Frequently Asked Questions:

1. What are the Barlow Research Monarch Innovation Awards?
The Monarch Innovation Awards were developed by Barlow Research Associates, Inc. to recognize innovation in the financial services industry.

2. What are the objectives of the Barlow Research Monarch Innovation Awards?
The primary objective of the Barlow Research Monarch Innovation Awards is to recognize financial institutions and industry partners that provide the most innovative products to business customers. A secondary objective is to recognize risk takers in the financial services industry who create/promote innovation within their organizations.

3. Who can submit a nomination for consideration?
Barlow Research encourages financial institutions that offer services to business customers to enter. Vendors supplying products/services to financial institutions or directly to business customers are also eligible. The person submitting the nomination must be directly responsible for the product/service unless the PR department of the institution to which the product/service belongs is making the submission.

4. What are the nomination/award categories?
Barlow Research is accepting nominations for three categories with the following criteria:

  • Business Products - Category Criteria
    • Nominations accepted from banks
    • Price (must be standalone pricing)
    • Can be bundled with other products
    • Free products are not counted in this category
    • If product is purchased from vendor, it must be customized
    • Offered to business end users
    • Implemented within the last two calendar years
  • Business Features - Category Criteria
    • Nominations accepted from banks
    • Not available standalone
    • Part of a product or channel
    • May or may not have a price
    • If product is purchased from vendor, it must be customized
    • Offered to business end users
    • Implemented within the last two calendar years
  • Industry Partner/Business Product or Feature - Category Criteria
    • Nominations accepted from vendors serving financial services industry
    • Any product or feature available to any financial institution
    • May be bundled or standalone
    • May or may not have a price
    • Offered to business end users
    • Developed and sold within the last two calendar years

5. What is the application fee for submitting a nomination?
A non-refundable fee of $399 is required for each nomination and must be paid prior to recieving the nomination link. 

6. Are nomination forms and information kept confidential?
Yes. Information on the nomination form is used only by Barlow Research, the sponsors and the independent panel of judges. Information will not be made public to any nominees or other sources.

7. Who are the judges?
A panel of judges will be empaneled by Barlow Research and will include experts in the financial services industry.

8. What are the key dates for the Barlow Research Monarch Awards?

  • April-December 2014 – Nominations accepted
  • January-February 2015 – Judging of nominations by Jury
  • April 2015 – Announcement of Award Winners

9. What are the judging criteria?
The judging of the Barlow Research Monarch Innovation Awards will consist of the following elements:

  • Uniqueness (how different it is from other products or features in the market)
  • Stickiness (how much loyalty it builds)
  • Defendability (how difficult it would be for another institution/vendor to replicate)
  • Value (how much value it bestows to the customer)
  • Ease of Use (the ability to test or experience the product or feature)
  • Overall (most innovative overall)

10. What is the judging process?
Judging of nominations will be completed by our jury panel in January-February 2015. Prior to judging, a Barlow Research staff member will audit all nominations to verify claims from each nomination before judging begins. Nominations which do not have all required forms and materials submitted will be automatically disqualified from entry.

11. What is the awards process?
There is one award for each of three categories (Products, Features, Industry Partner) and one overall award for most innovative.

12. Whom should I call if I have questions?
Contact the Barlow Research Monarch Innovation Awards Administrator, Shoma Chandra
, at 763-253-1817 between the hours of 8 a.m. to 5 p.m. Central.