West Midlands software experts Exasoft have been given the Royal seal of approval for its work in the financial sector.
The company, run by husband and wife team Alan and Marion Malik, has won the Queen's Award for Innovation in recognition for its software products used by insurance and banking institutions.
The Coventry-based firm was set up in 1993 and has devised systems which are used by the likes of the Coventry Building Society, HSBC, Royal Bank of Scotland, Lloyds TSB, Nationwide and many other major names in finance.
It won the award for its Mortgage Fundamentals software, which is used by life assurance companies, mortgage lenders and other institutions every day. It works by making comparisons between interest only and capital repayment mortgages and also allows the reconstruction and forecasting of a mortgage.
Alan Malik, who met and chatted to The Queen in person at a Buckingham Palace reception ahead of officially receiving the award, said he was honoured to be among the cream of British business.
"It is a very prestigious award and we are very pleased to receive this accolade," he said.
Exasoft, which is based at the Innovation Village, Cheetah Road, has benefited from support and advice from Coventry and Warwickshire Chamber of Commerce.
Through the UK Trade & Investment (UKTI) Passport to Export scheme its has made inroads in the Spanish market.
Brian Mountford, from the chamber's international trade team, said: "The Queen's Award for Innovation has been a benchmark for success for the past 40 years and is the highest corporate accolade. Exasoft has fully deserved recognition for its work in the IT and finance sectors.
"The awards are chosen on the basis of firms demonstrating outstanding innovation reflected in business performance and success.
"The Chamber is continuing to work with Exasoft as it strives to increase its exports of software products to the continent."
Alan and Marion Malik are both from Coventry and schooled in the city, Alan at Finham Park and Marion at Bishop Ullathorne.
The Queen's Awards for Enterprise has three categories - innovation, international trade and sustainable development.
A total of 145 companies nationwide scooped awards this year - 48 of them in the innovation category.