Best Financial Crime Prevention Solution

Target audience 

Financial crime, fraud prevention and data security solution providers, technology/fintech/regtech companies, FIs, and PSPs. 

Detailed definition 

The Best Financial Crime Prevention Solution category is open to organisations that offer solutions and services focussed on financial crime prevention (FinCrime). More specifically, anti-money laundering (AML), payment fraud prevention (PayFraud), data security (InfoSec), strong customer authentication (SCA), and identity verification services (ID).  

Such solutions and services should help prevent financial crime, payment fraud, financial losses, fines and reputational damage.   

The award is given to an organisation that has helped prevent FinCrime or Fraud being conducted, made life harder for criminals, and reduced the amount of losses from attacks. The solution can focus on a single or multiple aspects of FinCrime prevention and a wide variety of attack types. It will recognise how the FinCrime prevention solution has protected both the FI/PSP business and where appropriate their end customers. Evidence of how the solution has helped businesses comply with regulations should, where appropriate, be included.  

Entries should demonstrate the improvements that have been achieved because of the solution implementation. The solution may be running in any country/countries, but must be in full production. 

Please provide the following information: 

Nominee and nominator 

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

Solution description

The judges will assess your entry against the following criteria. You are free to describe the programme and support your case with supporting material as you think appropriate. However, we strongly suggest NOT to submit generic promotional material and sales brochure. Please limit your submission to a maximum of 1,500 words. The criteria are:  

  • The solution provides tangible value to both the business and, where relevant, their end users or the public 
  • The solution delivers a solution to a specific problem or opportunity 
  • The solution delivers real improvement over previous FinCrime/Fraud products 
  • The solution has performed well, and the submission is supported with quantitative evidence of success from a reliable source 
  • The solution stands out from its competition either through performance, innovation, 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 supports your claims about the key benefits of the programme:  

  • The length of time the solution has been live 
  • Some quantitative measure, if relevant, on how often the solution has been used since launch until January 2023 
  • Growth in use, both historical and extrapolated projections 
  • How has this transformed the user experience?