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GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
GDS International   FST - Summit - US
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GDS International FST - Summit - US

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Winning in the New Banking Era.

Winning in the New Banking Era.

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  • 1. Winning in theNew Banking EraHigh performance DNA: Next generationcore banking, a catalyst for success
  • 2. Table of ContentsIntroduction 3The new paradigm 4Universal banking high performers’ DNA 6Next generation core banking: a catalyst 16for successWhat’s next? 192 | Winning in the New Banking Era
  • 3. IntroductionIt’s no overstatement to say that in the last few years banks haveexperienced a more challenging market than any in living memory.And for many the pressure is still on. They need to find new ways toreconnect with their customers and rebuild their trust. There really isno going back.But in the race to the future some banks are taking a clear lead. Our workwith these leaders around the world shows us that while each of them isdifferent, they also share some common characteristics and principles thathave allowed them to move ahead to profitable growth.In this paper, we draw out the lessons their superior performance canoffer to others in their own search for a return to growth. We take aclose look at the strands of high performance DNA that we see runningthrough all their businesses. We examine how their focus on the customer,their commitment to efficiency, and targeted investments in building atechnology platform for growth are all helping them to prosper.I hope you find the following an interesting and stimulating read. I’dwelcome your feedback and would be delighted to discuss with you anyof the issues we raise.Sincerely,Juan Pedro MorenoManaging Director, Accenture Core Banking Services 3
  • 4. The new paradigmThe legacy of the financial and In response, many banks have focused and competitive threats, all serve to intently on cost management. However, increase the strength of the headwindseconomic crisis is still severely new market paradigms show that cost confronting all banks.impacting banks’ performance reduction alone is not enough. Lack ofacross the world, especially economic growth is questioning the viability Banks need to rebuild profitability and of certain business models in some markets. reboot shareholder value by driving growthin more mature markets. Banks In addition, a broader intervention by in their core businesses through innovativeare still subject to significant the public sector with a huge wave of products and services, attracting and regulatory reforms, requirements for greater retaining customers, optimizing pricing,uncertainty and their customers’ capital reserves along with restrictions on managing risks effectively, and all whiletrust and loyalty is at an all funding will lead to a new, lower level of continuing to cut costs. At the same time,time low. profitability by constraining balance sheets. some banks will explore M&A opportunities Further, drastically reduced customer or divest non-strategic businesses (see figure 1). loyalty, and a new technological ecosystemFigure 1. ROE evolution (retail and commercial banks) 1-5% 27+% -2% 1%+ 1% -1% 2% 26%1 -1% -1% 3% -2% 19% -5% 1-5% -6% 1%+ 1% 15+% 3% 5% -6% -2% -3% 4%High Higher Shrink Higher Reduced NPL Post crisis Strategic Robust Pricing Effective Divestures/ Post crisisperformer capital balance cost of fee provision base case cost customer optimiza- risk inorganic strategicROE ratio sheet funding income increase reduction manage- tion manage- growth options case2000-2007 ment ment Developed market banks in crisis Developing market banks in more resilient economiesSource: Accenture Banking 2012 research1 Non-cumulative model based on peer set of large US, European and Emerging Market banks; profitability rebuild excludes impact of potential NPL recovery4 | Winning in the New Banking Era
  • 5. But while they understand what to do, how In marked contrast, in spite of the impact Banks such as BBVA, Santander,to achieve these goals is more challenging. on the balance sheet and P&L from new Commonwealth Bank of Australia,That’s largely because, for many, their regulations, players (see figure 2) that had Westpac, Nordea, Svenska Handelsbanken,commercial and operating models as well developed a high performance Universal Bank of Nova Scotia, Royal Bank of Canadaas technology platforms are, bluntly, no Banking model are clearly outpacing the and National Bank of Canada are alllonger up to the job. pack. They have been able to master a good examples. distinctive customer value proposition balanced with efficiency on the inside and masterful execution.Figure 2. Developed market banks: State aid, profitability and retail operations(2007-2010 average) Commonwealth Bank of Australia Royal Bank of Canada 20 Banks receiving state aid Scotia Bank Westpac No state aid Universal BBVA State aid repaid Banks Svenska Handelsbanken State capital injection Santander 15 National Bank of Canada Nordea 10 5ROEAverage 02007- 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 1002010 % of Retail and Commercial Banking Revenue -5 -20Source: Based on analysis of Top 50 Developed Market Banks by Market Cap; Accenture research analysis on Capital IQ and Bloomberg data 5
