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As sharp-eyed Celent retail banking subscribers know, I'm an avid collector of good analogies. I like analogies because they can inject simpl…
As sharp-eyed Celent retail banking subscribers know, I'm an avid collector of good analogies. I like analogies because they can inject simpl…
Rumours of this purchase have being down the rounds for months (I was discussing it in June at EBADay), although the acquirer has only been ever…
I recently had the opportunity to attend FIS Emerald in Orlando, FL from May 26-29, 2024. Lasting over three fast-paced days, this conference is…
Earlier this week, Visa hosted a Visa Payments Forum in San Francisco. During the event, the company made several announcements that – assuming…
About this Interview: We recently had the pleasure to sit down for a chat with Justin Monk, VP, Head of Products and Services, Debit, ATM, SaaS…
In a payments market dominated by a few large players, it would be excusable to sound a defeatist note and focus elsewhere. However, HDFC Bank w…
PKO Bank Polski was the first bank in Poland and one of the few in the world to independently provide its customers with a Buy Now Pay Later (BN…
Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
Retail merchants still accept cash payments and need convenient options to deposit currency and centralize those funds. Banks are hungry for tho…
In June 2022, Celent published a report called Modernizing the US Card Processing Platforms: Stories of Digital Transformation. The report discu…
In 2023, we discussed the idea of “payments convergence” with several of our clients at Celent. Also, embedded finance continued to be a hot top…
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
Celent’s recent analysis of the US market opportunity in Credit Card-as-a-Service (CCaaS) identified a busy landscape of providers offering or r…
Actually, the title of this is not strictly true... While Celent was well represented at SIBOS with several of our colleagues attending this wee…
The current banking crisis in 2023 has so far focused on large regional and national banks that have had liquidity issues leading to a bank run…
The promise of Credit Card-as-a-Service (CCaaS) to democratize credit card issuing has attracted investment and resulted in a busy landscape of…
I always look forward to meeting with payments colleagues at the Nacha Smarter Faster Payments conference. It was my first time in Las Vegas in…
MB has enhanced its market risk and counterparty credit risk (CCR) management to meet global standards, including: A near real-time VaR calcul…
Tokenization is this year’s hot topic in blockchain, and our conversations with clients often move quickly to predicting where the breakout use…
FX is at the greatest inflection point since Nixon decoupled the dollar from gold in 1971. Foreign exchange (FX), and its technology demands, ar…
The clock is ticking for financial institutions (FIs) to adequately prepare for the seismic shift from the London Interbank Offered Rate (LIBOR)…
The (L)IBOR rate which we have all known and loved-then vilified and hated is going away. Regulators and market watchers saw the rate has easily…
The G-20 mandates are the gift that keeps on giving. Initial Margin (IM) is the latest installment in regulations aimed at reducing risk in OTC…
Initial margin (IM) requirements are a global regulatory regime intended to limit systemic contagion by offsetting losses if an OTC derivatives…
Digital technology enablement could augment alpha generation for active managers and stem the erosion against the tidal wave of passive investin…
Inappropriate conduct has cost the financial services industry a significant amount in direct losses, lawsuits, and fines since the last financi…
Celent shares prospective developments from innovative solutions and business models around shared services, utilities, and joint ventures as a…
In May 2024, barring any further delays, the United States and Canada will be shortening their trade settlement cycles from a two-day settlement…
Treasury and capital markets divisions at banks continue to struggle with the trilemma of complying with regulatory changes and meeting evolving…
The race is on to get lean and agile. Unfortunately, capital markets firms continue to struggle with common operational and technology challenge…
Corporate actions processing has lagged other areas in technology innovation. However, developments in new technology and low-cost operating mod…
Join us for this presentation by Arin Ray addressing corporate actions automation and how to leverage innovative technology to improving efficie…
A failure to elect on a corporate action due to an operational error can hurt the beneficiary financially. This exposes the firm to scrutiny abo…
With a more relaxed US regulatory climate, tax reform and growing cash reserves more public companies are building strategic growth through merg…
With growing volumes and complexities of corporate actions, intensifying regulatory scrutiny on transparency in corporate governance, and dimini…
The pursuit for improving automation levels goes back a long time in the capital markets. Success has been achieved in some areas, but a lot rem…
Intelligent automation-enabled tools promise to offer significant operational and efficiency improvements in the middle and back office in capit…
I've just returned from EBAday, the annual summit for leading payments and transaction banking executives, held in beautiful Lisbon, Portugal, t…
Many statistics were presented at the JP Morgan Chase Investor Day 2024. Among them was a statement that the bank would invest (spend) some $17b…
Corporate Banking IT spending continues to grow – even accelerate in most regions – from 2023 through to 2025. Some of these increases will be e…
Global trade has been a driving force behind human civilization, fostering connections between cultures and regions through commerce. Banks play…
Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
During a challenging year for the broader US banking industry in 2023, the largest US banks demonstrated their resilience by experiencing signif…
In recent weeks I’ve had several conversations with some of the largest financial services technology companies and banks about adoption of publ…
Each year, Oliver Wyman (our parent company) partners with Morgan Stanley Research to publish an industry outlook for Wholesale Banking. This ye…
Asia’s economic and banking landscape is far from homogeneous. The region has a diverse mix of small and large countries with widely varying lev…
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
The economic shocks of 2022 and early 2023 appear to have calmed, but geo-political and financial conditions remain far from easy for banks and…
Trade Finance was once again a hot topic at this year's Sibos conference in Toronto, organized by Swift. The trade ecosystem has been working to…
