Best Direct Account to Account Solution

Last Year’s Winner

 

Target Audience

There are three distinct groups: Brands who are running programmes; Technology providers offering platforms; Regulated entities providing the backbone to solutions or may as well be offering them direct to the market or through brands.

 

Detailed Definition

 

Best Direct Account to Account Solution is designed to capture the new non scheme form of payments that have proliferated, these may or may not be based on Open Banking, but for avoidance of doubt do include them. Account is defined as a balance holding ledger provided by a Bank, EMI, PI or equivalent local regulatory status or through a mobile money platform with appropriate local regulation. The award is to recognize the new methods of payment whether PISP, Faster Payment, SEPA Direct Debit, SEPA Instant, Mobile Money etc. that enable funds to be paid from one account to another without going through an international or national payment scheme. The solution may be a platform e.g., mobile money, faster payments enabling a market or market segment, or it may be a particular use case/programme. The judges are looking for solutions that enable cost effective movement of funds with other benefits for all participants.

 

Nominee & nominator

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

 

Solution 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 solution 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 platform/solution/programme provides value to the end user.
  2. There is demonstrable benefits to all parties in the value chain.
  3. The platform/solution/programme delivers a solution to a specific problem or opportunity.
  4. The platform/solution/programme has performed well, and the submission is supported with quantitative evidence of success from a reliable source.
  5. The platform/solution/programme 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 programme:

  • The length of time it has been live
  • The number of transactions and their value from initial launch until March 2021 through the platform/solution/programme
  • The number of unique participants using the programme as of March 2021
  • Growth in use, both historical and extrapolated Projections
  • Feedback from users as to their experience.