  • 6. Universal banking highperformers’ DNAAccenture’s extensive research 1. High performers strive for a customerand work with leading banksaround the world—and the centric—Universal Banking model withinsights these provide—hasenabled us to distil key a focus on core customer groups andattributes and capabilities deep relationships.that propel high performance Aside from the resilience of a few wholesale Their relationship model takes a holisticbanks to the front of the banking-oriented players, it is banks with a approach to customer needs in orderpack. We have been able to clear and diversified retail and commercial to build prime provider relationships.identify seven key “strands” business mix that have reinforced their Product offerings are based not only on competitive position in the aftermath of client segments but are also specificallyof high performance DNA the financial meltdown. tailored to specific customer profiles/(see figure 3) that create needs, while the sales force is supporteda foundation for achieving Their organizations pivot around customer by advanced CRM tools. These banks also segment management rather than product deploy sophisticated pricing models basedgrowth and reigniting management, ensuring strong connections on customer lifetime value and behaviorshareholder value. between different lines of business. profiles (risk, channel, propensities), and a fee model linked to the value added services customers are willing to pay for. Finally,Figure 3. High performance universal banking anatomy they have configured their sales and service approach with simplicity, convenience and transparency as the key guiding principles. 7. Leading 1. Customer edge centric Universal As a result, these players’ boost profitability technology Banking model and loyalty. For example, BBVA, Royal Bank of Canada and Wells Fargo enjoy higher 2. Multi- cross selling ratios (above 4) and lower 6. Ability channel to export High rates of customer attrition (less than five distribution the model Performance model percent), significantly exceeding market Bank DNA average standards. They also achieve a 5. Strong remarkable percentage of first contact sale 3. Industrialized ratios1 and rapid time to market to launch capital operating new products or services. management 4. Prudent model discipline risk 1 Number of conditional offers provided to the customer management during the first commercial contact over number of policies customer product applications.Note: Superior talent management is an additional attribute of high performance DNA not covered in this report.6 | Winning in the New Banking Era
  • 7. 2. High performers demonstrate thatmultichannel clients can be twice asprofitable and exhibit greater loyalty.Proximity, accessibility and innovation are In addition, high performers place particular Finally, high performers arethe trademarks of a “real” multichannel emphasis on innovation. They builddistribution model that delivers a true and advanced self-service capabilities, especially investing in data capture,consistent 24x7 online/real-time customer around ATM and Internet functionalities, management and analyticsexperience (e.g., access to a 360º single and are investing in the development of capabilities to multiply theirand integrated view, real-time processing, mobile banking and new devices thatetc.) with seamless customer interactions enhance customers’ experience and boost number of interactions perfully orchestrated across all channels— their engagement. customer, achieve a moreas Commonwealth Bank of Australia isable to do after its recent core banking Take Nordea, for example. Its customers can seamless and personalizedtransformation program. start a purchase through one channel and customer experience, sell close it from another. More than 70 percent multiple products during eachBranches maintain their role as the center of product offerings can be purchasedof high value added customer interactions, online while 20 percent of sales are already sales interaction (better salesbut players like Santander focus on performed through this channel. Nordea ratio), and provide ubiquitousproactive sales and more profitable services is also embracing social platforms as a access through an optimizedto maximize employee productivity. They new source of business intelligence and toshift administrative tasks to central back deliver products and services. channel mix, cost-efficiently.offices or the most efficient channels, anduse multiple branch formats and layouts to Finally, high performers are investing indynamically address market potential and data capture, management and analyticscustomer needs. capabilities to multiply their number of interactions per customer, achieve aIn consequence, their sales-oriented branches more seamless and personalized customeroperate with more than two-thirds of their experience, sell multiple products duringtime available for commercial purposes, each sales interaction (better sales ratio),delivering far higher employee productivity2. and provide ubiquitous access through an optimized channel mix, cost-efficiently.2 Average operating income per employee is almost twicepeer group average. 7
