Exchange, Remittance & Currency Services Award

Evaluation

100% automatic, from the data and evidence you submit

Minimum score to win

70 / 100

Measurement period

The last full financial year before nominations open (2025), compared with 2024 for growth measures

Who can apply

• A licensed exchange house, money transfer operator or payment provider authorised for remittances, or the remittance unit of a licensed bank
• Operating for at least two years before the measurement period
• An approved AML/CFT programme and an appointed compliance officer
• No final material regulatory or judicial sanction against the nominee during the measurement period
• When a product or initiative is nominated, every indicator is calculated for that product or initiative alone, with its data reported separately

Indicators and weights

1. Transfers delivered within one hour

   Share of outbound transfers credited to the beneficiary or ready for pay-out within one hour of the customer completing the order, out of all transfers in 2025

   20%
   Show points and evidenceHide

   Points

   • 85 – < 100 % 100
   • 60 – < 85 % 80
   • 30 – < 60 % 50
   • 0 – < 30 % 20

   Evidence

   Remittance system report with order and delivery timestamps and the calculation method

2. Total cost of sending USD 200

   Average total cost to the customer (fees plus FX margin) of sending the equivalent of USD 200 on the three largest corridors by number of transfers, as a share of the amount sent, using the World Bank Remittance Prices Worldwide method, calculated on the first business day of each quarter of 2025 (four fixed dates not chosen by the nominee)

   20%
   Show points and evidenceHide

   Points

   • 7 – < 30 % 15
   • 5 – < 7 % 45
   • 3 – < 5 % 75
   • 0 – < 3 % 100

   Evidence

   Published tariff on the four dates with the applied and reference FX rates, and the regulatory statistics that identify the three corridors

3. Digitally initiated share

   Share of transfers initiated by customers through app, web or API, out of all transfers in 2025

   15%
   Show points and evidenceHide

   Points

   • 60 – < 100 % 100
   • 30 – < 60 % 80
   • 10 – < 30 % 50
   • 0 – < 10 % 20

   Evidence

   Remittance system report broken down by channel

4. Latest AML/CFT inspection outcome

   Outcome of the latest regulatory inspection or independent review of the AML/CFT programme within the last 24 months

   15%
   Show points and evidenceHide

   Points

   • No findings or low-severity findings only100
   • Medium findings fully remediated60
   • Material findings still open0

   Evidence

   Regulator's inspection letter or the independent review report, with proof of remediation

5. Returned or failed transfer rate

   Share of transfers returned, cancelled or reversed because of an error by the provider or its partners (not the customer), out of all transfers in 2025

   10%
   Show points and evidenceHide

   Points

   • 1 – < 100 % 15
   • 0.5 – < 1 % 45
   • 0.1 – < 0.5 % 75
   • 0 – < 0.1 % 100

   Evidence

   Exceptions report from the remittance system with cause classification

6. Transfer count growth

   Percentage change in the number of transfers executed between 2024 and 2025

   10%
   Show points and evidenceHide

   Points

   • ≥ 15 % 100
   • 5 – < 15 % 70
   • 0 – < 5 % 40
   • -100 – < 0 % 10

   Evidence

   Statistics filed with the regulator for both years

7. Complaints per 10,000 transfers

   Customer complaints registered in 2025 per 10,000 transfers executed

   10%
   Show points and evidenceHide

   Points

   • ≥ 10 complaints per 10,000 transfers 15
   • 3 – < 10 complaints per 10,000 transfers 45
   • 1 – < 3 complaints per 10,000 transfers 75
   • 0 – < 1 complaints per 10,000 transfers 100

   Evidence

   Complaints unit report filed with the regulator

Each indicator gives 0 to 100 points; its share of the total is its weight. Ties are decided by the indicators listed first in the scorecard; payment or package never affects the score.

1. Done

   Nominations open

   26 October 2026 · 13:10

2. Upcoming

   Nominations close

   27 November 2026 · 01:10

3. Upcoming

   Judging starts

   27 November 2026 · 01:11

4. Upcoming

   Judging ends

   4 December 2026 · 13:00

5. Upcoming

   Results announced

   4 December 2026 · 13:10

Times are in Asia/Riyadh (UTC+03:00).