Banks adopt modular tech and fintech ties to streamline services
Banks are now developing new financial products, collaborating with technology companies, and integrating services into everyday routines—often before users recognize they are engaging with a bank. The 2026 Big Bank Theory Awards celebrate the most transformative advancements in financial services, illustrating how the sector is moving from outdated systems toward adaptability, efficiency, and seamless integration.
Modular Core Banking Solutions Win
The winners cover core banking upgrades, fintech alliances, and embedded finance—areas where traditional banks and startups are merging operations. Temenos earned the Best Banking Technology Provider for delivering a solution that allows banks to modernize without a complete system replacement. Its modular design enables institutions to update individual components of their core banking software gradually, rather than overhauling everything at once. Banks using Temenos report 94% more customers per employee, while full adopters achieve a 29% higher customer satisfaction score and 34% faster product launches.
The company has also integrated AI into its platform, from developer resources to fraud prevention, and serves over 950 financial institutions, including Commerce Bank in the United States. This recognition shows a broader movement: banks now prioritize flexibility over sweeping, overnight system replacements. Instead, they layer in new features, such as AI-driven processes or real-time analytics, around existing infrastructure.
Bank-Fintech Alliances Streamline Credit
Collaborations between banks and fintechs are also transforming how consumers access credit. Octane and Huntington Bank won the Best Bank-Fintech Partnership for launching a unified financing platform for outdoor power equipment dealers. The system, branded “Huntington Powered By Octane,” simplifies loans from prequalification to finalization within the dealer’s existing workflow. Since its March 2026 launch, the platform expanded from 20 pilot dealers to over 900 enrolled dealerships, processing 19,000 financing applications. By eliminating manual steps, the integration reduces friction for both dealers and customers.
Embedded finance, where financial services become part of non-banking platforms, is another key driver of change. Parafin secured the Best Overall Embedded Finance Platform for enabling businesses to offer financing through their existing tools, such as Amazon or DoorDash. The platform uses AI to evaluate real-time business performance and extends credit without traditional loan applications. Since 2020, Parafin has facilitated over $45 billion in financing for 50,000 businesses, with 85% of first-time borrowers returning for additional advances. This approach lowers barriers by making capital available where businesses already operate.
Smartphone Financing Expands Inclusion
Some innovations focus on underserved populations. PayJoy received the Serving the Underserved award for providing secured smartphone financing to gig workers, women, and micro-entrepreneurs in markets where credit is limited. The loans require no credit history, rely on alternative data for assessment, and include fixed repayment terms with no late fees. To date, PayJoy has issued over $3.5 billion in loans to 20 million people across nine countries, with 33% of borrowers new to credit and 49% women. The model connects access to a tool many already use, a smartphone, to expanding financial inclusion.
Customer experience redesigns are also part of the transformation. Citizens Bank won the Best Banking App after revamping its mobile platform to prioritize user tasks. The overhaul simplified 65 workflows, migrating 2.4 million customers to the new system at launch. Core actions, such as payments, transfers, and card management, now require two taps or fewer. The update also promoted tools for financial wellness, including spending insights and automatic savings.
Creative-Industry Banking Platforms Rise
CineFi delivers a fully digital banking experience designed for entertainment professionals. The platform combines checking and savings accounts with features like round-up savings, early direct deposit, and zero account fees. Users also gain access to a network of over 33,000 surcharge-free ATMs, supporting workers across film, television, music, gaming, content creation, and influencing. By aligning financial tools with industry-specific needs, CineFi helps creatives manage cash flow while supporting nonprofits, schools, festivals, and organizations within the creative sector.
Real-Time Payments and Banking-as-a-Service
Lumin Digital was recognized as the Best Banking as a Service Platform for its cloud-based architecture, which drives measurable growth. Independent research by S&P Global found that six U.S. institutions using Lumin generated a cumulative impact of $12.8 million and a 145% return on investment over five years. The platform delivers over 200 production enhancements annually and provides weekly updates, allowing banks to modernize continuously without disruptive upgrades. Participating institutions reported higher product adoption per customer, lower churn rates, and reduced call-center volume.
