6 October 2021 London

Best Back Office Innovation

Last Year’s Winer:

 

Target audience

Users of the service as well as the service providers themselves to deliver emerging and alternative payment platforms or support the delivery of the solutions

 

Detailed Definition

Best Back Office Innovation is open to any technological innovation with which an end user does not directly interact with. The term ‘back office’ covers areas including card production and bureaux services, personalisation, security, fraud and risk, reconciliation, core technology platforms including core banking for delivery of payments solutions, processors, legal and compliance, areas that may use technology such as distributed ledger technology (DLT), and Blockchain. If a customer directly interacts with the innovation, then the submission should be entered into Best New Customer Facing Innovation. Many ‘alternative payments’ may be relevant to enter this category such as those running on Blockchain/DLT. The innovation must be live and out of test phase at the time of submission. Pilot programmes will be accepted but must clearly be described as such and the judges will be looking for evidence of success in the pilot. The innovation may be running in any country.

 

Nominee & nominator

  • Name of nominating organisation
  • Innovation/Company name (entry title)
  • Name(s) of nominated organisation(s)
  • The nature of the business relationship between you as nominator and the nominee company

 

Innovation description

The judges will assess your entry against the following five criteria. On each, they will score you from 1 to 10 where 1 is strongly disagree and 10 is strongly agree. You are free to describe the programme and support your case in any way and with any supporting material as you think appropriate. Please limit your submission to no more than 1,500 words in total. The criteria are:

  1. The innovation provides benefit/value to the end user.
  2. The innovation provides benefit/value to the programme owner.
  3. The innovation delivers a solution to a specific problem or opportunity.
  4. The innovation has performed well, and the submission is supported with quantitative evidence of success from a reliable source.
  5. The innovation stands out from its competition either through performance, innovation per se, value to stakeholders or other means as described in the submission.

 

Evidence of success/metrics

Please provide as much information as you can and quote the source of that information. Such information might include the following; however, this is not an exhaustive list and in each case the judges will be looking for evidence that support your claims as to the key benefits of the innovation:

  • The length of time the innovation has been live
  • Some quantitative measure, if relevant, on how often the innovation has been used since launch until March 2021
  • Growth in use, both historical and extrapolated projections
  • Feedback from users as to their experience.