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Being digital
Digital strategy execution drives
a new era of banking
July 2015
The banking industry is under attack from digital disruption
From competitors to customers, processes to people, banking
executives who want to lead in a digital economy need to make
fundamental changes to how they operate.
• Start-ups are driving changes in customer expectations
• Established digital leaders are extending banking
services into non-banking digital ecosystems where
they are already dominant
Digital transformation
Copyright © 2015 Accenture All rights reserved. 2
*Source: “Everyday Bank,” Accenture 2014
return on equity for both mature
or emerging markets achieved
through digital*
5%
Banks must act fast in the face of rapid change
Banks can fully realize their
digital future by executing the
right digital strategy.
BANKS NEED TO:
• Embrace disruptive growth and
transformational change
• Appoint Banking, Technology
and Digital entrepreneurs
• Adopt a “being digital” mind-set,
inside and outside the business
Time is of the essence
Copyright © 2015 Accenture All rights reserved. 3
ONE MIND-SETTHREE GOVERNANCE
ROLES
TWO SPEEDS
Executing at two speeds
Copyright © 2015 Accenture All rights reserved. 4
*Source: “Everyday Bank,” Accenture 2014
Balancing new growth options with transformation of the core
SPEED 1—Disruptive: the rapid adoption of new
options for business growth (e.g. crowd everything,
data monetization)
SPEED 2—Transformational: fast change in the
core business of banking (e.g. addressing customer,
enterprise and operational strategies)
of bank revenues are
at risk from new digital
business models*
32%
Digital disruptors are attacking the banking industry, redefining
customer expectations and reshaping industry boundaries.
Banks need to embrace two speeds:
Banks need to appoint three “entrepreneurs”
Three entrepreneurs need to work together in a highly
collaborative manner:
• Banking entrepreneur—re-orient your business to
balance value and risk
• Technology entrepreneur—flex your platform to render
the organization more open, flexible and scalable
• Digital entrepreneur—delight your customers
by anticipating their desires
Governing with three roles
Copyright © 2015 Accenture All rights reserved. 5
Customer
experience
Evolve the bank’s culture, internally and externally
Being digital on the outside:
Using digital to improve customer engagement
and the customer experience.
Being digital on the inside:
Using digital to adapt internal banking practices
to deliver and stimulate the “being digital” agenda
Adopting a “being digital” mind-set
Copyright © 2015 Accenture All rights reserved. 6
*Source: “Digital Double-Down: How Far Will Leaders Leap Ahead?” Accenture 2014
of digital transformers see shortages
of digital skills as a top challenge
and have concerns about attracting
and retaining top digital talent*
61%
Orchestrate a new everyday banking ecosystem
Where next?
Copyright © 2015 Accenture All rights reserved. 7
Current execution models must change to
simplify customers’ lives and offer services
of unprecedented diversity and value.
To satisfy customers and stakeholders, take
advantage of:
TWO SPEEDS
THREE ROLES
A BEING DIGITAL MIND-SET
REINVENT
BANKING
Stay Connected
• Fast-forward to the right digital strategy
• Seven essential “no-regret” capabilities
• Embrace the future of work and your people
will embrace it with you
Learn more about this report at
www.accenture.com/DigitalBanking
Being digital
8Copyright © 2015 Accenture All rights reserved.
Read other reports in the
“Being digital” series: Follow Us–Twitter
www.twitter.com/AccentureStrat
Watch Us–YouTube
www.youtube.com/accenture
Connect With Us–LinkedIn
www.linkedin.com/company/accenture-
strategy
9Copyright © 2015 Accenture All rights reserved.
