After a decade of disruption, what has changed for commercial banks? The digital economy has taken off around much of the world over the past 10 years, and the banking sector has been feeling the impact of this transformation and attempting to…
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Wealth management is a hot topic for middle market banks, and I’m thrilled that Scott Reddel has co-authored this blog with me. As the leader of our North America Wealth Management practice, he brings a well-informed perspective on the issues and opportunities.…
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In this series we’ve taken a close look at the business case for embracing purpose in banking. In short, there’s compelling evidence that focusing on customer wellbeing can catalyze growth and digital transformation. Embracing purpose is more than a PR move. It is a…
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Digital payments are gaining popularity as cash usage declines around the world. While card payments still dominate in countries where they have a large incumbent advantage, digital products like payment apps, digital wallets, buy now pay later, and account-to-account (A2A) payments are…
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Key themes Receivables showed positive YoY growth for the first time in five quarters. Purchase Volume growth continues to be quite strong, with all issuers reporting 15%+ YoY growth; AmEx and Chase, in particular, reported over 30% YoY growth. Net Charge-Offs continue…
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In a post-COVID world we have seen dramatic changes in the way customers pay, from the further shift towards a cashless society to a digital revolution in e-commerce payments. As we look forward, we see these trends accelerating and new payments rails emerging. Market context Based on Accenture’s proprietary Global…
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It feels like the end of the year is approaching at breakneck speed. Here in Chicago, Illinois, the days are getting shorter, and the temperatures are dropping. Thanksgiving is not far off. All of which makes me think it’s a good time…
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The Efma-Accenture Banking Innovation Awards are set to return on November 18th for a virtual celebration of banking’s best and brightest. With a record 816 innovations submitted by 275 institutions in 73 countries, I’m excited to see what this year has in…
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Sibos 2021, one of the world’s largest financial services conferences, was once again all digital this year. Held from October 11-14, it saw over 19,000 delegates gather to address the biggest emerging issues across the financial ecosystem. The theme this year was…
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In my previous post, I started the conversation about the Business of Experience (BX). I encouraged Canadian banks to look beyond the Customer Experience (CX) to not only retain their current customers but also acquire new customers at a time when so…
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This year´s reporting season has brought sustainability and environmental, social and governance (ESG)-related efforts to the forefront of international banks’ annual reports, including their future o...
This is the first in a series of in-depth thought leadership pieces on Open Banking in the Middle East. This one explains Open Banking and outlines key considerations for the Open Banking journey. Sub...
This thought leadership piece looks at Instant Payments in the Middle East – how this innovative trend being implemented in the region and elsewhere is changing the payments landscape, and what banks ...
Since the onset of COVID-19, bankers everywhere are talking about cloud. And rightly so, as the benefits of cloud are clear. The conversation itself hasn’t changed much, but what has changed is timeli...
Central bank digital currencies (CBDCs) would help advance the digitalisation of payments and the economy as a whole. Retail, wholesale and international payments using CBDC would expand choices, enab...
The global adoption of ISO 20022 is the most far-reaching and widely underestimated development in payments today. It’s not shocking that the transition hasn’t attracted the attention it merits. ISO 2...
Even before the pandemic, digital identity—various forms of authentication and identification such as passwords, pins, facial recognition, etc.—had become an integral part of our everyday life. COVID-...
The Efma-Accenture Banking Innovation Awards have been a catalyst for innovation in banking since their inception in 2013. Since then, I look forward to them every year as the industry rewards and cel...
The COVID-19 pandemic has driven a rapid uptake of digital banking around the world. The incredible speed of the adoption has rewritten some of the fundamentals of the industry, including how consumer...
In my last post, I talked about the important role Request to Pay (RtP) will play in the future of payments—it will , bring flexibility to payers, cost reduction and efficiency to billers, and a huge ...
