Celent Model Bank 2015, Part 2: Case Studies of Omnichannel Banking
The vision for Celent’s Model Bank research, now in its eighth year, is to spotlight effective uses of technology in banking. The approach that Celent takes is to seek examples of best practices in technology usage which, in aggregate, would answer these three questions.
These examples span a five-part report series:
- Part 1: Digital Banking
- Part 2: Omnichannel Banking
- Part 3: Innovation and Emerging Technology
- Part 4: Legacy & Ecosystem Transformation
- Part 5: Payments Innovation
In Part 2, Celent profiles four innovative initiatives in omnichannel banking.
- Central Bancompany: Business Analyzer
- Standard Bank of South Africa: Guided Sales Workbench
- UMB Bank: Omnichannel Outbound Advisory Based Service Model
- Westpac: Omnichannel Digital Platform
Omnichannel banking is in a state of transition, in terms of understanding, prioritization, and implementation. This should be expected, in part, because of the rapid state of change in both customer expectations and technology.
“None of these Celent Model Banks would assert that they’ve arrived,” says Bob Meara, a senior analyst with Celent’s Banking practice and author of the report. “Instead, each remains in hot pursuit of continual improvement in omnichannel delivery. They are all on a journey — one whose destination is in a continual state of change.”
Nominations were accepted in late 2014, and the Celent Banking team selected winners based on degree of innovation, degree of difficulty, and business benefits provided. Each Model Bank winning initiative is presented as a detailed case study within the report, including detailed descriptions of business drivers, technology environments, and quantitative success metrics. Lessons learned are proposed at the end of the report.
This 36-page report contains four Celent Model Bank case studies, six tables, and 20 figures.
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 subsidiary of Marsh & McLennan Companies [NYSE: MMC].
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Table of Contents
Key Research Questions
Summary of Model Bank Components
The Quest for Omnichannel Continues
Case Studies in Omnichannel Banking
Central Bancompany: Business Analyzer
Standard Bank of South Africa: Guided Sales Workbench
UMB: Omnichannel Outbound Advisory-Based Service Model
Westpac: Omnichannel Digital Platform
Leveraging Celent’s Expertise
Support for Financial Institutions
Support for Vendors
Related Celent Research