2019/04/11
Celent recognizes Deutsche Bank Spain as the winner of the Model Wealth Manager 2019 Client Experience Award for its initiative New Investment R…
Research related to TCS
Research related to TCS BaNCS Global Banking Platform for Community and Regional banks
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2024/10/17The report delves into the evolving landscape of trade finance, focusing on the transition from traditional manual processes to digital and AI-p…
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2024/10/08I recently had the opportunity to attend Fiserv Forum in Las Vegas, NV from September 29-October 1, 2024. Lasting over 2 ½ fast-paced days, this…
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2024/09/27As part of Celent’s ongoing coverage of technology and business trends in genAI, Celent held its Generative AI Symposium in New York last week.…
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2024/09/04The core banking system technology market for community banks continues to modernize at a steady pace. Vendors continue to proactively and profi…
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2024/08/21The CFPB's proposals for Section 1033 mark the beginning of a new era for open banking in the US. Assuming the proposals that are published in O…
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2024/08/21Fighting financial crime has jumped to the top of Risk priorities in 2024, with a majority of Risk executives citing it as one of their top thre…
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2024/07/17Risk management technology spending is accelerating worldwide, driven by a combination of regulatory change, technological development, and macr…
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2024/07/13While artificial intelligence has been selectively implemented to help banks fight financial crime, recent breakthroughs in AI technology promis…
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2024/06/11Traditional banks and credit unions are increasingly launching new, digital-only brands. Standing up a modern digital-first version of the bank…
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2024/06/06I 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…
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2024/05/23Many statistics were presented at the JP Morgan Chase Investor Day 2024. Among them was a statement that the bank would invest (spend) some $17b…
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2024/03/28Financial crime compliance operations are plagued with perhaps the most severe efficiency and accuracy issues in financial services. Fortunately…
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2024/03/20OP Financial Group transformed its unsecured lending servicing, successfully adopting a next-generation cloud-native core platform while re-thin…
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2024/02/21Watchlist screening has become the most-scrutinized area of AML compliance, and vendor solutions are evolving rapidly, driven by AI, machine lea…
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2024/02/16Celent is hosting its annual Innovation and Insight Day on March 21st, where we will announce our 2024 Celent Model Bank Award winners. The even…
Research related to TCS BaNCS for Reconciliations
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2024/04/09Traditionally, the reconciliations process and technology have been seen as a "back-office" problem and have not received sufficient investment.…
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2020/08/09Reconciliation is a critical part of capital markets operations because the inability to get it right can result in business losses, suboptimal…
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2019/01/24Intelligent automation-enabled tools promise to offer significant operational and efficiency improvements in the middle and back office in capit…
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2017/06/21Just 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…
Research related to TCS BaNCS for Property and Casualty
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2024/10/10Snap polls reflect questions posed by members of the Celent Executive Panel, a group of C level executives at insurance carriers. This comes fro…
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2024/05/14About the Showcase Gen AI is the hottest topic in the industry right now. Insurers are reaching out daily with questions and the need for advice…
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2023/09/21Recorded on September 21, 2023. In this webinar, we look at what the market for these foundational systems offers today and where the market is…
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2023/09/04Insurance companies have varying preferences when it comes to selecting core systems. While some prefer to purchase a pre-built policy administr…
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2023/06/04Insurers have been modernizing their legacy systems, increasing their presence in cloud, and finding innovative use cases driven by emerging tec…
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2023/05/07Every two years, Celent reviews and profiles LATAM’s P&C insurance policy administration systems. In February 2023, Celent published the LATAM P…
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2023/03/28Policy admin systems are becoming increasingly sophisticated as insurers look to optimize their processes and improve the customer experience. O…
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2023/02/14This report provides an overview of the policy administration systems available in Asia Pacific for property casualty insurance carriers. The re…
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2023/02/10This report is part of a series on policy administration systems (PAS) in North America, Latin America, EMEA, and the Asia-Pacific. It profiles…
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2023/02/09This report profiles major property casualty policy administration systems available in Latin America today. It profiles 19 policy administratio…
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2022/09/28This research will provide an overview of the insurance market and technology trends in Australia and New Zealand. We will provide examples of i…
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2022/08/05What is Takaful Insurance? Takaful, often referred to as 'Islamic insurance', is a way for businesses to mitigate the financial risk of unforese…
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2021/06/30Over the past two weeks, I moderated and presented at the 2021 InsureTech Connect Asia and Finovate Asia conferences. The hive of activities has…
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2021/03/11
Insurers are pursuing digitization while challenging themselves to become customer centric. Some have gone the path of establishing greenfield d…
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2021/03/11In today’s globalized business environment, companies increasingly seek success outside their borders. To differentiate themselves, internationa…
Research related to BaNCS ADK
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2024/10/21While it is typical to find incremental changes in Celent’s biannual examination of vendor solutions, for intelligent virtual assistant platform…
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2024/09/30Historically, banks have faced challenges providing comprehensive cash position and forecasting solutions due to limited access to transaction d…
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2024/09/06Celent’s overarching theme for corporate banking in 2024 is that future success rests on faster, safer, smarter innovation. Banks must deliver t…
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2024/06/26I've just returned from EBAday, the annual summit for leading payments and transaction banking executives, held in beautiful Lisbon, Portugal, t…
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2024/06/11
Traditional banks and credit unions are increasingly launching new, digital-only brands. Standing up a modern digital-first version of the bank…
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2024/05/23
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…