2023 will be a challenging year for many in the industry. Post-pandemic expectations of a return to focusing on growth and innovation have been…
As part of its Customer 360 promise, ICICI Bank is committed to deepening customer relationships, continuous tech innovation, and seamless deliv…
With the worst effects of the pandemic now having receded, the corporate banking industry is back to focusing on revenue and profitability. As s…
While artificial intelligence has been selectively implemented to help banks fight financial crime, recent breakthroughs in AI technology promis…
Financial crime compliance operations are plagued with perhaps the most severe efficiency and accuracy issues in financial services. Fortunately…
Legacy technology can be a significant barrier to efficient operations in anti-money laundering and financial crime compliance. Banco do Brasil…
Watchlist screening has become the most-scrutinized area of AML compliance, and vendor solutions are evolving rapidly, driven by AI, machine lea…
Nasdaq and its subsidiary Verafin, just published their first Global Financial Crime Report. The report is making headlines for the size of its…
In 2024, technological turbulence – generative artificial intelligence (Gen AI), digital asset adoption, increased fraud and cyber risk – will r…
When 2023 opened with the scare of an SVB-led financial contagion, financial risk topped the list of CRO concerns. With that crisis averted, ope…
Financial crime compliance departments at banks and non-bank financial institutions (NBFIs) are challenged to keep up with the high volumes of a…
After nearly a year at the helm of Celent's Risk practice, I had the privilege of attending my inaugural Sibos conference. My colleagues Patrici…
The financial industry is facing increasing regulatory demands for assurance around watchlist management and sanctions screening. At first glanc…
What if you could identify and discard risky applicants before you took them through an expensive identity proofing exercise? What if you had a…
Recorded on July 19, 2023. Want to hear more about the current state of technology strategy and investment prioritization in the industry? Our w…
Increasingly, risk offices at financial institutions are using advanced data management and artificial intelligence (AI), orchestration, high-pe…
In recent years, financial institutions have sought to lower AML compliance costs—and increase the effectiveness of their compliance programs—by…
Recorded on October 27th, 2022 Geopolitical and economic headwinds, following straight on the heels of the pandemic, highlight the need for resi…
Traditionally, the reconciliations process and technology have been seen as a "back-office" problem and have not received sufficient investment.…
Reconciliation is a critical part of capital markets operations because the inability to get it right can result in business losses, suboptimal…
Intelligent automation-enabled tools promise to offer significant operational and efficiency improvements in the middle and back office in capit…
Just got back from the FTF Sec Ops Conference in Boston. Front-to-back asset management workflow was the main focus of the conference with some…
A recent survey conducted by Oliver Wyman indicates that retail investors have grown more comfortable with using generative AI (GenAI) for finan…
The wealth management industry is on the cusp of transformation – a new paradigm is emerging - driven by advancements in technology. Over the ne…
This report represents the second in the 2-part series “The New Wealth Management Paradigm – From Apps to Agents.” The wealth management industr…
Morgan Stanley Wealth Management is bringing access to portfolio risk insights directly to its financial advisors, embedding risk management cap…
Morgan Stanley is the first major global wealth management firm to incorporate fractional share allocation as an integral component of its UMA a…
Wealth management firms point to advisor workflow automation as one of the biggest opportunities for boosting productivity and freeing up adviso…
User experience was flagged in our 2022 Previsory and we continued to see momentum build through 2023 and into 2024. User (UX) and customer (CX)…
Can AI do more than just drive internal efficiencies in wealth management? According to one Canadian startup, AI can be the engine powering fina…
Is the RIA industry being disrupted? After a monumental year from one late-stage WealthTech startup, the answer appears to be yes. WealthTech St…
To help our clients navigate challenges facing the industry, Celent has developed a new, enhanced approach for tracking financial institution IT…
The announcement yesterday (October 19) that DTCC is acquiring the blockchain fintech Securrency is a resounding signal to the global financial…
Client onboarding continues to be a significant pain point for advisors. And new account opening (NAO) is arguably one of the most inefficient a…
This report combines Celent's Banking and Wealth Management research and explains a landscape of technologies that can support better service to…
This report is a companion piece to the Global IT report and focuses solely on North American Wealth Management IT Spending which includes Canad…
With the introduction of ChatGPT, large language models (LLMs) have become a significant part of the AI landscape due to their ability to revolu…
I've just returned from EBAday, the annual summit for leading payments and transaction banking executives, held in beautiful Lisbon, Portugal, t…
The countdown for the FedWire migration has not only started but is well underway. While some banks are prepared, evidence suggests that many ba…
I'm pleased to announce this paper that looks at the need for payment modernization, which sets out not just the why, but also the how too. The…
If payment modernization consisted of one or more quick, cheap, easy, or risk-free changes, banks would have already done it. It’s not that they…
In 2023, we discussed the idea of “payments convergence” with several of our clients at Celent. Also, embedded finance continued to be a hot top…
The migration of on premise banking applications to private and public cloud deployment has been underway for over a past decade.Early migration…
Banking and banking technology are undergoing massive change. New business models and market strategies driven by neobanks and fintechs have pus…
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
The economic shocks of 2022 and early 2023 appear to have calmed, but geo-political and financial conditions remain far from easy for banks and…
Actually, the title of this is not strictly true... While Celent was well represented at SIBOS with several of our colleagues attending this wee…
Celent have been talking about instant payments in the US for many, many years. Indeed, I was the very first person to speak at Nacha Payments o…
BaaS, PaaS, CBDCs, and PSD3 were the buzzwords that dominated many of the sessions and my conversations with colleagues at EBAday 2023 in Madrid…
