Ikano Bank UK wins Best Industry Innovation of the year

Ikano Bank & Certi-fi have won Best Industry Innovation' at the 2019 Card & Payment Awards for the Energy Performance Validation Scheme (EPVS). The Card & Payment Awards recognise excellence and innovation in the UK and Irish card and payments industries.

The EPVS, an initiative born out of Ikano Bank’s partnership with HIES & Certi-fi, launched in 2017. This award winning scheme provides consumers and retailers with a simple, innovative, customer-focused finance product, making investing in renewable energy an easier choice. The EPVS addresses two main retail challenges with renewable energy. Firstly, consumers face high costs for both purchasing and installation of the equipment. Secondly, consumers, retailers and financial service providers lack confidence and have no guarantee that the equipment is properly installed or that any investment in renewable technology, such as solar panels, will deliver the expected benefits. The scheme resolves these challenges, giving peace of mind & confidence to all involved.

Jake Pilkington, Co-founder of EPVS, said: “EPVS was born out of the need to stop mis-selling in the renewable sector and give consumers the confidence to purchase a product knowing that they have not been mis-sold. We’ve all heard stories of consumers being promised thousands of pounds for investing in the likes of solar and then only to find out later down the line it’s not true. We’re glad that our solution is making a real difference and it’s always nice to be recognised for it.”

Free of charge, buyers are protected with validated energy generation benefits, and the scheme also guarantees:

  • Installers are vetted & fit for purpose
  • Installations are carried out professionally
  • Purchases are guaranteed with specialist insurance
  • Free access to an alternative dispute resolution if needed

Customers can spread the cost of their renewable purchase with a point of sale loan term of up to 10 years, safe in the knowledge that their purchase will meet their expectations throughout.

Mark Williams, Head of New Business at Ikano Bank, concludes: “It’s wonderful news that EPVS has been recognised by the Card & Payments Awards. At Ikano Bank, we see the potential in the Home Renewables market and are looking for partnerships to help home owners live sustainably. Crucially, EPVS provides transparency and peace of mind for all involved - customers, retailers and ourselves as lenders. The customer satisfaction rates speak for themselves; 100% since December 2017”