Strategy Consulting Projects for the Global Financial Services Industry--Vendor Selection
Celent's strategy consulting practice offers financial institutions the expertise they need to succeed in the global financial services industry. We regularly assist senior executives to better define their strategies and maximize their market impact. Some of the areas in which Celent is active are outlined below.
Vendor Selection for Financial Institutions
Celent provides its insight, assistance, and project management skills to financial institutions seeking to select a new vendor solution. We are available to help in a variety of phases:
- Requirements gathering and generating a short-list of vendors
- Preparation and distribution of a Request for Information (RFI) and/or Request for Proposal (RFP)
- RFI/RFP process management, including analysis of responses
- Vendor selection assistance, including participation in vendor meetings and due diligence efforts
- Final discussions and recommendation
Recent projects include:
- Vendor selection project for a top-five US life insurer. Celent assisted in identifying and evaluating vendors for an outsourced business process, enabling faster decision-making by client.
- Vendor selection assistance for a top-25 global bank in the market for a replacement solution for its Web-based corporate banking/small business banking application. The bank had narrowed its search down to three vendor solutions and engaged Celent to review the information they collected, supplement it with our own insight, and provide a recommendation given their requirements.