2023/12/02
In 2024, technological turbulence – generative artificial intelligence (Gen AI), digital asset adoption, increased fraud and cyber risk – will r…
Research related to Cybersecurity & GRC Services
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2023/11/23When 2023 opened with the scare of an SVB-led financial contagion, financial risk topped the list of CRO concerns. With that crisis averted, ope…
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2023/10/29Recorded on October 31, 2023. The first waves of Gen AI are hitting the shore as FIs test use cases in call centers. But Risk Leaders see a tsun…
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2023/08/08Few financial institutions have yet to implement Generative Artificial Intelligence (GenAI) technology in their operations, however, both large…
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2023/07/19Recorded on July 19, 2023. Want to hear more about the current state of technology strategy and investment prioritization in the industry? Our w…
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2023/07/12Operational resilience regulation is spurring GRC transformation in financial institutions - more urgently in countries with high regulatory req…
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2023/03/29To facilitate adoption of AI and Machine Learning across the bank, CIBC built a shared AI/ML Platform in the Cloud. By taking care of governance…
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2023/03/29With rising foreign investment in Vietnam, VP Bank wanted to offer their corporate customers currency and interest rate swaps, but the banks’ co…
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2023/03/29As the communications channels used in capital markets trading proliferated and became more digital, Societe Generale identified a need to moder…
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2023/03/29Truist Financial Corporation wins the Celent Model Risk Manager Award 2023 for Responding to Emerging Risks for its Password Lock initiative. C…
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2023/03/28Bank of America's Operational Intelligence team developed Virtual On-Watch to automate incident response workflows. The tool improves operationa…
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2023/02/27Industry standards are defined by industry-wide acceptance. It is that universality that makes them so hard to establish, and so useful once the…
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2023/01/30Increasingly, risk offices at financial institutions are using advanced data management and artificial intelligence (AI), orchestration, high-pe…
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2022/10/30Recorded on October 27th, 2022 Geopolitical and economic headwinds, following straight on the heels of the pandemic, highlight the need for resi…
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2022/10/28Previsory is a portmanteau word coined by Celent to describe a forward-looking view of technology, and advice on how to respond to and leverage…
Research related to HCL's MODE 1-2-3 STRATEGY
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2024/04/22Loan origination system (LOS) technology has changed more in the last five years than it had in the previous 20. Market dynamics are shifting as…
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2024/04/16With business models changing and competitive pressures increasing, financial market infrastructures (FMIs) are re-evaluating their business str…
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2024/03/27Life insurers were forced to digitize the sales process during the pandemic. Their move to direct-to-consumer sales (D2C) saw its peak (7+% of t…
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2024/03/21The imperative for financial institutions (FIs) to continuously add new technology capabilities drives them to evaluate existing systems to mode…
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2024/03/21ING was looking to accelerate the digitisation of its offerng in the FX markets - a market which is the largest in the world by traded volume, b…
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2024/03/21In a payments market dominated by a few large players, it would be excusable to sound a defeatist note and focus elsewhere. However, HDFC Bank w…
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2024/03/21PKO Bank Polski was the first bank in Poland and one of the few in the world to independently provide its customers with a Buy Now Pay Later (BN…
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2024/03/21Everyone knows the importance of making a good first impression. Doing so at scale through digital-first customer engagement is today's clarion…
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2024/03/20Raiffeisen Bank International, a well-established European bank operating across multiple markets, has been able to rapidly shift from an on-pre…
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2024/03/20User experience was flagged in our 2022 Previsory and we continued to see momentum build through 2023 and into 2024. User (UX) and customer (CX)…
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2024/03/19Super-regional banks in the US face a unique, competitive environment. They compete not only with the largest global money center banks but also…
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2024/03/13Retail loan origination requires the interplay of many internal and external systems to originate, underwrite, and close a loan. These processes…
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2024/02/16Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
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2024/02/16Retail merchants still accept cash payments and need convenient options to deposit currency and centralize those funds. Banks are hungry for tho…
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2024/02/13Revolut has just launched a new eSIM service for its UK customers, to allow them to avoid mobile roaming charges while travelling abroad. The se…
