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  • user 10:46 pm on April 4, 2017 Permalink | Reply
    Tags: , , , bolster, guide, , , , ,   

    Use Technology Vision for Banking as a guide to bolster traditional banking, before it’s too late 

    Long ago, houses in northern China were constructed with windows made of thin, semi-transparent paper. To protect their belongings, the residents had to be good meteorologists to ensure that they pasted up the paper windows in advance of bad weather. Waiting until the rains arrived was too to act.

    Storm clouds are gathering over the industry in the form of a fragmenting value chain, rapid migration to digital channels, encroaching financial firms, and open banking regulations. However, this year’s Accenture Technology for Banking report suggests that still have a chance to protect their business the heavy rains arrive. The report identifies 5 five technology trends that will allow banks to better connect with customers, move staff to higher value-added roles, and position their business for greater digital relevance.

    Read the report

    For example, banks can now use embedded AI solutions and Robotic Process Automation to personalize and elevate the interactions between customers and employees, rather than having the humans be governed by the machines. Thirty-four percent of the nearly 600 bank executives who participated in the survey are planning to use deep human behaviour analysis to better understand what motivates customers and design the customer experience accordingly. As human interactions become rarer in banking, the importance of each one going well increases. Human-centric technology design is also critical in a world where customers will increasingly interact with their bank through ecosystem platforms and channels not owned by banks. In many cases, banks will only have a fleeting opportunity to differentiate and brand their services to these customers. So in every interaction, banks need to be thinking about how they use technology to make both customers and staff more productive and loyal.

    Another key trend identified in the survey is the rise of ecosystems that extend the banking value chain and shift core banking functions outside industry walls. Banking executives are more likely than average (36 percent of bankers versus 31 percent of all survey respondents) to believe that it is essential to adopt a platform-based business model and engage in ecosystems with digital partners. Seventy-six percent of bankers agree that competitive advantage will not be determined by their organization alone, but by the strength of their chosen partners and ecosystem platforms where much of tomorrow’s transaction banking will take place. Consumers will expect their banks to be there regardless of who owns the platform.

    The ancient Chinese were innovators. They soon began using oil to waterproof their paper windows, making them more robust and durable. Banks also need to be innovators to protect their business models as the competitive and regulatory rain clouds gather. The vast majority of customers want a mix of digital and human interaction, so the role of technology is to enable frictionless digital channels while also personalizing and elevating the human interactions to deliver an empathetic, memorable and differentiated customer experience. The rains are coming, and our Technology Vision for Banking is a to waterproofing the windows of traditional banking before too late.

    I invite you to read about all five trends in the full report: Banking Technology Vision 2017 | Technology For People: Banks’ Path to Becoming Their Customers’ Everyday Trusted Advisor and Their Staff’s Employer of Choice

    The post Use Technology Vision for Banking as a guide to bolster traditional banking, before it’s too late appeared first on Accenture Banking Blog.

    Accenture Banking Blog

  • user 12:18 am on February 16, 2017 Permalink | Reply
    Tags: , ‘Innovating’, , , , , guide,   

    A Guide to Genuine Innovation When Everyone Is ‘Innovating’ 

    This bank created an lab, and that bank is launching a team. But this other bank just started a focus group, and everyone else is investing in tech. Gone are the days when could afford to be “conservative” with new product launches and tech projects, whichRead More
    Bank Innovation

  • user 10:02 pm on May 2, 2016 Permalink | Reply
    Tags: , , Fortune, , guide, Magazine, , ultimate   

    Fortune Magazine – The ultimate guide to financial growth 

    , one of the most prestigious American business magazines, was founded by Henry Luce in 1929. The is published globally by Time Inc. Fortune covers the entire field of business, including specific companies and business trends, tech innovation prominent business leaders, and new ideas shaping the global marketplace. Fortune is best known for its exceptionally reliable annual rankings of companies. Fortune furthers understanding of the economy, provides implementable business strategy, and gives you the practical knowledge you need to maximize your own success.

    In the latest issue of Fortune magazine, know how to make a profit in the new Hollywood. The article reveals that hit sequels like Jurassic World and Star Wars: The Force Awakens helped push Hollywood’s global box office to a record $ 38 billion in 2015. But the industry faces troubling trends: It’s struggling to produce human-scale movies that break the action-sequel mold — and when it does make them, they often don’t make money. Studio heads know they eventually need to lead in digital or risk losing out to another screen-based center of gravity, the one in Silicon Valley.

    Also, get to know about the billionaire behind Walgreens’ quest for global dominance. Stefano Pessina took control of the drugstore chain using its own money. Now he’s squaring off with CVS. Can a brilliant dealmaker become a killer retailer? Read the article in this issue of Fortune to know more.

    The cover story ‘Silicon Valley’s $ 585 Billion Problem’ reveals that VCs have pumped up the value of the “unicorn” startups. Now tech IPOs are in trouble. Of all the Silicon Valley IPOs in the past couple of years, Lending Club’s might have been the surest bet of all. The San Francisco peer-to-peer lender is a star in the world of “,” a growing sector made up of companies bent on disrupting the traditional banking sector. Lending Club’s stock peaked about a week after its IPO, at nearly $ 26 a share, and has been retreating ever since. Time and time again during the current IPO cycle, Wall Street underwriters–egged on by ambitious CEOs, hungry venture capitalists, and favored institutional investors–have hyped one technology IPO after another. The bankers price the offerings for perfection, watch them soar on the first day of trading to deliver the coveted first-day spike, and don’t stick around to offer an explanation after the shares plunge below the first-day price.

    Fortune digital magazine is available on all digital newsstands like Apple, Magzter, Google, Amazon, etc. Digital magazines have gained immense popularity as people have migrated towards smart devices for all their needs. Digital magazines can be read on iPad, iPhone, Android devices devices and on the web. Fortune digital magazine’s annual subscription is available at a huge discounted price on digital newsstands like Magzter.

    Fortune is the to financial . Visit the Fortune magazine subscription at http://www.magzter.com, and Subscribe and read Fortune magazine on your Smart Devices and Web!

    Find More Fintech Articles

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