It’s that time again, where Patty & I attend the Nacha Payments conference. This year it was in Las Vegas, after a long break from the city. Ind…
I always look forward to meeting with payments colleagues at the Nacha Smarter Faster Payments conference. It was my first time in Las Vegas in…
Payments are one of the few things that unite every person and every company, wherever they are in the world. Yet most don’t think about payment…
Traditional banks and credit unions are increasingly launching new, digital-only brands. Standing up a modern digital-first version of the bank…
I recently had the opportunity to attend FIS Emerald in Orlando, FL from May 26-29, 2024. Lasting over three fast-paced days, this conference is…
Many statistics were presented at the JP Morgan Chase Investor Day 2024. Among them was a statement that the bank would invest (spend) some $17b…
OP Financial Group transformed its unsecured lending servicing, successfully adopting a next-generation cloud-native core platform while re-thin…
Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
Revolut has just launched a new eSIM service for its UK customers, to allow them to avoid mobile roaming charges while travelling abroad. The se…
The migration of on premise banking applications to private and public cloud deployment has been underway for over a past decade.Early migration…
Banking and banking technology are undergoing massive change. New business models and market strategies driven by neobanks and fintechs have pus…
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
We chatted with Sonny Singh, the Executive Vice-President and General Manager of Oracle Financial Services, about Oracle's cloud-based core bank…
Despite challenges posed by the macroeconomic environment, North American (NA) retail bank technology spending will grow by 3.5% in 2023. The hi…
The current banking crisis in 2023 has so far focused on large regional and national banks that have had liquidity issues leading to a bank run…
Agility is one of the standout technology priorities for retail banks this year. While the operating environment remains challenging, many banks…
Retail banks face an array of pressures around pricing. Competition means banks must create innovative value propositions through bundled capabi…
Celent recently hosted an in-person event, Navigating Turbulence, in New York City. I had the great opportunity to lead the cloud computing sess…
While artificial intelligence has been selectively implemented to help banks fight financial crime, recent breakthroughs in AI technology promis…
Financial crime compliance operations are plagued with perhaps the most severe efficiency and accuracy issues in financial services. Fortunately…
Nasdaq and its subsidiary Verafin, just published their first Global Financial Crime Report. The report is making headlines for the size of its…
In 2024, technological turbulence – generative artificial intelligence (Gen AI), digital asset adoption, increased fraud and cyber risk – will r…
After nearly a year at the helm of Celent's Risk practice, I had the privilege of attending my inaugural Sibos conference. My colleagues Patrici…
What if you could identify and discard risky applicants before you took them through an expensive identity proofing exercise? What if you had a…
Recorded on July 19, 2023. Want to hear more about the current state of technology strategy and investment prioritization in the industry? Our w…
The ongoing transition to AI-enabled, high performance financial crime compliance systems is a leading indicator of the application of digital t…
HSBC is making the innovative move, for a global bank, of partnering with Google Cloud to adopt a cloud-based machine-learning powered solution…
Digital technologies are driving significant change in anti-money laundering (AML) operations. Still, financial crime compliance remains heavily…
As financial institutions and regulated industries face ever more complex money laundering and criminal schemes, a sole reliance on rules is no…
Increasingly, risk offices at financial institutions are using advanced data management and artificial intelligence (AI), orchestration, high-pe…
Fraud continues to challenge the payments industry. In a recent survey of our banking contacts, we asked the participants about their payments p…
In recent years, financial institutions have sought to lower AML compliance costs—and increase the effectiveness of their compliance programs—by…
Recorded on October 27th, 2022 Geopolitical and economic headwinds, following straight on the heels of the pandemic, highlight the need for resi…
Traditional banks and credit unions are increasingly launching new, digital-only brands. Standing up a modern digital-first version of the bank…
I recently had the opportunity to attend FIS Emerald in Orlando, FL from May 26-29, 2024. Lasting over three fast-paced days, this conference is…
Many statistics were presented at the JP Morgan Chase Investor Day 2024. Among them was a statement that the bank would invest (spend) some $17b…
OP Financial Group transformed its unsecured lending servicing, successfully adopting a next-generation cloud-native core platform while re-thin…
Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
Revolut has just launched a new eSIM service for its UK customers, to allow them to avoid mobile roaming charges while travelling abroad. The se…
The migration of on premise banking applications to private and public cloud deployment has been underway for over a past decade.Early migration…
Banking and banking technology are undergoing massive change. New business models and market strategies driven by neobanks and fintechs have pus…
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
We chatted with Sonny Singh, the Executive Vice-President and General Manager of Oracle Financial Services, about Oracle's cloud-based core bank…
Despite challenges posed by the macroeconomic environment, North American (NA) retail bank technology spending will grow by 3.5% in 2023. The hi…
The current banking crisis in 2023 has so far focused on large regional and national banks that have had liquidity issues leading to a bank run…
Agility is one of the standout technology priorities for retail banks this year. While the operating environment remains challenging, many banks…
Retail banks face an array of pressures around pricing. Competition means banks must create innovative value propositions through bundled capabi…
Celent recently hosted an in-person event, Navigating Turbulence, in New York City. I had the great opportunity to lead the cloud computing sess…
ING was looking to accelerate the digitisation of its offerng in the FX markets - a market which is the largest in the world by traded volume, b…
Fractional share trading for equities and ETFs is not new. Widespread adoption of fractionals in mostly brokerage accounts were spurred on by th…
The last four years in the financial markets have seen immense volatility, patchy liquidity, and fundamental shifts towards a new macro regime.…
