Ranking the U.S. Vendors of Internet Banking Solutions: 2002 Update

Ranking the U.S. Vendors of Internet Banking Solutions 2002

In its third annual report, Celent Communications ranks the top three Internet banking solution providers for large, medium, and small financial institutions.

Although the Internet banking solution provider market is reaching a mature stage as evidenced by industry consolidation, it is far from slowing down in terms of innovations and opportunities to gain market share. The race to innovate has intensified as core banking features and services are commoditized and vendors seek out new ways to differentiate themselves.

Who are the leaders in the Internet banking software race? In a new report, Ranking the U.S. Vendors of Internet Banking Solutions 2002, Celent Communications analyzes the solutions of eleven vendors and ranks them (Table 1). The ranking is based on the weighted sum of ratings on a comprehensive set of factors. The factors are divided into two main categories: first, end-user features and second, financial institution functionalities (e.g., eCRM) and other key selection criteria (e.g., customization/flexibility, scalability, and ease of implementation)

"What痴 striking about this year痴 findings is the degree to which vendors addressed points of weakness (e.g., mediocre project management and client responsiveness) during the course of the past year. Consequently, the spreads between the cumulative rating for many vendors narrowed substantially," stated

The vendors covered in this report are: ALLTEL, Corillian, Digital Insight, Financial Fusion, Fiserv, FundsXpress Financial Network, InteliData, Metavante (which acquired Brokat), Online Resources Corp., S1, and Sanchez Computer Associates.