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    Announcing the Celent Model Bank 2024 Award Winners
    21st March 2024

    Now in its 18th year, the Celent Model Bank Awards Program is globally recognized, highlighting the most innovative initiatives across retail and corporate banking worldwide. Today, at our Innovation & Insight Day, we announced our 2024 Model Banks and published a full set of case studies and pre-recorded interviews with the institution leaders closest to work.

    We’re excited to award 18 institutions for their impressive accomplishments across products, payments, open banking, and emerging technologies. Perhaps the most impressive theme across these Model Banks was the focus on “foundational change.” Institutions realigned and reorganized people, processes, and technology to position themselves to better leverage many emerging technologies.

    For a complete overview of the winning institutions and this year’s program, please register for free at Celent.com and download the new report: Innovation in Banking and Payments 2024. Also available freely at the I&I Day site above is a library of short videos – one for each winning initiative. In most cases, they include the project sponsors themselves.

    Our 2024 Model Banks have harnessed emerging technologies and foundational, organizational change to drive growth and deliver exceptional customer experiences. Each winner is detailed in a complete case study published as an individual report, available to Celent research clients, and linked below (alphabetically).

    WINNER, COUNTRY

    AWARD

    CASE STUDIES

    Bank of America, USA

    Reimagining Trade and Supply Chain Finance

    Open Account Automation

    Bank of America, USA

    Customer Centered Innovation

    Unified Mobile App Experience

    Bank of Montreal, Canada/USA

    Integration Excellence

    Bank of the West Conversion and Customer Migration

    CBW Bank, USA

    Architecting for Innovation

    API-Driven Transaction Banking Platform

    Citi, USA

    Digital Asset Innovation

    Next Gen Treasury and Trade Services

    Citizens Financial Group, USA

    Commercial Customer Engagement

    Digital Butler™: Exceeding Client Expectations

    DBS Bank, Singapore

    Industrializing AI

    How DBS Is Becoming an "AI-Fueled" Bank

    First Investment Bank AD, Bulgaria

    Generative AI Application

    Breakthrough with an LLM Virtual Assistant

    HDFC Bank, India

    Payments Innovation

    Connecting Legacy and Innovation with PayZapp

    ICICI Bank, India

    Reimagining Enterprise Lending

    Transforming the Lending and Borrowing Experience with iLens

    JP Morgan, USA

    Turbocharging Embedded Banking

    Integrated Digital Solutions

    Millennium BCP, Portugal

    Small Business Customer Innovation

    Delivering on the Needs of Small Business

    OP Financial Group, Finland

    Core Transformation

    Consumer Lending Core Renewal

    PKO Bank Polski, Poland

    Empowering the Customer

    (Part I) Buy Now Pay Later Solution from a Bank

    (PART II) Value-Added Services Platform

    Raiffeisen International Bank, Austria

    Cloud Migration

    Cloud Migration Acceleration Program

    RBC Royal Bank, Canada

    Digital Customer Onboarding

    Client Acquisition Ecosystem

    Silicon Valley Bank, USA

    Reinventing Cash Management

    Digital Leading the Way Back with SVB Go

    Standard Chartered, Singapore - Indonesia -Malaysia

    Embedded Finance

    Capturing the Embedded Finance Opportunity

    Author
    Michael Bernard
    Michael Bernard
    Senior Analyst