Ubiquitous Digital for Channel Banking: Global Digital Platforms Solutions Vendors, Digital Specialist Edition, 2016

by Stephen Greer, June 22, 2016
Vendor Reviews
Global

Abstract

The reality of channel preference is that consumers are opting to spread their interactions with the bank across branch, ATM, online banking, mobile, and the call center (among others). As institutions become more digitally focused they’re looking to unify the customer experience across these access points. Since a series of solutions from different vendors is increasingly hard to maintain and may offer a disjointed customer experience, banks require a digital solution that encompasses a wider range of interfaces.

Digital channels solutions providers are evolving to make a unified digital banking experience more attainable by creating a “digital banking platform.” Celent defines a digital banking platform as:

A solution that includes, at a minimum, a unified and integrated online banking and mobile banking offering under a single platform, but which often includes functionality and extensibility of the user experience to additional channels like kiosks, ATM, or branch.

These platforms aim to become more than just a single channel offering, moving toward a unified experience that operates independently of a consumer device. This “anytime, anywhere” promise of digital channels is moving closer to reality.

In the report Ubiquitous Digital for Channel Banking: Global Digital Platforms Solutions Vendors, Digital Specialist Edition, 2016, Celent examines the market for digital channel platforms. The report begins with an exploration of the market, focusing on taxonomy, state of the industry, and the evolution of platform products. The next sections dive deeper into vendor platforms and provide detailed technical specifications.

This report is one of two that will profile 16 such platforms in detail. This report focuses specifically on six vendors that specialize in digital products and services like digital platforms, digital cores, or omnichannel. The other report focuses on vendors that offer a wide array of products like payments, wealth management, etc.

“Transformation requires significant institutional and technological changes, as well as a clear view of current and proposed end state,” says Stephen Greer, analyst with Celent’s Banking Group and author of the report. “Institutions looking to remain competitive in the future will need to think about how to become digitally mature, and most will find the digital platform to be a critical factor.”

This 88-page report contains 21 figures and 74 tables.

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

Digital Banking and the Changing Digital Channels Platform

3

 

The New Business Model of Banking Is Fast Paced

3

 

Digital Platforms Are Evolving to Meet This Need

5

 

The Needs of Banks Still Vary

5

 

Banks and Vendors Need to Be Aware of Other Trends

6

Digital Platform Providers Overview

8

 

Solution Segmentation

8

 

Market Consolidation

9

 

ABCD Analysis

11

 

Summary Graphs and Tables

14

Vendor Summary

17

 

Backbase

17

 

CR2

18

 

D3 Banking

19

 

Digital Insight

20

 

eBankIT

21

 

Technisys

22

Recommendations

25

Appendix A: Extended Vendor Technical Data

27

 

Backbase

27

 

CR2

37

 

D3 Banking

45

 

Digital Insight

55

 

eBankIT

65

 

Technisys

74

Leveraging Celent’s Expertise

83

 

Support for Financial Institutions

83

 

Support for Vendors

83

Related Celent Research

84

Sign in to download reports and access personalized information