Accenture

APRIL 24, 2023

Banks have the opportunity of a lifetime. And if they don’t act now, it’s going to slip from their grasp. I’ve just returned from speaking with senior bank executives around the US and Europe. The topic of our talks? One of the many pressing issues facing commercial banks today: sustainable credit—using banks’ capital resources to… The post Banks can no longer stall on sustainability appeared first on Accenture Banking Blog.

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Resources Capital US Lending 329

Accenture

APRIL 5, 2023

There’s a lot of buzz about next-gen payments rails globally, but where does North America stand when it comes to adopting these new options? Accenture’s recent consumer payments research—which you’ll find in our report, Payments gets personal: strategies to stay relevant—revealed that North Americans have a clear preference for payment methods they trust, from providers… The post Americans value trust above all in payment options appeared first on Accenture Banking Blog.

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Payments America Strategy Report 369

Accenture

MARCH 27, 2023

Having pulled through the Covid pandemic, the unravelling of international supply chains and a global energy crunch, commercial banks must now grapple with a spike in interest rates and the collapse of some high-profile peer institutions. Rarely have I seen the banking industry in such flux and uncertainty. How should banks respond? My advice: Pause… The post Commercial banks must now focus on fundamentals appeared first on Accenture Banking Blog.

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Industry Banking Trends Trends 386

Accenture

MARCH 23, 2023

As consumers experience economic turbulence due to inflation and rising interest rates, they want to be able to pay anywhere, anytime, anyhow. For banks to stay ahead of an increasingly complex payments game and meet these evolving consumer expectations, they will need to innovate and seize emerging opportunities. One opportunity we’re watching closely is buy… The post BNPL: Strategies for banks to get it right appeared first on Accenture Banking Blog.

Strategy 195

Strategy Meeting Innovation Payments 195

Accenture

MARCH 22, 2023

In the current edition of the Banking Cloud Altimeter, we dig into the results of our 2022 Banking Cloud Rotation Index survey, which follows the progress of nearly 100 banks on their journey to cloud. Though the progress they have made over the past year is impressive, there still seems to be a shortage of… The post Banks need a unified vision for true cloud success appeared first on Accenture Banking Blog.

Survey 195

Survey 195

Accenture

MARCH 20, 2023

The COVID-19 pandemic increased the tempo of change in consumer behaviors and expectations. Payments, characteristically, is at the forefront of the change. In “Payments gets personal—strategies to say relevant,” our report on an Accenture survey of 16,000 payments customers across 13 different countries, we revealed how the return of meaningful interest rates is interacting with… The post Four strategies for consumer payments growth in 2023 appeared first on Accenture Banking Blog.

Strategy 420

Strategy Payments Survey Report 420

Accenture

NOVEMBER 25, 2022

It’s been a busy conference season, and one of my highlights was attending Sibos in Amsterdam, where more than 10,000 leaders from banks and financial institutions around the world gathered to discuss the changing financial landscape—and change was certainly top of mind for those of us in payments. Conferences, for me, are about so much…. The post Sibos 2022: Payments players partner for success appeared first on Accenture Banking Blog.

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Payments Conference US Trends 195

Accenture

NOVEMBER 6, 2022

This year’s Sibos conference in Amsterdam lifted the lid on how banks are grappling to become more sustainable and advance the fight against climate change. And what it revealed is tremendously encouraging. The conference hosted several presentations and discussions about environmental, social and governance (ESG) issues, ethical investing and energy transition.

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Conference 260

Accenture

NOVEMBER 6, 2022

Every day we see new reports of companies joining the metaverse. As bulky virtual reality (VR) headsets become a thing of the past, replaced by more comfortable, sleeker models, customers will come to expect many of their online interactions with companies to take place in the metaverse. But what does that mean for auto and…. The post Six ways to boost (or start) your metaverse presence appeared first on Accenture Banking Blog.

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Online Report Company 195

Accenture

NOVEMBER 3, 2022

A recent Accenture survey found that embedded finance offerings to small and medium-sized enterprises could increase global bank revenues by as much as US$92 billion by 2025. Embedded finance offers banks a huge opportunity to grow their businesses. I’ve asked my colleague Chris Jaggard to share his insights into this opportunity. Chris is the Commercial….

Survey 307

Survey US Trends Digital Banking 307

Accenture

OCTOBER 5, 2022

ISO 20022 is probably the biggest payments change of the last 30 years—if not more. It’s also no longer news. The industry has known for years that it’s coming. In fact, some institutions began their migrations over a decade ago. But as industry wide launch dates for different parts of the standard start to come…. The post 5 ways ISO 20022 could rewrite the future of payments appeared first on Accenture Banking Blog.

Payments 364

Payments Industry Innovation 364

Accenture

OCTOBER 4, 2022

There have been impressive technological advances in banking systems in recent years. But banks can’t just purchase new software and expect it to magically improve their business—the product is only the beginning. Careful implementation and a culture of innovation and true transformation are needed to make the most of any investment in replaced or upgraded….

