Accenture

JUNE 29, 2023

Technical debt is a well-known issue in the software world, but it is becoming increasingly top of mind for banks—particularly banks undertaking a cloud transformation. Deciding what to do about tech debt usually involves an analysis of the tradeoffs between different approaches. What is tech debt? Tech debt occurs when either: 1. Software products are… The post Can cloud help banks solve the tech debt tradeoff?

Software 281

Software Analysis System 281

Accenture

APRIL 27, 2023

The growing threat of climate change has spurred banks and other financial services companies to step up efforts to become sustainable. Many have pledged to fight climate change and reduce their greenhouse gas emissions to net zero. Far fewer firms, however, have begun the vital task of arresting the destruction of our natural environment. Without… The post Nature is key to banks’ sustainability ambitions appeared first on Accenture Banking Blog.

Company 195

Company 195

Accenture

APRIL 24, 2023

Banks have the opportunity of a lifetime. And if they don’t act now, it’s going to slip from their grasp. I’ve just returned from speaking with senior bank executives around the US and Europe. The topic of our talks? One of the many pressing issues facing commercial banks today: sustainable credit—using banks’ capital resources to… The post Banks can no longer stall on sustainability appeared first on Accenture Banking Blog.

Resources 329

Resources Capital US Lending 329

Accenture

MARCH 27, 2023

Having pulled through the Covid pandemic, the unravelling of international supply chains and a global energy crunch, commercial banks must now grapple with a spike in interest rates and the collapse of some high-profile peer institutions. Rarely have I seen the banking industry in such flux and uncertainty. How should banks respond? My advice: Pause… The post Commercial banks must now focus on fundamentals appeared first on Accenture Banking Blog.

Industry 389

Industry Banking Trends Trends 389

Accenture

MARCH 23, 2023

As consumers experience economic turbulence due to inflation and rising interest rates, they want to be able to pay anywhere, anytime, anyhow. For banks to stay ahead of an increasingly complex payments game and meet these evolving consumer expectations, they will need to innovate and seize emerging opportunities. One opportunity we’re watching closely is buy… The post BNPL: Strategies for banks to get it right appeared first on Accenture Banking Blog.

Strategy 195

Strategy Meeting Innovation Payments 195

Accenture

MARCH 22, 2023

In the current edition of the Banking Cloud Altimeter, we dig into the results of our 2022 Banking Cloud Rotation Index survey, which follows the progress of nearly 100 banks on their journey to cloud. Though the progress they have made over the past year is impressive, there still seems to be a shortage of… The post Banks need a unified vision for true cloud success appeared first on Accenture Banking Blog.

Survey 195

Survey 195

Accenture

DECEMBER 13, 2022

This is the second part of our series on how banks can adapt to changing customer behaviors and expectations. We’re picking up from the last blog, which explored the “why” of this critical issue; this time we discuss the “how”. I’m thrilled to again have my colleague Danelle Faust as co-author. She leads our financial…. The post 3 ways banks can wow customers with new value appeared first on Accenture Banking Blog.

Customer Experience 243

Customer Experience Marketing 243

Accenture

DECEMBER 4, 2022

Adam and I were talking the other day about all the changes we’ve seen in the auto and equipment finance industry over the last two years. So many areas of the business have been affected by simply replacing in-person meetings with digital interactions. It’s also been a time of massive uncertainty, with climbing inflation and…. The post Tired of seeing red?

Meeting 284

Meeting Industry 284

Accenture

NOVEMBER 17, 2022

Disruption has become business as usual This year’s Sibos theme, “progressive finance for a changing world,” captures how customer expectations have radically shifted the direction of the industry. In today’s environment, experience is everything. A pandemic. A war. And now, a looming recession. The list goes on as disruption has become business as usual, fundamentally….

Industry 294

Industry Customer Experience 294

Accenture

NOVEMBER 6, 2022

This year’s Sibos conference in Amsterdam lifted the lid on how banks are grappling to become more sustainable and advance the fight against climate change. And what it revealed is tremendously encouraging. The conference hosted several presentations and discussions about environmental, social and governance (ESG) issues, ethical investing and energy transition.

Conference 263

Conference 263

Accenture

OCTOBER 10, 2022

Banks face a trust paradox. While customers trust banks with their money, only 19% of them say they are interested in receiving advice from a bank. And the more digital banks become, the less connected they are with their customers. As banks rapidly boosted their digital touchpoints during the pandemic, now is the time to…. The post Why banks should look Beyond Advice for growth appeared first on Accenture Banking Blog.

Digital Banking 195

Digital Banking Customer Experience 195

Accenture

SEPTEMBER 28, 2022

I’ve been hearing a lot about the metaverse and how it’s going to shake up all sorts of markets, and I began to wonder what it will mean for the auto and equipment finance sector. Here in the US, the Today Show recently brought the metaverse to life in a segment every day for a…. The post What is the metaverse and why should you care now? appeared first on Accenture Banking Blog.

