Celent Model Bank 2015, Part 2: Case Studies of Omnichannel Banking
The vision for Celent’s Model Bank research, now in its eighth year, is to spotlight effective uses of technology in banking. The approach that Celent takes is to seek examples of best practices in technology usage which, in aggregate, would answer these three questions.
These examples span a five-part report series:
- Part 1: Digital Banking
- Part 2: Omnichannel Banking
- Part 3: Innovation and Emerging Technology
- Part 4: Legacy & Ecosystem Transformation
- Part 5: Payments Innovation
In Part 2, Celent profiles four innovative initiatives in omnichannel banking.
- Central Bancompany: Business Analyzer
- Standard Bank of South Africa: Guided Sales Workbench
- UMB Bank: Omnichannel Outbound Advisory Based Service Model
- Westpac: Omnichannel Digital Platform
Omnichannel banking is in a state of transition, in terms of understanding, prioritization, and implementation. This should be expected, in part, because of the rapid state of change in both customer expectations and technology.
“None of these Celent Model Banks would assert that they’ve arrived,” says Bob Meara, a senior analyst with Celent’s Banking practice and author of the report. “Instead, each remains in hot pursuit of continual improvement in omnichannel delivery. They are all on a journey — one whose destination is in a continual state of change.”
Nominations were accepted in late 2014, and the Celent Banking team selected winners based on degree of innovation, degree of difficulty, and business benefits provided. Each Model Bank winning initiative is presented as a detailed case study within the report, including detailed descriptions of business drivers, technology environments, and quantitative success metrics. Lessons learned are proposed at the end of the report.
This 36-page report contains four Celent Model Bank case studies, six tables, and 20 figures.