Project awards – for banks and financial institutions
For banks and financial institutions operating in the US, winning a PayTech Award USA proves the value of their technology investments and showcases their skills, commitment, creativity, and execution.
Please provide a comprehensive account of the project that essentially answers the questions of “what, why, how” and demonstrates tangible benefits. This includes:
- What the project is, explained in clear, layman’s terms
- The rationale of the project and its importance
- Solutions, technology, and relevant processes
- Project participants, collaboration
- Journey, stages, and milestones
- Challenges and how they were solved
- What problems the project solved on a business level and what improvements it delivered – supporting evidence, stats and facts are crucial
- The project must be recent (within the last two years) and be largely completed – the results and benefits must be tangible and measurable.
- Ensure that each of the above points is addressed thoroughly, maximizing the word limit to provide comprehensive explanations without resorting to sales pitches or marketing jargon.
- Present succinct, to-the-point facts, figures, statistics, and evidence to support your claims.
A successful nomination will be to the point and with supporting facts and stats, not buzzwords. We do not want to see press releases, advertorials, or sales & marketing brochures.
Best Payments Modernization Initiative
Awarded to a bank/financial institution that has undertaken a technology modernization across its payments business.
The project must entail significant changes (not just a routine upgrade) and encompass the modernization of the technology, processes, knowledge, organization, integration, and other relevant aspects.
The judges are looking for a detailed account of the initiative – from the reasons behind it, to the project milestones, the participants, the goals and challenges, and the results.
The project must deliver tangible benefits to the organization, bring clear improvements, and achieve the goals it set out to achieve. The judges are looking for stats and facts that support this.
Best Customer Experience Initiative in Payments
Awarded to a bank/financial institution for successful design – or a drastic redesign – of a banking product or service focused on the customer/user experience (CX/UX) that has resulted in considerable improvement in user uptake, efficiency, ease of use and customer satisfaction.
The initiative must be operational; the resultant improvements and benefits must be tangible and measurable.
The judges are looking for a comprehensive account of the initiative – what it is and why it was implemented, the work that went into bringing it to life, the technology, and the result.
As CX/UX is at the heart of this nomination, we want to understand how the CX/UX-focused tools, processes, and solutions benefitted the organization and the business.
Best Customer Protection in Payments Initiative
Awarded to a bank/financial institution for a project that has customer protection at its heart, by utilizing fraud prevention and protection solutions and fighting financial crime in payments.
The initiative must be operational; the resultant improvements and benefits must be tangible and measurable.
The judges are looking for a comprehensive account of the initiative – what it is and why it was implemented, the work that went into bringing it to life, the technology, and the result.
Fraud protection solutions and processes take center stage of this project, so we want to understand how this technology benefitted the organization and the business.
Best AI in Payments Initiative
Awarded to a bank/financial institution for a payments project that has artificial intelligence (AI) at its heart.
The initiative must be operational; the resultant improvements and benefits must be tangible and measurable.
The judges are looking for a comprehensive account of the initiative – what it is and why it was implemented, the work that went into bringing it to life, the technology, the and the result.
The AI solution takes center stage of this project, so we want to understand how this technology benefitted the organization and the business.
Best Bank & PayTech Partnership
Awarded to a successful collaboration between a bank/financial institution and a paytech that has achieved measurable success based on impact and scalability.
The partnership should demonstrate benefits to all the partners involved, as well as deliver a viable product/service to the end-user.
The initiative must be operational and the results measurable.
The judges are looking for a comprehensive account of the partnership – what it is and why it was launched, the work that went into bringing it to life, the collaboration of the partners, the technology, and the result.