Accenture

Why ISO 20022 is a seismic shift for payments

Accenture

There’s no two ways about it: ISO 20022 is a complex new standard for financial services firms of every description. Inside that complexity lie some operational hurdles for payments players—but also tremendous opportunities.

Request to Pay—a growing global trend in payments

Accenture

In my last post, I talked about the important role Request to Pay (RtP) will play in the future of payments—it will , bring flexibility to payers, cost reduction and efficiency to billers, and a huge value opportunity to financial services providers that have an Open Banking infrastructure in place.

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Open Banking—Request to Pay’s potential to deliver huge value

Accenture

With COVID continuing to impact economies and incomes across the world, there is a need for flexible and transparent payments solutions that put both payer and payee in control of their payments.

Seizing the $300 Billion Opportunity in Payments

Accenture

Many banks today are not seeing the returns on their investments in payments modernisation they hoped for. This is often due to a reactive, compliance-driven, piecemeal approach that makes it harder to adopt new capabilities.

Realizing the Benefits of Automated Machine Learning

How are organizations using machine learning and artificial intelligence (AI) to derive business value? Renowned author and professor Tom Davenport explains the rise of automated machine learning, its benefits, and success stories from businesses that are already using it.

Financial Services firms turn to data ethics to manage digital risks

Accenture

In 2019, the California-based lender loanDepot made headlines when it managed to offer an end-to-end digital mortgage that closed in just 8 days, more than 80 percent faster than the 45-day industry average.1

Outside-in lens—four key principles for the future of banking

Accenture

So far in this blog series we’ve talked about how an outside-in approach to banking can help Australian banks convert the current threats and challenges into opportunities. We believe this bold approach to shaking the status quo will be guided by four key principles: 1. Be married to nothing.

How can high human care boost your bank’s performance?

Accenture

What are the best indicators of someone’s potential at work? If you said education, tenure, job level, industry, geography or company size, you’d be partly right. Our research found that these factors account for 9 percent of someone’s work potential. Nine percent is good.

The Challenge and Impact of ISO 20022 for banks

Accenture

The global adoption of ISO 20022 is the most far-reaching and widely underestimated development in payments today. It’s not shocking that the transition hasn’t attracted the attention it merits. ISO 20022 is complicated and can seem downright mysterious even to payments specialists.

Four keys to boosting digital fluency (and bonus: becoming more agile)

Accenture

As I introduced in my previous blog post, digital fluency is essential for banks’ performance in the near-term (to support remote and hybrid working) and long-term (to unlock the full benefit of digital transformation). But what does it look like in practice?

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The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

A Closer Look: What CBDC means for banks and non-banking firms

Accenture

Central bank digital currency (CBDC) enables new transactions in central bank money and would require banks to adjust and expand their intermediation services. Central bank money is the most important money in any given currency area.

Four balancing acts that will unlock commercial banks’ SME business

Accenture

The small-to-medium enterprise (SME) market is broad and often needs hand-holding, making it a difficult market for banks to serve profitably. COVID-19 complicates this reality, as SMEs need banks more than ever.

Europeans are skeptical about their banks. Here’s what the data tells us

Accenture

After surveying over 47,000 consumers across the globe, our recently released 2020 Banking Consumer Study surfaces important consumer trends, behaviours and beliefs. As the lead for Strategy and Consulting in Europe, I wanted to narrow the scope of our research to talk specifically about the region.

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Building a benefits case for ISO 20022 migration

Accenture

The time is now for every player in payments to begin their ISO 20022 migration, if it’s not already underway. As discussed in my previous post, the standard’s tipping point is rapidly approaching.

How to Choose an AI Vendor

This report explores why it is so challenging to choose an AI vendor and what you should consider as you seek a partner in AI.

CBDC for Retail, Wholesale and International Payments

Accenture

Central bank digital currencies (CBDCs) would help advance the digitalisation of payments and the economy as a whole. Retail, wholesale and international payments using CBDC would expand choices, enabling more diversified payment systems and greater autonomy for the central bank.

