Celent Model Bank 2014, Part 5: Case Studies of Innovation in Cash Management

by Gareth Lodge,  Bob Meara, April 4, 2014
Case Studies
Global

Abstract

The vision for Celent’s Model Bank research, now in its seventh year, was to try to answer an apparently simple question: “What would it look like for a financial institution to do everything right with today’s technology?” To answer this question, Celent sought examples of best practices in technology usage.

These examples span a five-part report series:

In Part 5, Celent profiles three innovative initiatives:

  • ICICI Bank: Project MARC Mobile Collections Initiative
  • Mashreq Bank: Mashreq Matrix Integrated Global Transaction Banking Initiative
  • Scotiabank: Integrated Payment Services Initiative

Cash management innovation used to be the domain of global banks. Celent observes innovative initiatives among “challenger” banks all over the globe. This year’s Celent Model Bank winners profiled in Part 5 are three such banks.

“A common theme across many of the entries this year reflected a shift in the industry from more products to more useful products,” says Gareth Lodge, Senior Analyst with Celent’s Banking Group and coauthor of the report. “Increasingly banks are realizing that they need to compete on more than just breadth of products offered, or the headline price, but around the customer experience those products create.”

“Changes in consumer expectations about technology aren’t limited to retail banking,” adds Bob Meara, Analyst with Celent’s Banking Group and coauthor of the report. ”They are creating substantial disruption to corporate banking too.”

After introducing the Celent Model Bank initiative, this report provides an overview of the state of innovation in cash management and trade finance. Then Celent profiles three innovative projects, and finishes with conclusions that are indicative of broader market shifts.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

Introduction

3

 

Summary of Model Bank Components

4

Innovation in Cash Management and Trade Finance

8

Case Studies in Cash Management Innovation

10

 

ICICI Bank: Project MARC

10

 

Mashreq Bank: Mashreq Matrix Initiative

14

 

Scotiabank: Integrated Payment Services Initiative

17

Conclusion

22

Leveraging Celent’s Expertise

23

 

Support for Financial Institutions

23

 

Support for Vendors

23

Related Celent Research

24

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