The Great Filter for Digital Challengers

It seems like almost weekly I’m hearing something about a new challenger or digital-only bank brand.  The velocity of news is substantial, but despite years of hype, it seems this class of institution is still largely treading water. It reminds me of The Fermi Paradox. The paradox was originally posed as a question by the […]
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Finovate Spring: A Focus on the Practical

Finovate Spring 2017 has just finished up in San Jose; go to the Finovate blog at http://finovate.com/blog/ for an official list of the best in show winners. My focus isn’t on individual companies, but rather the broad themes that I picked up from 59 presenters over the course of two days. Themes 1. Practicality There […]
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Innovation on Display: The 2017 Ford GT and FIS Connect 2017

As sharp-eyed Celent retail banking subscribers know, I'm an avid collector of good analogies.   I like analogies because they can inject simplicity into the most complex discussions of financial technology, and make abstract concepts become more concrete and accessible to the casual fan of technology.  My favorite and I believe useful analogy for banking system engineering is that […]
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Banks aren’t Alone in their Omnichannel Unreadiness

In December, Celent surveyed a panel of North American banks and credit unions to assess the current and likely future state of retail and business banking channel systems. The report is chock full of fascinating insights. Among them is a rather sobering self-assessment of banks' omnichannel delivery capability A recent experience renting a car painfully […]
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Congratulations to All Celent Model Bank 2017 Award Winners!

Many of us at Celent just came back from a busy and exciting week in Boston. Undoubtedly, the highlight was attending Celent's Innovation and Insight Day on April 4th, where we celebrated achievements of the Model Bank and Model Insurer award winners. The rain and clouds couldn't obscure spectacular views from the State Room overlooking […]
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Emerging Innovation in Banking

Over the past few weeks we have been previewing various content themes we will be discussing at our Insight and Innovation Day in Boston on April 4th. I would like to finish this series of posts by looking at the new Model Bank category we introduced this year – Emerging Innovation. When we added this […]
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Celent Model Bank Awards 2017: The Legacy Perspective

We’re less than two weeks away from this year’s Insight & Innovation Day! Once again my presentation of the Model Bank Awards for Legacy Transformation will serve as the only barrier to the much anticipated announcement of Celent’s Model Bank of the Year Award for 2017.  This is my third year speaking at our Insight […]
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Challenges Facing Organizations in the Current Risk Environment

The Association for Financial Professionals (AFP) recently published its 2017 AFP Risk Survey Report of Survey Results. The survey, supported by Marsh & McLennan Companies (Celent’s parent company), provides a snapshot of the challenges organizations face in the current risk environment. Responses from 480 senior-level corporate practitioners (primarily based in the US) formed the basis […]
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Needless Controversy in the Branch vs. Digital Debate

In a previous post I argued for the enduring importance of human, face-to-face contact in financial services. By the reactions I received, you’d think I was purposefully inciting controversy. One influential industry observer thought I was irresponsible in advocating inaction. Another wrote a lengthy and snarky rebuttal. Others took issue with my comparing retail banking […]
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Celent Model Bank 2017 Awards: The Payments Preview

This is the next instalment of our Model Banking preview blogs, and it’ll come as no surprise that I will focus on Payments. Reading and evaluating the Model Bank entries is always fascinating. It’s also somewhat frustrating too at times – payments, covering so much territory, often ends up with the tricky task of comparing […]
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