Earthport, the leading payment network for cross-border payments, has won the ‘Payment Innovation of the Year’ at the 17th annual FStech Awards, which celebrate excellence and innovation in the UK and EMEA financial services sector.
The award was won as a result of Earthport’s ground-breaking collaboration with the UK division of a leading global bank and a fintech partner, which enabled the bank to develop a distributed ledger technology (DLT)-enabled payments app through which users can make low-value cross-border payments.
This was a first for a UK bank and an important milestone in the application of this nascent technology. It also demonstrated what can be achieved when banks and fintechs work together to innovate for the benefit of customers.
The award was announced at the annual awards gala dinner and ceremony last night at the London Marriott Hotel Grosvenor Square.
Hank Uberoi, CEO of Earthport, commented: “This is a tremendous achievement for Earthport and a testament to the hard work of our team, who collaborate closely with our forward-looking partners to develop groundbreaking cross-border payment solutions for the benefit our clients and the wider market.”