Project awards categories - for banks and financial institutions
For banks and financial institutions, winning a PayTech Award proves the value of their technology investments and showcases their skills, commitment, creativity, and execution.
For the project awards at banks/financial institutions, 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.
A successful nomination will be to the point and with supporting evidence, not buzzwords. We do not want to see press releases, advertorials, or sales & marketing brochures.
Our awards are underpinned by over 40 years of FinTech Futures’ unbiased expertise and unrivalled reputation.
Best PayTech Overhaul
Awarded to a bank/financial institution that has undertaken a major technology overhaul across its payment platforms. The project must be large-scale and entail significant changes not just in the system itself, but also in processes, knowledge, organisation, integration, and other relevant aspects.
This is an award for a far-reaching initiative. This is not an award for a routine upgrade, a greenfield operation, or a small tech replacement for a niche operation.
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 organisation, bring clear improvements, and achieve the goals it set out to achieve. The judges are looking for stats and facts that support this.
Best New Payments Brand
The award recognises and celebrates hard work and best practice that has gone into launching a new payments brand – it can be an independent start-up payments proposition or a greenfield offshoot of an established bank/financial institution.
This award is for an organisation that is challenging the market, bringing genuinely useful payment services and products to market, and delighting customers.
The judges are looking for a detailed account of the initiative – from the reasons behind it, to the project milestones, the team, the technology, the goals and challenges, and the results.
The project must be operational and – although we appreciated that any greenfield operation takes time to fully realise the benefits – the judges are looking for at least some concrete evidence of the venture being on the right path.
Best Use of Tech in Consumer Payments
Awarded to a bank/financial institution that has successfully applied technology in an area of consumer payments.
The project must be significant in scope and demonstrate the measurable results – bringing clear improvements and achieving the set objectives.
The judges are looking for a comprehensive account of the initiative – its rationale, the milestones, the challenges and progress, the outcomes, and the resultant benefits.
Best Use of Tech in Business Payments
Awarded to a bank/financial institution that has successfully applied technology in an area of business payments.
The project must be significant in scope and demonstrate the measurable results – bringing clear improvements and achieving the set objectives.
The judges are looking for a comprehensive account of the initiative – its rationale, the milestones, the challenges and progress, the outcomes, and the resultant benefits.
Best Consumer Cards Initiative
Awarded to a bank/financial/payment institution for a technology-driven cards initiative for retail customers, in a digital or physical environment.
The cards product/service or product must be up and running and be able to demonstrate its viability and success in practice – not in theory! – so the judges are looking for the supporting facts and stats.
The judges are looking for a comprehensive account of the initiative – what it is and why it was launched, the work that went into bringing it to life, the technology, the and the result.
Best Business Cards Initiative
Awarded to a bank/financial/payment institution for a technology-driven cards initiative for business customers – in a digital proposition or physical environment.
The cards product/service or product must be up and running and be able to demonstrate its viability and success in practice – not in theory! – so the judges are looking for the supporting facts and stats.
The judges are looking for a comprehensive account of the initiative – what it is and why it was launched, the work that went into bringing it to life, the technology, the and the result
Best Mobile Payments for Consumers Initiative
Awarded to a bank/financial institution for a technology-driven mobile payments initiative for retail customers.
The mobile payments service or product must be up and running and be able to demonstrate its viability and success in practice – not in theory! – so the judges are looking for the supporting facts and stats.
The judges are looking for a comprehensive account of the initiative – what it is and why it was launched, the work that went into bringing it to life, the technology, the and the result.
Best Mobile Payments for Business Initiative
Awarded to a bank/financial institution for a technology-driven mobile payments initiative for business users.
The mobile payments service or product must be up and running and be able to demonstrate its viability and success in practice – not in theory! – so the judges are looking for the supporting facts and stats.
The judges are looking for a comprehensive account of the initiative – what it is and why it was launched, the work that went into bringing it to life, the technology, the and the result.
Best User/Customer Experience Initiative – Consumer Payments
Awarded to a bank/financial institution for successful design – or a drastic redesign – of a consumer 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 organisation and the business.
Best User/Customer Experience Initiative – Business Payments
Awarded to a bank/financial institution for successful design – or a drastic redesign – of a business 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 organisation 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.
Best Contribution to Economic Mobility and Financial Inclusion
Awarded to bank/financial institution for championing financial inclusion and economic mobility in through a payment initiative.
Examples include products/services for the underbanked communities and areas; products and services for specific demographics that are often overlooked, such as children and pensioners; innovative salary and benefits management tools; increasing financial literacy; promoting financial health etc.
The initiative must be operational and the results 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 outcomes.
Best Use of Tech in Combatting Fraud
Awarded to a bank/financial institution for a project that has fraud protection technology for payments 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, and the result.
Fraud protection solutions and processes take centre stage of this project, so we want to understand how this technology benefitted the organisation and the business.
Best Use of AI
Awarded to a bank/financial institution for a payments project that has artificial intelligence (AI) or machine learning (ML) 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/ML solution takes centre stage of this project, so we want to understand how this technology benefitted the organisation and the business.
Best Use of Data
Awarded to a bank/financial institution for a payments-focused project that has data tools, processes, and solutions 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.
Data takes center stage of this project, so we want to understand how this technology benefitted the organisation and the business.
Top Innovation in Payments
Awarded to a bank/financial institution that has demonstrated genuine innovation in the payments area.
Using emerging technologies, putting in practice innovative ideas, reimagining processes and user journeys – this award is a for a product/solution/service that will define the future of banking and finance.
Give us something indisputably advanced, forward-thinking and that puts the bank/financial institution ahead of the curve!
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 innovation is at the heart of this nomination, we want to understand what makes the applied tools, processes, and solutions innovative and how they benefitted the organisation.