Celent’s inaugural “Model Bank” report
recognizes 18 bank technology initiatives as “Model Bank Components.”
The vision for Celent’s Model Bank research was to
try to answer an apparently simple question: “What would it look like
for a bank to do everything right with today’s technology?” Of course,
the question is not nearly as simple as it appears. The terms “everything”
and “right” mean very different things to different banks depending on
their size, the complexity of their operations and product sets, and their
technological starting points.
“Our approach was to offer, at a high level, some
key best practices in the usage of technology that a ‘model bank’
would use,” says Jacob Jegher,
senior analyst with Celent’s Banking Group and author of the report.
These examples span the spectrum from infrastructure and architecture to
product development, marketing/sales, distribution/channel management,
transaction processing, loan processing, customer service/support, and
security and risk management. “Of course, there is no such thing as a
single Model Bank—every bank does some things well, and others not as
well when it comes to technology.
So we set out to gather as many real world examples
of effective usage of technology as possible. These case studies are
presented as components of a theoretical model bank’s IT systems and
practices,” Jegher adds. Although brief (averaging 200 words), nearly
all of the 18 model bank component case studies include detailed
descriptions of business drivers, technology environments, and
quantitative success metrics. Selected initiatives include:
- Bancorp South: Front-line pricing discipline for
commercial lending
- Bank of New York Mellon: Flexible Accounting
Platform
- Bremer Bank: Retail online banking platform
- Citi: Identity Management Services
- Fifth Third Bancorp: Automation of wire transfer
initiation
- Fortis Bank: Global payments processing platform
- JPMorgan Chase: Portable Security Transaction
Protocol (PSTP)
- M&I Bank: Automation of business and
commercial lending
- National City Bank: SOA development and delivery
- National City Bank: Rewards/Loyalty program
- Pacific Trust Bank: Transactional mortgage
account
- SEB Unibanka: Multichannel customer service
management
- Taishin International Bank: Core banking systems
replacement
- TD Canada Trust: Modernization and outsourcing of
ABM infrastructure and operations
- Washington Mutual: Online new account opening
- Wells Fargo: Mobile banking
- Zions Bank: Multifactor Authentication
- Zions Bank: Remote deposit capture
Celent plans to make this an annual report and event
and will be gathering cases for the 2009 report throughout the year.
Nominations for the 2009 report will be accepted throughout the year and
may be submitted by banks or their software vendor partners. For more
information, go to http://www.celent.com/modelbank.htm.
The report is 32 pages. A table
of contents is available online.