About Accenture
Accenture is a global management consulting,
technology services and outsourcing company, with
more than 336,000 people serving clients in more than
120 countries. Combining unparalleled experience,
comprehensive capabilities across all industries and
business functions, and extensive research on the
world’s most successful companies, Accenture
collaborates with clients to help them become high-
performance businesses and governments. The
company generated net revenues of US$30.0 billion
for the fiscal year ended Aug. 31, 2014. Its home
page is www.accenture.com
About Accenture Strategy
Accenture Strategy operates at the intersection of business
and technology. We bring together our capabilities in
business, technology, operations and function strategy to
help our clients envision and execute industry-specific
strategies that support enterprise wide transformation. Our
focus on issues related to digital disruption,
competitiveness, global operating models, talent and
leadership help drive both efficiencies and growth. For
more information, follow @AccentureStrat or visit
www.accenture.com/strategy

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Digital strategy execution drives a new era of banking

  • 1. Being digital Digital strategy execution drives a new era of banking July 2015
  • 2. The banking industry is under attack from digital disruption From competitors to customers, processes to people, banking executives who want to lead in a digital economy need to make fundamental changes to how they operate. • Start-ups are driving changes in customer expectations • Established digital leaders are extending banking services into non-banking digital ecosystems where they are already dominant Digital transformation Copyright © 2015 Accenture All rights reserved. 2 *Source: “Everyday Bank,” Accenture 2014 return on equity for both mature or emerging markets achieved through digital* 5%
  • 3. Banks must act fast in the face of rapid change Banks can fully realize their digital future by executing the right digital strategy. BANKS NEED TO: • Embrace disruptive growth and transformational change • Appoint Banking, Technology and Digital entrepreneurs • Adopt a “being digital” mind-set, inside and outside the business Time is of the essence Copyright © 2015 Accenture All rights reserved. 3 ONE MIND-SETTHREE GOVERNANCE ROLES TWO SPEEDS
  • 4. Executing at two speeds Copyright © 2015 Accenture All rights reserved. 4 *Source: “Everyday Bank,” Accenture 2014 Balancing new growth options with transformation of the core SPEED 1—Disruptive: the rapid adoption of new options for business growth (e.g. crowd everything, data monetization) SPEED 2—Transformational: fast change in the core business of banking (e.g. addressing customer, enterprise and operational strategies) of bank revenues are at risk from new digital business models* 32% Digital disruptors are attacking the banking industry, redefining customer expectations and reshaping industry boundaries. Banks need to embrace two speeds:
  • 5. Banks need to appoint three “entrepreneurs” Three entrepreneurs need to work together in a highly collaborative manner: • Banking entrepreneur—re-orient your business to balance value and risk • Technology entrepreneur—flex your platform to render the organization more open, flexible and scalable • Digital entrepreneur—delight your customers by anticipating their desires Governing with three roles Copyright © 2015 Accenture All rights reserved. 5 Customer experience
  • 6. Evolve the bank’s culture, internally and externally Being digital on the outside: Using digital to improve customer engagement and the customer experience. Being digital on the inside: Using digital to adapt internal banking practices to deliver and stimulate the “being digital” agenda Adopting a “being digital” mind-set Copyright © 2015 Accenture All rights reserved. 6 *Source: “Digital Double-Down: How Far Will Leaders Leap Ahead?” Accenture 2014 of digital transformers see shortages of digital skills as a top challenge and have concerns about attracting and retaining top digital talent* 61%
  • 7. Orchestrate a new everyday banking ecosystem Where next? Copyright © 2015 Accenture All rights reserved. 7 Current execution models must change to simplify customers’ lives and offer services of unprecedented diversity and value. To satisfy customers and stakeholders, take advantage of: TWO SPEEDS THREE ROLES A BEING DIGITAL MIND-SET REINVENT BANKING
  • 8. Stay Connected • Fast-forward to the right digital strategy • Seven essential “no-regret” capabilities • Embrace the future of work and your people will embrace it with you Learn more about this report at www.accenture.com/DigitalBanking Being digital 8Copyright © 2015 Accenture All rights reserved. Read other reports in the “Being digital” series: Follow Us–Twitter www.twitter.com/AccentureStrat Watch Us–YouTube www.youtube.com/accenture Connect With Us–LinkedIn www.linkedin.com/company/accenture- strategy
  • 9. 9Copyright © 2015 Accenture All rights reserved. About Accenture Accenture is a global management consulting, technology services and outsourcing company, with more than 336,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high- performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com About Accenture Strategy Accenture Strategy operates at the intersection of business and technology. We bring together our capabilities in business, technology, operations and function strategy to help our clients envision and execute industry-specific strategies that support enterprise wide transformation. Our focus on issues related to digital disruption, competitiveness, global operating models, talent and leadership help drive both efficiencies and growth. For more information, follow @AccentureStrat or visit www.accenture.com/strategy