Accenture

Pragmatists: Go on, convince me

Accenture

Accenture’s ground-breaking 2019 Global Financial Services Consumer Study has seen four mindsets emerge from the data: Pioneers, Sceptics, Traditionalists and Pragmatists. In this series of blog posts, we’ll look at each type in the Australian context.¹

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Learning to live with PSD2: reducing customer journey friction

Accenture

Guest bloggers Philip Cooney and Gaurav Bansal explore the pain points around PSD2 and how banks are trying to reduce friction for their customers. A few weeks ago, I (Phil) submitted my weekly grocery order and set off to meet a friend for dinner. I expected to hear no more about it until my order….

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Traditionalists: Not technophobes, just keen on human contact

Accenture

Accenture’s ground-breaking 2019 Global Financial Services Consumer Study has seen four mindsets emerge from the data: Pioneers, Sceptics, Traditionalists and Pragmatists. In this series of blog posts, we’ll look at each type in the Australian context.¹

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Lenders, step up to true digital mortgage or go home.

Accenture

Serena Williams has 23 Grand Slam singles titles to her credit and is the most successful tennis player—woman or man—of the Open era. Throughout her 24-year professional career, she’s been known for exceptional comebacks and remarkable determination.

Sceptics: Big numbers, tough crowd

Accenture

Accenture’s ground-breaking 2019 Global Financial Services Consumer Study has seen four mindsets emerge from the data: Pioneers, Sceptics, Traditionalists and Pragmatists. In this series of blog posts, we’ll look at each type in the Australian context.¹

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The future of mortgage decisioning is taking shape today

Accenture

Picture the scene. You approach the average shopper on the average high street and ask them how they think a bank decides whether or not to offer them a mortgage. What’s their response? Do they dive into an animated monologue about open data access requests, Big-Data-fuelled categorisation and fine-tuned machine learning algorithms? Or do they…. The post The future of mortgage decisioning is taking shape today appeared first on Accenture Banking Blog.

To maximise customer revenues, become a “living business”

Accenture

The approach banks have taken to revenue growth in the past has largely been focused on becoming the single banking provider of all products for their customers.

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Q3 2019: US credit card issuer snapshot

Accenture

Each quarter, Ryan Douglas from the Card Issuing group reports on recent developments for the US consumer credit card sector and compiles key metrics reported by the largest US banks (spend, receivables, loss rates and returns).

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Digital investments and the growth of regional credit card issuers

Accenture

Guest blogger Tripp Gavin and Frank Martien examine the role technology investment has played in helping smaller banks grow faster than their larger counterparts. In the past 12months, U.S.

Consortium model for fintech investment: The recipe to play

Accenture

Guest bloggers Alex, Devon, Eliza and Reagan – from Accenture’s Emerging Leaders Program – wrap up their two-part series on how a consortium model can help regional retail banks keep up with the tech acquisition capabilities of larger banks.

Plumb, level and square: Check that you’re a digital bank

Accenture

The old adage in carpentry is to measure twice and cut once. Scale your project to the size of a skyscraper and 90-degree corners and true horizontal planes are critical to enduring structural integrity.

Q1 2019: US credit card issuer snapshot

Accenture

Each quarter, Ryan Douglas from the Card Issuing group compiles key metrics on US consumer credit cards, tracking spend, receivables, loss rates and returns reported by the largest US banks.

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Maximising the value in enterprise cloud adoption

Accenture

With cloud technologies promising shorter time to market, more agile delivery and lower total cost of ownership (TCO), most banks are well underway with their journey to the cloud. As a result, most have some part of their technology estate in the cloud already and are working actively to expand this footprint further still. The post Maximising the value in enterprise cloud adoption appeared first on Accenture Banking Blog.

Digital is transforming the European specialty finance industry

Accenture

What’s holding you back from modern banking operations?

Accenture

In the first of a four-part series, our team of guest bloggers will share how getting to simplified, future-ready bank operations may be more easily imagined. . Customers want and expect fast, seamless and personalized service, 24/7 across multiple channels.

Facebook’s Libra: Much more than cool technology

Accenture

With technologies such as digital currencies and blockchain gaining momentum in the banking industry, more players are looking to adopt them to improve their services and build market share. The most recent example is Facebook’s announcement of the launch of a new cryptocurrency, Libra. In technical terms, Libra is a “permissioned blockchain digital currency”. Facebook…. The post Facebook’s Libra: Much more than cool technology appeared first on Accenture Banking Blog.

