Today we are announcing the winners of Celent Model Bank 2020 Awards. Our annual Model Bank program was launched 13 years ago and recognizes financial institutions for best practices of technology usage in different areas critical to success in banking.
The program in 2020 was again incredibly competitive. Nearly 80 institutions of all sizes from 29 countries submitted nearly 140 nominations. Such a high number of submissions of extraordinary quality across the board is a testament to the hard work going on in the industry, as financial institutions continue to transform and innovate.
We are delighted to announce Royal Bank of Canada as Celent Model Bank of the Year 2020 in recognition of RBC's efforts to deliver personalized customer engagement while affecting enterprise-wide culture change, resulting in nearly 100% employee digital fluency and increasingly customer-focused outcomes.
We are also excited to recognize the following 24 financial institutions and their initiatives with Model Bank 2020 awards:
2020 Model Bank Award Winner | Model Bank Award | Initiative |
Australian Military Bank Ltd., Australia | Cooperative Bank Transformation | |
Bank of America, USA | Operational Excellence | |
Bank of Montreal, Canada | Risk Management | |
BBVA USA, USA | Banking-as-a-Platform | |
Citi, USA | AI-Driven Customer Insights | |
Citi, USA | Trade Finance & Supply Chain | |
Citizens Financial Group, USA | Commercial Banking Transformation | |
Commonwealth Bank of Australia, Australia | Customer Engagement | |
Discover Home Loans, USA | Mortgage Lending | Innovating Like a Fintech to Create an Industry-Leading Mortgage Business |
Emirates NBD, UAE | Transaction Banking Transformation | |
EQ Bank, Canada | Banking in the Cloud | |
First Foundation Bank, USA | Employee Enablement | Central Business Intelligence and Service Delivery Framework: “The Vault” |
KBZ Bank, Myanmar | Digital Payments | |
Länsförsäkringar Bank, Sweden | Core Technology Replatforming | |
Liv. by Emirates NBD, UAE | Digital Bank | |
Midwest BankCentre, USA | Community Bank Transformation | |
NatWest, UK | Innovation Frontier | |
OakNorth, UK | Lending-as-a-Platform | |
PNC, USA | Commercial Payments | |
RattanIndia Finance Pvt Ltd, India | Retail Lending | |
Santander UK PLC, UK | Commercial Lending | SME, Commercial, and Corporate Lending Digitisation and Evolution |
Silvergate Bank, USA | Payments Replatforming | |
The Bank Of New York Mellon, USA | Payment Operations | |
Union Bank of the Philippines (UnionBank) | Financial Inclusion |
Reaching the Underserved through Open APIs (API Marketplace) Blockchain to Bring Digital Payments to Rural Banks (Send-i2i) |
Each winning initiative is described in a case study report available to download for Celent research clients by clicking on the respective links above. In addition, today we are also publishing Innovation in Banking and Payments 2020: A Snapshot through the Lens of Model Bank report, which describes the programme in more detail, and discusses not only the winners but broader industry trends we distill from the analysis of nearly 140 Model Bank nominations. This report is available to download for any registered visitors free of charge.
Congratulations to all Celent Model Bank 2020 award winners!