In trading, the person with more information usually has a head start that is often difficult to overcome. This advantage, called information as…
Rates markets had already undergone substantial structural changes in the decade before the pandemic, especially around the proliferation of ele…
On 12th June 2023 (just yesterday), Nasdaq announced their intentions to acquire Adenza (which itself was created from the coming together of Ca…
The mechanisms for trading fixed income products continue to evolve amid a backdrop of market infrastructure challenges, regulatory responses, i…
The financial industry is at an inflection point, shaped by a confluence of macroeconomic forces, regulatory dynamics, and sociopolitical reperc…
The demand for applications is growing faster than the supply of developers to deliver them. A new era of low/no-code development is emerging, w…
Last month I was honored to participate in the TradeTech FX annual conference in Miami, FL, and to assist by hosting a keynote interview and mod…
I’m extremely excited to announce my participation as a speaker at this year’s TradeTech FX Conference. The conference dates are February 16–18,…
Fixed income infrastructure has a history of waves of increased automation. In turn, the tides of technology have reconfigured the operating lan…
FX is at the greatest inflection point since Nixon decoupled the dollar from gold in 1971. Foreign exchange (FX), and its technology demands, ar…
This year, Celent interviewed 25 chief information officers and senior technology leaders of global market infrastructure (MI) to understand the…
Technology-driven change is accelerating in the buy side front office according to senior buy side executives who participated in an exclusive C…
Third Party Administration (TPA) and Business Process Outsourcing (BPO) offers insurers a way to reduce costs, address operational issues, and c…
Business Process Outsourcing (BPO) and Third Party Administration (TPA) services offer insurers a way to reduce costs, address operational issue…
Since 2011, Celent has been analyzing and evaluating BPO vendors. The 16 global vendors iprofiled in this report business process outsourcing (B…
Since 2011, Celent has been analyzing and evaluating BPO vendors. The 19 global vendors profiled in this report offer business process outsourci…
Are emerging technologies providing cost-effective options to manage closed block policies? In the L&A insurance segment, millions of policies t…
"Conversions are very risky, painful and are never on-time!"— is this old saying still true for insurance system conversions? Apparently, there…
The market for IT services continues to grow as providers rebound in the wake of the pandemic. On one end, commoditization of technology infrast…
The COVID-19 pandemic has been especially hard on P&C insurers. Along with a large number of natural disasters and severe weather events which c…
COVID-19 presented the global life insurance industry with challenges that have turned into opportunities. New societal realities and customer n…
The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
Insurance BPO (Business Process Outsourcing) sector has seen significant growth in the past owing to increasing customer demands and operational…
Insurance BPO (Business Process Outsourcing) sector has seen significant growth in the past owing to increasing customer demands and operational…
This Model Bank report uncovers how Discover Financial Services quickly adjusted to the challenges the pandemic created by enabling its agents t…
The pressure on the buy side is intense . On the journey to managing operational and regulatory demands in a cost-effective way, investment mana…
Regulatory requirements related to data management have evolved from broad guidelines to specific requirements across a multitude of data qualit…
For insurance and institutional clients, efficient portfolio optimization and operational agility from the standpoint of dynamic adaptation and…
MB has enhanced its market risk and counterparty credit risk (CCR) management to meet global standards, including: A near real-time VaR calcul…
OakNorth is integrating climate transition risk into portfolio risk management. ON Climate provides lenders the ability to assess climate transi…
Fractional share trading for equities and ETFs is not new. Widespread adoption of fractionals in mostly brokerage accounts were spurred on by th…
Nasdaq and its subsidiary Verafin, just published their first Global Financial Crime Report. The report is making headlines for the size of its…
In May 2024, barring any further delays, the United States and Canada will be shortening their trade settlement cycles from a two-day settlement…
Is the RIA industry being disrupted? After a monumental year from one late-stage WealthTech startup, the answer appears to be yes. WealthTech St…
Private market asset managers were not immune from the post-pandemic, macroeconomic headwinds and recent market volatility – with operating marg…
In 2024, technological turbulence – generative artificial intelligence (Gen AI), digital asset adoption, increased fraud and cyber risk – will r…
When 2023 opened with the scare of an SVB-led financial contagion, financial risk topped the list of CRO concerns. With that crisis averted, ope…
Recorded on October 31, 2023. The first waves of Gen AI are hitting the shore as FIs test use cases in call centers. But Risk Leaders see a tsun…
After nearly a year at the helm of Celent's Risk practice, I had the privilege of attending my inaugural Sibos conference. My colleagues Patrici…
Client onboarding continues to be a significant pain point for advisors. And new account opening (NAO) is arguably one of the most inefficient a…
This report is a companion piece to the Global IT report and focuses solely on North American Wealth Management IT Spending which includes Canad…
Third Party Administration (TPA) and Business Process Outsourcing (BPO) offers insurers a way to reduce costs, address operational issues, and c…
Business Process Outsourcing (BPO) and Third Party Administration (TPA) services offer insurers a way to reduce costs, address operational issue…
Since 2011, Celent has been analyzing and evaluating BPO vendors. The 16 global vendors iprofiled in this report business process outsourcing (B…
Since 2011, Celent has been analyzing and evaluating BPO vendors. The 19 global vendors profiled in this report offer business process outsourci…
Are emerging technologies providing cost-effective options to manage closed block policies? In the L&A insurance segment, millions of policies t…
"Conversions are very risky, painful and are never on-time!"— is this old saying still true for insurance system conversions? Apparently, there…
The market for IT services continues to grow as providers rebound in the wake of the pandemic. On one end, commoditization of technology infrast…
