Celent Launches VendorMatch Select to Streamline Fintech Selection Process
VendorMatch Select expedites the time-consuming task of researching and analyzing technology partners
Boston, MA – September 20, 2022 – Celent, a leading research and advisory firm focused on technology for financial institutions globally, today announced a new addition to its VendorMatch platform: VendorMatch Select – a dedicated solution for insurance companies – is a comprehensive vendor intelligence tool created to help insurance buyers speed up the process of reviewing and selecting core systems from a crowded vendor landscape.
VendorMatch Select is not only a structured repository of request for information (RFI) data directly sourced from vendors; it’s also a shortlisting tool that provides insurers with the top vendors to work with based on their specific technology needs. Using lines of business/products supported, geographic footprint, and system type criteria, financial institutions can compare vendors and directly request RFI data, while managing all projects and communications fully on VendorMatch’s platform.
“The typical selection process for a financial services system takes weeks and sometimes even months, requiring a huge investment of time and resources, delaying the ability to get started on strategic initiatives. That’s too long in today’s world,” said Jamie Macgregor, CEO of Celent. “Celent’s VendorMatch Select accelerates the shortlisting stage of this process from several weeks of online research, telephone calls and briefings down into a just a few minutes, allowing financial institutions more time to focus their energy on innovation and fresh market intelligence.”
- VendorMatch Discovery: This vendor and system repository includes information about technologies and services for insurance (general, life & health, property & casualty), capital markets, wealth & asset management, banking (corporate & retail), risk management & compliance, and IT services, consulting, and outsourcing. Using high level filters, financial institutions can gain a general understanding of the vendor marketplace and create/manage projects within the platform.
- VendorMatch Select: Subscription required, available only for insurance companies. Tiered subscriptions to VendorMatch Select provide rightsized access based on users’ requirements: single user, division (for a product team and/or specific group), or enterprise (unlimited number of users). Access includes system data visualization, access to the short-listing engine, and the ability to request vendor RFIs. Subscriptions include unlimited search, discovery, and engagement with analytics across technology solutions. Users may create, share, customize, and rank results.
Learn more about VendorMatch Select.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a division of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh McLennan. [NYSE: MMC]. For more information, visit www.celent.com. Follow Celent on Twitter @Celent_Research.
Life & Health Insurance, Property & Casualty Insurance
Asia-Pacific, EMEA, LATAM, North America