North American retail payments: Position to win with five big bets

Accenture

When I look at the retail payments market, I see all the attributes that any strategist worth his salt would love: It’s large, growing, profitable and accessible.

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Five predictions for equipment finance companies in 2020

Accenture

If you are wondering what 2020 possibly has in store for equipment lending and leasing companies, here are my top five predictions based on new market and technology trends now on the horizon. The rise of the digital workforce The pivot to the future will likely bring an increase in both the digital share…. The post Five predictions for equipment finance companies in 2020 appeared first on Accenture Banking Blog. Credit Equipment Finance trends

Three challenges as we navigate the future of payments

Accenture

Payments have been an indispensable part of people’s lives for many centuries. Throughout history, we have seen significant advances from the use of leather money in ancient China, through the development of gold coins and paper notes, all the way to today’s contactless payments, which can now be initiated via smartphones and wearable devices. Whilst…. The post Three challenges as we navigate the future of payments appeared first on Accenture Banking Blog.

Why banks must reinvent programme delivery

Accenture

The face of banking is changing—our big high-street banks are now having to compete, not only with each other, but also with the growing ranks of challenger banks and other third parties. To sustain their importance to the economy and remain relevant to their customers, this means banks have no choice but to innovate and…. The post Why banks must reinvent programme delivery appeared first on Accenture Banking Blog. Uncategorized Bank Innovation Change Management Program Delivery

Banks: Digitally decouple the core to compete in an open-access world

Accenture

Guest bloggers Ben Lopez and Charlie Arthy continue their series on achieving simplified, future-ready bank operations. .

Are transaction fee economics for payment services diminishing?

Accenture

Guest bloggers Anupam Majumdar and Arnab Sinha from our European payments strategy team provide perspective on dissecting the changing revenue fundamentals of European payments.

The future of payments is cloud – and now is the time to embrace it

Accenture

Throughout history, most migrations have taken place in a series of waves and banks’ migration to cloud is no exception. The cloud journey for banking clients started a few years ago in areas such as sales and marketing, with the adoption of platforms like Salesforce and Microsoft Dynamics. The success of these applications then saw the cloud revolution spread to enterprise systems like HR and finance, using solutions such as SuccessFactors and Workday.

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Open Banking is already here. Open data is just beginning.

Accenture

Today, the vast majority in the industry have heard the term Open Banking, but what does it really mean? The answer isn’t as simple as many people might think. In the UK and Ireland, we mostly use the term when referring to regulation introduced on the back of the EU’s PSD2. Globally, however, the term…. The post Open Banking is already here. Open data is just beginning. appeared first on Accenture Banking Blog. Payments APIs Open Banking Open Data PSD2

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Hot baths and warm burritos of a reimagined payments industry

Accenture

Life in the Middle Ages in Europe was hard. The majority of people’s time was spent on the basics: hauling water from the well, chopping firewood and getting enough to eat.

Digital change outcomes impact bank performance

Accenture

In Formula One auto racing, the pole position—the front-of-the-line starting position won by the top qualifier prior to a race—is strongly correlated with first-place and top-five finishes.

Every bit counts in setting competitive equipment financing rates

Accenture

There’s an old marketing adage that says, “You’re not selling a drill. Your selling a hole.” For equipment finance companies we might revise and say, “You’re financing a hole.”.

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New credit card partnerships climb, but the composition shifts

Accenture

The credit card partnership market is off to an aggressive start in 2019, given issuers’ robust activity in the first half to try to fuel new growth amidst a leveling-off in receivables.

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News from Leasing Life

Accenture

It was our honor to represent Accenture at the 2019 Leasing Life Convention in Barcelona and facilitate the panel on data. Reflecting on this year’s event, we have seen these emerging trends: Players are going beyond their current role as financiers of the economy and actively moving into sustainability at scale. As an example, BNPP…. The post News from Leasing Life appeared first on Accenture Banking Blog. Uncategorized Banking trends Digital Transformation Europe Banking Sustainability

Five tech trends to set banks apart in the post-digital era

Accenture

Late 19th century American farmers, threatened by industrialisation, had to use new tools and techniques to innovate and survive.

