Recognizes the best solution to make financial services more efficient by demonstrating an incremental or radical/disruptive innovation development of applications, processes, products or business models in the financial services industry, expanding business and consumer options for investing, saving, and conducting transactions, competing with banks selling financial service solutions for money transfer, lending, investments, and payments. This can include but is not limited to financing, insurance, investments, payments, advisory, security, etc.
Judges will be looking for:
- Customization or personalization - Is the level of customization/personalization appropriate to the audience and use case presented?
- Feature set - Does the feature set incorporated within this product appropriately meet the needs of the audience?
- Platform Flexibility & Accessibility - Is the solution made available through the delivery platforms appropriate for the target audience?
- Relevance to target audience - Does the product effectively solve a specific market need? Does the product transform a market sector? Does it enable a traditional financial institution to enter this market space through an outsourced solution?
- Usability - Can the user easily and efficiently interact with the product features to achieve their desired result?
- Security – does the solution have the necessary security to mitigate risk.
- Innovation – is the product using cutting edge technology, strategies, ideas or features?
- Interoperability - Where appropriate can this product be integrated with other relevant systems?