According to a new report by Accenture and McLagan, which is part of Aon Hewitt a business unit of Aon plc, blockchain technology could reduce infrastructure costs for eight of the world's 10 largest investment banks by an average of 30%, translating to $8 billion to $12 billion in annual cost savings for those banks; key figures include a 70% cut on central finance reporting, a 50% cut on business and central operations, and a 50% cut on compliance. Source
As banks look to update legacy technology or partner with fintechs they have turned to consultants for advice; consulting firms like BCG, Accenture and the big four accounting firms, KPMG, PwC, Deloitte and EY have all been called upon to help structure deals or provide banks with advice on regulatory updates; financial institutions are relying on these consultants to help banks implement the technology changes and to adapt quicker as they can help bring knowledge from data scientists or app designers. Source.
According to a new study by Accenture 40 percent of consumers in the UK trusted banks, up from 29 percent...
In an interview with The Financial Brand, Alan McIntyre, Senior Managing Director, Banking for Accenture shares his perspective on the...
Consultancy firm Accenture revealed that UK digital banks acquired 6 million customers in the second half of 2019, bringing the...
According to a new report from Accenture, nearly half of investment in insurtech startups globally is going towards artificial intelligence (AI) and internet of things (IoT) technology; the report, titled, "The Rise of InsurTech," includes analysis from CB Insights data on 450 insurtech deals over the last three years; the report was released with the launch of Accenture's Fintech Innovation Lab in London, which will include a focus on insurtech. Source
According to a new study by Accenture 7 out of 10 consumers would be reluctant to share their Information with third party providers; Citi recently published a study pointing to three main reasons that wide scale adoption will take longer; reasons include slow consumer adoption, fragmented market for new open banking services and the ability for payment providers to adapt to new rules; thus far open banking has been slow but big banks like Lloyds Banking Group and RBS have made big tech investments anticipating the change will happen over time. Source.
A new study released by Accenture says bankers now have high expectations for Open Banking as half of those surveyed...
Writing in Forbes Alan McIntyre of Accenture talks about some troubling signs that are headed towards banking in 2020; banks...
According to a new report from Accenture high street banks face the possibility of losing up to 8 percent of...