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Hone Your Edge: Why Digital Fluency is Key to Banking Performance

Accenture

Which musical artist has had the longest-running streak at the top of the Billboard Hot 100 list? If you guessed The Beatles, Madonna or Prince, guess again. The answer: Lil Nas X. The singer-rapper holds the record with “Old Town Road.”

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Protected: Challenges and Opportunities in Banks’ Cloud Migration

Accenture

There is no excerpt because this is a protected post. The post Protected: Challenges and Opportunities in Banks’ Cloud Migration appeared first on Accenture Banking Blog. Uncategorized cloud

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How to determine cloud strategy and get the most value

Accenture

In my previous post, I wrote about the changing dynamics in the cloud conversation. But a conversation is just that—a conversation. It’s meaningless if banks don’t take action. In this post, I will outline the considerations for a successful cloud strategy, potential value and overall challenges.

B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

What happens when talent strategy has Board oversight?

Accenture

COVID-19 has upended so much, from our daily lives (hello, home schooling) to long-held beliefs about how business should work. Historically, workforce and talent strategy has been siloed within the HR function.

Dimensions of disruption in payments

Accenture

In the first post in this series, we looked at the major trends driving disruption in payments today. This time, we’ll look at how these trends will actually impact the industry by geography and by payments instrument.

CBDC and Technology: Enabling Blockchain to Drive Change

Accenture

Central bank digital currency (CBDC) represents a potential digital sea change in the daily function of finance. The key innovation is the adoption of a value-based, or token-based, approach to money.

Digital identity in the post-COVID era – how Open Banking can help

Accenture

Even before the pandemic, digital identity—various forms of authentication and identification such as passwords, pins, facial recognition, etc.—had had become an integral part of our everyday life.

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MLOps 101: The Foundation for Your AI Strategy

Machine Learning Operations (MLOps) allows organizations to alleviate many of the issues on the path to AI with ROI by providing a technological backbone for managing the machine learning lifecycle through automation and scalability.

How Can HR Boost Your Bank’s Performance?

Accenture

Even before the COVID-19 pandemic, the nature of work was changing.

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How did the pandemic change how people learn?

Accenture

From COVID-19 to accelerating cloud change, remote working to diversity, 2020 was a stress test and accelerator of change. Organizations are working to create more inclusive teams, embark on ambitious paths for new skilling, and transform physical and digital workplaces.

Instant Payments: Changing the Middle East payments landscape

Accenture

This thought leadership piece looks at Instant Payments in the Middle East – how this innovative trend being implemented in the region and elsewhere is changing the payments landscape, and what banks should do to fully leverage its value.

Emerging tech in equipment finance: Hype or reality?

Accenture

When it comes to whether emerging technologies like artificial intelligence (AI) and blockchain are practical for equipment finance, it depends on the application. That was the key takeaway from the recent ELFA 2020 Business Live!

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.

To boost performance, take care of people: Five ways to do it

Accenture

In my last blog post, I looked at findings from Accenture’s Care To Do Better research. Key finding: Organizations that adopt a high human touch can unlock 64 percent of their people’s potential and boost business performance.

Take care of your people to take care of your bank

Accenture

Middle market banks have done so much to help their employees during the pandemic. They’ve reskilled branch workers to process PPP loans. They’ve helped call center staff transition to remote work. They’ve supported employee health and well-being. But none of this surprises me.

Three strategies to profit from payments disruption

Accenture

The world of payments is in turmoil, with no end in sight. In the previous posts in this series, we’ve detailed the trends driving this disruption, and zoomed in on the rapid change around the world and by payments instrument.

How to build future-ready banking operations beyond the pandemic

Accenture

So far in this blog series, I’ve talked about how COVID-19 is amplifying banks’ need for innovation and the key technology trends that will shape the near future. The long-term challenge is to set banks up to successfully rebuild and recover when the worst of the pandemic is over.

10 Keys to AI Success in 2021

Capitalizing on the incredible potential of AI means having a coherent AI strategy that you can operationalize within your existing processes. Learn how organizations are overcoming hurdles and realizing the enormous rewards that AI can bring to any organization.