Celent Model Bank Awards
Celent Model Bank is awarded for best practices of technology usage in different areas critical to success in banking, and is the main award that a financial institution (FI) can receive from Celent. It is an annual program celebrating its 11th anniversary in 2018.
The nominations window for Model Bank Awards 2018 is now closed. Winners will be notified in late January – early February and announced publicly in the Spring 2018.
For 2018, we are again accepting nominations in five categories: Customer Experience, Products, Operations and Risk, Legacy Transformation, and Emerging Innovation.
In 2017 we introduced 21 specifically named awards, with a single winner for each award. For 2018, we expect approximately 15-21 specific named awards again; the awards may or may not be the same as in 2017. Separately, we also plan to recognise one initiative as Model Bank of the Year. For more information please visit our extensive FAQ section.
- Customer Experience
Initiatives aimed at improving customer experience, across all channels (digital and physical), for retail and corporate customers. Example initiatives include:
- Innovative functionality enhancements for consumer digital platforms (e.g. mobile apps, online).
- Online portals and mobile tools for corporate customers.
- Creative use of physical resources (e.g. branch transformation, deployment of live agents, ATM innovations).
- Delivering an integrated customer experience across channels.
- Deploying innovative technologies that enhance customer experience (e.g. biometrics, artificial intelligence, wearables, etc.).
New products for retail and corporate customers, or significant improvements to existing ones. Example initiatives include:
- Payments innovations: C2B, B2C, P2P, B2B.
- Transaction banking product innovations (e.g. liquidity management, trade finance).
- Lending and other products.
- Operations and Risk
Initiatives aimed at improving internal efficiency and risk management. Example initiatives include:
- Process automation (e.g. BPM, STP, RPA, document imaging, etc.).
- Data analytics to support decision-making (e.g. price optimisation, customer insight, asset optimisation).
- Employee productivity enhancements (e.g. collaboration tools, incentive programmes, innovative training approaches, etc.)
- Security, fraud and risk management.
- Legacy Transformation
Large scale transformation of legacy platforms. Example initiatives include:
- Core banking transformation.
- Payments back office replatforming (e.g. payment hubs, cards platform upgrade).
- Deploying new technologies and delivery models (e.g. APIs, cloud, SaaS).
- Emerging Innovation
Improving capability to innovate and experimenting with new technologies. Example initiatives include:
- Initiatives aimed at improving the bank’s capability to innovate and bring innovation culture into the organisation – e.g. collaborating with/ investing into Fintech, developer hackathons, etc.
- Interesting experiments/ proof-of-concept with emerging technologies (e.g. blockchain, robotics, artificial intelligence, machine learning, etc.) that demonstrate promise to transform the business.