, embedded AI services).

3. Creativity (25%)

• Innovative applications of AI in wealth management, trading, fraud prevention, or personalized financial products.
• Novel approaches to predictive analytics, market forecasting, or automated advisory services.
• Differentiation from conventional fintech or banking tools.
• Pioneering uses of AI with blockchain, decentralized finance (DeFi), or digital assets.

4. Ease of Use (15%)

• Accessibility for both customers and financial professionals.
• Intuitive interfaces (chatbots, robo-advisors, fraud alerts) that simplify complex financial tasks.
• Low barriers to adoption for institutions of varying sizes.
• Training, documentation, and support for users at all levels.