Accenture

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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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.

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.

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.

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.

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.

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. .

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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Getting real about real-time payments in the United States

Accenture

I am pleased to collaborate with Conrad Sheehan in developing this blog. Conrad leads our core payments practice in North America. Working directly with our financial services clients on strategic, operational and technical issues, he is on the front lines of the evolution of real-time payments. Digital technologies have conditioned us to crave immediacy. We get packages delivered in an hour. We binge watch entire seasons of our favorite shows in a few sittings.

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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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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Pivoting relationship managers to a new model (Podcast)

Accenture

AI: Someday a doorbell will take over the world?

Accenture

Guest blogger James McCord explores the opportunities presented by the AI revolution and how banks can embark on the transformation journey. Read his post. AI is here and now is the time to act. With artificial intelligence (AI) where do you start? True story…I was walking through the office last week and bumped into a colleague from our analytics team, Amy, who is at the cutting edge of technology and always has the latest gadgets.

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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).

The new bank COO

Accenture

Guest bloggers Ben Lopez and Charlie Arthy examine the evolving role of the COO in post three of their series on achieving simplified, future-ready bank operations. The focus for bank COOs is expanding beyond a pure cost perspective to include customer experience.

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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The tools of the future for relationship management (Podcast)

Accenture

As personal banking experiences continue to drive up the expectations of small- and medium-sized (SME) banking customers, many questions are arising for banks in this marketplace.

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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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When connected car payment arrives, prepare for growth

Accenture

Jeff Crawford, a member of our payment strategy and innovation team, provides perspective on connected car payments and the opportunities for stakeholders.

Expecting payments, this instant!

Accenture

Guest blogger Mark Quigley discusses what’s driving changes to payments in banking. I needed to write a cheque recently and found myself thinking “How do I do this again!?” Due to my near-total migration to internet and phone banking, what used to be second nature to many people 20 years ago was turning into a bit of a hassle for me: Why I am writing out the numbers in word form? Why do I need to practice my symmetric line drawing to avoid any possible fraud? Where do I even find my cheque book?

The new competitiveness in corporate payments

Accenture

I am excited to have Tim O’Donnell join our Payments team as a managing director and draw on his insights in developing this 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.

Why bank branches—and human contact—are not going away any time soon

Accenture

For years, we’ve heard people proclaiming the demise of the bricks-and-mortar bank branch, supposedly swept away by customers’ mass-migration to online and—increasingly—mobile alternatives.

How to “squash” competitors with real-time bank pricing

Accenture

Guest blogger César Rainusso breaks down how retail banks can implement a successful, real-time pricing strategy from back office to front line and across customer channels. Squash players know that when up against a strong competitor, a great serve is their greatest strategic advantage.

Sibos 2016: My five main takeaways for banks

Accenture

Once again, Sibos was the place to be to discover, discuss and understand how disruptive innovations are transforming the financial services landscape. Looking at the opportunities amidst the disruption, this year’s conference also further explored the evolving relationship and collaboration.

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Is the relationship manager still viable? (Podcast)

Accenture

The UK banking industry’s focus on commercial banking for small- and medium-sized enterprises (SMEs) is now at its most intense in more than a decade. It isn’t hard to see why: Alongside the new funding—and controversies—generated by the RBS remedies, we’re also seeing the big incumbent players targeting investments at SME services.

Connected commerce: The next big thing in digital payments starts at home

Accenture

In 2001: A Space Odyssey, “Hal” the on-board computer says, “I’m sorry, Dave. I’m afraid I can’t do that,” and refuses to let Dave back into the main spacecraft. This is a nightmare scenario around artificial intelligence that has been. Read more.

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Reshaping customer experience: A necessary step towards credit innovation in digital lending

Accenture

Have you ever sat in front of clients annoyed by the long process they had to go through in order to obtain a loan or mortgage? Probably. Making the procedure faster, simpler and more customer-centric is increasingly perceived as critical. Read more.

