Everyday Bank Blog

Initiating Digital Transformation of the Customer Experience

We are living in the “Age of the Customer,” when technology and economic forces have put customers in control of their interactions with businesses. A recent study of nearly 400 global decision-makers — commissioned by Accenture and conducted by Forrester Research — highlighted three key findings related to the customer experience.

  1. The customer experience is at the heart of digital transformation, meaning that businesses must create positive and relevant customer experiences across channels and touchpoints.
  1. Businesses are on the path to digital transformation, but have a ways to go, with many businesses – including banks – offering a digital experience that is average at best.
  1. Third-party solution providers plug the gaps and manage the drive for transformation; they can help banks preserve internal resources and overcome gaps in capabilities.

As we reviewed the Efma Awards candidates, we were struck by the way Allied Irish Bank transformed the customer experience in developing its AIB eMortgage product. As seen in the video below, AIB eMortgage puts customers in control of their own mortgage process. Customers choosing digital can complete the entire mortgage process on the web. The only papers they need to touch are the documents they scan to send with their application.

The eMortgage solution reduces the time it takes the customer to complete the mortgage from 6 to 7 hours down to just one hour. And the process is transparent, so customers understand the steps required and where they are in the process at any point. In AIB’s case, the transformation of the customer experience has paid off; the eMortgage solution has been highly successful and is accounting for nearly 10 percent of AIB’s new business in this sector.

Lebanon’s Byblos Bank is another example of a successful customer experience transformation. The bank’s Asra3App is a B2B communications and marketing app aimed at getting car dealers to refer auto loan applicants to Byblos Bank. The app provides both the dealer customer and the end client with a faster, simpler way to fund auto loans, meeting the customer at the key point in the purchase decision and helping remove any obstacles between the customer and the final purchase.

AIB and Byblos Bank are good examples of banks aligning their organizational structure, company culture and business technology to serve customers and deliver the digital experience they seek. Attracting, winning and retaining customers requires a concerted effort across the entire organization, with profitability, ROI and customer satisfaction all key measurements of progress.

Are you seeing financial service organizations providing their customers with unique experiences? If so, please share them below in the comments sections.

Cyber security: Are you cyber resilient? (You better be)

Cyber security is a top-of-mind issue with no easy answers and no absolute protections. Cyber attacks are frequent, evolving, costly—and no retail bank is totally immune.

Becoming cyber resilient

A recent Accenture point of view challenges financial services organizations to think differently about cyber security. It stresses cyber resilience because enabling fast recovery from attacks is just as vital as erecting barriers to try to prevent them.

Cyber resiliency is operating business processes effectively in normal and adverse scenarios. Resilient organizations identify, prevent, detect and respond to process or technology failures well. They recover while reducing customer impact, reputational damage and financial loss.

Preserving customer trust

Cyber attacks wreak havoc on banks in so many ways that it is impossible to argue that one impact is more destructive than the next. Even so, banks cannot ignore the relationship between cyber resilience and customer trust.

Accenture’s 2015 North America Consumer Digital Banking Survey reveals that 86 percent of customers trust their bank over all other institutions to securely manage their personal data.

With competitive threats poised to lure even long-time customers away, banks cannot afford to lose this trust. But it can all come crashing down with even one isolated cyber breach.

View the image.

View the image.

Asking the right questions

How banks handle recovery can be the difference between whether customers stay or leave. This is why planning for the aftermath of an attack demands the same attention as incorporating front-end, preventive security measures.

I encourage you to answer five key questions to assess the state of your organization’s cyber resilience today:


1. Do my employees understand that their own activities can put the bank at risk of a breach?

Cyber risk is not just the technology department’s problem; banks should address the issue from a cultural standpoint too.

Internal Fraud

2. Are our processes and day-to-day activities designed to address the vulnerabilities of internal fraud?

Unfortunately, some of the biggest vulnerabilities can come from the people that banks trust the most.


3. Does our solution development cycle check for vulnerabilities—and are existing systems tested based on new cyber risk scenarios?

It’s not enough for banks to put cyber security protection protocols in place for new systems yet ignore legacy system vulnerabilities.


4. How strong are our detection capabilities—and are we evolving them to keep up with changing threats?

There is no rest for the weary when it comes to cyber resilience, banks should anticipate threats that are constantly changing.


5. Do we know if our ecosystem partners are taking adequate cyber protection measures?

Banks’ hard work can be undone if partners and vendors are not taking precautions related to their people, processes and technologies.

Banks that make cyber resilience a priority position themselves for the reality of how they should work and serve customers in the digital age. To learn more, visit www.accenture.com/CyberRisk.

Core banking: Cost base and capability – where striking the right balance is imperative for future-fitness

A bank’s core banking system is the underlying engine that drives and supports its key activities. It’s such an embedded and integral part of any bank that there might be a temptation to take it for granted. This would be a big mistake.

In fact, core banking infrastructure represents the lion’s share of any bank’s cost base and operational capabilities in and around its core services to customers. As a result, it is critical in enabling and supporting relevant and compelling customer interactions, ranging from delivering various types of products and services to meeting customers’ growing needs and expectations for fast, responsive and personalised experiences.

In playing this pivotal role, core banking spans the entire breadth of banking activities, ranging from savings accounts and secured or unsecured lending in the retail space, to corporate finance and capital markets in the corporate space. And if you look at a bank’s overall anatomy, core banking not only encompasses the majority of what it does today – but also the majority of what it could do better or differently tomorrow.

Core banking’s potential to enable the bank to do new things in new ways is now becoming more vital than ever, as banks seek to harness the power and promise of digital to position themselves as the “Everyday Bank” at the heart of their customers’ lives.