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2024/05/16Corporate Banking IT spending continues to grow – even accelerate in most regions – from 2023 through to 2025. Some of these increases will be e…
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2024/04/30Over the past few years, Celent has highlighted significant new entrants or solutions launched into the US Cash Management market. Goldman Sachs…
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2024/04/23There is a tendency to talk about “buy versus build” development paradigms for banking solutions. Today, with the rapid changes in technology ar…
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2024/03/21The imperative for financial institutions (FIs) to continuously add new technology capabilities drives them to evaluate existing systems to mode…
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2024/03/21Bank of Montreal (BMO) completed the acquisition of Bank of the West in February 2023 and converted and migrated almost two million customer rel…
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2024/03/21In 2018, Deutsche Bank embarked on CRAFT, a five-year program to overhaul the technology underpinning the bank’s global credit risk function, a…
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2024/03/20Integrating and embedding financial data into ERP and TMS systems lies at the heart of a modern treasury organization. However, outdated legacy…
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2024/03/20Global trade has been a driving force behind human civilization, fostering connections between cultures and regions through commerce. Banks play…
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2024/03/19Super-regional banks in the US face a unique, competitive environment. They compete not only with the largest global money center banks but also…
Research related to TCS BaNCS for Wealth Management
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2024/01/03Is the RIA industry being disrupted? After a monumental year from one late-stage WealthTech startup, the answer appears to be yes. WealthTech St…
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2023/09/26Client onboarding continues to be a significant pain point for advisors. And new account opening (NAO) is arguably one of the most inefficient a…
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2023/08/26This report is a companion piece to the Global IT report and focuses solely on North American Wealth Management IT Spending which includes Canad…
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2023/06/27With the introduction of ChatGPT, large language models (LLMs) have become a significant part of the AI landscape due to their ability to revolu…
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2023/03/29The science of artificial intelligence is complicated. The technologies or sub domains that make up AI such as machine learning and natural lang…
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2023/03/08Summary In-depth personalization experiences rely on relevant user data, unifying their engagement channels, and creating segments to build firs…
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2023/03/03It is well known that advisors spend an inordinate amount of time on non-revenue producing and non-client facing activities. These include admin…
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2023/02/23Our upcoming report Advisor Productivity: What’s Technology Got To Do, Got To Do With It? reveals that financial advisors spend an inordinate am…
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2022/09/30Experiencing product value before purchase drives growth—Product-Led Growth:PLG •This is a primer for those who are not so familiar with Product…
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2022/07/24Investment Culture Has Rooted in Japan, However Spread of Open APIs Is Slower than Expected In Japan, a country with a large amount of personal…
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2022/05/16The acquisition of Redtail by Orion positions Orion as one of the most comprehensive all-in-one platform providers serving both RIAs and enterpr…
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2021/05/18As the world finally turn the page to a new post-pandemic chapter, the Wealth Management industry has reason for cautious optimism. While much u…
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2021/04/29
Representatives of the wealth managmenet industry gathered at Celent's Live Wealth Management Session at I&I Week 2021. Under the theme of Accel…
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2021/04/07Celent hosted its 15th annual Innovation & Insight Week (I&I Week) and its fourth annual Model Wealth Manager Awards (Model WM Awards) program o…
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2021/03/08
Congratulations Morgan Stanley, Merrill Lynch, and BNY Mellon Pershing on being Celent's Model Wealth Manager 2021 award winners! Links to the c…
Research related to TCS BaNCS for Corporate Actions
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2024/01/22In May 2024, barring any further delays, the United States and Canada will be shortening their trade settlement cycles from a two-day settlement…
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2020/05/03Treasury and capital markets divisions at banks continue to struggle with the trilemma of complying with regulatory changes and meeting evolving…
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2020/02/21The race is on to get lean and agile. Unfortunately, capital markets firms continue to struggle with common operational and technology challenge…
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2019/11/27Corporate actions processing has lagged other areas in technology innovation. However, developments in new technology and low-cost operating mod…
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2019/09/10Join us for this presentation by Arin Ray addressing corporate actions automation and how to leverage innovative technology to improving efficie…
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2019/08/16A failure to elect on a corporate action due to an operational error can hurt the beneficiary financially. This exposes the firm to scrutiny abo…
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2019/08/14With a more relaxed US regulatory climate, tax reform and growing cash reserves more public companies are building strategic growth through merg…
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2019/08/06With growing volumes and complexities of corporate actions, intensifying regulatory scrutiny on transparency in corporate governance, and dimini…
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2019/05/14The 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…
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2019/01/24
Intelligent automation-enabled tools promise to offer significant operational and efficiency improvements in the middle and back office in capit…
Research related to TCS BaNCS for Payments
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2024/10/20With the challenges that banks face today, let alone tomorrow, today’s payment systems simply aren’t going to be good enough. As a result, banks…
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2024/06/26
I've just returned from EBAday, the annual summit for leading payments and transaction banking executives, held in beautiful Lisbon, Portugal, t…
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2024/03/11The countdown for the FedWire migration has not only started but is well underway. While some banks are prepared, evidence suggests that many ba…
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2024/02/19I'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…
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2024/02/18If 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…
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2024/01/10In 2023, we discussed the idea of “payments convergence” with several of our clients at Celent. Also, embedded finance continued to be a hot top…
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2023/12/13The migration of on premise banking applications to private and public cloud deployment has been underway for over a past decade.Early migration…