The COVID-19 pandemic has been especially hard on P&C insurers. Along with a large number of natural disasters and severe weather events which c…
COVID-19 presented the global life insurance industry with challenges that have turned into opportunities. New societal realities and customer n…
The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
Insurance BPO (Business Process Outsourcing) sector has seen significant growth in the past owing to increasing customer demands and operational…
Insurance BPO (Business Process Outsourcing) sector has seen significant growth in the past owing to increasing customer demands and operational…
This Model Bank report uncovers how Discover Financial Services quickly adjusted to the challenges the pandemic created by enabling its agents t…
The pressure on the buy side is intense . On the journey to managing operational and regulatory demands in a cost-effective way, investment mana…
While artificial intelligence has been selectively implemented to help banks fight financial crime, recent breakthroughs in AI technology promis…
With the acceleration of digital access in financial services, fraud technology has developed into a complex ecosystem of solutions aimed at sec…
Nasdaq and its subsidiary Verafin, just published their first Global Financial Crime Report. The report is making headlines for the size of its…
In 2024, technological turbulence – generative artificial intelligence (Gen AI), digital asset adoption, increased fraud and cyber risk – will r…
After nearly a year at the helm of Celent's Risk practice, I had the privilege of attending my inaugural Sibos conference. My colleagues Patrici…
Recorded on July 19, 2023. Want to hear more about the current state of technology strategy and investment prioritization in the industry? Our w…
Enfuce provides cloud-based card issuing and processing services to fintechs as well as more established firms. Enfuce found that their customer…
Increasingly, risk offices at financial institutions are using advanced data management and artificial intelligence (AI), orchestration, high-pe…
Over three weeks in September 2022, Celent Banking team ran an online survey where we invited our contacts in the industry – clients and non-cli…
Recorded on October 27th, 2022 Geopolitical and economic headwinds, following straight on the heels of the pandemic, highlight the need for resi…
Previsory is a portmanteau word coined by Celent to describe a forward-looking view of technology, and advice on how to respond to and leverage…
Geopolitical and economic headwinds, following straight on the heels of the pandemic, highlight the need for resilience and agility in Risk func…
Synthetic ID fraud has emerged as a major form of fraud in recent years, with charge-offs resulting from SID fraud estimated in the billions of…
The last 24 months have seen tectonic shifts in cloud adoption and openness to the cloud in financial services. The forces of digitalization, in…
Congratulations to Celent's Model Risk Manager 2022 Award winners: ABN AMRO, BNP Paribas S.A., DBS Bank, Fincare Small Finance Bank, Forcht Bank…
Many statistics were presented at the JP Morgan Chase Investor Day 2024. Among them was a statement that the bank would invest (spend) some $17b…
Corporate Banking IT spending continues to grow – even accelerate in most regions – from 2023 through to 2025. Some of these increases will be e…
Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
During a challenging year for the broader US banking industry in 2023, the largest US banks demonstrated their resilience by experiencing signif…
In recent weeks I’ve had several conversations with some of the largest financial services technology companies and banks about adoption of publ…
Each year, Oliver Wyman (our parent company) partners with Morgan Stanley Research to publish an industry outlook for Wholesale Banking. This ye…
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
The economic shocks of 2022 and early 2023 appear to have calmed, but geo-political and financial conditions remain far from easy for banks and…
Trade Finance was once again a hot topic at this year's Sibos conference in Toronto, organized by Swift. The trade ecosystem has been working to…
2023 will be a challenging year for many in the industry. Post-pandemic expectations of a return to focusing on growth and innovation have been…
With the worst effects of the pandemic now having receded, the corporate banking industry is back to focusing on revenue and profitability. As s…
Geopolitical and economic waves have shocked markets around the world. In a period of disrupted supply chains, accelerating inflation, and risin…
For transaction banking, the sharp downturn in interest rates in 2020 led to a collapse of net interest income on deposits and effectively wiped…
For transaction banking, the sharp downturn in interest rates in 2020 led to a collapse of net interest income on deposits and effectively wiped…
The COVID-19 pandemic caused corporate leaders to look for ways to keep their businesses viable, and many of those leaders looked to their CFOs…
In 2018, Deutsche Bank embarked on CRAFT, a five-year program to overhaul the technology underpinning the bank’s global credit risk function, a…
MB has enhanced its market risk and counterparty credit risk (CCR) management to meet global standards, including: A near real-time VaR calcul…
In 2024, technological turbulence – generative artificial intelligence (Gen AI), digital asset adoption, increased fraud and cyber risk – will r…
The current banking and business market cycle highlights the critical need for risk management platforms, data, analytics and models. Rising inf…
Growing regulatory focus and investor pressure are making climate risk assessment an imperative at banks. Within climate risk, a critical focus…
The financial industry is at an inflection point, shaped by a confluence of macroeconomic forces, regulatory dynamics, and sociopolitical reperc…
Increasingly, risk offices at financial institutions are using advanced data management and artificial intelligence (AI), orchestration, high-pe…
Previsory is a portmanteau word coined by Celent to describe a forward-looking view of technology, and advice on how to respond to and leverage…
The banking credit risk management apparatus has changed dramatically since the financial crisis of 2008. Many banks, savings and loan companies…
Digital technologies including big data analytics, artificial intelligence, cloud, and APIs have already transformed customer-facing functions a…
DBS Bank reimagined their corporate credit risk management by building a one-stop solution for corporate credit processes, from origination to f…
The specialized technology that supports risk management functions has traditionally been supplied by internal development teams as well as by e…
In its inaugural year, Celent Model Risk Manager 2021 program received several high-quality nominations from a diverse mix of financial institut…