Research related to Business Process Outsourcing
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2024/03/21
The imperative for financial institutions (FIs) to continuously add new technology capabilities drives them to evaluate existing systems to mode…
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2024/03/21
ING was looking to accelerate the digitisation of its offerng in the FX markets - a market which is the largest in the world by traded volume, b…
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2024/03/20DBS Bank, one of the largest banks in the Asia-Pacific region, has a long-standing reputation for innovation. With AI becoming a more pervasive…
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2024/03/05For many years Microsoft Excel was the staple application of finance teams. Perhaps one of the earliest “no-code” solutions, the combination of…
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2024/02/26
In Celent's enterprise data enablement survey a few years ago, both asset managers and asset owners indicated a renewed trajectory towards enhan…
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2024/02/16
Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
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2024/02/14We recently held our first insurance executive roundtable event of the year, at our offices in New York. In attendance were 35 executives from t…
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2024/02/08Just as COVID-19 provided the “aha” moment for accelerating digital transformation in the insurance industry, generative AI (Gen AI) is the “aha…
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2023/11/26Asia’s economic and banking landscape is far from homogeneous. The region has a diverse mix of small and large countries with widely varying lev…
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2023/11/19Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
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2023/10/01In trading, the person with more information usually has a head start that is often difficult to overcome. This advantage, called information as…
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2023/09/29The intersection of P&C insurance with Generative AI and Large Language Models (LLMs) signals a transformative shift in the industry. "Beyond Hu…
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2023/09/27The life insurance vertical stands at a pivotal juncture with the advent of Generative AI and Large Language Models (LLMs). "Beyond Human Intell…
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2023/09/27It would be a stretch to say that Sibos news and chatter was dominated by generative AI (or Gen AI). After all, for banks at least, we are still…
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2023/09/19Celent held a full day event for insurers focused on Generative AI (GenAI) and Large Language Models (LLMs) in the insurance industry last Wedne…
Research related to Cloud
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2024/03/20
Raiffeisen Bank International, a well-established European bank operating across multiple markets, has been able to rapidly shift from an on-pre…
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2024/02/08
Just as COVID-19 provided the “aha” moment for accelerating digital transformation in the insurance industry, generative AI (Gen AI) is the “aha…
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2022/09/30Experiencing product value before purchase drives growth—Product-Led Growth:PLG •This is a primer for those who are not so familiar with Product…
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2022/07/24Investment Culture Has Rooted in Japan, However Spread of Open APIs Is Slower than Expected In Japan, a country with a large amount of personal…
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2021/11/17
Not long ago insurers were resistant (or, at best hesitant) to move legacy data and applications to any place outside of the control of their ow…
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2021/08/17The market for IT services continues to grow as providers rebound in the wake of the pandemic. On one end, commoditization of technology infrast…
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2021/06/21This year, Celent interviewed 25 chief information officers and senior technology leaders of global market infrastructure (MI) to understand the…
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2021/05/18As the world finally turn the page to a new post-pandemic chapter, the Wealth Management industry has reason for cautious optimism. While much u…
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2021/04/04The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
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2021/04/03The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
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2021/03/10The promise of delivering Americans low-cost and attractive banking services using an efficient, state-of-the-art tech stack has been an allurin…
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2021/03/08The virtual “That Was Easy!” button just got e-pushed, machines let us do old things in new ways. During the last year, rapid advances in Data,…
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2020/12/08The world had a tough 2020 but, unlike the 2008 financial markets crisis, this time capital markets emerged as the hero as governments worldwide…
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2020/09/30Cloud was a hot topic before COVID-19, but where and how are banks leveraging the cloud now, and what will the future hold? Celent offers a view…
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2020/09/29The public cloud has made a steady and significant impact on retail banking as institutions look to innovate and keep up with new market entrant…
Research related to Digital & Analytics Services