  • 8. 3. High performers have been early adoptersof industrialized operating models inorder to deliver best in class cost operatingperformance balanced with excellentcustomer service.Leading banks today have cost:income • Lean processes are standardized, BBVA operating modelratios of 45 percent and below, while the streamlined, digitized, automatedindustry average in mature markets is close and posted in real time, enabling BBVA is implementing a three-to 60 percent. Yet many of the leaders also paperless processes and fewer manual layer operating model for retail andhave highly productive customer models. interventions. commercial back office operations • Structured to ensure control and in which strategic functions areThe target is typically a choice between transparency and supported by anthree operating model end-states: retained at bank level (5 percent), audit trail and automated authorizationmanufacturing focus (efficiency champions), management capabilities together high value activities are also keptbusiness-line centric (category killer) or with strict compliance and online internally and performed sometimesdistributor. However, regardless of the validation of errors. by a segregated subsidiary (20-30specific end state, high performers, suchas BBVA or Santander, share common best • Transactions are managed according to percent), while the rest of non-corepractices. These include: their value, driving customers to the most functions (up to 60-70 percent of efficient channel. total) are outsourced to strategic• Separation between distribution and • Players like BBVA are increasing partners. Depending on the starting servicing, where distribution is organized/ delocalization of functions, supported led by segments with a horizontal point, these initiatives are expected by middleware and digitalization tools operating view rather than a vertical to facilitate workflow control and well to deliver 30 to 40 percent or more in product management approach. designed, efficient processes and growing savings during a 10-year timeframe.• Centralized service in consolidated use of business process outsourcing (BPO) manufacturing centers, organized (see sidebar). according to functions, with multi- • Analytical information providing visibility product/segment capabilities instead of the granular drivers of operational of product-siloed back offices. performance. • Proactive management of complexity across the organization.8 | Winning in the New Banking Era
  • 9. Moreover, players with a worldwide High performers achieve best in class 3 “Once and done transactions” (Account maintenance andfootprint manage retail and commercial operational efficiency ratios: inquiries, monetary transactions, payments, etc.). Non-STP transactions are related to Legal Requirements, Corporatebanking businesses globally through: • They reduce management overheads, Security requirements, manual exception processing, etc. 4 Teller typical transactions migration ratio to alternative• Product and/or segment global units, keeping levels of non-branch personnel channels has increased 3 times throughout 2005-2010, fostering best-practice cross-fertilization to 20 percent or below and fewer than 5 above 90 percent in the case of cash withdrawals, via competence centers or coordination percent of total headcount in back office accounts or cards inquiries, etc. through processes, with hierarchical operations. reporting over or shared responsibility • They achieve excellent turnaround times: with the business areas/ geographies. e.g., originating a new current account• Business, operational and IT corporate in under 20 minutes, taking only 3-9 models, customized to local needs. days to process a mortgage, same day• Global operations centers of excellence, processing of credit cards, and between beyond traditional finance and accounting, less than one day to a maximum of two procurement or HR activities, to support days to complete a consumer loan. vertical lines of business such as cards • Approximately 75 percent of servicing and payments, asset management, transactions are started and completed foreign trade, or corporate functions in one go (“once and done”3) and high like fraud detection and prevention. performers migrate a high proportion of administrative tasks to non-branch channels4. 9
  • 10. 4. Despite the economic crisis, and thecollapse of real estate prices in somemarkets, high performers have appliedprudent risk management policiesto ensure low bad-debt ratios, strongcoverage for provisioning, along withlow reputational and operational risk.High performers separate risk functions • Extensive use of advanced analytic enginesfrom lines of business while maintaining and tools have not only enhanced thestrong governance to coordinate risk and risk function but also sales performancethe business (e.g., through joint committees, through, for example, the use of autosales force/risk analyst alignment, decisioning rules, preapproved loans,etc.). Furthermore, they segregate risk a holistic 360º view of customer risk/underwriting circuits by business segment commercial information, and risk-based(retail, commercial), pursuing business sales pricing tailored to each customer.process optimization via: • Paperless risk underwriting process.• An end-to-end view of the risk cycle • Proactive and online (or near real-time) at the level of customers, policies and fraud validation. systems, reinforcing early detection, • Sale force personnel are the first level going beyond a traditional approach that of risk analysis, with bad debt ratios used focuses primarily on underwriting and as a key scorecard indicator for Front second on collection. Office personnel.• Extensive decentralization of credit risk authorization at the point of sale for certain amounts/segments, with system- controlled authorizations. Best practices, such as those at BBVA, show 65 percent of applications are approved by front- line staff and management, significantly reducing origination times.10 | Winning in the New Banking Era