Credit Suisse’s Chief Risk Office in Asia Pacific created a cross-risk platform for risk identification and analysis across financial risk, oper…
State Street Global Advisors wanted the ability to monitor macroeconomic risks on its portfolios because it recognized the importance of underst…
Third Party Administration (TPA) and Business Process Outsourcing (BPO) offers insurers a way to reduce costs, address operational issues, and c…
Business Process Outsourcing (BPO) and Third Party Administration (TPA) services offer insurers a way to reduce costs, address operational issue…
Since 2011, Celent has been analyzing and evaluating BPO vendors. The 16 global vendors iprofiled in this report business process outsourcing (B…
Since 2011, Celent has been analyzing and evaluating BPO vendors. The 19 global vendors profiled in this report offer business process outsourci…
Are emerging technologies providing cost-effective options to manage closed block policies? In the L&A insurance segment, millions of policies t…
"Conversions are very risky, painful and are never on-time!"— is this old saying still true for insurance system conversions? Apparently, there…
The market for IT services continues to grow as providers rebound in the wake of the pandemic. On one end, commoditization of technology infrast…
The COVID-19 pandemic has been especially hard on P&C insurers. Along with a large number of natural disasters and severe weather events which c…
COVID-19 presented the global life insurance industry with challenges that have turned into opportunities. New societal realities and customer n…
The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
Insurance BPO (Business Process Outsourcing) sector has seen significant growth in the past owing to increasing customer demands and operational…
Insurance BPO (Business Process Outsourcing) sector has seen significant growth in the past owing to increasing customer demands and operational…
This Model Bank report uncovers how Discover Financial Services quickly adjusted to the challenges the pandemic created by enabling its agents t…
The pressure on the buy side is intense . On the journey to managing operational and regulatory demands in a cost-effective way, investment mana…
I've just returned from EBAday, the annual summit for leading payments and transaction banking executives, held in beautiful Lisbon, Portugal, t…
Many statistics were presented at the JP Morgan Chase Investor Day 2024. Among them was a statement that the bank would invest (spend) some $17b…
Corporate Banking IT spending continues to grow – even accelerate in most regions – from 2023 through to 2025. Some of these increases will be e…
Over the past few years, Celent has highlighted significant new entrants or solutions launched into the US Cash Management market. Goldman Sachs…
There is a tendency to talk about “buy versus build” development paradigms for banking solutions. Today, with the rapid changes in technology ar…
Bank of Montreal (BMO) completed the acquisition of Bank of the West in February 2023 and converted and migrated almost two million customer rel…
In 2018, Deutsche Bank embarked on CRAFT, a five-year program to overhaul the technology underpinning the bank’s global credit risk function, a…
Integrating and embedding financial data into ERP and TMS systems lies at the heart of a modern treasury organization. However, outdated legacy…
Global trade has been a driving force behind human civilization, fostering connections between cultures and regions through commerce. Banks play…
Super-regional banks in the US face a unique, competitive environment. They compete not only with the largest global money center banks but also…
Customer experience can be a major factor in driving brand awareness and revenue growth in corporate banking. The beginning of a client relation…
For many years Microsoft Excel was the staple application of finance teams. Perhaps one of the earliest “no-code” solutions, the combination of…
Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
During a challenging year for the broader US banking industry in 2023, the largest US banks demonstrated their resilience by experiencing signif…
In recent weeks I’ve had several conversations with some of the largest financial services technology companies and banks about adoption of publ…
Traditional banks and credit unions are increasingly launching new, digital-only brands. Standing up a modern digital-first version of the bank…
I recently had the opportunity to attend FIS Emerald in Orlando, FL from May 26-29, 2024. Lasting over three fast-paced days, this conference is…
Many statistics were presented at the JP Morgan Chase Investor Day 2024. Among them was a statement that the bank would invest (spend) some $17b…
OP Financial Group transformed its unsecured lending servicing, successfully adopting a next-generation cloud-native core platform while re-thin…
Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
Revolut has just launched a new eSIM service for its UK customers, to allow them to avoid mobile roaming charges while travelling abroad. The se…
The migration of on premise banking applications to private and public cloud deployment has been underway for over a past decade.Early migration…
Banking and banking technology are undergoing massive change. New business models and market strategies driven by neobanks and fintechs have pus…
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
We chatted with Sonny Singh, the Executive Vice-President and General Manager of Oracle Financial Services, about Oracle's cloud-based core bank…
Despite challenges posed by the macroeconomic environment, North American (NA) retail bank technology spending will grow by 3.5% in 2023. The hi…
The current banking crisis in 2023 has so far focused on large regional and national banks that have had liquidity issues leading to a bank run…
Agility is one of the standout technology priorities for retail banks this year. While the operating environment remains challenging, many banks…
Retail banks face an array of pressures around pricing. Competition means banks must create innovative value propositions through bundled capabi…
Celent recently hosted an in-person event, Navigating Turbulence, in New York City. I had the great opportunity to lead the cloud computing sess…
OakNorth is integrating climate transition risk into portfolio risk management. ON Climate provides lenders the ability to assess climate transi…
In 2024, technological turbulence – generative artificial intelligence (Gen AI), digital asset adoption, increased fraud and cyber risk – will r…
Recorded on October 31, 2023. The first waves of Gen AI are hitting the shore as FIs test use cases in call centers. But Risk Leaders see a tsun…
On 12th June 2023 (just yesterday), Nasdaq announced their intentions to acquire Adenza (which itself was created from the coming together of Ca…
The last 24 months have seen tectonic shifts in cloud adoption and openness to the cloud in financial services. The forces of digitalization, in…
