Celent Model Bank 2009: Case Studies of Effective Technology Usage in Banking

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27 May 2009


Celent's 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 coauthor 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, security and risk management, and healthcare banking.

"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,” says Rajesh M R, Celent analyst and coauthor of the report.

Although brief, 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:

  • Byron Bank: Online Financial Management Tool
  • Citi: Corporate Online Banking Platform
  • Citi: SWIFT Connectivity Solution
  • First Community Bank: Virtualized Application Delivery Model
  • First Horizon Msaver: Employer Funding Portal
  • First Interstate Bank: Credit Card Rewards / Loyalty Program
  • First National Bank, South Africa: Mobile Banking
  • First National Bank of Omaha: Document Imaging and Lockbox Solution
  • ICICI Bank: Loan Processing System
  • Indian Bank: Core Banking System Modernization
  • JPMorgan Chase: Calculator Suite for HSA Clients
  • JPMorgan Chase: Report and Funding Portal for Healthcare Clients
  • National City Corporation: Captive Utility Computing Model
  • PNC Financial Services: Money Management Tool
  • RHB Bank Berhad, Malaysia: Treasury Management System
  • Southern Community Bank and Trust: Online Banking Experience
  • Western Union: Mobile Money Transfer
  • Zions Bank: Online Account Opening

Each of the Model Banks will be presented with awards at Celent Innovation and Insight Day. The event will be held on June 3, 2009 at the Westin Times Square in New York City. To learn more about the event and to register, please visit

Celent will be gathering cases for the 2010 report throughout the year. Banks may nominate themselves for the 2010 report at