New ways of looking at M&A for mid-sized banks

Accenture

In our previous blog , we talked about the future of mid-size banks and evaluated strategic options including partnerships, the creation of bank utilities (or outsourcing to existing utilities) or leveraging the Banking-as-a-Service model. The traditional merger and acquisition (M&A) route is still a strategy for growth and there are new approaches to M&A that merit examination.

Take a page from the retail playbook: The agile branch banking customer experience

Accenture

Retailers have become more adaptive to respond to digital disruption, engage customers and improve competitiveness. Facing similar forces of change, retail banks must do the same. One way that banks can adapt is to learn from retailers’ transformation of in-store. Read more.

Bank boards: embrace the beauty of open, API-enabled digital payments

Accenture

There’s a story about a man who took great pride in his perfect lawn. He was traumatized one morning when he awoke to find it ruined by a large crop of dandelions. He tried every method he knew to get. Read more. Everyday Bank Featured digital payments APIs PSD2 open banking

This way to predictive mortgages: Three digital tools banks can use in the battle to acquire customers

Accenture

Steve Jobs once said, “Your customers dream of a happier and better life. Don’t move products. Instead, enrich lives.” Considering the degree to which Apple’s products are ingrained in people’s day-to-day lives, they’ve stuck well to Jobs’ guidance.

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Corporate portals: One-stop shop for competitiveness

Accenture

I am pleased to once again have managing director Tim O’Donnell’s unique perspective and experience for this blog series. The squeeze on revenue to the consumerization of corporate services are rewriting the playbook for competitiveness in commercial payments. Payments executives surveyed in our 2019 Global Payments Survey cite customer experience as a top driver of customer disintermediation.

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The evolving world of eCommerce payments

Accenture

Since the first eCommerce transaction in 1994, eCommerce has grown rapidly, impacting the way we shop today and leading to the formation of a whole new industry of eCommerce businesses and support services. Global eCommerce reached $1.9 trn in 2016, and is poised to grow at ~19% CAGR up to 2020¹.

What banks will want to become: a living business

Accenture

Winnie-the-Pooh isn’t normally considered a business guru, but it turns out that A.A. Milne had a pretty good grasp on the challenge of digital transformation. How does one become a butterfly?’ ’ Pooh asked Piglet in one of the stories.

Mid-size banks: strategic vision needed

Accenture

In my previous blog, I mentioned that Europe is the battlefield for GAFA (Google, Amazon, Facebook, Apple) companies from the West and from Chinese and Japanese platforms from the East, in addition to the growing number of new, smaller players entering the banking market. Over the last 12 years, 1230 new players have entered the market, and represented 6.6 percent of total banking revenues in 2017.

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CISO importance is prompting internal role change

Accenture

The value of the Chief Information Security officer has never been more evident, but is the role well defined and structured enough? Banks have witnessed a spate of cyber breaches recently with the financial sector experiencing 300 percent more cyberattacks than any other industry.

The first key success factor to break-through credit innovation: Improving data quality

Accenture

In my previous post I described Accenture’s framework, which includes the six key success factors of credit innovation that enable players to achieve performances comparable to new digital competitors: improve data quality, reshape customer experience, streamline instant loan process, boost.

Exploring the new money mindsets

Accenture

Things are changing for banks. People are moving on. They are making their own financial arrangements and leaving the banks to deal with their outdated demographic models. Banks need to look at people—their current and prospective customers—with fresh eyes, understanding. Read more.

How blockchain can bring greater value to Procure-to-Pay processes

Accenture

What is blockchain? Blockchain as a technology and concept continues to be hyped in the financial services industry. Experimental approaches and practical innovations like Accenture’s redactable blockchain are emerging and are of great interest and appeal to the financial sector. Read more.

Banks as Everyday Payment Providers

Accenture

Payments are experiencing a significant wave of change across multiple dimensions, including speed, transaction volumes and new ways of paying. At the same time, the opportunity to generate revenue from payments is decreasing. E-commerce and contactless cards are rapidly displacing. Read more.

PSD2: Scoping out the impacts of the RTS

Accenture

The PSD2 regulatory technical standards for strong customer authentication (SCA) and secure communication (SC) are proving difficult to finalize.

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