Celent Model Bank 2017: Celebrating 10 Years of Model Bank

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13 April 2017


While Celent’s vision of Model Bank remains constant, much has changed over ten years. We look back at the history of Model Bank and its evolution, then provide an overview of Model Bank 2017: the nominations, the content themes, and, of course, the winners.

Model Bank is the main award that a financial institution (FI) can win from Celent. It is available to retail and commercial banks, credit unions, thrifts, and card issuers globally. The original vision of the Model Bank program was to try to answer a set of questions:

  • What would it look like for a bank to do everything right with today’s technology?
  • What are some best practices and measurable business results of technology projects?
  • What can other banks learn from these initiatives?

While the vision remained the same, much has changed over 10 years. This report looks back at the history of Model Bank and how it has evolved. However, the main purpose of this report is to provide an overview of Model Bank 2017: the nominations, the content themes, and, of course, the winners.

Model Bank Programme Has Changed Significantly in 10 Years

Contrary to our approach in recent years, in 2017 we introduced specific named Model Bank awards with only a single winner for each award. Consequently, this report reviews the content themes dominant across all nominations, but has no detailed case studies. Instead, each case study is published as a separate report and available by clicking on the corresponding links from this page.

After long deliberations, the judging panel decided to recognize 21 initiatives as winners of the Model Bank 2017 awards, and they are listed in Table 1.

Table 1: Celent Model Bank 2017 Awards and Winners




Consumer Digital Platform

Banco Original, Brazil

Open Banking Initiative

Consumer Banking Channel Innovation

Mizuho Financial Group, Japan

Enhancing Customer Experience via AI and Social Media

Emerging Technology for Consumers

Alior Bank S.A., Poland

Dronn Agent: The Virtual Advisor

Product Innovation

Radius Bank, USA

Becoming a Virtual Bank

Branch Transformation

Millennium BCP, Portugal

Customer Branch Experience 2.0

Employee Productivity

The Royal Bank of Scotland, UK

Facebook Workplace Implementation

Fraud Management and Cybersecurity

IndusInd Bank, India

Growing Revenue While Managing Fraud

Risk Management

Bank of America, USA

In Pursuit of Operational Risk and Compliance Excellence

Process Automation

BMO Bank of Montreal, Canada

Digital Transformation in Personal Banking

Payments Product


API Banking

Payments Replatforming

Credit Suisse AG, Switzerland

Global Payments Program

Banking as a Platform


Leveraging Modern APIs

Small Business Digital Platform

Idea Bank S.A., Poland

Idea Cloud

Corporate Banking Digital Platform


FGBOnline Connected corporate banking

Emerging Technology for Businesses

Capital One, USA

Natural Language Search –
Intellix Mobile

Lending Product

DenizBank, Turkey

Fast Loan for SMEs

Open Banking

Citi, USA

CitiConnect API

Most Promising Proof-of-Concept

Emirates NBD and ICICI Bank, India and UAE

Blockchain Pilot Network

Core Banking Transformation

National Australia Bank, Australia

Personal Banking Origination Platform

Banking in the Cloud

OakNorth Bank, UK

Core Banking in the Cloud

Financial Inclusion

India Post, India

Banking System Modernization

In addition, we again recognize one financial institution as our Model Bank of the Year. We are pleased to announce CaixaBank, Spain as Celent Model Bank of the Year 2017.

“The record number of the highest quality submissions again this year is a testament to the pace of change in the banking industry,” says Zilvinas Bareisis, a senior analyst with Celent’s Banking practice and the author of the report. “Each of the 21 Model Bank award winners and Model Bank of the Year stood out from the crowd for their innovation, and the difficulty of the task at hand, and they demonstrable business benefits.”

This 30-page report contains 15 figures and two tables.