Trade technology firm Traydstream has taken home the award for best Financial Services & Fintech in the UK Digital Experience Awards 2017.
Celebrating the very best in organisations that offer exceptional digital experiences for their valued customers, the awards were hosted at the famous Wembley Stadium in London on 22nd November 2017, in conjunction with the UK Business Awards.
The ceremony was host to over 500 contestants, including industry leading firms like Lloyds Banking group, Three UK, GlaxoSmithKline, Virgin Money, Thomson Reuters, and many others.
Entrants were scrutinised by a judging panel featuring some of the sharpest industry minds, examining the businesses’ digital contribution to the sector, disruptive ability, and innovation of solution. Scoring accorded to strict criteria aligned with the Cranfield School of Management.
Traydstream is marked by its holistic approach to the digitalisation of trade finance, with a focus on the automation of key processes like document discrepancy-checks, due-diligence, and regulatory and compliance screening, as well as the initial stages of converting data to digital format – a process achieved by their proprietary Optical Character Recognition (OCR) technology.
Designed and built by seniors within the banking and technology communities, Traydstream is making headway in an industry increasingly aware of its need for reform. In fines alone, banks globally have paid ‘USD $321 billion in fines since 2008 for an abundance of regulatory failings from money laundering to market manipulation and terrorist financing’, according to data from Boston Consulting Group.
[1] Co-founder and Chief Operating Officer at Traydstream, Uzair Bawany, said of their recent accolade: “It’s been a challenging and fascinating journey to date; receiving this award is wonderful recognition of our efforts to reform a sector crying out for change. It is only the beginning of Traydstream’s future impact on the industry.”
On the increasingly high value placed in Digital Experience, Awards International CEO Neil Skehel said of the awards: “Digital Experience is fast becoming one of the most important fields for businesses right across the globe. Today’s customers expect a lot from firms when it comes to offering a digital pathway, and if they can’t keep up they will be left behind.
These awards are a way of showcasing the most innovative and exceptional firms, whose Digital Experience for customers is second-to-none at a time of rapid change and ruthless competition.”
[1] Bloomberg, ‘World’s Biggest Banks Fined $321 Billion Since Financial Crisis’, <https://www.bloomberg.com/news/articles/2017-03-02/world-s-biggest-banks-fined-321-billion-since-financial-crisis>.
