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Banking Technology Vision 2017

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As technology continues to forge pivotal changes in banking, it is also offering banks a perfect, though small and closing, window to a thriving digital future. Banks need to use today’s technology as a catalyst to shape the future of the industry. See how in the Banking Technology Vision 2017.

Published in: Technology

Banking Technology Vision 2017

  1. 1. 2www.accenture.com/bankingtechvision TECHNOLOGY FOR PEOPLE Digital disruption is taking a new direction with people now shaping technology to fit our need. By amplifying people and putting the power into their hands, banks can deepen their role in consumers’ lives, and firmly establish their place as partners in the new digital economy.
  2. 2. 3www.accenture.com/bankingtechvision 3 OVERVIEW WORK FORCE MARKET PLACE TREND 3 THE UN CHARTED TREND 5 AI IS THE NEW UI TREND 1 DESIGN FOR HUMANS TREND 4 ECO SYSTEM POWER PLAYS TREND 2 www.accenture.com/bankingtechvision 2017 VISION TRENDS 3
  3. 3. www.accenture.com/bankingtechvision 4
  4. 4. 5www.accenture.com/bankingtechvision HELP WRITE THE NEW RULES OF ENGAGEMENT OR RISK BEING REGULATED OUT THE UNCHARTED BANKERS SAY: • Industry regulations have not kept pace with technology advancement (66% globally, 82% in US). • Industry regulatory environment is outdated (61% globally, 73% in US).
  5. 5. 6www.accenture.com/bankingtechvision THE UNCHARTED TAKE THE LEAD TO SHAPE THE NEW RULES 75% of bankers agree they have a duty to be proactive in writing the rules. 36% said that their organization has joined a tech consortium that helps set industry rules, while an additional 51 percent are considering joining one. Freedom to innovate THOSE THAT DO EXPECT MORE: Opportunity to develop standards that others follow Expanded opportunities for trusted partnerships
  6. 6. www.accenture.com/bankingtechvision 7
  7. 7. 8www.accenture.com/bankingtechvision DESIGN FOR HUMANS CUSTOMER JOURNEYS NOW RUN INSIDE AND OUTSIDE THE BANK Digital banking models, such as ecosystem platforms and channels not owned by banks, will bring consumers from outside the sphere of the bank’s knowledge. With these new models, banks typically have only the financial transaction and a fleeting moment to impress consumers with whom they may never connect again.
  8. 8. 9www.accenture.com/bankingtechvision DESIGN FOR HUMANS • 81% of bankers agree that organizations that truly tap into what motivates human behavior and design the customer experience accordingly will be the next industry leaders. • 34% are planning extensive use of human behavior analysis and insight to guide customer experience design. • 80% agree that organizations will need to understand not just where people are today, but where they want to be, and then shape the technology to act as their guide. SURGICALLY PRECISE DESIGN-CENTERED THINKING 9
  9. 9. www.accenture.com/bankingtechvision 10
  10. 10. 11www.accenture.com/bankingtechvision WORKFORCE MARKETPLACE ON-DEMAND TALENT AS A TRUE BANKING INNOVATION Create an agile workforce to access sought-after skills, knowledge and experience as-needed for more flexible ways of working. 16% of their workforce are independent freelance workers. 24% say their organization is already tapping on- demand labor platforms broadly across the organization. 29% expect their organization’s use of these workers to increase more than 51% over the next year. 81% agree that organizations that successfully integrate a liquid workforce into their business model will gain a significant competitive advantage through innovation.
  11. 11. www.accenture.com/bankingtechvision Unleash the Power of Us 12
  12. 12. 13www.accenture.com/bankingtechvision PLATFORMS ARE THE TIES THAT BIND BANK PEOPLE, PARTNERS AND TECHNOLOGY. THEY ARE WHERE MUCH OF THE TRANSACTION BANKING OF THE FUTURE WILL TAKE PLACE. 36% of bankers (vs. 31 percent all respondents) believe that it is very critical to adopt a platform- based business model and engage in ecosystems with digital partners. 76% agree that competitive advantage will not be determined by their organization alone, but by the strength of their chosen partners and ecosystems. 23% say their organization is leading one or more digital ecosystems. ECOSYSTEM POWER PLAYS 13www.accenture.com/bankingtechvision
  13. 13. 14www.accenture.com/bankingtechvision
  14. 14. 15www.accenture.com/bankingtechvision AI IS THE NEW UI Artificial intelligence (AI) in banking is not new. Banks are already using AI in heavily-manual processes for accuracy, efficiency, speed and cost benefits. What is new, however, is the move of AI beyond process to interaction. READYING FOR BANKING’S SHIFT FROM MOBILE-FIRST TO AI-FIRST 15
  15. 15. 16www.accenture.com/bankingtechvision • 79% agree that AI will revolutionize the way they gain information from and interact with customers. • 29% believe it is extremely important to offer their products/services through centralized platforms/assistants or messaging bots. • 76% believe that in the next three years, the majority of organizations in banking will deploy AI interfaces as their primary point for interacting with customers. • 71% believe that AI is capable of becoming the face of their organization or brand. BANKERS GET AI AI IS THE NEW UI 16
  16. 16. 17www.accenture.com/bankingtechvision TECH VISION SURVEY OVERVIEW SURVEYED Argentina Australia Austria Brazil Chile China Denmark Finland France Germany India Indonesia Ireland Italy Japan Malaysia Norway Portugal Qatar Russia Saudi Arabia Singapore South Africa Spain Switzerland Thailand Turkey Uae United Kingdom United States
  17. 17. THANK YOU #TECHVISION2017 www.accenture.com/bankingtechvision 18www.accenture.com/bankingtechvision

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