Tuesday, July 9, 2019
Aite Group LLC reported it will formally recognize payments industry innovators this year. Ceremonies include the August 2019 digital wallet innovation awards and December 2019 Impact Innovation Awards for Cash Management and Payments. Representatives from the global research and advisory firm said the events will honor market leaders impacting the future of commerce and banking.
Boston-based Aite derived its name from the Japanese word "Aite" (eye-tay), meaning a complementary relationship between counterparts that facilitates balance and success. The global research and advisory firm partners with stakeholders across the international financial services marketplace, to build bridges, broker insight and provide companies with actionable advice to help them leverage a range of banking, payments and vertically focused expertise, according to the company's website.
The firm stated it will celebrate its recently launched Digital Wallet Database by honoring digital wallet providers that are changing traditional commerce. A global panel of experts will judge industry leaders that bring new products, capabilities, and levels of automation and effectiveness to the digital wallet experience. Candidates under consideration were evaluated for approaches to customer experience, merchant experience, product design, value-added services and market adoption. Winners will be announced Aug. 27, 2019, at the Mobile Payments Conference 2019 at the Swissôtel Chicago.
Thad Peterson, senior analyst at Aite, said the Digital Wallet Database, a collaborative project between Aite and Mobey Forum, is a leading reference on digital wallets worldwide. "Digital wallets are leading an explosion of innovation in the payment ecosystem, and it's great to have an opportunity to recognize the leaders of this revolution," he noted.
Aite's Impact Innovation Awards for Cash Management and Payments will highlight innovators with new products, capabilities and efficiencies that move the industry closer to next-generation banking. These market leaders, regardless of size or region, are modeling the way for others to follow, Aite representatives stated. Qualified financial institutions and vendors can submit nominations online on or before Mon., July 15.
"We are excited to recognize and celebrate innovative financial institutions that are shaping the future of the financial services industry with these awards," said Christine Barry, research director at Aite. "Their vision and creativity are enabling better customer experiences by offering new levels of service and efficiency."
Noting the need to expand capabilities and products to meet customer expectations, Barry said Aite will recognize financial innovators that surpass the status quo. Candidates will be judged by their novel approaches and transformative impact on five essential categories: artificial intelligence and advanced analytics, customer experience, operational efficiency, digital channel capabilities, and product development.
Honorees from each of the five categories will be recognized during Aite Group's second annual Innovation in Cash Management and Payments Forum, to be held this December in New York City.
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