Announcing Celent Model Bank 2020 Award Winners

Today we are announcing the winners of Celent Model Bank 2020 Awards. Our annual Model Bank program was launched 13 years ago and recognizes financial institutions for best practices of technology usage in different areas critical to success in banking.

The program in 2020 was again incredibly competitive. Nearly 80 institutions of all sizes from 29 countries submitted nearly 140 nominations. Such a high number of submissions of extraordinary quality across the board is a testament to the hard work going on in the industry, as financial institutions continue to transform and innovate.

We are delighted to announce Royal Bank of Canada as Celent Model Bank of the Year 2020 in recognition of RBC's efforts to deliver personalized customer engagement while affecting enterprise-wide culture change, resulting in nearly 100% employee digital fluency and increasingly customer-focused outcomes.

We are also excited to recognize the following 24 financial institutions and their initiatives with Model Bank 2020 awards:

2020 Model Bank Award Winner	Model Bank Award	Initiative
Australian Military Bank Ltd., Australia	Cooperative Bank Transformation	Becoming a Modern Digital Bank
Bank of America, USA	Operational Excellence	myCTO, Operations and Transaction Monitoring Platform
Bank of Montreal, Canada	Risk Management	Modernising the AML/KYC Platform through Big Data
BBVA USA, USA	Banking-as-a-Platform	BBVA Open Platform
Citi, USA	AI-Driven Customer Insights	Citi Opportunity Insights
Citi, USA	Trade Finance & Supply Chain	Citi Next Generational Trade
Citizens Financial Group, USA	Commercial Banking Transformation	Beyond Digital
Commonwealth Bank of Australia, Australia	Customer Engagement	Adaptive Models in Customer Engagement Engine
Discover Home Loans, USA	Mortgage Lending	Innovating Like a Fintech to Create an Industry-Leading Mortgage Business
Emirates NBD, UAE	Transaction Banking Transformation	Realizing the Digital Leap: businessONLINE
EQ Bank, Canada	Banking in the Cloud	EQ Bank to the Cloud!
First Foundation Bank, USA	Employee Enablement	Central Business Intelligence and Service Delivery Framework: “The Vault”
KBZ Bank, Myanmar	Digital Payments	Driving Financial Inclusion in Myanmar with KBZPay
Länsförsäkringar Bank, Sweden	Core Technology Replatforming	Core Banking System Replacement Project
Liv. by Emirates NBD, UAE	Digital Bank	Liv. by Emirates NBD
Midwest BankCentre, USA	Community Bank Transformation	Rising Bank, a Separately Branded Digital Bank
NatWest, UK	Innovation Frontier	Quantum-Computing-as-a-Service (QCaaS) Payit
OakNorth, UK	Lending-as-a-Platform	Next-Generation Credit and Monitoring Platform
PNC, USA	Commercial Payments	Healthcare Payer Enrolment Automation
RattanIndia Finance Pvt Ltd, India	Retail Lending	Creating an End-to-End Lending Platform Hosted in the Cloud
Santander UK PLC, UK	Commercial Lending	SME, Commercial, and Corporate Lending Digitisation and Evolution
Silvergate Bank, USA	Payments Replatforming	Payments Hub in The Cloud
The Bank Of New York Mellon, USA	Payment Operations	Real Time Resiliency & Transaction Intelligence Platform
Union Bank of the Philippines (UnionBank)	Financial Inclusion	Reaching the Underserved through Open APIs (API Marketplace) Blockchain to Bring Digital Payments to Rural Banks (Send-i2i)

Each winning initiative is described in a case study report available to download for Celent research clients by clicking on the respective links above. In addition, today we are also publishing Innovation in Banking and Payments 2020: A Snapshot through the Lens of Model Bank report, which describes the programme in more detail, and discusses not only the winners but broader industry trends we distill from the analysis of nearly 140 Model Bank nominations. This report is available to download for any registered visitors free of charge.

Congratulations to all Celent Model Bank 2020 award winners!

Author

Zilvinas Bareisis

Director, Retail Banking and Payments