Celent Model Bank Awards 2018 | Celent | 30 November 2017 |

Celent Model Bank is awarded for best practices of technology usage in different areas critical to success in banking, and is the main award that a financial institution (FI) can receive from Celent. It is an annual program celebrating its 11th anniversary in 2018.
It is awarded for best practices of technology usage in different areas critical to success in banking.

Celent’s Model Bank Program seeks examples of best practices in technology usage in different areas critical to success in banking. Every year we suggest five to eight categories and invite banks to nominate their technology initiatives. We review all nominations and recognise a number of them with a Model Bank Award. Each year we present 15-20 awards.

AWARD CATEGORIES

Customer Experience
Initiatives aimed at improving customer experience, across all channels (digital and physical), for retail and corporate customers. Example initiatives include:

Innovative functionality enhancements for consumer digital platforms (e.g. mobile apps, online).
• Online portals and mobile tools for corporate customers.
• Creative use of physical resources (e.g. branch transformation, deployment of live agents, ATM innovations).
• Delivering an integrated customer experience across channels.
• Deploying innovative technologies that enhance customer experience (e.g. biometrics, artificial intelligence, wearables, etc.).
Products
• New products for retail and corporate customers, or significant improvements to existing ones. Example initiatives include:

Payments innovations: C2B, B2C, P2P, B2B.
• Transaction banking product innovations (e.g. liquidity management, trade finance).
• Lending and other products.
• Operations and Risk
• Initiatives aimed at improving internal efficiency and risk management. Example initiatives include:

Process automation (e.g. BPM, STP, RPA, document imaging, etc.).
• Data analytics to support decision-making (e.g. price optimisation, customer insight, asset optimisation).
• Employee productivity enhancements (e.g. collaboration tools, incentive programmes, innovative training approaches, etc.)
• Security, fraud and risk management.
• Legacy Transformation
• Large scale transformation of legacy platforms. Example initiatives include:

Core banking transformation.
• Payments back office replatforming (e.g. payment hubs, cards platform upgrade).
• Deploying new technologies and delivery models (e.g. APIs, cloud, SaaS).
• Emerging Innovation
• Improving capability to innovate and experimenting with new technologies. Example initiatives include:

Initiatives aimed at improving the bank’s capability to innovate and bring innovation culture into the organisation – e.g. collaborating with/ investing into Fintech, developer hackathons, etc.

Interesting experiments/ proof-of-concept with emerging technologies (e.g. blockchain, robotics, artificial intelligence, machine learning, etc.) that demonstrate promise to transform the business.

Model Bank of the Year
CaixaBank, Spain

Banking as a Platform
CBW Bank, USA
Leveraging Modern APIs

Banking in the Cloud
OakNorth Bank, UK
Core Banking in the Cloud

Branch Transformation
Millennium BCP, Portugal
Customer Branch Experience 2.0

Consumer Banking Channel Innovation
Mizuho Financial Group Japan
Enhancing Customer Experience via AI and Social Medi

Consumer Digital Platform
Banco Original, Brazil
Open Banking Initiative

Core Banking Transformation
National Australia Bank, Australia
Personal Banking Origination Platform

Corporate Banking digital Platform
FGB, UAE
FGBOnline Connected Corporate Banking

Emerging Technology for Business
Capital One, USA
Natural Language Search-Intellix Mobile

Emerging Technology for Consumers
Alior Bank S.A., Poland
Dronn Agent: The Virtual Advisor

Employee Productivity
The Royal Bank of Scotland, UK
Facebook Workplace Implementation

Financial Inclusion
India Post, India
Banking System Modernization

Fraud Management and Cybersecurity
IndusInd Bank, India
Growing Revenue While Managing Fraud

Lending Product
DenizBank, Turkey
Fast Loan for SMEs

Most Promising Proof-of-Concept
Emirates NBD and ICICI Bank, India and UAE
Blockchain Pilot Network

Open Banking
Citi, USA
CitiConnect API

Payments Product
YES BANK, India
API Banking

Payments Replatforming
Credit Suisse AG, Switzerland
Global Payments Program

Process Automation
BMO Bank of Montreal, Canada
Digital Transformation in Personal Banking

Product Innovation
Radius Bank, USA
Becoming a Virtual Bank

Risk Management
Bank of America, USA
In Pursuit of Operational Risk and Compliance Excellence

Small Business Digital Platform
Idea Bank S.A., Poland
Idea Cloud