  • 11. 5. Robust capital management disciplineis a key pillar for high performers,combining high quality capital, appropriateliquidity and funding positions, witha proven successful track record ofinorganic growth.They bring together a stable organic capital And on time because they:growth engine with new innovative sources(e.g., dividend reinvestment plan). • Generate appropriate information to analyze historical data to help configureFunctionally, they can best be characterized accurate early warnings.as robust and on time. • Use forecast results to inform decision- making.Robust, because their: • Incorporate advanced predictive real-• Capital management function is time analytics in their day-to-day embedded in the annual budgeting management processes. and rolling forecast, to tackle the • Act with speed and confidence. “Expected to be wrong” principle.• Capital planning, capital consumption Those banks with robust capital strength and risk and finance processes are and capital management discipline, together managed in an integrated way. Hence, with a sustainable ROE, are likely to be an enhanced understanding of the capital rewarded with reduced funding costs. allocation and consumption of different products and business units, which improves management of risk-weighted assets and returns on capital. 11
  • 12. 6. The success of the high-performanceUniversal Banking model has beendemonstrated by the ability to export(replicate) the model to global markets.High performers have a diversified business In conjunction with that approach, they The cost-to-income ratio forand geographical mix, straddling developed have used a standard and scalable IT model,and emerging markets. The Spanish banks based on global IT governance, global Santander UK was 39 percentBBVA and Santander are a particular case hardware infrastructure, regional software at the 2010 year-end, downin point. They both now generate more than factory hubs, regional IT retail banking from 70 percent five years ago.50 percent of their net profit from foreign platforms and global platforms for treasuryoperations, with a broader international and some wholesale and global retail lines BBVA has lowered theirs 10presence in emerging markets than their of business. percentage points in the lastpeer group. As a result, BBVA, for example, has decade, down to 43 percent.For them, a highly industrialized operating successfully exported this way of doingand IT model has played a vital role in banking across more than 32 countriesextending their customer-centric approach throughout the world, lowering its Group‘sinto new global markets. cost-to-income ratio by 10 percentage points—down to 43 percent in the lastThey have gradually evolved from a single decade—despite recent acquisitions.geography to a multi-local operating model.They have deployed a common corporate Santander has demonstrated that the modeloperating model that makes increasing can be made to work not only in Latinuse of strategic BPO partners, global America but also in developed marketspolicies and multi-geography back office such as Continental Europe and the UK.operations and centers of excellence. All For example, since entering the UK marketthese have fostered synergies and the in 2005 through 2009, Santander UKcross-fertilization of best practices while has increased revenues by approximatelyretaining local innovation and customization 15 percent on a yearly basis, even whenin line with specific regulatory or business eliminating the effect of further acquisitions.culture considerations. The cost-to-income ratio for Santander UK was 39 percent at the 2010 year-end, down from 70 percent five years ago. BBVA has lowered theirs 10 percentage points in the last decade, down to 43 percent.12 | Winning in the New Banking Era
  • 13. 13
  • 14. 7. Technology is a crucial building block supporting the successful Universal Banking customer centric model. At the center of the model is These core platforms adopted innovative principles such as: the core banking platform: the capability to process • Customer centricity, with a unique customer information database available daily customer and banking and integrated enterprise-wide for product operations, and multiple uses, personalizing product manage customer information offerings; economic capital risk-based and their accounts. During pricing; or underwriting analysis at a one-to-one client level. the 90s and 00s, high • Business process orientation, seamless performers such as BBVA integration between product applications, and Santander focused their covering the entire lifecycle, from investments on “change the set up to servicing and with process standardization as a key feature. bank versus run the bank”, • Anytime anywhere, 24x7 availability shaping a generation of highly through any channel providing similar automated, scalable and functionality to serve all channels with flexible customer centric no duplication of data or functions. core banking platforms.14 | Winning in the New Banking Era
  • 15. Figure 4. “From spaghetti to lasagna”From complex and unmanageable ...towards a flexible, scalable andIT solution landscapes… componentizable technological solution. Data warehouse Process & rules platform Server platform (mainframe) Process rules orchestration Synchronous Core banking Process automation applications Process monitoring Business rules Channels platforms Message integration platform Server platform (open) Events orchestration Synchronous Core banking Message integrator applications Repository Business rules• “Once and done” straight through • Scalability, as IT processes enable system As a result, while in some comparable processing, with a high degree of consolidation among business units, mature banking markets peers were automation and real-time processing entities, countries, etc. focusing their IT expenditure on day-to- of all items, ensuring immediate updates • Multi concepts, with multi-product, day platform maintenance or replacement, to positions, providing a superior customer multi-language, multi-currency, multi- leading edge technology has helped the experience, and reducing exceptional entity, multi-country functional coverage. high performers to achieve a significant, cases and any subsequent back office cost efficient, leap of scale, excelling peers rework. This also lowers operational risk These foundational investments freed up in terms of technological and operating as a result of easier control functions, resources during the first decade of the efficiency5, characterized by: online access to updated data and new millennium to work on high value automated validations, an audit trail • Strong IT quality ratios: 50 percent added applications (Integrated Desktop, and advanced authorization management discretionary6 and 60 percent flexibility7 CRM, Risk, MIS, Analytics, Multichannel capabilities to meet audit and compliance expenditure ratios. Architecture, Digitalization and Workflow, requirements and to enhance transparency. etc.), seamlessly integrated with the core • Higher business return from IT spending,• Simplification, facilitating lean processes banking platform that contributed to cost- with an average of a 4 percent IT with horizontal applications (origination, efficient growth. spending over revenues. product factory, collateral management, • Low IT cost8 per transaction: 0.05€. etc.) supporting different products and High performers unlock this leading edge lines of business, hence avoiding function core functionality for their customers by 5 Source: Accenture IT Cost Study 2010 (Spanish duplication, with a consistent user- providing: Banking Sector. Average 2007-2010). interface and seamless integration of 6 Discretionary ratio: IT FTEs allocated on new all applications based on the same • Advanced alternative channels (especially applications or infrastructures over Total IT FTEs. online banking, ATMs, and now mobile 7 Flexibility ratio: Variable IT expenses over total IT technical and architectural principles expenses. (see figure 4). banking) embedded in an integrated 8 Defined as the cost of technology required to process multi-channel architecture. a basic banking operation. • Strong and efficient leverage of outsourcing (infrastructure or application management) that facilitates IT expense management and control. 15
  • 16. Next generation core banking:a catalyst for successCost cutting is no longer • Reflexive and appropriate IT security • Post merger integration, determined that identifies and prioritizes gaps and by the need to deliver synergy benefits;enough to succeed in vulnerabilities. normally entailing migration onto one oftomorrow’s world. Instead, • A risk-based approach to data privacy. the existing technology architectures.the IT function needs to work • Obsolete technology hindering the • Social platforms to drive businessshoulder-to-shoulder with intelligence and create new customer business, and creating risk or sometimes when a business “buys” an operatingthe business to support the channels. model; imply a core system replacement.growth agenda. • User experience becomes the paramount driver of new products, services and • “Right-size and right-shape”, to reduceCIOs must no longer focus solely on marketing. the scale of the operating model; whereexcellent execution, but need to balance a superior customer experience coupledthis with agility, to respond promptly to a Leveraging these new technologies, and with product, process, data and technologychanging business agenda, and innovation, driving new business requirements, a simplification is at the core.playing a partner or incubator role rather resurgence of core banking transformationthan being an order taker or, at best, a programs is to come. This is not only Depending on the business trigger, sizefast follower. because some players see their core and market mix, players will follow banking systems as a significant obstacle different approaches. For example, bigIn this scenario, CIO’s attention is moving to achieving their strategic business banks in mature markets usually followbeyond cost reduction towards customer objectives. High performers, too, realize a gradual (by components) core bankingexperience, speed to market for new they need to evolve to achieve lasting journey,while small banks tend to opt forofferings, analytics, and distribution profitable growth. global transformations, often leveragingchannel enhancements, taking advantage a “utility” approach through ASP, SaaS orof several levers that will shape the Nevertheless, embarking on a core banking Cloud services.technology agenda in the near future: transformation is a complex decision. Banks moving in this direction perceive In any case, market specifics are a critical• Data as a platform, distributed wherever this strategic initiative with a return on driver. For example, large Chinese banks it is needed. investment beyond just cost reduction. with very fragmented/compartmentalized operating models tend to adopt a co-• Analytics at the heart of achieving The business rationales that trigger core development or custom development enhanced customer insight and more banking transformations vary, and might approach to tune their IT platform to fit efficient business processes. include: their models’ needs.• Cloud computing creating value higher up the business through applications and • Response to new business growth services. strategy, typically requiring substantial• Service-centric rather than server-centric changes to the business operating model; architecture to create flexible, responsive it may involve renewal or replacement of and agile business models and capabilities. core systems.16 | Winning in the New Banking Era