The Risk team at Celent has regular conversations with industry participants to identify the technology and operational challenges they are faci…
The specialized technology that supports risk management functions has traditionally been supplied by internal development teams as well as by e…
This year, Celent interviewed 25 chief information officers and senior technology leaders of global market infrastructure (MI) to understand the…
Risk and compliance functions have traditionally lagged in adopting new technology. But that had started to change in the last 24 months, and th…
Market Pain Points Risk-centric and market structure regulations continue to create complex requirements that pose integration and information c…
The world had a tough 2020 but, unlike the 2008 financial markets crisis, this time capital markets emerged as the hero as governments worldwide…
Risk management has a crucial role to play in keeping financial institutions on an even keel during these turbulent times. This session focuses…
Broker-dealers continue to watch how the SEC and FINRA interpret and enforce Regulation Best Interest (Reg BI) and Form CRS. On October 26th, th…
Regulation based on principle will generate uncertainty; such are the challenges of interpretation. In the case of Reg BI, the tests involved in…
Employee conduct is critical for financial institutions due to the reputational and regulatory risks. It is a complex, enterprise-wide area invo…
Regulatory requirements related to data management have evolved from broad guidelines to specific requirements across a multitude of data qualit…
DBS' self-developed Movement Analyser is an intelligent tool to automate manual operations and bring advanced real time data analytics capabilit…
MB has enhanced its market risk and counterparty credit risk (CCR) management to meet global standards, including: A near real-time VaR calcul…
Recorded on October 31, 2023. The first waves of Gen AI are hitting the shore as FIs test use cases in call centers. But Risk Leaders see a tsun…
A volatile business environment, evolving regulatory requirements, more integrated approaches to risk management, and technology change all sign…
The current banking and business market cycle highlights the critical need for risk management platforms, data, analytics and models. Rising inf…
Increasingly, risk offices at financial institutions are using advanced data management and artificial intelligence (AI), orchestration, high-pe…
Globally, the financial environment remains in an ultra-low interest rate environment and there is a high probability that interest rates will r…
A new world of more costly, intrusive, and data-intensive regulatory regimes has challenged ALM practices and operating models to embrace greate…
Globally, the financial environment remains in an ultra-low interest rate environment and there is a high probability that interest rates will r…
Within the domain of financial asset-liability (ALM) and balance sheet risk management, next generation technology and emerging digital approach…
The operational challenges of AML compliance and the technical capabilities of anti-money laundering (AML) software have hit an impasse. This is…
With systemically important financial institutions expecting to spend in excess of $75 million annually on regulatory stress testing exercises,…
Celent analyzes architectural underpinnings, operating models. and market solutions that can enable sustainable future state capabilities for en…
This report in the Health Policy Administration series focuses on the perceptions of the insurers in their vendors. In the lead report, Celent s…
Are emerging technologies providing cost-effective options to manage closed block policies? In the L&A insurance segment, millions of policies t…
Health insurers are no longer simply paying medical bills and underwriting health. They are also supporting customers in various times of their…
This research will provide an overview of the insurance market and technology trends in Australia and New Zealand. We will provide examples of i…
What is Takaful Insurance? Takaful, often referred to as 'Islamic insurance', is a way for businesses to mitigate the financial risk of unforese…
Some loyal readers may be surprised by my authorship of a blog post. I suppose this my reintroduction to Celent. Prior to mid-2020, I led the Am…
Over the past two weeks, I moderated and presented at the 2021 InsureTech Connect Asia and Finovate Asia conferences. The hive of activities has…
In June 2020, Celent published its second global health policy administration system vendor report. In the framework of this report, we asked he…
Health insurance is undergoing big changes where technology has a significant impact. Health insurers are increasingly looking at ways to improv…
Insurers are choosing other approaches to technology modernization than just going with the traditional industrial approach where you build a ne…
The increasing importance of APIs in financial services has moved the middle layer to a customer facing role. Historically such layers were hidd…
The usage of legacy data sources combined with new alternative data sources are transforming underwriting, policy application approval, and issu…
Conversations in innovation strategy deployments has seen plug-and-play and APIs as the common solution for shipping and serving modular contain…
As we come to grips with the events at the turn of a new decade, there is never a better opportunity to re-imagine current business processes an…
Over the past decade, the health insurance market has been changing quickly. Health insurers are no longer simply paying medical bills and under…
Traditional banks and credit unions are increasingly launching new, digital-only brands. Standing up a modern digital-first version of the bank…
The imperative for financial institutions (FIs) to continuously add new technology capabilities drives them to evaluate existing systems to mode…
Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
Revolut has just launched a new eSIM service for its UK customers, to allow them to avoid mobile roaming charges while travelling abroad. The se…
It doesn’t take a deep thinker to see the manifest advantages of digital banking over reliance on people-intensive brick and mortar. ATMs are a…
The volume of Zelle© payments at major US banks is still increasing rapidly. Digital product owners and distribution channel leads should be awa…
With the resumption of student debt repayments in October, the student borrower is back in the news and should be on the minds of bankers. Banks…
The next evolution of retail delivery won’t be in new self-service features, but emerging highly personalized, valuable experiences for customer…
We’ve just published the latest in a series of reports that help leaders understand and promote the value of digital customer engagement in reta…
