Celent Model Bank 2015, Part 5: Case Studies of Payments Innovation in Banking

by Gareth Lodge,  Zilvinas Bareisis, March 23, 2015
Case Studies


The vision for Celent’s Model Bank research, now in its eighth year, is to spotlight effective uses of technology in banking. The approach that Celent takes is to seek examples of best practices in technology usage which, in aggregate, would answer these three questions.

These examples span a five part report series:

In Part 5, Celent profiles four innovative initiatives in Payments Innovation and emerging technology.

  • ANZ: International Payments Transformation
  • BBVA: BBVA Wallet
  • Citi: CitiConnect ERP Integrator
  • Union Bank of the Philippines: Mobile Money Cash Management

Bankers must not only modernize, but transform, their internal systems and the ways in which they interact with a vast web of customers, colleagues, counterparties, and regulators. Doing so is no longer optional. Innovation is now an imperative in financial services.

“Most financial institutions agree with this statement,” says Gareth Lodge, a senior analyst with Celent’s Banking practice and coauthor of the report. “But viewing innovation as critical and delivering innovative, game-changing initiatives are two different things. This has been traditionally very true in payments, when payment operations are mission critical."

Nominations were accepted in late 2014, and the Celent Banking team selected winners based on degree of innovation, degree of difficulty, and business benefits provided. Each Model Bank winning initiative is presented as a detailed case study within the report, including detailed descriptions of business drivers, technology environments, and quantitative success metrics. Lessons learned are proposed at the end of the report.

This 36 page report contains four Celent Model Bank case studies, five tables, and 10 figures.

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

Media Contacts

North America
Michele Pace
Tel: +1 212 345 1366

Europe (London)
Chris Williams
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary



Key Research Questions





Summary of Model Bank Components


Innovation in Payments


Case Studies in Payments Technology



ANZ: International Payments Transformation



BBVA Wallet



Citi: CitiConnect ERP Integrator



Union Bank of the Philippines: Mobile Money Cash Management




Leveraging Celent’s Expertise



Support for Financial Institutions



Support for Vendors


Related Celent Research


Sign in to download reports and access personalized information