O2 wins Celent Business Model Innovation Award

Published on 23. April 2019
Category:

High customer focus convinces:

O2 Banking wins international Celent Model Bank Award

 

Telefónica Germany has won a Celent Model Bank Award for the category Business Model Innovation with O2 Banking. The international award from Celent, a global financial services research and advisory firm, recognize the best practices of technology usage in different areas critical to success in banking. O2 Banking was able to convince through its high customer focus and the unique bonus model.

For the twelfth time, the best initiatives in banking received the international Celent Model Bank Award in New York. In the Business Model Innovation category, for thinking creatively about banking and delivering a differentiated proposition to the customer.

"We are very proud that with O2 banking we were able to prevail against our international competitors. This award confirms that we offer our customers mobile freedom with innovative solutions and support them in their digital everyday lives," says Markus von Böhlen, Director Devices, Trading & Digital Life at Telefónica Deutschland and responsible for O2 Banking.

O2 Banking is among the best in the industry

Nominations are submitted by financial institutions and undergo a rigorous evaluation process by Celent analysts. Celent judges submissions on three core criteria: demonstrable business benefits of live initiatives; the degree of innovation relative to the industry; and the technology or implementation excellence.

Zilvinas Bareisis, Senior Analyst at Celent: "The Model Bank Awards recognize how banks are using technology to change the face of banking. These banks should serve as an inspiration to others looking for strong examples of best practice implementation that will have a truly meaningful impact on business results and the industry overall. Telefónica Germany clearly demonstrated this with O2 Banking".

Customer focus convinces

For the best digital customer experience, Telefónica Deutschland combines its expertise in mobile communications with the expertise of Fidor Bank. The combination of customer focus, a unique bonus model and the continuous development of O2 Banking convinced the jury.

O2 Banking is a fully-fledged checking account with a mobile-optimized user experience and has already received several awards. The bank account, including a Debit Mastercard, is free of charge and open to everyone. It offers, for example, transfers by mobile phone number and extensive security features such as push notifications. Depending on how they use O2 Banking, O2 customers also receive a monthly high-speed data volume. O2 Banking is implemented in cooperation with Munich-based Fidor Bank AG.

Download the Celent Case Study

Everything you need to know about the making of O2 banking powered by Fidor is in this case study.