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2023/12/04Banking and banking technology are undergoing massive change. New business models and market strategies driven by neobanks and fintechs have pus…
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2023/11/19Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
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2023/11/15The economic shocks of 2022 and early 2023 appear to have calmed, but geo-political and financial conditions remain far from easy for banks and…
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2023/09/21Actually, the title of this is not strictly true... While Celent was well represented at SIBOS with several of our colleagues attending this wee…
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2023/07/25Celent 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…
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2023/07/16BaaS, PaaS, CBDCs, and PSD3 were the buzzwords that dominated many of the sessions and my conversations with colleagues at EBAday 2023 in Madrid…
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2023/05/06It’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…
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2023/04/28I always look forward to meeting with payments colleagues at the Nacha Smarter Faster Payments conference. It was my first time in Las Vegas in…
Research related to TCS BaNCS for Islamic Banking
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2024/08/21
The CFPB's proposals for Section 1033 mark the beginning of a new era for open banking in the US. Assuming the proposals that are published in O…
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2024/07/17
Risk management technology spending is accelerating worldwide, driven by a combination of regulatory change, technological development, and macr…
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2024/04/09Regulatory requirements related to data management have evolved from broad guidelines to specific requirements across a multitude of data qualit…
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2024/03/21MB has enhanced its market risk and counterparty credit risk (CCR) management to meet global standards, including: A near real-time VaR calcul…
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2024/03/20OakNorth is integrating climate transition risk into portfolio risk management. ON Climate provides lenders the ability to assess climate transi…
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2024/01/22Nasdaq and its subsidiary Verafin, just published their first Global Financial Crime Report. The report is making headlines for the size of its…
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2023/11/30In 2024, technological turbulence – generative artificial intelligence (Gen AI), digital asset adoption, increased fraud and cyber risk – will r…
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2023/11/22When 2023 opened with the scare of an SVB-led financial contagion, financial risk topped the list of CRO concerns. With that crisis averted, ope…
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2023/10/27Recorded 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…
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2023/10/09After nearly a year at the helm of Celent's Risk practice, I had the privilege of attending my inaugural Sibos conference. My colleagues Patrici…
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2023/08/08Few financial institutions have yet to implement Generative Artificial Intelligence (GenAI) technology in their operations, however, both large…
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2023/07/19Recorded on July 19, 2023. Want to hear more about the current state of technology strategy and investment prioritization in the industry? Our w…
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2023/07/12Operational resilience regulation is spurring GRC transformation in financial institutions - more urgently in countries with high regulatory req…
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2023/06/13On 12th June 2023 (just yesterday), Nasdaq announced their intentions to acquire Adenza (which itself was created from the coming together of Ca…
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2023/03/28With rising foreign investment in Vietnam, VP Bank wanted to offer their corporate customers currency and interest rate swaps, but the banks’ co…
Research related to TCS BaNCS Digital Solution for Agents/ Brokers
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2023/09/11For the first several years of the insurtech movement, the conventional wisdom from the tech-industry founders looking to disrupt insurance was…
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2021/09/29Shifting customer expectations are creating a new need for new business models. As the current workforce ages, insurers are exploring new distri…
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2021/09/20The digital experience for agents is becoming a new strategic battleground for insurance companies. Digital capabilities are being extended acro…
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2021/07/19Insurers that use independent agents know that high production is correlated with strong relationships. But the world of the independent agent i…
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2021/06/30
Over the past two weeks, I moderated and presented at the 2021 InsureTech Connect Asia and Finovate Asia conferences. The hive of activities has…
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2021/06/10Snap polls reflect questions posed by members of the Celent Executive Research Panel, a group of C level executives in the insurance industry. T…
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2019/09/27Agent portal technology promises to provide agents with the ease and speed of a digital experience. This review of 18 solutions compares them an…
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2019/09/27Portals have evolved from acting as a gateway to providing a single look and feel that eases data entry and allows the agent to conduct their tr…
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2018/10/29A focus on the insurance ecosystem, the role of digital, innovation, and InsurTech. I had the great pleasure of attending DIA Munich 2018 . As a…
Research related to TCS BaNCS - Core Banking
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2024/10/08
I recently had the opportunity to attend Fiserv Forum in Las Vegas, NV from September 29-October 1, 2024. Lasting over 2 ½ fast-paced days, this…
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2024/09/04
The core banking system technology market for community banks continues to modernize at a steady pace. Vendors continue to proactively and profi…
-
2024/08/21
The CFPB's proposals for Section 1033 mark the beginning of a new era for open banking in the US. Assuming the proposals that are published in O…
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2024/06/11
Traditional banks and credit unions are increasingly launching new, digital-only brands. Standing up a modern digital-first version of the bank…
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2024/06/06
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…
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2024/05/23
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…
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2024/03/20
OP Financial Group transformed its unsecured lending servicing, successfully adopting a next-generation cloud-native core platform while re-thin…
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2024/02/16
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…
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2024/02/13Revolut has just launched a new eSIM service for its UK customers, to allow them to avoid mobile roaming charges while travelling abroad. The se…
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2023/12/13
The migration of on premise banking applications to private and public cloud deployment has been underway for over a past decade.Early migration…
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2023/12/04
Banking and banking technology are undergoing massive change. New business models and market strategies driven by neobanks and fintechs have pus…
