Celent Model Bank 2016, Part IV: Case Studies in Corporate Payments and Infrastructure Modernization

by Gareth Lodge, April 13, 2016
Case Studies
Global

Abstract

The vision for Celent’s Model Bank research, now in its ninth 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 the three questions below.

Every year Celent suggests five to eight categories and invite banks to nominate their technology initiatives. Celent analysts review all nominations and recognize a number of them, up to four per category, with a Model Bank award.

In 2016, Celent accepted nominations in seven categories and awarded 18 initiatives. The case studies of winning initiatives are profiled in a seven part report series published today:

  1. Digital Banking Transformation
  2. Omnichannel Banking
  3. Digital Payments and Cards
  4. Corporate Payments and Infrastructure Modernization
  5. Cash Management and Trade Finance
  6. Security, Fraud, and Risk Management
  7. Legacy and Ecosystem Transformation

In Part IV, Celent profiles two award-winning initiatives in Corporate Payments and Infrastructure Modernization:

  • Bank of China’s Global Unified Payments Platform
  • CBW’s Infrastructure Service Extension

To some, all the exciting things seem to happen in retail payments, and indeed, there are some very interesting winners in that category. Yet we mustn’t forget that payments could be primarily considered about the flow of money to and from corporates. In a typical market, almost 75% of the total volume starts or finishes with a business. It should come as no surprise then that the Corporate Payments Model Bank section received a considerable number of entries, but was hotly contested as well. There were numerous entries contesting for the overall winners slots, and strong entries across the board.

“Perhaps the one thing that unites all banks of whatever type or size is payments,” says Gareth Lodge, a senior analyst with Celent’s Banking practice and author of the report. “The winners this year equally demonstrate that innovative projects can be initiated by banks of all sizes as well. Furthermore, while payments is a collaborative, standards-based industry, it is still very possible to do something that can be transformative for just that bank.”

Nominations for Model Bank awards were accepted in late 2015. The Celent Banking team selected winners based on business benefits, degree of innovation, and technology or implementation excellence. Each Model Bank winning initiative is presented as a detailed case study within the report, including descriptions of business drivers, solutions, success metrics, and future plans.

This 28-page report contains two Celent Model Bank case studies, five tables, and five 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
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

3

 

Model Bank Overview

3

 

Summary of Model Bank Award Winning Initiatives

5

Key Themes in Corporate Payments and Infrastructure Modernization

9

Case Studies in Corporate Payments and Infrastructure Modernization

11

 

Bank of China: The Global Unified Payment Platform

11

CBW: Infrastructure Service Extension

16

Conclusion

22

Leveraging Celent’s Expertise

23

 

Support for Financial Institutions

23

 

Support for Vendors

23

Related Celent Research

24

Sign in to download reports and access personalized information