Accepting Nominations for Model Bank 2017

Accepting Nominations for Model Bank 2017

It is my pleasure to announce that we are now accepting nominations for Model Bank 2017. The nominations window will be open until November 30.

Our regular readers should be familiar with Model Bank. We began the program in 2007 and are celebrating its 10th anniversary this year. 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 win from Celent. The award is only available to the FIs, although we are aware of and appreciate the critical role the technology vendors play in the success of those initiatives, as well as our program.

The essence of Model Bank program hasn't changed throughout the years – FIs themselves select and submit their various technology initiatives to us. We judge those initiatives on three core criteria – business benefits, degree of innovation, and technology or implementation excellence. The winners receive their awards during Innovation and Insight Day, Celent's flagship event, and the case studies of winning initiatives are featured in Celent reports.

Yet, every year we continue to make subtle changes, as we seek to improve the Model Bank program and ensure it stays relevant in the fast-changing world of banking. This year, we revised the categories in which we will be judging and awarding the initiatives.

For 2017, we are accepting nominations in five categories:

  • Customer Experience
  • Products
  • Operations and Risk
  • Legacy Transformation
  • Emerging Innovation

This year, we also created a page on our website dedicated to Model Bank. On that page, you will find more detailed descriptions of this year's award categories, and links to the nomination form as well as various PDF documents, containing the list of previous Model Bank winners, an example case study, and the PR guidelines for winners. You will also find answers to an extensive list of Frequently Asked Questions about the program, how to apply, how we judge the initiatives, what happens if you win, etc. We strongly encourage you to spend some time going through various FAQ pages. Of course, if you still have any questions that are unanswered, please contact us at modelbank@celent.com.

Last year we received well over a hundred nominations and awarded 19 initiatives. Yet, we know that the pace of innovation and change in the industry hasn't slowed down, so we hope and expect to see lots of exciting initiatives this year again. We look forward to hearing from you. Just don't forget, the deadline is November 30, 2016.

Good luck!

Zilvinas Bareisis About Zilvinas Bareisis

Zilvinas Bareisis is a senior analyst with Celent's Banking practice. His research focuses on retail payments, including cards, e-commerce, and mobile payments. He has a global perspective with a particular emphasis on market developments in North America, the UK, and Europe.

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