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2023/11/19
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
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2023/09/13We chatted with Sonny Singh, the Executive Vice-President and General Manager of Oracle Financial Services, about Oracle's cloud-based core bank…
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2023/08/31Despite challenges posed by the macroeconomic environment, North American (NA) retail bank technology spending will grow by 3.5% in 2023. The hi…
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2023/08/21The 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…
Research related to TCS BaNCS for Compliance
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2024/10/17
The report delves into the evolving landscape of trade finance, focusing on the transition from traditional manual processes to digital and AI-p…
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2024/09/27
As part of Celent’s ongoing coverage of technology and business trends in genAI, Celent held its Generative AI Symposium in New York last week.…
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2024/08/21
Fighting financial crime has jumped to the top of Risk priorities in 2024, with a majority of Risk executives citing it as one of their top thre…
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2024/07/19I recently attended an executive roundtable of the heads of AML, Sanctions and Screening programs for some prominent global banks and fintechs.…
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2024/07/17
Risk management technology spending is accelerating worldwide, driven by a combination of regulatory change, technological development, and macr…
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2024/07/13
While artificial intelligence has been selectively implemented to help banks fight financial crime, recent breakthroughs in AI technology promis…
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2024/03/28
Financial crime compliance operations are plagued with perhaps the most severe efficiency and accuracy issues in financial services. Fortunately…
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2024/03/20Legacy technology can be a significant barrier to efficient operations in anti-money laundering and financial crime compliance. Banco do Brasil…
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2024/02/21
Watchlist screening has become the most-scrutinized area of AML compliance, and vendor solutions are evolving rapidly, driven by AI, machine lea…
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2024/01/22
Nasdaq and its subsidiary Verafin, just published their first Global Financial Crime Report. The report is making headlines for the size of its…
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2023/11/30
In 2024, technological turbulence – generative artificial intelligence (Gen AI), digital asset adoption, increased fraud and cyber risk – will r…
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2023/11/22
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…
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2023/10/23Financial crime compliance departments at banks and non-bank financial institutions (NBFIs) are challenged to keep up with the high volumes of a…
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2023/10/09
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…
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2023/09/29The financial industry is facing increasing regulatory demands for assurance around watchlist management and sanctions screening. At first glanc…
Research related to TCS Conversa
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2024/10/21
While it is typical to find incremental changes in Celent’s biannual examination of vendor solutions, for intelligent virtual assistant platform…
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2024/09/27Once the exclusive domain of large enterprises, intelligent virtual assistants (IVAs) based on conversational artificial intelligence (CAI) are…
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2024/08/08Generative AI (GenAI) will drive step change in small business customer service and engagement. While the vast majority of functionality that sm…
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2024/08/07Generative AI (GenAI) will transform how financial institutions (FIs) interact with their customers and how their front-office employees engage…
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2023/09/24The next evolution of retail delivery won’t be in new self-service features, but emerging highly personalized, valuable experiences for customer…
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2023/09/07We’ve just published the latest in a series of reports that help leaders understand and promote the value of digital customer engagement in reta…
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2023/04/19Celent has released a new report specifically for digital banking channel owners that covers specialized fintech, rising competition from non-ba…
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2023/03/23Celent is keeping an eye on the emerging consumer tech that might provide new ways for banks and service providers to engage with digital custom…
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2022/11/11Over three weeks in September 2022, Celent Banking team ran an online survey where we invited our contacts in the industry – clients and non-cli…
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2022/10/31Faced with historically high inflation and energy bills, increasing interest rates, and continued geopolitical and economic uncertainty, consume…
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2022/03/16Before vendor-built conversational interactive voice response (IVR) systems were widely available, Alior Bank embarked on an ambitious program t…
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2022/03/14Tower is a specialised personal and commercial lines insurer in New Zealand with approximately 304,000 customers across New Zealand and the Paci…
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2022/03/09Once the exclusive domain of large enterprises, intelligent virtual agents (IVAs) based on conversational artificial intelligence (CAI) are quic…
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2021/11/30
Interactive Voice Response (IVR) systems have greeted inbound callers for decades. Are we nearing the end of IVRs as we know them? Based on an O…
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2021/10/26The last 18 months have been like no other in recent memory. The COVID-19 pandemic forced everyone, not just those in financial services, to rea…
Research related to TCS OPTiX
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2024/09/15The insurance industry is moving quickly to understand and begin to leverage the unique capabilities of GenAI technology. While most carriers ar…
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2024/09/06
Celent’s overarching theme for corporate banking in 2024 is that future success rests on faster, safer, smarter innovation. Banks must deliver t…
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2024/08/21
The CFPB's proposals for Section 1033 mark the beginning of a new era for open banking in the US. Assuming the proposals that are published in O…
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2024/07/19With its ability to analyze vast amounts of data, identify patterns, and make intelligent predictions, AI has rapidly been adopted across the ba…
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2024/06/13Celent recently published the Dimensions: IT Pressures and Priorities report series. This annual survey of bank executives worldwide is used to…
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2024/05/15About the Showcase Gen AI is the hottest topic in the industry right now. Insurers are reaching out daily with questions and the need for advice…
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2024/03/20DBS Bank, one of the largest banks in the Asia-Pacific region, has a long-standing reputation for innovation. With AI becoming a more pervasive…
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2024/03/05For many years Microsoft Excel was the staple application of finance teams. Perhaps one of the earliest “no-code” solutions, the combination of…