US 324

US Marketing 324

Accenture

SEPTEMBER 26, 2022

As Yogi Berra once famously said, there is no difference, in theory, between theory and practice— but in practice, there is. That’s certainly true for tech transformation projects at banks. Most banks by now are well aware of the benefits of moving their tech stacks into the cloud. Most, likewise, are now a few…. The post Our top 10 cloud transformation lessons for banks in 2022 appeared first on Accenture Banking Blog.

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221

Accenture

SEPTEMBER 1, 2022

As promised in our last post, today we are diving deeply into why a technology integration strategy is a critical enabler for a successful fintech acquisition and for fostering (and, ideally, for accelerating) the growth of the fintech. Historically, the banking industry has been slow to modernize. This makes it challenging for most incumbent banks….

Fintech 393

Fintech Strategy Industry Technology 393

Accenture

AUGUST 28, 2022

Great brands aim to make an impact on the world. They use purpose to drive action. And according to a recent Accenture Song study on North American banking customers, “brand purpose” is no longer a nice-to-have factor—it’s an imperative. For banks, we define “brand purpose” as the action-oriented articulation of your mission and values, and…. The post Banking on brand purpose: Three ways to unlock ROI appeared first on Accenture Banking Blog.

Branding 221

Branding Study Customer Experience 221

Accenture

AUGUST 10, 2022

It’s an exciting time to be in payments—new technologies and business models are opening up more opportunities and markets. But that excitement is often tempered by concerns that efforts to capture compelling business opportunities may expose the new venture—and the firm—to unnecessary cybersecurity risk. But what if both the business and cyber teams were fully….

Innovation 429

Innovation Security Payments Technology 429

Accenture

AUGUST 2, 2022

Flat economic growth and rising competition are forcing banks in growth markets to step up investment in digital technologies. They’re eager to improve efficiency, enhance the user experience and create new business opportunities. But many banks are wary of committing themselves to an extensive digital transformation of their businesses. They view such large-scale change as….

Marketing 374

Marketing User Experience Technology Digital Banking 374

Accenture

AUGUST 1, 2022

I believe the “human connection” of middle market banks has always set them apart. This focus isn’t just about how banks treat their customers. It’s also about how they treat their employees—and how that translates into a positive employee experience that makes a bank a great place to work. The power of human connections at…. The post How banks commit to being great places to work appeared first on Accenture Banking Blog.

Marketing 284

Marketing 284

Accenture

JUNE 27, 2022

Most payments leaders who participated in our Growth in Payments research think digital payments could overtake plastic cards and cash by 2025. It’s clear that they expect a surge in payments innovation, different consumer behaviors, shifting regulations—and new payments growth. And like all payments players, middle market banks want to grab their share of it. ….

How To 195

How To Payments Regulation Innovation 195

Accenture

JUNE 23, 2022

For the past five years, banks have transformed by, in part, focusing on bank-to-bank mergers. However, the surge in banking M&A will shift from traditional acquisitions as banks clamor for disruptive technology and differentiated client experiences to defend profit pools that are under attack. In a soon-to-be-published study of banking and payments M&A and private….

Fintech 338

Fintech Study Technology Payments 338

Accenture

JUNE 21, 2022

It’s fantastic that banks are taking the lead in the fight against climate change. Over 50 banks from across the world have pledged to reach net-zero carbon emissions by 2050. And many more are set to follow. Banks can become stewards of the global economic transformation that’s protecting the future of our planet. But…. The post Six steps to help banks reach net-zero appeared first on Accenture Banking Blog.

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273

Accenture

JUNE 16, 2022

Ask any school-leaver what profession they want to enter, and banking is unlikely to appear on their short-list. The banking industry has an image problem among job-seekers. And it’s worsening an increasingly severe shortage of talent. The scramble for talent is one of the Accenture Banking Top 10 Trends for 2022. Banking executives in Europe…. The post Banks plot new ways to win the scramble for talent appeared first on Accenture Banking Blog.

Trends 378

Trends Industry 378

Accenture

JUNE 1, 2022

Sustained disruption is reshaping the payments industry. Developments like new technologies, shifting consumer expectations, and the launch of central bank digital currencies are creating major changes. With changes come opportunities—but not all payments players are seizing them equally. In my previous post, we looked at some strategies that digital-native payments disruptors have used to out-grow….

Payments 335

Payments Strategy Industry Technology 335

Accenture

JUNE 1, 2022

Commercial banking customers value the human relationships they have with bank employees, who provide advice, support and warnings about potential problems. Customers are looking for relationships based on empathy, responsiveness, customer focus and efficient service. Advances in artificial intelligence (AI) and tools that analyze data from multiple sources to provide valuable insights can endow bank….

