With 2023 in the rearview mirror, we can look back on the year with 20/20 clarity. This year saw banks confronting multiple risks, some foreseeable and others less so. If the year has taught us anything, it’s that banks can do more to guard against the risk they can predict, and risk they may not… The post Five steps to banking cyber resilience appeared first on Accenture Banking Blog ..read more

It’s an open secret in payments that the commercial client experience is often second-class, far surpassed in both innovation and investment by consumer offerings. For years this disparity didn’t reach the bottom lines of incumbent payments providers, but our new research, Reinventing commercial payments for profitable growth, suggests it’s now creating competitive vulnerabilities. We found that… The post How to deal with rising competition and risk in commercial payments appeared first on Accenture Banking Blog ..read more

PSD2 helped drive electronic payment and data-sharing volumes while enhancing security.  So why is the EU proposing to enhance it with the new Payment Services Directive 3 (PSD3) and Payment Services Regulations (PSR) package, and what does this entail?  1)  Gaps in the regulatory application of PSD2. The new framework will create a consistent regulatory… The post EU future-proofs its payments and Open Banking ecosystem with PSD3 appeared first on Accenture Banking Blog ..read more

In their first post, “It’s now or never: Time for central banks to embrace change,” my colleagues Rohit Mathew and Oliver Reppel explored why central banks need to transform digitally to ensure they can fulfil their mandate. In this post, they explain how central banks can go about changing the way they use data and… The post Reviving the central bank: Getting (everyone) on the data train appeared first on Accenture Banking Blog ..read more

The years-long ISO 20022 journey has achieved a major milestone this year: it is now being used for cross-border payments. The new standard successfully launched globally in March 2023 with SWIFT CBPR+, and on the European Market Infrastructures of T2 (March 2023), Euro 1 (March 2023) and CHAPS RTGS (June 2023). Early data reveal a… The post Shifting from compliance to value with ISO 20022 appeared first on Accenture Banking Blog ..read more

While unfortunate, the rising tide of fraud is not necessarily surprising. Financial criminals have been targeting digital transactions for over three decades. As technology has evolved, so have their tactics.     The dial-up world of the 1990s was a golden age for credit card telephone fraud schemes. The smartphone explosion along with other digital devices and… The post One big idea to turn payments fraud from risk to opportunity appeared first on Accenture Banking Blog ..read more

We’re a little over halfway through 2023, but it feels like we’ve already seen more than a year’s worth of major banking news since January. With all due respect to the impact of generative AI—which we anticipated in our Top 10 Banking Trends for 2022—the biggest overall story so far this year is probably the… The post Checking in on the Banking Top 10 Trends for 2023 appeared first on Accenture Banking Blog ..read more

Generative AI: what’s in it for me? Everyone, including auto and equipment finance providers, wants to know. The way I see it, it’s a technology that will have far-reaching impacts on the lending and leasing business, bringing efficiencies and better experiences for those organizations that incorporate it across the value chain.  A few weeks ago,… The post Unleashing the power of Gen AI in Specialty Finance appeared first on Accenture Banking Blog ..read more

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