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2024/02/26
In Celent's enterprise data enablement survey a few years ago, both asset managers and asset owners indicated a renewed trajectory towards enhan…
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2024/02/08Just as COVID-19 provided the “aha” moment for accelerating digital transformation in the insurance industry, generative AI (Gen AI) is the “aha…
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2023/11/26Asia’s economic and banking landscape is far from homogeneous. The region has a diverse mix of small and large countries with widely varying lev…
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2023/11/19
Last week the Celent corporate banking team published its annual Technology Trends Previsory: Corporate Banking 2024 Edition which can be downl…
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2023/10/01In trading, the person with more information usually has a head start that is often difficult to overcome. This advantage, called information as…
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2023/07/25Here at Celent we have just published the results of our Celent Technology Insight and Strategy Survey, 2023. For the corporate banking market,…
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2023/06/27
With the introduction of ChatGPT, large language models (LLMs) have become a significant part of the AI landscape due to their ability to revolu…
Research related to Quartz solution for Compliance - Transaction Monitoring System
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2024/10/17
The report delves into the evolving landscape of trade finance, focusing on the transition from traditional manual processes to digital and AI-p…
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2024/09/27
As part of Celent’s ongoing coverage of technology and business trends in genAI, Celent held its Generative AI Symposium in New York last week.…
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2024/08/21
Fighting financial crime has jumped to the top of Risk priorities in 2024, with a majority of Risk executives citing it as one of their top thre…
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2024/07/17
Risk management technology spending is accelerating worldwide, driven by a combination of regulatory change, technological development, and macr…
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2024/07/13
While artificial intelligence has been selectively implemented to help banks fight financial crime, recent breakthroughs in AI technology promis…
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2024/03/28
Financial crime compliance operations are plagued with perhaps the most severe efficiency and accuracy issues in financial services. Fortunately…
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2024/01/22
Nasdaq and its subsidiary Verafin, just published their first Global Financial Crime Report. The report is making headlines for the size of its…
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2023/11/30
In 2024, technological turbulence – generative artificial intelligence (Gen AI), digital asset adoption, increased fraud and cyber risk – will r…
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2023/10/09
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…
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2023/07/20What if you could identify and discard risky applicants before you took them through an expensive identity proofing exercise? What if you had a…
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2023/07/19
Recorded on July 19, 2023. Want to hear more about the current state of technology strategy and investment prioritization in the industry? Our w…
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2023/07/17The ongoing transition to AI-enabled, high performance financial crime compliance systems is a leading indicator of the application of digital t…
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2023/06/16HSBC is making the innovative move, for a global bank, of partnering with Google Cloud to adopt a cloud-based machine-learning powered solution…
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2023/04/28Digital technologies are driving significant change in anti-money laundering (AML) operations. Still, financial crime compliance remains heavily…
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2023/02/28As financial institutions and regulated industries face ever more complex money laundering and criminal schemes, a sole reliance on rules is no…
Research related to Quartz solution for Compliance - Watchlist Screening
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2024/10/17
The report delves into the evolving landscape of trade finance, focusing on the transition from traditional manual processes to digital and AI-p…
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2024/09/27
As part of Celent’s ongoing coverage of technology and business trends in genAI, Celent held its Generative AI Symposium in New York last week.…
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2024/08/21
Fighting financial crime has jumped to the top of Risk priorities in 2024, with a majority of Risk executives citing it as one of their top thre…
-
2024/07/19
I recently attended an executive roundtable of the heads of AML, Sanctions and Screening programs for some prominent global banks and fintechs.…
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2024/07/17
Risk management technology spending is accelerating worldwide, driven by a combination of regulatory change, technological development, and macr…
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2024/07/13
While artificial intelligence has been selectively implemented to help banks fight financial crime, recent breakthroughs in AI technology promis…
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2024/03/28
Financial crime compliance operations are plagued with perhaps the most severe efficiency and accuracy issues in financial services. Fortunately…
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2024/03/20
Legacy technology can be a significant barrier to efficient operations in anti-money laundering and financial crime compliance. Banco do Brasil…
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2024/02/21
Watchlist screening has become the most-scrutinized area of AML compliance, and vendor solutions are evolving rapidly, driven by AI, machine lea…
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2024/01/22
Nasdaq and its subsidiary Verafin, just published their first Global Financial Crime Report. The report is making headlines for the size of its…
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2023/11/30
In 2024, technological turbulence – generative artificial intelligence (Gen AI), digital asset adoption, increased fraud and cyber risk – will r…
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2023/11/22
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…
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2023/10/23
Financial crime compliance departments at banks and non-bank financial institutions (NBFIs) are challenged to keep up with the high volumes of a…
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2023/10/09
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…
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2023/09/29
The financial industry is facing increasing regulatory demands for assurance around watchlist management and sanctions screening. At first glanc…
Research related to TCS BaNCS for Health Insurance
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2024/03/21Taiwan Life Insurance’s AI Platform for Claims provides multiple convenient claims delivery channels that address the many issues Taiwanese poli…
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2023/03/19This report in the Health Policy Administration series focuses on the perceptions of the insurers in their vendors. In the lead report, Celent s…
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2023/03/08Are emerging technologies providing cost-effective options to manage closed block policies? In the L&A insurance segment, millions of policies t…
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2022/12/21Health insurers are no longer simply paying medical bills and underwriting health. They are also supporting customers in various times of their…