  • 17. Overall, this new generation of core Figure 5. New core banking platform generationbanking solutions will improve pre-existingcapabilities, introduce new innovations Current Enhancements and Innovationsand drive qualities such as flexibility and Customer centricscalability (see figure 5). It will achieve Decoupling Decouplingthis by: manufacturing and distribution and Anytime, corporate core manufacturing anywhere• Decoupling of: Enterprise/ Process - Distribution and manufacturing, with “Once and done” configurable common services and processing Functional functions to serve all lines of business, Advanced channels and segments, with no Business Multi-layered componentization process oriented architecture Applications duplication of data or functions. and granularity - Manufacturing and corporate core Simplification (accounting, MIS, risk management, Technical analytics), with an integration layer that ensures information granularity, Scalability Platform Integration of consistency and traceability. rules engine, and database agnostic BPM and process• Multi-layered architecture that decouples Multi-concepts flow tools processes, functions, applications and technicalities.• Advanced componentization and In summary, technology granularity for sharing and reusability, will be a key pillar supporting cross-channel, cross-line of business, cross-segment, cross-product, etc. the banking industry, to grow• Platform and database agnostic, allowing organically and inorganically/ multiple combinations to support the domestically and internationally bank’s different needs. at an efficient level of• Integration of rules engines to enhance cost, hence fostering share- systems flexibility and advanced process management tools: BPM, image capture, holder value. document management.All these enhancements will promotecustomer centricity allowing product andservice differentiation, as well as a flexibleand efficient operating model decreasingtechnology and operations costs. 17
  • 18. 18 | Winning in the New Banking Era
  • 19. What’s next?So what’s required to emerge At the same time, they will continue evolving Banks that emerged successfully their business and operating models andout of the crisis as a winner underlying products, process, and data from previous downturns wereand deliver sustainable models to reduce complexity. To this end, not necessarily those that madeprofitable growth? One thing operating models will have to embed two the deepest cuts. Instead, they key principles, simplification and flexibility,is clear: sticking to past to drive lean organizations. focused on optimizing andformulae won’t work. To make it work, all of the above will have reinvesting immediate savingsTo escape from the current value trap, to be supported by the new technology into strategic areas in orderhigh performers will continue to undertake wave that is rapidly reshaping the wayholistic transformation programs with to be in the best position for businesses and customers interact andinnovation playing a major role. deploy technology. This will be shaped growth on the upswing. around trends like cloud computing,Banks that emerged successfully from service-centric architecture, IT securityprevious downturns were not necessarily and data privacy, user experience, socialthose that made the deepest cuts. Instead, platforms or data accessibility andthey focused on optimizing and reinvesting analytics.immediate savings into strategic areas inorder to be in the best position for growth On top of that, a new generation of coreon the upswing. banking IT solutions is expected. This will improve existing capabilities and bringBusiness levers will concentrate on enhancing new innovations to provide the degreethe distribution model, specifically around of flexibility, simplicity, ubiquity andtwo axes: customer centricity and the scalability that customers, regulatorspotential of new and emerging devices and all stakeholders will require in theto deliver true multichannel experiences. “new normal”.High performers will enable customers topersonalize autonomously and proactivelytheir own product bundle offerings, pricingand fee models and service levels. 19
  • 20. About AccentureAccenture is a global management consulting,technology services and outsourcingcompany, with more than 244,000 peopleserving clients in more than 120 countries.Combining unparalleled experience,comprehensive capabilities across allindustries and business functions, andextensive research on the world’s mostsuccessful companies, Accenture collaborateswith clients to help them become high-performance businesses and governments.The company generated net revenuesof US$25.5 billion for the fiscal yearended Aug. 31, 2011. Its home page iswww.accenture.com.Accenture Core Banking Services, a businessservice within Accenture’s Financial Servicesoperating group, has helped design andimplement core banking systems for morethan 200 institutions worldwide. AlnovaFinancial Solutions, part of AccentureSoftware, Accenture’s dedicated softwarebusiness, is a leading core banking solutionwith more than 100 clients in morethan 20 countries, including many ofthe world’s largest and most successfulfinancial institutions. To learn more,visit www.accenture.com/corebankingor www.accenture.com/bankingsoftware.Copyright © 2011 AccentureAll rights reserved.Accenture, its Signature, andHigh Performance Delivered aretrademarks of Accenture.

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