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Pioneers: Innovation-hungry, but few second chances

Accenture

Accenture’s ground-breaking 2019 Global Financial Services Consumer Study has seen four mindsets emerge from the data: Pioneers, Sceptics, Traditionalists and Pragmatists. In this series of blog posts, we’ll look at each type in the Australian context.¹ The global view As you might expect, Pioneers are typically younger than the average respondent (globally, half are aged…. The post Pioneers: Innovation-hungry, but few second chances appeared first on Accenture Banking Blog.

Opening a bank account in the digital age

Accenture

Guest blogger Philip Cooney explores the techniques banks need to deploy to make it easy for customers to open a bank account in the digital age. I’m sitting in a cafe having a cup of coffee and sharing a muffin with my five-year-old, when I overhear two teenagers at the next table talking about banking, of all things. What they are specifically discussing is the Revolut account and how impressed they are with the overall customer experience and features (I’m paraphrasing a bit).

Bank consumer survey: Canter closer in step with markets of one

Accenture

A tale is told of a man riding a horse that is galloping very quickly. Another man, standing alongside the road, yells to him, “Where are you going?” ” The rider yells back, “I don’t know. Ask the horse!” ” Read the report.

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Finding high-value-adding pathways for merchant acquirers

Accenture

How merchants enable and streamline payment acceptance is now at the forefront of the shopping experience. Acquiring—once a stable and steady background business helping retailers accept and process debit and credit cards at point-of-service and remotely (such as via telephone and mail)—is now a key differentiator for businesses. The more shopping behaviors change—from in-store to…. The post Finding high-value-adding pathways for merchant acquirers appeared first on Accenture Banking Blog.

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Q2 2019: US credit card issuer snapshot

Accenture

Each quarter, Ryan Douglas from the Card Issuing group compiles key metrics on US consumer credit cards, tracking spend, receivables, loss rates and returns reported by the largest US banks. Key themes.

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Business software solution providers can capitalize on payments integrations now

Accenture

Guest bloggers Emily Boese and Rom Mascetti explore why ISVs have plenty to gain and little to lose by adding payment acceptance into their existing software and applications. Merchant acquirers and other payment service providers have long provided merchants the tools they need to process payments.

New digital tools in B2B payments

Accenture

Advances in technology and a push towards “consumerization” in business-to-business (B2B) payments is resulting in providers offering more digital tools than ever before.

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The back-office revolution: powered by the agile workforce

Accenture

Closing out their four-part series, guest bloggers Ben Lopez and Charlie Arthy discuss how banks can empower their back-office workers to add value and fuel growth. It’s a bold move, but winning banks will remake their back office into a front-line, value-adding engine that can stir growth.

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Data-Driven Banking: How Data is Changing the World

Accenture

Data has become the latest talk of the town with its potential to influence the decision-making framework in any firm. No matter which industry you are in, the new winners are the ones who can innovate and create value using a data-driven approach. Tech firms such as Google, Apple, Facebook and Amazon (GAFA) were early adopters, propelling their valuations to be 10x in comparison to banks. However, new banking challengers are quickly following in their footsteps.

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ISO 20022: A watershed moment for the payments industry

Accenture

What is ISO 20022? The payments industry is continually evolving, with change driven by various evolutionary business initiatives such as Open Banking, Real-Time Gross Settlement (RTGS) system renewal and Instant Payments. In addition, a number of revolutionary ideas have recently hit the financial services industry, including digital and cryptocurrencies, as well as distributed ledger technology and blockchain.

Three principles for success in the mass-affluent market

Accenture

In recent years, we’ve seen competition intensify across virtually all areas of the UK and Ireland banking industry. But—in my view—wealth management is one of the areas in which these competitive pressures are really reshaping the industry. This trend partly reflects the rising number of players in the market. Incumbent financial institutions are seeking out…. The post Three principles for success in the mass-affluent market appeared first on Accenture Banking Blog.

Think “bank relationship hub,” not contact center

Accenture

“We cannot direct the wind, but we can adjust the sails.” This proverb sums up the challenges facing traditional banks in the digital economy. As digitally native customers change their expectations of what their bank should provide, banks need to. Read more.

Three big challenges for banks in trade finance

Accenture

Trade finance is a dynamic, highly innovative business with multiple opportunities linked to new technologies and environmental/social/regulatory demands. In that context, I see three major challenges for banking players: Challenge one. How to gain sustainability, speed and cost out in order to expand in trade finance—particularly with the small-to-medium enterprise (SME) segment? Which partners should the bank leverage to create the optimal stack of solutions? Challenge two.