Annual Celent Model Bank Awards: Self-Nomination Form

Deadline for Nominations: Friday, November 27, 2015

Every year, Celent’s Model Bank research tries to answer the question:

What would it look like for a bank to do everything right with today's technology?

Obviously, the question is not as simple as it appears. The terms “everything” and “right” mean different things to different banks. However, we believe it is possible to tease out best practices in the use of technology across product, services, and channel delivery that a Model Bank would use. Past winners have included banks and credit unions across the asset tier spectrum from all parts of the globe, such as: Barclays, Commercial Bank of Africa, Credit Union Australia, Mashreq Bank, mBank, Scotiabank, US Bank, and USAA.

Of course, there is no such thing as a Model Bank across the board. Therefore, we focus on specific real world examples of individual technology initiatives. These case studies are presented at our annual Innovation & Insight Day and represent key themes:

  • Legacy and ecosystem transformation: Legacy technology can hinder innovation, since banks must typically offer backward compatibility. Banks must not only modernize, but also transform their internal systems and how they interact with customers, counterparties, and regulators. This theme recognizes projects related to branch channel and core system replacement or transformation.
  • Digital and omnichannel technologies: Digital transformation is moving from person-to-person interaction toward person-to-machine or machine-to-machine. Integrating and coordinating among disparate and siloed delivery channels will be critical to satisfying ever-increasing customer expectations. Using the definition that digital automates complex tasks, allowing them to be mastered, then reproduced and distributed at low cost, this theme recognizes projects such as online customer portals; industrialization of processes; engaging user interfaces; online sales with STP; integration with business partners; leveraging social networks; and the use of mobile technology.
  • Innovation and emerging technologies: Celent defines innovation as fundamental changes to products, services, or business models that break existing tradeoffs and provide value to the customer. New hardware, software, and network technologies feed banking innovation. This theme recognizes projects such as the expansion into previously untapped markets due to technology; the use of technologies not previously used; or the development of an innovation culture within an organization.
  • Payments: Banks have long played an important role in the payments ecosystem — a role that is increasingly being challenged by non-banks. This theme recognizes payments innovation in both back end and front end systems. On the back end, this might be a payment services hub or a modern real-time payments platform, while front end solutions include e-commerce, mPOS, mobile wallets, or payments analytics.
  • Cash management and trade finance: — Reflecting the need to change and become more customer-oriented in their product offerings, and to remain relevant in a market growing increasingly competitive, this theme recognizes new technology applied to cash management and trade finance, as well as changes in processes and culture to maximize the benefits achievable.


Note that a Model Bank Award recognizes a bank’s effective use of technology within a certain area. It is not necessarily a statement that the bank is Best in Class. Success is defined by the bank’s ability to improve performance and meet market demands when tackling issues facing the industry today.

To nominate an initiative, please use the brief form below. Please note that vendors are welcome to assist their bank and credit union clients with their nominations; however, vendors/suppliers are not qualified to receive an award. All nominations MUST include bank contact information, and all follow-up will be done primarily with the bank, not the vendor.

Guidelines for Celent Model Bank Award Submissions

This information will assist you in completing the nomination form.

General Submission and Award Criteria:

  • The initiative has been implemented at a bank, credit union, thrift, or savings bank.
  • The nominated initiative is LIVE (in production) and functioning at the bank. Pilot programs are not considered live.
  • The nominated bank has been involved in the submission and is willing to be actively involved in the post-submission evaluation process, which includes follow-up emails and interviews, and possible inclusion in the Celent Model Bank report.
  • Quantitative success metrics are provided. Nominations without quantitative success metrics will not be accepted.
  • Quantifiable results from a pilot program are acceptable; however, it must be noted that the results are from a pilot. Full production results are preferred.

Quality of Nominations

The importance of the quality of the nomination itself, and of the supporting information, cannot be overemphasized. The nomination should be as specific, accurate, and complete as possible. It is imperative that the true merits of the initiative be conveyed through this information. Those involved in the selection process will likely have no personal knowledge of the nominated initiative and will lean heavily on the information provided to make reasonable judgments. In some cases, Celent will check publicly available information to augment or substantiate the information provided.

Each nomination will be independently scored for:

  1. Quantitative success measures. Because Celent seeks to recognize initiatives that have a clear and sustainable impact on the business — those that most clearly advance your bank’s business objectives — this category is weighted most heavily. Project size and scope matter.
  2. Degree of innovation. Celent analysts have exposure to technology initiatives across the globe. This measure is meant to draw attention to those initiatives deemed innovative for their use in improving sales or service results, reducing risks or costs, or improving business processes.
  3. Technology or integration excellence. Some initiatives are noteworthy for their extreme difficulty or implementation excellence. Celent recognizes initiatives that stand apart in this area.

The deadline for nominations is Friday, November 27, 2015. Once submitted, all communication will occur between Celent and the bank; however, Celent will acknowledge the receipt of the submission with both the bank and, if applicable, the vendor partner.

Please note that the above themes may cross over one another. You may only choose ONE theme. If you are unsure of which theme to choose, please read the descriptions carefully and select the one that you feel best describes the project’s intent.

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