Accenture

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.

Retail 156

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.

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

Data 120

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.

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.

Apple 156

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.”.

Survey 156

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.

Cards 156

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.

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.

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. .

B2B CX: The new battleground

Accenture

The personal experiences of corporate banking clients—hyper-relevant, simple, instant and more—are shaping their expectations for their business-to-business (B2B) experiences. In payments, for example, corporate customers want immediate transactions akin to a retail purchase done over a mobile app. Payments leaders are taking notice and action. B2B payments leaders are prioritizing client experience for growth B2B…. The post B2B CX: The new battleground appeared first on Accenture Banking Blog.

Small banks, tap the consortium model for fintech investment to innovate

Accenture

Guest bloggers Alex, Devon, Eliza and Reagan – from Accenture’s Emerging Leaders Program – dive into how regional retail banks combat the challenge of keeping up with the tech acquisition capabilities of larger banks through banking consortium models. A regional retail bank’s ability to effectively future-proof its business depends on how well it can adopt technology…. The post Small banks, tap the consortium model for fintech investment to innovate appeared first on Accenture Banking Blog.

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.

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.

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.

Trends 120

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.

Trends 181

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.

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.

Cards 156

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.

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.

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.

Survey 156

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).

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.

Data 163

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.

Survey 181

Why banks must unlock the full power of their customer data. Today.

Accenture

Guest blogger David McGinty explores what banks can do to deliver on constantly increasing customer expectations and thrive in the future. . It’s no secret that the big tech companies—especially the ‘GAFA’ of Google, Amazon, Facebook and Apple—are using data to personalise and target offers to customers, and getting better returns as a result. But it’s not just big tech who are doing this. Many organisations are already reaping the rewards.

Data 131

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.

Tools 181

Pivoting relationship managers to a new model (Podcast)

Accenture

Creating an Open Banking maturity ladder

Accenture

Banks are now showing a deep interest in Open Banking—at least for the corporate world—and while the level of maturity still differs among players, at Accenture we have been able to create a maturity ladder and position players along this ladder.

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.

Can the power of payments fuel credit growth in Europe? Yes.

Accenture

Guest blogger Markus Naumer examines how digital payments technology is enhancing credit lending and showing promise in addressing consumer credit-aversion challenges. Digital credit for consumers is an underpenetrated and underestimated opportunity for banks and retailers alike. In most European countries, for example, unsecured card lending is less than 18 percent of total unsecured consumer lending.

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.

Tools 156

Today, cyber resilience isn’t an option. It’s an imperative.

Accenture

In leading our Banking practice in the UK and Ireland, I’ve become well acquainted with the risks that keep bank CEOs awake at night. One of the biggest of these is cybersecurity—which is why I’ve decided to make it the focus of this latest blog. It isn’t hard to see why it’s such a major concern. Today’s banking industry has a combination of increasingly digitised services and a fast-evolving cyberthreat landscape.

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.

Sustainability: The new backbone of supply chains

Accenture

Companies are shifting to new integrated business models: ecosystems, a network of cross-industry players that work together to define, build and execute consumer solutions. Accenture identified seven key ecosystems with a global value of about $50 trillion like living, health and mobility that are changing global supply chains. In addition, sustainability is becoming more and more important, not just from an ethical point of view but in terms of business.

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.

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.

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.

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.

Maine 301

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.

Challenges for the neo-challengers: Four hurdles to overcome

Accenture

In my frequent conversations with clients across the UK and Irish banking industry, one of today’s hottest topics is the rise of the challenger banks such as CYBG, Metro and AIB UK, and particularly the neo-challenger banks providing digital-only services, like Monzo, Atom and Starling. Why the intense interest in the neo-challengers?

Metro 120

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.