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2022/06/10Over the past week, I attended the first in-person Insuretech Connect Asia (ITC Asia) in Singapore since the pandemic, and it was also the first…
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2021/08/17
The market for IT services continues to grow as providers rebound in the wake of the pandemic. On one end, commoditization of technology infrast…
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2021/06/29Celent surveyed numerous vendors that provide RPA platforms and/or services to see how RPA is advancing with focus on areas such as process inte…
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2021/06/13In Insurtech in Asia Series: Evolving Landscape, Changing Innovations in Singapore, we summarize the observations and segment four main areas fo…
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2021/05/27In my previous blog, I wrote about the usage of alternative data for health insurance and how this can be enabled by the partnership of the gove…
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2021/04/04
The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
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2021/04/04Data assets and data as a product are becoming the priority for insurers, which are investing in data, analytics, and AI tools for delivering a…
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2021/04/03
The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
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2020/12/08
The world had a tough 2020 but, unlike the 2008 financial markets crisis, this time capital markets emerged as the hero as governments worldwide…
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2020/12/02The usage of legacy data sources combined with new alternative data sources are transforming underwriting, policy application approval, and issu…
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2020/10/02Healthcare is more important than ever, and digital health solutions are enabling personalized health assessment and overall care. Digital healt…
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2020/04/27As we head forward into 2020, we are witnessing common acceptance for remote delivery and communication, whereby both client-relationships and i…
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2020/04/10Asia-Pacific insurers continue to invest in technologies to enable better business efficiency. What are their business plans and IT priorities f…
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2019/11/25As Asian countries seek to compete globally and assert their influence on the world stage, their regulators and political authorities are having…
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2019/11/19Revelations of money laundering cases involving several major European banks are driving heightened scrutiny on know your customer (KYC) and ant…
Research related to Internet of Things IoT
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2023/04/23As a kid growing up in Britain, many of my sports heroes were Formula One drivers. I was recently watching some old F1 video footage from the 60…
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2022/10/06Data is the foundation of the insurance industry. Traditionally, it utilises historical data to calculate the premium of the products it sells t…
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2022/09/26In 2016, I wrote a report, Will Insurers Be Connected to the Connected Car? A lot has changed since then. More cars are more connected. Those co…
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2022/03/29ESG criteria promotes doing business for good and holds organization accountable for actions that are damaging to the people and planet it aims…
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2022/03/27What’s good about insuring connected homes? Insuring connected homes has three pretty good value propositions: The insurance industry can show…
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2022/02/11The burgeoning Insurtech space is vast and rapidly evolving. It is difficult for even the savviest of industry insiders to keep up with today’s…
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2021/11/01In 2022 retail wealth management firms will continue to drive toward a singular vision for the industry: delivering holistic, personalized finan…
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2021/06/30Over the past two weeks, I moderated and presented at the 2021 InsureTech Connect Asia and Finovate Asia conferences. The hive of activities has…
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2021/05/04“Hands Free” driving is much in the news, and not in a particularly good way. A 2019 Tesla Model S recently crashed into a tree at high speed ne…
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2021/03/10Read about how an insurer used telematics data to underwrite and assess claims and premium payments, with the application of usage-based insuran…
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2021/03/08
The virtual “That Was Easy!” button just got e-pushed, machines let us do old things in new ways. During the last year, rapid advances in Data,…
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2020/12/19Today's technological innovations are increasingly powered by artificial intelligence, fuelling possibilities for novel technological developmen…
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2020/11/24An Audio with Slides version of the Report -- The Story of Data, Maps, and Digital Proximity Abstract The “Last Mile” in delivery, direction, se…
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2020/10/11I have had a great response from "Data Science is Gelato" and "Getting Past the Gelato Syndrome" the first and second parts of how to get more b…
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2020/10/02
Healthcare is more important than ever, and digital health solutions are enabling personalized health assessment and overall care. Digital healt…
Research related to RETAIL AND CORPORATE BANKING
