TransferMate wins top prize at Deloitte Financial Services Innovation Awards

23 Sep 2019

Image: Deloitte

TransferMate, Fenergo, Fexco and Ulster Bank were recognised among Ireland’s financial services companies for innovation and ingenuity.

Deloitte has announced that TransferMate won the top prize at the company’s inaugural Financial Services Innovation Awards.

The award show celebrated the “innovation and ingenuity” displayed by financial services companies across the island of Ireland, recognising both individuals and companies.

Speaking at the event, Minister for State at the Department of Finance, Michael D’Arcy, TD, said: “Financial services has long been a priority sector for the Irish Government.

“The development of our international financial services sector has been one of the highlights of Ireland’s economic development over the last 30 years. It is innovation that will be key in ensuring that we maintain what we have and to continue enhancing our IFS sector. The Ireland for Finance strategy recognises this with one of the four foundational pillars being technology and innovation.”

Financial Services Ireland (FSI) and the Banking and Payments Federation Ireland (BPFI) partnered with Deloitte on the awards.


TransferMate, which is an Irish-owned global company providing businesses worldwide with a smarter way to handle foreign currency payments, was crowned the overall winner at the award ceremony.

In addition, TransferMate was named as the winner within the product or service category for its Global Invoice Connect. This is an international receivables product for businesses looking for a more efficient solution for receiving payments from global customers. The product provides an alternative to international wire payments by using TransferMate’s global network, and is capable of transferring funds in more than 162 countries.

David Dalton, head of financial services at Deloitte Ireland, said: “Congratulations to TransferMate on being crowned overall winners. We launched these awards to showcase the pioneering innovations that were being developed in the industry and to showcase Ireland as a hub for innovation internationally.

“We’ve been blown away by the calibre of innovation within the industry and TransferMate certainly exemplifies that through their innovative product offerings.”

Other winners

Fexco CEO Denis McCarthy was recognised as the winner in the leadership category, celebrating the role he has played in driving Fexco’s diversification into new product areas and investment in innovation, which Deloitte said has proven key to the evolution of the company into a global fintech business.

Dalton said: “Denis’s relentless focus on continuous improvement and the determination he has shown when pursuing efforts to innovate is inspiring to all of us – he is an outstanding leader, innovator and influencer in the financial services industry.”

Fexco was also awarded in the category of social or sustainable entrepreneurship.

Other winners at the Deloitte Financial Services Innovation Awards included: the Institute of Banking in the category of operations; Xtremepush in the category of customer experience; AQMetrics and Fenergo were joint winners in the category of regtech; Ulster Bank in the category of learning; and InvoiceFair won the award for most disruptive fintech.

Kelly Earley was a journalist with Silicon Republic