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Innovation Software System Technology 221

Accenture

SEPTEMBER 28, 2022

I’ve been hearing a lot about the metaverse and how it’s going to shake up all sorts of markets, and I began to wonder what it will mean for the auto and equipment finance sector. Here in the US, the Today Show recently brought the metaverse to life in a segment every day for a…. The post What is the metaverse and why should you care now? appeared first on Accenture Banking Blog.

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US Marketing 320

Accenture

SEPTEMBER 26, 2022

As Yogi Berra once famously said, there is no difference, in theory, between theory and practice— but in practice, there is. That’s certainly true for tech transformation projects at banks. Most banks by now are well aware of the benefits of moving their tech stacks into the cloud. Most, likewise, are now a few…. The post Our top 10 cloud transformation lessons for banks in 2022 appeared first on Accenture Banking Blog.

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Accenture

SEPTEMBER 23, 2022

Central bank digital currency (CBDC) has met with sustained skepticism, in particular from certain financial institutions. Opponents fear it may disrupt the banking system and undermine existing banks’ business models. Proponents argue that CBDC will equip the financial system with new capabilities and encourage diversification in payments. We believe the net effect of a CBDC….

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System Payments cryptocurrency 195

Accenture

SEPTEMBER 21, 2022

When banks move past the status quo and adopt an “everything is possible” attitude, they have the power to do truly transformative things. This is evident each year at the Qorus-Accenture Banking Innovation Awards, formerly the Efma-Accenture Banking Innovation Awards. The sheer diversity of the entries testifies to the creative thinking that’s happening at leading-edge….

Innovation 195

Innovation 195

Accenture

AUGUST 17, 2022

The drive for sustainability will force banks to radically change their relationships with many of their key corporate customers. They’ll need to gain a deeper understanding of their customers’ businesses and develop greater insight into the workings of their supply chains. Furthermore, they’ll have to shift from being mainly sources of finance to instead becoming….

Maine 221

Maine 221

Accenture

AUGUST 15, 2022

Is it fair to describe the workplace culture at the typical bank today as a competitive disadvantage? That depends on each bank’s particular situation. But Accenture’s cross-industry research, discussed earlier in this blog series, has found that the workplace culture at many banks suffers by comparison to many other organizations. This is a significant drawback….

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Comparison Industry 300

Accenture

AUGUST 3, 2022

Muscle memory is the enemy of innovation. When it comes to transformations, process optimization is often under-valued by auto and equipment finance organizations as they implement a modern core or move their data and applications to the cloud. Adam Little and I think that’s a mistake. You must let go of old habits and challenge…. The post How old habits are the 4-letter word in your growth progress appeared first on Accenture Banking Blog.

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Innovation Data System 400

Accenture

AUGUST 2, 2022

Flat economic growth and rising competition are forcing banks in growth markets to step up investment in digital technologies. They’re eager to improve efficiency, enhance the user experience and create new business opportunities. But many banks are wary of committing themselves to an extensive digital transformation of their businesses. They view such large-scale change as….

Marketing 372

Marketing User Experience Technology Digital Banking 372

Accenture

AUGUST 1, 2022

I believe the “human connection” of middle market banks has always set them apart. This focus isn’t just about how banks treat their customers. It’s also about how they treat their employees—and how that translates into a positive employee experience that makes a bank a great place to work. The power of human connections at…. The post How banks commit to being great places to work appeared first on Accenture Banking Blog.

Marketing 284

Marketing 284

Accenture

JULY 4, 2022

Our first metaverse post attracted a lot of attention and prompted the Ultimate Guide to Banking in the Metaverse. These posts discussed the first step in moving to the metaverse: educating your teams and stakeholders. Now, with more banks looking to understand how they can drive growth and value by entering this new frontier, we…. The post How banks can enter the metaverse with purpose appeared first on Accenture Banking Blog.

Digital Banking 342

Digital Banking Technology 342

Accenture

JULY 4, 2022

Many organizations still view customer service as a cost of doing business. As a result, they focus mostly on improving the speed and efficiency of customer care. But about one in five are taking a different approach to customer service: They view it not as a cost center but as a value creator. We have…. The post Three ways for banks to re-imagine service—and grow sales appeared first on Accenture Banking Blog.

Customer Experience 221

Customer Experience Study 221

Accenture

JUNE 23, 2022

For the past five years, banks have transformed by, in part, focusing on bank-to-bank mergers. However, the surge in banking M&A will shift from traditional acquisitions as banks clamor for disruptive technology and differentiated client experiences to defend profit pools that are under attack. In a soon-to-be-published study of banking and payments M&A and private….

Fintech 338

Fintech Study Technology Payments 338

Accenture

JUNE 22, 2022

The technology behind lending systems has advanced significantly in recent years, and commercial banks are keen to take advantage of those advances and improve their processes to unlock the value that modern systems can provide. Over the past five years, a majority of large banks have either replaced their servicing system or are considering an…. The post How to manage risk for a successful implementation appeared first on Accenture Banking Blog.