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2024/04/22
Loan origination system (LOS) technology has changed more in the last five years than it had in the previous 20. Market dynamics are shifting as…
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2024/03/21
The imperative for financial institutions (FIs) to continuously add new technology capabilities drives them to evaluate existing systems to mode…
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2024/03/13
Retail loan origination requires the interplay of many internal and external systems to originate, underwrite, and close a loan. These processes…
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2024/02/16
Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
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2024/02/12The UK residential mortgage lending market is large and attractive to financial institutions based on the large transaction sizes and revenue pe…
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2024/01/18In June 2022, Celent published a report called Modernizing the US Card Processing Platforms: Stories of Digital Transformation. The report discu…
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2024/01/10In 2023, we discussed the idea of “payments convergence” with several of our clients at Celent. Also, embedded finance continued to be a hot top…
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2023/12/13The migration of on premise banking applications to private and public cloud deployment has been underway for over a past decade.Early migration…
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2023/11/19
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
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2023/11/08Among the many US federal policy changes, laws, and Federal Reserve actions initiated during the pandemic, loan forbearance has so far proven to…
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2023/10/05Next week’s US Mortgage Bankers Association (MBA) Annual Convention in Philadelphia (https://www.mba.org/conferences-and-education/annual-conven…
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2023/09/24Celent’s recent analysis of the US market opportunity in Credit Card-as-a-Service (CCaaS) identified a busy landscape of providers offering or r…
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2023/09/21Actually, the title of this is not strictly true... While Celent was well represented at SIBOS with several of our colleagues attending this wee…
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2023/08/31Despite challenges posed by the macroeconomic environment, North American (NA) retail bank technology spending will grow by 3.5% in 2023. The hi…
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2023/08/21The current banking crisis in 2023 has so far focused on large regional and national banks that have had liquidity issues leading to a bank run…
Research related to INSURANCE
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2024/03/21
The imperative for financial institutions (FIs) to continuously add new technology capabilities drives them to evaluate existing systems to mode…
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2024/03/21Taiwan Life Insurance’s AI Platform for Claims provides multiple convenient claims delivery channels that address the many issues Taiwanese poli…
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2024/03/20
Raiffeisen Bank International, a well-established European bank operating across multiple markets, has been able to rapidly shift from an on-pre…
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2024/03/20Welcome to a future where the claims journey is as seamless as it is empowering. Markerstudy Insurance Services Limited embarked on a transforma…
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2024/03/08This week, we at Celent released new and updated P&C claims systems vendor reports for four regions: North America EMEA Latin America Asia-Pac…
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2024/03/07Claims, often referred to as the "moment of truth," represent the fulfillment of an insurance policy's promise to indemnify and make customers w…
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2024/03/06Claims, often referred to as the "moment of truth," represent the fulfillment of an insurance policy's promise to indemnify and make customers w…
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2024/03/06Claims, often referred to as the "moment of truth," represent the fulfillment of an insurance policy's promise to indemnify and make customers w…
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2024/03/06Claims, often referred to as the "moment of truth," represent the fulfillment of an insurance policy's promise to indemnify and make customers w…
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2024/03/05Housing hunters are familiar with the axiom, "Size, location, price: Pick one." But for insurance system replacements, sights are usually set hi…
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2024/02/08
Just as COVID-19 provided the “aha” moment for accelerating digital transformation in the insurance industry, generative AI (Gen AI) is the “aha…
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2023/09/26While the start of the decade was defined by the pandemic, the banking industry landscape over 2022-2023 has been driven by the growth of intere…
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2023/06/04Insurers have been modernizing their legacy systems, increasing their presence in cloud, and finding innovative use cases driven by emerging tec…
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2022/09/30
Experiencing product value before purchase drives growth—Product-Led Growth:PLG •This is a primer for those who are not so familiar with Product…
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2022/07/24
Investment Culture Has Rooted in Japan, However Spread of Open APIs Is Slower than Expected In Japan, a country with a large amount of personal…