National Award of Innovative Technologies for Financial and Insurance Companies
About competition
The Finance Innovation Awards Russia competition was established in 2024 by the international technology community Spectrum350, leading IT companies and banks of Russia.
Purpose of the Finance Innovation Awards Russia
The Purpose of the Finance Innovation Awards Russia is to:
Recognize
Russian and international companies developing innovative technological solutions for the financial and insurance sectors, as well as banks and insurance companies actively implementing such products.
Communicate
Best on market solutions and cases to Spectrum350 members and partners, and professional community in Russia and abroad.
Establish
The process of continuous experience exchange and the unification of competencies among our members. To provide access to the best global and regional practices in fintech innovations.
Awards application process
The Finance Innovation Awards Russia application process includes 3 steps:
"Promo 2+1" - Every third application from the same company is submitted to the competition without paying the entry fee.
"Loyalty" - A 5% discount for any company that has previously participated in any competition conducted by Spectrum350.
"Leadership" - A 10% discount for companies submitting 5 or more applications to the competition.
Project entry criteria for The Finance Innovation Awards Russia'26 competition:
project implementation / product rollout must have gone live and be actively used by the business or company between 2 and 15 months before the award submission (Jan.,01 2025 - June 30 2026);
both customers and Implementation partners (or agencies) on behalf of customers may apply;
each nominee may apply in several categories.
Final Entry Deadline: December,02 2026.
EVALUATION CRITERIA
The following criteria weighting will guide the jury during judging rounds.
For products each entry is evaluated on:
Product Functionality (30%).
Competitive advantages (20%).
Business benefits (50%): What business benefits have been achieved as a result of the implementation?
For cases each entry is evaluated on:
Project Concept (30%): How strong, breakthrough, unique and relevant is the concept?
Creativity (20%): How engaging is the entry?
Business benefits (50%): What are the quantitative indicators confirming the success of the project.
THE JUDGING PROCESS AND AWARDS
Secret ballot of the Jury board will take place between Dec.,02 - Dec.,06 2026, followed by short list of The Finance Innovation Awards Russia announce. In controversial situation nominee may be invited to present his project to a jury board in a 30 minute webcast session. Finally for each category only first winners will be named.
Spectrum350 technology community, established in 2013, already unite over 200 companies and 1000+ professionals from 17 countries, developing global technology industry.
Promotion
Winning cases will be profiled in The Finance Innovation Awards Russia Annual, which is distributed digitally thru Spectrum350 and media-partners network, including web-sites, social networks and e-mailings. Additionally each winner will become a presenter on our next annual Future Finance conference.
Hall of Fame and Commemorative Award
Winners will be celebrated at an Awards show in December 2026 in Moscow, Russia. The winning work will be archived online in The Finance Innovation Awards Russia Hall of Fame.
Testimonials
"The joint success of beeline Business and Alfa-Bank demonstrates how the synergy of major market players can drive innovations capable of transforming the industry. This award highlights the partners’ contribution to the development of Russia’s digital economy and their commitment to supporting entrepreneurs at every stage of their business journey."(2024)
Sergey Subbotin
Director of Business Segment Marketing beeline
“Modern digital services set a very high bar for customer expectations: speed, quality, and convenience all matter. As pioneers of insurance innovation, we continuously seek new approaches and solutions to meet these standards—and even stay ahead of them. The STOA Rating project was created to improve the customer experience in insurance claims handling, make interactions within the client–insurance company–service station triangle more transparent and mutually beneficial, and raise service and collaboration standards to a fundamentally new level. We are deeply grateful for the high recognition of our efforts by the jury, clients, and partners, and we will continue to develop this and other initiatives aimed at advancing the insurance services market.” (2024)
Andrey TURUNOV
Managing Director, Customer Experience Department Renaissance Insurance Group
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