Accenture

What the rise of in-app payments means for banks

Accenture

The expectations of customers when it comes to payments have changed radically in recent years. Payments that are instant, invisible and free (IIF) have quickly become the norm, especially in certain segments of the market like airlines, fashion retail, hotels and online travel agents.

Q4 2019: US credit card issuer snapshot

Accenture

Key themes Receivables growth of 4% YoY in Q4, slightly above the 3.5% YoY growth in Q3. Purchase volume YoY growth of 7% in Q4 is lower in comparison to Q3 YoY growth by ~100 bps, and lower than Q4 2018 YoY growth by ~130 bps. Chase and Capital One continued to lead YoY purchase….

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Digital dragon: Navigating Asia’s digital banking market

Accenture

Across Asia, a revolution in payments, banking, e-commerce and services is underway. Underpinned by mobile, digital and open data, established brands and new entrants alike are redefining banking for customers who will seldom set foot in a physical branch.

Time to drive API innovation through Open Banking

Accenture

I recently had the good fortune to collaborate with Finastra on a white paper titled Corporate Banking APIs: Open for Business. As the paper points out, application programming interfaces (APIs) are starting to significantly disrupt corporate banking.

How Open Banking is catalyzing payments change

Accenture

Since the adoption of PSD2 by the European Parliament in 2015, there’s been growing momentum behind Open Banking. This is set to reach new levels in 2020, as Open Banking catalyzes innovation and efficiency across the world of payments.

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Three steps to implementing digital process automation in your bank

Accenture

Guest bloggers Richard Gillespie-Brown, Helen Bayliss and Nicholas Kitson explain how a bank’s centre of excellence can unlock customer and colleague value by overcoming hurdles to automating digital processes.

Banking on technology to power up trade finance

Accenture

Trade finance has long been of vital importance to the world economy. However, over the last few decades, its role in globalization has grown significantly.

Hindsight is 2020: The payments past shows the future

Accenture

Unless you are Nostradamus, being a prognosticator is tough business. Consultants are often accused of over-hyping the short term and underestimating the long term. With this blog, I have attempted to strike the balance between long-term trends and short-term, actionable insights. With the start of the new year, I thought it would be a good time to…. The post Hindsight is 2020: The payments past shows the future appeared first on Accenture Banking Blog.

How commercial banks can take the fight to digital entrants

Accenture

Today’s incumbent commercial banks are facing new, hyper-agile competitors powered by next-generation infrastructures.

Collaboration is reshaping payments in 2020

Accenture

There’s no denying that the payments space has changed a lot in recent years. Technological advancements, new competition, growing customer expectations and increasing regulatory obligations are all pushing established firms to embrace the new in many ways.

How Australia’s banks can divest assets with speed and precision

Accenture

In the first of this three-part series, we discussed how Australia’s financial services (FS) firms need to regain customer trust via a return to core banking offerings and values. That requires them to divest non-core assts.

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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.

How to succeed in India’s volatile digital payments landscape

Accenture

The growth of India’s digital payments sector in recent years has been phenomenal, and shows few signs of slowing: By 2023, digital payments will total US$1 trillion, a five-fold rise in five years.¹ In part, this growth is due to government efforts to drive financial inclusion and promote a cashless society, as well as regulatory…. The post How to succeed in India’s volatile digital payments landscape appeared first on Accenture Banking Blog. Payments APAC Banking Digital Payments India Bankin

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How Australia’s banks can map a divestment journey

Accenture

In the first of this three-part series, we looked at what Australia’s financial services (FS) firms must do to rediscover their purpose and regain customer trust—a process that culminates in deciding which assets to divest.

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How Australia’s banks can rediscover lost purpose

Accenture

In their quest for growth, Australia’s financial services (FS) firms spent decades acquiring and merging with a range of businesses to become one-stop shops. The aim?

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US commercial card spend expected to exceed $1 trillion by 2024

Accenture

US commercial card spend grew an estimated 13 percent in 2019 and strong growth is expected to continue through 2024.

Five predictions for auto finance companies in 2020

Accenture

The era of Mobility X.0 is upon us, bringing with it new opportunities and challenges for auto finance companies. Here are my top five predictions for what we may see in auto finance in 2020. Winners of the in-vehicle payments platform will lead Mobility X.0

Top 10 trends for banks in 2020

Accenture

The weather is likely to be unstable for banks in 2020, with a high probability of storms in places. Several continuing and new indicators suggest so—from banking consolidation, Open Banking and AI to eager big-tech entrants, revenue migration and purpose-driven banking.

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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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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….

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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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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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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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.

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.

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.

Will your next ride share be in an electric, self-driving car?

Accenture

My latest trip to Phoenix gave me a preview of what’s to come in auto financing, the for-hire vehicle industry and autonomous fleet management. And, that was just on my ride back to the airport. With my travel schedule, hailing a ride to the airport using a ride sharing app is all in a day’s….

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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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. .

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.

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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Digital is transforming the European specialty finance industry

Accenture

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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