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2022/09/28
This research will provide an overview of the insurance market and technology trends in Australia and New Zealand. We will provide examples of i…
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2022/08/05
What is Takaful Insurance? Takaful, often referred to as 'Islamic insurance', is a way for businesses to mitigate the financial risk of unforese…
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2022/07/13Some 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…
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2021/06/30
Over the past two weeks, I moderated and presented at the 2021 InsureTech Connect Asia and Finovate Asia conferences. The hive of activities has…
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2021/06/07In June 2020, Celent published its second global health policy administration system vendor report. In the framework of this report, we asked he…
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2021/05/17Health insurance is undergoing big changes where technology has a significant impact. Health insurers are increasingly looking at ways to improv…
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2021/03/03Insurers are choosing other approaches to technology modernization than just going with the traditional industrial approach where you build a ne…
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2020/12/18The increasing importance of APIs in financial services has moved the middle layer to a customer facing role. Historically such layers were hidd…
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2020/12/02The usage of legacy data sources combined with new alternative data sources are transforming underwriting, policy application approval, and issu…
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2020/10/02Healthcare is more important than ever, and digital health solutions are enabling personalized health assessment and overall care. Digital healt…
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2020/08/29Conversations in innovation strategy deployments has seen plug-and-play and APIs as the common solution for shipping and serving modular contain…
Research related to TCS Customer Intelligence & Insights™ (CI&I) for Insurance
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2024/10/21
While it is typical to find incremental changes in Celent’s biannual examination of vendor solutions, for intelligent virtual assistant platform…
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2024/10/10
Snap polls reflect questions posed by members of the Celent Executive Panel, a group of C level executives at insurance carriers. This comes fro…
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2024/10/08
I recently had the opportunity to attend Fiserv Forum in Las Vegas, NV from September 29-October 1, 2024. Lasting over 2 ½ fast-paced days, this…
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2024/09/30
Historically, banks have faced challenges providing comprehensive cash position and forecasting solutions due to limited access to transaction d…
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2024/09/30In the early part of the year, insurance made the news in North Carolina because carriers were asking for up to double the rate along the fragil…
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2024/09/26The emergence of insurtechs in the 2010–2015 period marked a new stage in the evolution of MGAs. The value propositions of many insurtechs cente…
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2024/09/17Policy administration systems are effective at generating policies by capturing demographic information, tracking policy terms and conditions, a…
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2024/09/17Policy administration systems are effective at generating policies by capturing demographic information, tracking policy terms and conditions, a…
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2024/09/17In response to the voice of its clients, Celent is writing a series of reports on the tech vendors supporting the GenAI initiatives at financial…
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2024/09/15
The insurance industry is moving quickly to understand and begin to leverage the unique capabilities of GenAI technology. While most carriers ar…
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2024/09/08Currently, there is a great deal of excitement in the artificial intelligence (AI) community about agentic AI, multi-agent systems and GenAI age…
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2024/09/06
Celent’s overarching theme for corporate banking in 2024 is that future success rests on faster, safer, smarter innovation. Banks must deliver t…
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2024/08/21
The CFPB's proposals for Section 1033 mark the beginning of a new era for open banking in the US. Assuming the proposals that are published in O…
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2024/07/19
With its ability to analyze vast amounts of data, identify patterns, and make intelligent predictions, AI has rapidly been adopted across the ba…
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2024/07/15Retail loan origination requires the interplay of many internal and external systems to originate, underwrite, and close a loan. These processes…
Research related to TCS Customer Intelligence & Insights™ (CI&I) for Banking
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2024/10/10
Snap polls reflect questions posed by members of the Celent Executive Panel, a group of C level executives at insurance carriers. This comes fro…
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2024/09/27Pricing models need to change because new hazards are emerging, and some existing hazards are becoming more severe. Pricing models also need to…
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2024/09/26
The emergence of insurtechs in the 2010–2015 period marked a new stage in the evolution of MGAs. The value propositions of many insurtechs cente…
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2024/09/14The ability to detect insurance claims fraud is, in some ways, easier than ever. With each year, the datasets that insurers have access to are e…
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2024/08/12A claims fraud-detection system helps insurance carriers identify fraudulent claims at both the individual and organizational levels. It is typi…
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2024/08/12A claims fraud-detection system helps insurance carriers identify fraudulent claims at both the individual and organizational levels. It is typi…
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2024/07/19
With its ability to analyze vast amounts of data, identify patterns, and make intelligent predictions, AI has rapidly been adopted across the ba…
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2024/06/27Following up on Celent's biennial EMEA claims admin system review, Celent asked for customer references to get feedback on vendors and systems. …
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2024/06/26Following up from Celent's biennial North American claims admin system review, Celent asked for customer references in order to get feedback on…
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2024/06/13
Celent recently published the Dimensions: IT Pressures and Priorities report series. This annual survey of bank executives worldwide is used to…
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2024/05/16About the Showcase Gen AI is the hottest topic in the industry right now. Insurers are reaching out daily with questions and the need for advice…
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2024/05/15
About the Showcase Gen AI is the hottest topic in the industry right now. Insurers are reaching out daily with questions and the need for advice…
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2024/05/14
About the Showcase Gen AI is the hottest topic in the industry right now. Insurers are reaching out daily with questions and the need for advice…
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2024/04/25Throughout history, insurance has provided protection to countless individuals and businesses. However, alongside the insurance industry, insura…
