Announcing Celent Model Bank 2020 Award Winners

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15 April 2020
Zilvinas Bareisis

Today we are announcing the winners of Celent Model Bank 2020 Awards. Our annual Model Bank program was launched 13 years ago and recognizes financial institutions for best practices of technology usage in different areas critical to success in banking.

The program in 2020 was again incredibly competitive. Nearly 80 institutions of all sizes from 29 countries submitted nearly 140 nominations. Such a high number of submissions of extraordinary quality across the board is a testament to the hard work going on in the industry, as financial institutions continue to transform and innovate.

We are delighted to announce Royal Bank of Canada as Celent Model Bank of the Year 2020 in recognition of RBC's efforts to deliver personalized customer engagement while affecting enterprise-wide culture change, resulting in nearly 100% employee digital fluency and increasingly customer-focused outcomes.

We are also excited to recognize the following 24 financial institutions and their initiatives with Model Bank 2020 awards:

2020 Model Bank Award Winner

Model Bank Award


Australian Military Bank Ltd., Australia

Cooperative Bank Transformation

Becoming a Modern Digital Bank

Bank of America, USA

Operational Excellence

myCTO, Operations and Transaction Monitoring Platform

Bank of Montreal, Canada

Risk Management

Modernising the AML/KYC Platform through Big Data



BBVA Open Platform

Citi, USA

AI-Driven Customer Insights

Citi Opportunity Insights

Citi, USA

Trade Finance & Supply Chain

Citi Next Generational Trade

Citizens Financial Group, USA

Commercial Banking Transformation

Beyond Digital

Commonwealth Bank of Australia, Australia

Customer Engagement

Adaptive Models in Customer Engagement Engine

Discover Home Loans, USA

Mortgage Lending

Innovating Like a Fintech to Create an Industry-Leading Mortgage Business

Emirates NBD, UAE

Transaction Banking Transformation

Realizing the Digital Leap: businessONLINE

EQ Bank, Canada

Banking in the Cloud

EQ Bank to the Cloud!

First Foundation Bank, USA

Employee Enablement

Central Business Intelligence and Service Delivery Framework: “The Vault”

KBZ Bank, Myanmar

Digital Payments

Driving Financial Inclusion in Myanmar with KBZPay

Länsförsäkringar Bank, Sweden

Core Technology Replatforming

Core Banking System Replacement Project

Liv. by Emirates NBD, UAE

Digital Bank

Liv. by Emirates NBD

Midwest BankCentre, USA

Community Bank Transformation

Rising Bank, a Separately Branded Digital Bank

NatWest, UK

Innovation Frontier

Quantum-Computing-as-a-Service (QCaaS)


OakNorth, UK


Next-Generation Credit and Monitoring Platform


Commercial Payments

Healthcare Payer Enrolment Automation

RattanIndia Finance Pvt Ltd, India

Retail Lending

Creating an End-to-End Lending Platform Hosted in the Cloud

Santander UK PLC, UK

Commercial Lending

SME, Commercial, and Corporate Lending Digitisation and Evolution

Silvergate Bank, USA

Payments Replatforming

Payments Hub in The Cloud

The Bank Of New York Mellon, USA

Payment Operations

Real Time Resiliency & Transaction Intelligence Platform

Union Bank of the Philippines (UnionBank)

Financial Inclusion

Reaching the Underserved through Open APIs (API Marketplace)

Blockchain to Bring Digital Payments to Rural Banks (Send-i2i)

Each winning initiative is described in a case study report available to download for Celent research clients by clicking on the respective links above. In addition, today we are also publishing Innovation in Banking and Payments 2020: A Snapshot through the Lens of Model Bank report, which describes the programme in more detail, and discusses not only the winners but broader industry trends we distill from the analysis of nearly 140 Model Bank nominations. This report is available to download for any registered visitors free of charge.

Congratulations to all Celent Model Bank 2020 award winners!

Insight details

Corporate Banking, Retail Banking
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Geographic Focus
Asia-Pacific, EMEA, LATAM, North America