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How To Management Lending System 387

Accenture

JUNE 22, 2022

Banks in Europe need to prepare for the biggest set of regulatory changes since the aftermath of the 2008 global financial crisis. They’ll soon have to comply with sweeping sustainability rules drafted by national governments and financial services regulators. The impact of the proposed sustainability requirements will be one of the major forces shaping the….

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National Regulation Trends 396

Accenture

JUNE 23, 2022

The top 15 global banking giants are generating their combined revenues and profits at a pace that’s well ahead of the average performance of their smaller competitors. What’s more, these big “winning banks” are harnessing their vast investments in digital technologies to help accelerate their growth. The success of these global giants provides valuable lessons….

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Technology Digital Banking 298

Accenture

JUNE 21, 2022

It’s fantastic that banks are taking the lead in the fight against climate change. Over 50 banks from across the world have pledged to reach net-zero carbon emissions by 2050. And many more are set to follow. Banks can become stewards of the global economic transformation that’s protecting the future of our planet. But…. The post Six steps to help banks reach net-zero appeared first on Accenture Banking Blog.

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Accenture

JUNE 16, 2022

Ask any school-leaver what profession they want to enter, and banking is unlikely to appear on their short-list. The banking industry has an image problem among job-seekers. And it’s worsening an increasingly severe shortage of talent. The scramble for talent is one of the Accenture Banking Top 10 Trends for 2022. Banking executives in Europe…. The post Banks plot new ways to win the scramble for talent appeared first on Accenture Banking Blog.

Trends 376

Trends Industry 376

Accenture

MAY 18, 2022

A version of this piece also appears on Think with Google. How strong is the connection between the CFO and CMO in banking’s C-suite? In this time of incredible change and evolving customer expectations, this partnership is critical for banks’ growth. The pandemic has been a beneficial tipping point for the banking industry as it…. The post How bank CFOs and CMOs can partner to drive growth appeared first on Accenture Banking Blog.

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Google Industry Customer Experience 218

Accenture

MAY 15, 2022

Let’s face it: my previous post on workplace culture in banking was a bit gloomy. But the data is unequivocal. Multiple Accenture cross-industry studies have found that, on an industry level, banking struggles more than it should to attract, recruit and retain talent. That would be a major concern at any moment, but it’s particularly…. The post Culture change as the key to success in banking’s future appeared first on Accenture Banking Blog.

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Study Industry Data 375

Accenture

APRIL 27, 2022

In this series of Banking Cloud Altimeter conversations, we’ve discussed the challenges that banks face in their journey to cloud, and the shift in culture that can help them maximize the value they get from their transition. In this post, we’re focusing on core workloads. Core systems are both the engine and the heart of…. The post Smart banks will move their core to cloud now appeared first on Accenture Banking Blog.

System 195

System 195

Accenture

APRIL 26, 2022

Environmental, social and governance (ESG) ratings are essential for banks and the companies they fund. But too often these sustainability assessments are opaque and inconsistent. Now, regulations that would improve the transparency of ESG ratings have just moved closer. The International Regulatory Strategy Group (IRSG), in the UK, has declared its support for the regulation….

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Regulation Strategy Groups Company 402

Accenture

MARCH 29, 2022

Attending the awards ceremony last October for American Banker’s Most Powerful Women in Banking was an unforgettable experience. Not only was this the first in-person event I’d attended in months; more importantly, it was a celebration of how far women have come in banking. A passion for making a difference So you can imagine how…. The post Why banks need to tap into the power of belonging appeared first on Accenture Banking Blog.

Marketing 329

Marketing 329

Accenture

MARCH 29, 2022

The big players in commercial banking are making major investments in technology to quickly ramp up their digital transformation and streamline their processes. That’s all very doable for banks with deep pockets—but what about the mid-sized banks? As we identified in our Commercial Banking Top Trends in 2022 report, the farther we get into the…. The post How can mid-sized banks compete in the big leagues?

Trends 254

Trends Technology Report Banking Trends 254

Accenture

MARCH 27, 2022

The move to digital has dominated the conversation about commercial banking in recent years. That conversation is far from over, but as we reveal in Accenture’s new report, Commercial Banking Top Trends in 2022, banks are beginning to realize that reaping the benefits of their digital technology investments will depend on meaningful connections with people:….

Banking Trends 256

Banking Trends Trends Technology Report 256

Accenture

MARCH 21, 2022

There’s a buzz in the payments industry following Apple’s announcement that it will enable “tap on phone” on its devices. Let’s take a closer look at this opportunity and why everyone is talking about it. What is it? Tap on phone instantly turns a merchant’s smartphone or tablet into a contactless point-of-sale (POS) terminal that…. The post Is “tap on phone” the next big thing in payments?

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Payments Industry 317