Tools 259

Tools Data Analytics 259

Accenture

MAY 31, 2022

From blockchain to edge computing, I’ve always loved learning about new technologies. So when I first heard about the metaverse, I wanted to learn more about how it applies to banking. The reality is that banks can’t ignore the metaverse. It is central to every bank’s digital future. A good portion of global banking leaders…. The post Why the metaverse is a megatrend banks can’t miss appeared first on Accenture Banking Blog.

blockchain 333

blockchain Technology Marketing 333

Accenture

MAY 26, 2022

Public pledges by HSBC, ING and UBS to curb their funding of fossil fuel production are welcome signs that the shift to sustainable banking is gathering speed. These banks, among others, are using their allocation of credit to encourage sustainable business practices. They recognize that sustainable lending is critical for the well-being of their own….

Lending 312

Lending 312

Accenture

MAY 26, 2022

Key themes Receivables growth continues to gain momentum with issuers reporting single and double-digit YoY growth.? Purchase volume growth continues to be robust (27%+ YoY growth) as cardholder spend rebounds from pandemic lows.? AmEx reported particularly strong growth of nearly 38% on spend and 22% on receivables due to a resurgence of travel spend.?

US 195

US Cards Report Payments 195

Accenture

MAY 25, 2022

Variable recurring payment (VRP) is the latest development in UK Open Banking. It offers an innovative way to initiate recurring payments or money movement securely by leveraging the Open Banking framework. VRP also provides merchants and businesses with a faster and more cost-effective alternative to direct debit or card-on-file transactions. Conceptually, VRP is similar to….

Payments 195

Payments Innovation Security Cards 195

Accenture

MAY 23, 2022

As the payments ecosystem expands into the worlds of crypto and the metaverse, keeping up with customer expectations, regulations and technological shifts is becoming a big challenge for payments providers. The only thing we can be certain of is that things will keep changing! Staying relevant in this environment will require a level of agility…. The post Agility makes the pieces fit for payments players appeared first on Accenture Banking Blog.

Payments 300

Payments Regulation Technology Trends 300

Accenture

MAY 10, 2022

The Great Resignation—which has seen unprecedented numbers of employees quitting their jobs in many leading countries—is creating spine-chilling vacancies in every corner of the corporate world, including commercial banking. What will it take for banks to escape the talent nightmare and attract the staff they need to prepare for a demanding future? One thing is….

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263

Accenture

MAY 9, 2022

I cannot overstate the benefits of a modern core system—including flexibility, growth, new revenue pools and cost reduction—or the downsides of not having one. Without a modern technology stack, auto and equipment finance companies: Waste time on repetitive manual tasks that are prone to error. Lack the ability to easily add new products and services….

System 254

System Technology Company 254

Accenture

APRIL 10, 2022

Buy now, pay later (BNPL). It’s a message that appeals to customers, and it’s a growing trend that’s shaking up the credit industry. Fintechs have been moving aggressively to offer BNPL point-of-sale (POS) options for e-commerce purchases, and increasingly for purchases at brick-and-mortar shops. BNPL offers both convenience and personalization that focuses on customers’ needs. ….

Trends 375

Trends Fintech Industry Payments 375

Accenture

APRIL 6, 2022

One of the most remarkable things about payments right now is how easy they are to miss. Not that long ago, moving money around was a multi-step process that demanded one’s attention. You’d go to the ATM to get money, then go shopping, hand some over, and get some back. But today, thanks to technologies…. The post How convergence is fueling growth in payments appeared first on Accenture Banking Blog.

Payments 300

Payments ATM Technology Trends 300

Accenture

APRIL 6, 2022

The auto and equipment finance market is growing worldwide. Most current lenders are doubling down on their commitments, while other companies are excited to explore the opportunities. Whichever you are, there are three different approaches you could take—you could build a new business from scratch, buy an existing business or partner with a finance business….

Marketing 317

Marketing Company 317

Accenture

APRIL 4, 2022

How is operations perceived within your bank? As a back-end function ripe for continual cost reductions? Or as an embedded part of an integrated end-to-end design process, collaborating with other areas to create compelling and cost-effective experiences for customers? If your answer was the first rather than second of these options, it’s time for a….

Operations 195

Operations Digital Banking Innovation Technology 195

Accenture

MARCH 29, 2022

Attending the awards ceremony last October for American Banker’s Most Powerful Women in Banking was an unforgettable experience. Not only was this the first in-person event I’d attended in months; more importantly, it was a celebration of how far women have come in banking. A passion for making a difference So you can imagine how…. The post Why banks need to tap into the power of belonging appeared first on Accenture Banking Blog.

Marketing 331

Marketing 331

Accenture

MARCH 29, 2022

The big players in commercial banking are making major investments in technology to quickly ramp up their digital transformation and streamline their processes. That’s all very doable for banks with deep pockets—but what about the mid-sized banks? As we identified in our Commercial Banking Top Trends in 2022 report, the farther we get into the…. The post How can mid-sized banks compete in the big leagues?

Trends 257

Trends Technology Report Banking Trends 257