Bank of America is Celent’s Model Bank of the Year Celent has awarded its Model Bank of the Year to Bank of America for its efforts to. While Celent’s vision of Model Bank remains constant, much has changed over ten years. We look back at the history of Model Bank and its. NEW YORK–(BUSINESS WIRE)–Celent, a global financial services research and advisory firm, today announced that MoneyLion – the.
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We will send an email to the individuals with contact details on the submission form.
If you are considering entering your initiative, you must be proud of what you achieved. Yes, absolutely, we encourage you to submit all the initiatives midel you are proud of. Celent Model Bank Awards Overview 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.
Opportunity Pain points or business opportunity — why did you launch this initiative? However, being recognised as a Model Bank is great PR for both the financial institution celeht associated individuals. No, we will never disclose the fact that you submitted a Model Bank nomination, unless we recognise you as a Model Bank award winner.
We may use anonymized data from your submission in other research but nothing that could be directly attributed to you. What were the biggest challenges? The interview questions would broadly follow this outline. Contact us for more info. Yes, we will ask all Model Bank award winners to observe the following timelines: Every year we suggest five to eight categories and invite banks to nominate their technology initiatives.
A published case study featuring the award-winning initiative available to all Celent research subscription clients. Over the years we only had to do this on a couple of occasions, but came close a number of times.
Bank of America, USA. Did you roll it out around the world? And they certainly didn’t dampen the mood of nearly attendees representing banks, insurers and technology vendors modl at least 15 countries around the world.
Transaction banking product innovations e. We appreciate that some benefits are hard to quantify, but vague statements about expected benefits from the business case will not be sufficient. Initiatives aimed at improving internal efficiency and risk management.
Celent Model Bank Awards
Celent has awarded its Model Bank of the Year to Bank of America for its efforts to break down silos and bring all of its resources to bear in the service of customer-centricity. We intend to run the Model Bank programme again later this year, so keep an eye on the announcements when the new submissions window opens. Market and competition, or anything else relevant to understanding the case study.
Winning the Model Bank award gives the institution a number of privileges including: A subscription is required to activate this feature.
Subscribers should sign in to access this research. Incumbent banks around the world are facing fundamental challenges to their core businesses. Subscribers should sign in to access this research.
The case study is typically pages long and covers the following topics: Degree of Innovation This measure looks at how innovative the initiative is in using technology to improve sales or service results, reduce risks or costs, or improve business processes.
It is available to retail and commercial banks, credit unions, thrifts, and card issuers globally. However, typically, the winning initiatives deliver impressive business benefits to the FI, while also exhibiting one or more of the following characteristics:.
Over the years, our Model Bank program has grown moodel popular with financial institutions and has become fiercely competitive. We expect to notify the award winners by February Mizuho Financial Group, Japan. Operations and Risk Initiatives aimed at improving internal efficiency and risk management. Supplying any available visuals e. New products for retail and corporate customers, or significant improvements to existing ones.
Celent have reviewed this profile and believe it to be accurate. It is an annual program celebrating its 12th anniversary in The nomination process is now closed. What can other banks celfnt from these initiatives?
What are the future plans — e. Contrary to our approach in recent years, in we introduced specific named Model Bank gank with only a single winner for each award. We are interested in how you experiment with emerging technologies to drive your business. Forwe are again looking for nominations across five broad areas: All banks would do well to emulate BofA as it evolves toward a digital and customer-driven world.
The analyst will be identified and introduced to you via email informing that your initiative has won the award. Any FI can apply, irrespective of whether it has any prior bani with Celent. However, it is much harder to demonstrate the direct impact on customers, and as a result, we no longer recognise such initiatives with a ,odel Bank award.
The FIs do not have to specify which award they are applying for. We welcome technology vendors to encourage their FI clients to participate, but vendors themselves are not eligible for an award.
Congratulations to All Celent Model Bank Award Winners! | Celent
We reserve the right to revisit the awards during the judging process and there is no guarantee that the awards will be same in future years as in the past. The Modwl are welcome to submit multiple nominationsbut they must be substantively different. Of course, if you are an existing client, your account manager will continue celenh serve as the primary point of contact at Celent.
However, the main purpose of this report is to provide an overview of Model Bank If you are not comfortable sharing absolute figures with us, feel free to talk about relative performance for example, percentage revenue increase or cost saving.