April 5 – Celent is pleased to announce the recipients of the 2017 Model Bank Awards. 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. The annual program is now in its 10th year.
In 2017, Celent introduced specifically named awards with only a single winner for each award. After long deliberations, the judging panel decided to recognize the following 21 institutions as winners of Model Bank 2017 awards below:
|Emerging Technology for Consumers||Alior Bank S.A., Poland|
|Consumer Digital Platform||Banco Original, Brazil|
|Risk Management||Bank of America, USA|
|Process Automation||BMO Bank of Montreal, Canada|
|Emerging Technology for Businesses||Capital One, USA|
|Banking as a Platform||CBW Bank, USA|
|Open Banking||Citi, USA|
|Payments Replatforming||Credit Suisse AG, Switzerland|
|Lending Product||DenizBank, Turkey|
|Most Promising Proof-of-Concept||Emirates NBD and ICICI Bank, India and UAE|
|Corporate Banking Digital Platform||FGB, UAE|
|Small Business Digital Platform||Idea Bank S.A., Poland|
|Financial Inclusion||India Post, India|
|Fraud Management and Cybersecurity||IndusInd Bank, India|
|Branch Transformation||Millennium BCP, Portugal|
|Consumer Banking Channel Innovation||Mizuho Financial Group, Japan|
|Core Banking Transformation||National Australia Bank, Australia|
|Banking in the Cloud||OakNorth Bank, UK|
|Product Innovation||Radius Bank, USA|
|Employee Productivity||The Royal Bank of Scotland, UK|
|Payments Product||YES BANK, India|
In addition, each year Celent recognizes one institution as Model Bank of the Year, our top honor. We are pleased to announce CaixaBank S.A., Spain as our 2017 Model Bank of the Year.
“Every year we feel privileged to receive so many amazing stories from financial institutions from all over the world, and a little daunted by the prospect of having to pick the most worthy award recipients. Each of the Model Bank award winners stood out from the crowd for their innovation, difficulty of the task at hand, and demonstrable business benefits,” commented Zilvinas Bareisis, Senior Analyst of Celent’s Banking Practice.
“The record number of the highest quality submissions again this year is a testament to the pace of change in the banking industry,” he added.
The award winners were announced at an awards ceremony during the Annual Celent Innovation & Insight Day in Boston, MA on April 4.
For more information about the Celent Model Bank Awards, please visit http://celent.com/model_bank
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 member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].