Despite challenges posed by the macroeconomic environment, North American (NA) retail bank technology spending will grow by 3.5% in 2023. The hi…
Agility is one of the standout technology priorities for retail banks this year. While the operating environment remains challenging, many banks…
Customer remediation has become a huge financial issue in banking, with costs for some banks reaching well into the billions. A primary cause fo…
Celent has released a new report specifically for digital banking channel owners that covers specialized fintech, rising competition from non-ba…
The small business digital engagement model is rapidly expanding from one-dimensional self-service to a prism of value-added services. Ease of s…
Celent is keeping an eye on the emerging consumer tech that might provide new ways for banks and service providers to engage with digital custom…
I recently had the opportunity to attend FIS Emerald in Orlando, FL from May 26-29, 2024. Lasting over three fast-paced days, this conference is…
Insurers have often lamented their status as a “low-touch” business: That is, customers only engage with their carriers at acquisition/renewal a…
Recorded on October 4, 2023. In this on-demand webinar, learn how insurers can adapt to the digital landscape by providing personalized experie…
It would be a stretch to say that Sibos news and chatter was dominated by generative AI (or Gen AI). After all, for banks at least, we are still…
The next evolution of retail delivery won’t be in new self-service features, but emerging highly personalized, valuable experiences for customer…
The current banking crisis in 2023 has so far focused on large regional and national banks that have had liquidity issues leading to a bank run…
Customer communication management (CCM) systems create, deliver, and store outbound and inbound customer communications information (documents a…
Customer remediation has become a huge financial issue in banking, with costs for some banks reaching well into the billions. A primary cause fo…
Over three weeks in September 2022, Celent Banking team ran an online survey where we invited our contacts in the industry – clients and non-cli…
Faced with historically high inflation and energy bills, increasing interest rates, and continued geopolitical and economic uncertainty, consume…
Experiencing product value before purchase drives growth—Product-Led Growth:PLG •This is a primer for those who are not so familiar with Product…
Last week, my colleague Kieran Hines and I attended FinovateEurope 2022, which was back in London as an in-person event again, and it was such a…
Tower is a specialised personal and commercial lines insurer in New Zealand with approximately 304,000 customers across New Zealand and the Paci…
The marketing statements of financial institutions have for years touted“customer-first”, “customer 360”; and “omnichannel communications” to de…
Customer communications management (CCM) systems create, deliver and store outbound and inbound customer communications information (documents a…
Many statistics were presented at the JP Morgan Chase Investor Day 2024. Among them was a statement that the bank would invest (spend) some $17b…
Corporate Banking IT spending continues to grow – even accelerate in most regions – from 2023 through to 2025. Some of these increases will be e…
Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
During a challenging year for the broader US banking industry in 2023, the largest US banks demonstrated their resilience by experiencing signif…
In recent weeks I’ve had several conversations with some of the largest financial services technology companies and banks about adoption of publ…
Each year, Oliver Wyman (our parent company) partners with Morgan Stanley Research to publish an industry outlook for Wholesale Banking. This ye…
Asia’s economic and banking landscape is far from homogeneous. The region has a diverse mix of small and large countries with widely varying lev…
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
The economic shocks of 2022 and early 2023 appear to have calmed, but geo-political and financial conditions remain far from easy for banks and…
This weekend I head to the Association for Financial Professional (AFP) conference in San Diego – one of my favorite conference cities in the US…
Corporate receivables management platforms have advanced significantly since Celent’s last vendor comparison, yet solutions remain widely varied…
Sub-accounts and virtual accounts are not new, but interest from large corporates has increased in recent years. Pioneered with multinational co…
Many of the largest banks have invested in corporate virtual account management (VAM) solutions – primarily to help larger clients with complex…
Corporate treasury and finance organizations play a crucial role in managing businesses’ financial operations, especially for those firms that h…
2023 will be a challenging year for many in the industry. Post-pandemic expectations of a return to focusing on growth and innovation have been…
Traditional banks and credit unions are increasingly launching new, digital-only brands. Standing up a modern digital-first version of the bank…
I recently had the opportunity to attend FIS Emerald in Orlando, FL from May 26-29, 2024. Lasting over three fast-paced days, this conference is…
Many statistics were presented at the JP Morgan Chase Investor Day 2024. Among them was a statement that the bank would invest (spend) some $17b…
OP Financial Group transformed its unsecured lending servicing, successfully adopting a next-generation cloud-native core platform while re-thin…
Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
Revolut has just launched a new eSIM service for its UK customers, to allow them to avoid mobile roaming charges while travelling abroad. The se…
The migration of on premise banking applications to private and public cloud deployment has been underway for over a past decade.Early migration…
Banking and banking technology are undergoing massive change. New business models and market strategies driven by neobanks and fintechs have pus…
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
We chatted with Sonny Singh, the Executive Vice-President and General Manager of Oracle Financial Services, about Oracle's cloud-based core bank…
Despite challenges posed by the macroeconomic environment, North American (NA) retail bank technology spending will grow by 3.5% in 2023. The hi…
The current banking crisis in 2023 has so far focused on large regional and national banks that have had liquidity issues leading to a bank run…
Agility is one of the standout technology priorities for retail banks this year. While the operating environment remains challenging, many banks…
Retail banks face an array of pressures around pricing. Competition means banks must create innovative value propositions through bundled capabi…
Celent recently hosted an in-person event, Navigating Turbulence, in New York City. I had the great opportunity to lead the cloud computing sess…