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2024/03/27Life insurers were forced to digitize the sales process during the pandemic. Their move to direct-to-consumer sales (D2C) saw its peak (7+% of t…
Research related to TCS BaNCS Global Banking Platform
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2024/10/21
While it is typical to find incremental changes in Celent’s biannual examination of vendor solutions, for intelligent virtual assistant platform…
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2024/10/08
I recently had the opportunity to attend Fiserv Forum in Las Vegas, NV from September 29-October 1, 2024. Lasting over 2 ½ fast-paced days, this…
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2024/09/04
The core banking system technology market for community banks continues to modernize at a steady pace. Vendors continue to proactively and profi…
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2024/08/21
The CFPB's proposals for Section 1033 mark the beginning of a new era for open banking in the US. Assuming the proposals that are published in O…
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2024/07/15
Retail loan origination requires the interplay of many internal and external systems to originate, underwrite, and close a loan. These processes…
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2024/06/11
Traditional banks and credit unions are increasingly launching new, digital-only brands. Standing up a modern digital-first version of the bank…
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2024/06/06
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…
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2024/05/30Yes, I DO think there is a strong connection between banking technology and sports car racing, so buckle your seat belts. Last week I had the op…
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2024/05/23
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…
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2024/05/08Consumer credit scoring has existed for decades. It evolved from being a custom analytic product used within financial institutions to being a g…
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2024/04/29Consumer data privacy laws, regulations, and protections have existed for decades but are being modernized across the globe in response to digit…
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2024/04/22Loan origination system (LOS) technology has changed more in the last five years than it had in the previous 20. Market dynamics are shifting as…
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2024/03/21
The imperative for financial institutions (FIs) to continuously add new technology capabilities drives them to evaluate existing systems to mode…
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2024/03/20
OP Financial Group transformed its unsecured lending servicing, successfully adopting a next-generation cloud-native core platform while re-thin…
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2024/02/16
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…
Research related to TCS BaNCS Digital
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2024/10/21
While it is typical to find incremental changes in Celent’s biannual examination of vendor solutions, for intelligent virtual assistant platform…
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2024/09/30
Historically, banks have faced challenges providing comprehensive cash position and forecasting solutions due to limited access to transaction d…
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2024/09/06
Celent’s overarching theme for corporate banking in 2024 is that future success rests on faster, safer, smarter innovation. Banks must deliver t…
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2024/06/26
I've just returned from EBAday, the annual summit for leading payments and transaction banking executives, held in beautiful Lisbon, Portugal, t…
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2024/06/11
Traditional banks and credit unions are increasingly launching new, digital-only brands. Standing up a modern digital-first version of the bank…
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2024/05/23
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…
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2024/05/16
Corporate Banking IT spending continues to grow – even accelerate in most regions – from 2023 through to 2025. Some of these increases will be e…
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2024/04/30
Over the past few years, Celent has highlighted significant new entrants or solutions launched into the US Cash Management market. Goldman Sachs…
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2024/04/23
There is a tendency to talk about “buy versus build” development paradigms for banking solutions. Today, with the rapid changes in technology ar…
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2024/03/21
The imperative for financial institutions (FIs) to continuously add new technology capabilities drives them to evaluate existing systems to mode…
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2024/03/21
Bank of Montreal (BMO) completed the acquisition of Bank of the West in February 2023 and converted and migrated almost two million customer rel…
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2024/03/21
In 2018, Deutsche Bank embarked on CRAFT, a five-year program to overhaul the technology underpinning the bank’s global credit risk function, a…
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2024/03/20
Integrating and embedding financial data into ERP and TMS systems lies at the heart of a modern treasury organization. However, outdated legacy…
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2024/03/20
Global trade has been a driving force behind human civilization, fostering connections between cultures and regions through commerce. Banks play…
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2024/03/19
Super-regional banks in the US face a unique, competitive environment. They compete not only with the largest global money center banks but also…
Research related to TCS BaNCS for Reinsurance
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2024/10/10
Snap polls reflect questions posed by members of the Celent Executive Panel, a group of C level executives at insurance carriers. This comes fro…
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2023/10/05Recorded on October 5, 2023. Watch this webinar on ceded reinsurance administration systems to gain valuable insights into the latest trends an…
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2023/07/10The core business of insurance companies is to manage the risks from the policies that they write. Often, to reduce their overall risk profile,…
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2022/06/25Reinsurance plays an important role in spreading risk exposures held by an insurer, and we are seeing reinsurers’ business solutions for both in…
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2021/04/13It’s spring here in northern California. The trees are blooming; the bulbs are up; the roses have budded out. My garden is looking particularly…
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2018/07/09In January this year I posted a blog, If 2017 Was the Year of Insurtech, Will 2018 be the Year of the Insurance Platform? The blog pointed out t…
Research related to TCS BaNCS for Property and Casualty Claims Administration Systems
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2024/10/10
Snap polls reflect questions posed by members of the Celent Executive Panel, a group of C level executives at insurance carriers. This comes fro…
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2024/06/27
Following up on Celent's biennial EMEA claims admin system review, Celent asked for customer references to get feedback on vendors and systems. …
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2024/06/26
Following up from Celent's biennial North American claims admin system review, Celent asked for customer references in order to get feedback on…
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2024/05/16
About the Showcase Gen AI is the hottest topic in the industry right now. Insurers are reaching out daily with questions and the need for advice…
