THE CALCULATION BEHIND OUR RANKINGS

The methodology behind the BT-KPMG Best Banks and Fintechs Survey 2021-22

AFTER A TWO-YEAR hiatus, or rather, virtual jury meetings due to the Covid-19 pandemic, the Business Today-KPMG jury was finally back in person to decide the winners in the banking and fintech categories for 2021-22. The BTKPMG awards have been around for more than two decades, but the jury element was only added seven years ago to go beyond numbers and also recognise business and people initiatives, strategy, innovation, management quality, risk management, governance, compliance, and so on. There were also two fintech awards to recognise emerging innovators in the payments and value-added spaces. The entire process of reaching out to banks and fintechs began in September 2022, and culminated in a jury meeting in early December.

The jury was presided over by K.V. Kamath, Chairperson of the National Bank for Financing Infrastructure and Development (NaBFID). Other members were Arun Kumar Purwar, former chairman of State Bank of India (SBI); Alice G. Vaidyan, former chairman and MD of GIC Re; A.P. Hota, former MD & CEO of NPCI Ltd; and Avinash Gupta, MD & CEO of Dun & Bradstreet. In terms of conflict of interest, Hota disclosed that he is an independent director on the board of The Federal Bank.

There were eight awards that the jury had to decide on. Two bank awards—Best Enterprise Resilience in Banks and Best Intellectual Property Protection and Management—were not put up before the jury because of a lack of adequate nominations.