Accenture

Banks don’t have to be big to be bold

Accenture

I’m a person who likes to make a positive difference in everything I do. This blog is no exception. Beginning with this first post, I’ll share honest perspectives, creative solutions—and even a few bold ideas—for middle market banks to achieve their strategic agendas and differentiate in the market.

Open Banking: Measuring success to drive value

Accenture

Open Banking has become a global movement driven by regulatory, customer and ecosystem forces, each shaping the outcomes of a bank’s Open Banking initiatives.

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The top eight ways COVID-19 will impact payments

Accenture

We’re living through extraordinary times right now. The COVID-19 pandemic is changing business—and much else—forever. The global payments ecosystem has proven resilient in the face of the pandemic.

Open Banking: The right KPIs for business value

Accenture

In my last post, I talked about the importance of identifying and measuring the right key performance indicators (KPIs) to track the success of Open Banking initiatives.

Intelligent Process Automation: Boosting Bots with AI and Machine Learning

Across all sectors, companies are learning that they can transform their businesses by embracing Intelligent Process Automation, or IPA. With the pairing of AI and RPA, IPA adds a new layer of intelligent decision-making processes to automated RPA tasks. By automating repetitive work, and adding the ability to automate intelligent decision making, intelligent automation frees up your most valuable resources – your employees – to spend more time on higher value and more strategic work. But in order to reap the rewards of Intelligent Process Automation, organizations must first educate themselves and prepare for the adoption of IPA. In our ebook, Intelligent Process Automation: Boosting Bots with AI and Machine Learning.

Open Banking: KPIs to track for a secure ecosystem

Accenture

In this blog series, I’ve been highlighting the top key performance indicators (KPIs) that banks should be tracking to measure the success of their Open Banking initiatives. My last post covered the KPIs for business-value and customer-experience outcomes in Open Banking.

Banks should capitalize on saved time to empower RMs

Accenture

No matter what job you have, time is your most precious resource. For relationship managers (RMs) in commercial banking, this is certainly true.

Two business models for monetizing Open Banking

Accenture

In my first post, I talked about how it was time for banks to start looking beyond compliance in Open Banking and to imagine their role in the new application programming interface (API) economy.

COVID-19 driving US consumer behavior in touchless payments

Accenture

What drives change in an industry? Businesses? Consumers? Government regulations? In the case of touchless payments in the United States, change has mostly moved at a glacial pace—until COVID-19.

Banks face an imminent credit crisis

Accenture

The likelihood of a quick, V-shaped COVID-19 economic recovery is fading in many countries. The impact of the downturn—lower incomes, further job losses, diminished demand and more—is likely to endure, driving many consumer and business borrowers into default.

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!

Next-gen central banking | Pillar 2: Enable and drive innovation

Accenture

In our last post, we looked at how central banks can harness the power of data. We move on now to the second pillar. Pillar 2: Enable and drive innovation A key role for central banks is to enable and promote a vibrant financial sector. In the digital age, that means helping to cultivate new….

Beyond compliance—the new API economy

Accenture

For leading incumbent banks, Open Banking is not just a regulatory imperative. It’s a new revenue opportunity and a source of competitive advantage that can be captured by making the right power plays in the application programming interface (API) economy. But what exactly is the API economy?

Banking Tech Vision: Is your bank ready for the post-COVID world?

Accenture

When our researchers were in the field for our annual Technology Vision survey, COVID-19 was not yet a global pandemic. Since then, the virus has transformed our lives and challenged many long-held assumptions about how business operates.

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Digital regulators are a new norm in financial services

Accenture

Digital financial services are clearly impacting banks.

How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

How to drive the in-vehicle payments experience

Accenture

Consumer spending over connected-car platforms is expected to reach $265 billion by 2023. But will that benefit all players—or just the ones that carve out a definitive competitive advantage? Picture this: It’s a sunny Saturday morning and you and your family are buckled into the car for a day out.

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Open Banking—lessons in technology, security and APIs

Accenture

As I mentioned in my last post, the journey to Open Banking has been long and full of challenges for most banks in Europe.

Four ways banks can bolster their credit management

Accenture

In my previous post, I highlighted three overlapping phases of the looming credit crisis and the implications for banks.

Next-gen central banking | Pillar 4: Communicate effectively

Accenture

Pillar 4: Communicate effectively Communication is critical in ensuring that central banks can carry out their mandates effectively on a range of topics.

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.

Future-proofing the branch network beyond COVID-19

Accenture

In the first six months of 2020, the global COVID-19 crisis rapidly accelerated the evolution of the branch-network footprint. It’s time now for banks to consider future-proofing their networks for a post-pandemic world. Both the role and shape of branches are changing rapidly.

The future of finance is sustainable?and profitable

Accenture

The finance ecosystem—clients and employees, shareholders and stakeholders—is striving for purpose and sustainability.

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Banks, do right by customers to increase trust

Accenture

Banks, by and large, should be proud of how they’ve handled the early stages of the COVID-19 crisis—shifting quickly to remote working and helping provide customers with much-needed liquidity and financial support. More changes lie ahead.

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Q2 2020: US credit card issuer snapshot

Accenture

Key themes The spending effects of the pandemic were fully felt in Q2 as most issuers report large declines in purchase volume between 15-30%, and receivables decline between 3-17% YoY.

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How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

Building a digital monetary authority for a digital age

Accenture

Central banks’ key functions have remained largely unaltered since the first such institution was established in Sweden in the mid-17th century.

New business models for a new banking environment

Accenture

In the first blog in this series, I shared some of the observations from a white paper I co-authored with Finastra on corporate APIs. In this blog I would like to discuss how the proliferation of APIs affects banks’ business models.

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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.

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.

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.

Next-gen central banking | Pillar 1: Harness the power of data

Accenture

Our first post identified five areas central banks should focus on to become the digital regulators of tomorrow. Let’s take a closer look at the first pillar.

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UK banks can still build trust and revenues with SMEs post-COVID

Accenture

Small to medium-sized enterprises with up to 250 employees—SMEs—are the bedrock of economies worldwide. In the UK alone there are six million of them, collectively employing 17 million people. Until recently they were also a very dynamic segment, achieving strong growth over the past couple of years.

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What purposeful, trust-based banking looks like

Accenture

In the previous post of this series my colleague Alan McIntyre introduced two strategic pillars, comprising a set of actions that banks can take to increase their advisory trust, help improve customers’ financial well-being and, thus, grow their revenue by an average nine percent over time.

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How open data can help in the post-pandemic era

Accenture

As I illustrated in my last post, there are already plenty of examples of open data innovations being used to help with the unprecedented disruption and uncertainty that the COVID-19 crisis has caused. The question now is: What’s next for Open Banking and open data more broadly?

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Democratizing AI for All: Transforming Your Operating Model to Support AI Adoption

Democratization puts AI into the hands of non-data scientists and makes artificial intelligence accessible to every area of an organization. With the emergence of enterprise AI platforms that automate and accelerate the lifecycle of an AI project, businesses can build, deploy, and manage AI applications to transform their products, services, and operations. But in order to reap the rewards that AI offers, it is essential that businesses first address how their organizations are set up, from their people to their processes. Democratizing AI through your organization requires more than just software. It may require changing your operation models and finding the right guidance to realize the full breadth of capabilities.