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2024/04/25
Throughout history, insurance has provided protection to countless individuals and businesses. However, alongside the insurance industry, insura…
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2024/03/20Welcome to a future where the claims journey is as seamless as it is empowering. Markerstudy Insurance Services Limited embarked on a transforma…
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2024/03/08This week, we at Celent released new and updated P&C claims systems vendor reports for four regions: North America EMEA Latin America Asia-Pac…
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2024/03/07Claims, often referred to as the "moment of truth," represent the fulfillment of an insurance policy's promise to indemnify and make customers w…
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2024/03/06Claims, often referred to as the "moment of truth," represent the fulfillment of an insurance policy's promise to indemnify and make customers w…
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2024/03/06Claims, often referred to as the "moment of truth," represent the fulfillment of an insurance policy's promise to indemnify and make customers w…
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2024/03/06Claims, often referred to as the "moment of truth," represent the fulfillment of an insurance policy's promise to indemnify and make customers w…
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2024/03/04Housing hunters are familiar with the axiom, "Size, location, price: Pick one." But for insurance system replacements, sights are usually set hi…
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2023/06/04
Insurers have been modernizing their legacy systems, increasing their presence in cloud, and finding innovative use cases driven by emerging tec…
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2022/03/29Celent profiles 23 core claims systems that are in use or being marketed for use in North America There are sixteen systems that qualified for C…
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2022/02/11The burgeoning Insurtech space is vast and rapidly evolving. It is difficult for even the savviest of industry insiders to keep up with today’s…
Research related to BPO Services
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2024/09/26In recent years, the P&C insurance industry has witnessed a significant transformation driven by technological advancements. As insurers strive…
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2024/06/10Third Party Administration (TPA) and Business Process Outsourcing (BPO) offers insurers a way to reduce costs, address operational issues, and c…
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2024/06/10Business Process Outsourcing (BPO) and Third Party Administration (TPA) services offer insurers a way to reduce costs, address operational issue…
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2024/04/30Since 2011, Celent has been analyzing and evaluating BPO vendors. The 16 global vendors iprofiled in this report business process outsourcing (B…
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2024/04/30Since 2011, Celent has been analyzing and evaluating BPO vendors. The 19 global vendors profiled in this report offer business process outsourci…
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2023/03/08
Are emerging technologies providing cost-effective options to manage closed block policies? In the L&A insurance segment, millions of policies t…
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2021/09/08"Conversions are very risky, painful and are never on-time!"— is this old saying still true for insurance system conversions? Apparently, there…
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2021/08/17The market for IT services continues to grow as providers rebound in the wake of the pandemic. On one end, commoditization of technology infrast…
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2021/05/14The 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…
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2021/04/30COVID-19 presented the global life insurance industry with challenges that have turned into opportunities. New societal realities and customer n…
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2021/04/04The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
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2021/04/03The IT services market is dynamic, and vendors active in this market help insurers capture the value of relevant technologies to enhance their d…
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2021/03/31Insurance BPO (Business Process Outsourcing) sector has seen significant growth in the past owing to increasing customer demands and operational…
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2021/03/31Insurance BPO (Business Process Outsourcing) sector has seen significant growth in the past owing to increasing customer demands and operational…
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2021/03/10This Model Bank report uncovers how Discover Financial Services quickly adjusted to the challenges the pandemic created by enabling its agents t…
Research related to BFSI IT Services
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2024/09/26
In recent years, the P&C insurance industry has witnessed a significant transformation driven by technological advancements. As insurers strive…
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2024/09/26The life insurance industry has witnessed a significant transformation driven by technological advancements in recent years. As insurers strive…
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2024/07/26After seven days, the dust is finally settling on the CrowdStrike outage. While some companies are still struggling to recover from the incident…
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2024/07/17
Risk management technology spending is accelerating worldwide, driven by a combination of regulatory change, technological development, and macr…
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2024/06/10
Third Party Administration (TPA) and Business Process Outsourcing (BPO) offers insurers a way to reduce costs, address operational issues, and c…
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2024/06/10
Business Process Outsourcing (BPO) and Third Party Administration (TPA) services offer insurers a way to reduce costs, address operational issue…
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2024/04/30
Since 2011, Celent has been analyzing and evaluating BPO vendors. The 16 global vendors iprofiled in this report business process outsourcing (B…
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2024/04/30
Since 2011, Celent has been analyzing and evaluating BPO vendors. The 19 global vendors profiled in this report offer business process outsourci…
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2024/03/21
The imperative for financial institutions (FIs) to continuously add new technology capabilities drives them to evaluate existing systems to mode…
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2024/03/19Raiffeisen Bank International, a well-established European bank operating across multiple markets, has been able to rapidly shift from an on-pre…
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2024/02/08
Just as COVID-19 provided the “aha” moment for accelerating digital transformation in the insurance industry, generative AI (Gen AI) is the “aha…
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2023/09/26While the start of the decade was defined by the pandemic, the banking industry landscape over 2022-2023 has been driven by the growth of intere…
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2023/09/11
For the first several years of the insurtech movement, the conventional wisdom from the tech-industry founders looking to disrupt insurance was…
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2023/03/29
The science of artificial intelligence is complicated. The technologies or sub domains that make up AI such as machine learning and natural lang…
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2023/03/08Insurance distribution is an increasingly important point of discussion among senior executives at insurers. With the emergence of insurtech cam…