To help them realise this goal, banks are pursuing a three-point agenda around their core banking: become leaner in their operations; gain greater agility in responding to change; and put digital at the core of their business. And, in the post-crisis world, they’re striving to deliver on this agenda in the face of rapid and unprecedented change in the regulatory landscape.

Against this background, the prime focus of banks’ leadership in the past two to three years has been to balance the trade-offs between regulatory pressure, cost efficiency, and positioning themselves for future growth through digital. And to help them strike and sustain this balance, they’re investing increasingly in new capabilities in areas like automation, robotics and analytics, and in customer-focused product innovation in categories like unsecured lending.

However, for banks to be truly fit for the digital, customer-centric future, something more is needed: a restoration of the public trust that has been so deeply damaged by the experience of the crisis and subsequent regulatory scandals. In the second blog in this series, I’ll take closer look at how and why banks must rebuild trust – and then go on in subsequent blogs to examine the changing dynamics in the fast-growing unsecured lending segment, and the power and implications of robotics as a driver of banks’ future growth.

The new battleground in banking customer experience: Payments loyalty and rewards

Pricing and rewards points are the top two incentives for consumers to increase their use of mobile payments according to our 2015 North America Consumer Digital Payments Survey. But incentives like these do not guarantee lasting customer loyalty for payment providers.

Select the image to view a larger version in a new window.

Select the image to view a larger version in a new window.

Today’s consumers are fickle, and loyalty is fleeting. Points-based rewards programs are so common that they are table stakes, not differentiators. Consumers are willing to switch in favor of the best banking customer experience.

Two sides in a fierce battle

Considering this environment, there is a battle brewing in the loyalty and rewards landscape. And the two sides could not be more different.

Traditional payments institutions, including banks and credit card providers are on one side. They are struggling to align loyalty and rewards programs with today’s commerce trends—mobility, immediacy and personalization. Traditional providers are hamstrung by their own ecosystem with its complex processes, legacy technology infrastructure and regulation.

On the other side, there are the emerging players, including technology companies, digital start-ups and retailers like Starbucks Corporation. These players are inherently nimble and lack technology and regulatory limitations.

Consider how Starbucks is driving loyalty through ease of payment and short redemption time. The company is also making the customer experience more seamless at every stage. Self-loading cards, personalized song recommendations, pre-order and in-store pick-up are all part of this commitment.

Developing a new defense

There is a lot at stake for traditional players if they do not rethink loyalty and rewards. There are also exciting opportunities for them as open source technology supports rapid merchant and partner integration and the ubiquitous use of points across partners and channels.

There is a clear imperative for traditional players to move from currency based rewards. This shift requires the development of brand-led experiences that drive loyalty through the combination of rewards, personalized merchant offers, unique experiences and ease of redemption. It’s a whole new breed of loyalty.

Once traditional players define what this new loyalty looks like for them they can focus on several key areas to provide a foundation for change:

  • Technology infrastructure. Payment providers should strive to free themselves from the albatross of legacy systems with new technology approaches that allow for the rapid assembly of applications to solve dynamic business needs. This approach requires modular architectures, scalable elastic design, and a cloud-first, mobile-first mindset. Engineering innovations such as Agile development, DevOps, and Feedback Driven Iterations can aid speed of development and deployment and achieve minimum time to market.
  • Program innovation. Loyalty programs must evolve to build mutually beneficial relationships between merchant, payment providers and consumers. For example, there are coalition or “co-opetition” approaches that take advantage of a broader ecosystem centered on the customer. This involves merchant integration and rewards monetization opportunities, which are the foundation of American Express Company’s Plenti program.

While this battle rages on, traditional payments players must do more than protect their territory. They need a new arsenal to extend their boundaries and grow consumer loyalty over time.

Learn more about Accenture’s latest consumer payments survey.

What will make consumers fall in love with peer-to-peer digital payments?

Forty-six percent of consumers have already used peer-to-peer (P2P) payments, according to our recent 2015 North America Consumer Payments Survey. As adoption and usage trends evolve in the coming years, what forces will influence more widespread consumer preference for P2P payments?

Forces to watch

View the image.

View the image.

None of us has a crystal ball into the future of P2P payments. However, we can assume that technology advances will play a significant role considering the rapid-fire pace of digital innovation. In such a disrupted competitive landscape, there’s also the potential that the next breakthrough may come from a provider that is not on the radar—yet.

In such a dynamic environment, it’s hard to know where to place your future bets. However, based on trends in play today—and on P2P success stories in other markets—I expect three significant forces to have a strong influence on P2P payments adoption:

1. Millennials are P2P payments pioneers

This force is more about the “who” than it is about the “what.” Trends in Millennials’ use of digital payments instruments continue to characterize this demographic as digital payments early adopters.

Across the board, 18 to 34 year old “digital natives” have an affinity for non-traditional payments instruments. This holds true of P2P mobile applications too. According to our survey, Millennials are 4 percentage points more likely to make P2P payments than other demographic groups combined. Considering Millennials’ economic power and prime position as movers of today’s always-on culture, they have the “gravitas” to be trendsetters here.

2. Social media is a viral engine for P2P payments

Social media and P2P payments have something fundamental in common—person-to-person sharing. Case in point: PayPal Inc.’s Venmo merges social media conversation and payments transactions. Consumers are intrigued. Consider that Venmo processed $1.6 billion in payments in Q2 2015, and it only launched in 2013.

Venmo users can post social style messages alongside their transactions. This has an appeal for Millennials who constantly document both the mundane and the milestones on social channels. Many love the social aspect of money, and they compete to write the wittiest descriptions of their transactions. Because it happens among “friends,” the viral quality of the intersection of social media and P2P payments can build awareness and reduce the perception of risk.

3. Easy and seamless are non-negotiable in P2P payments

Our payments survey reveals that consumers are hungry for simple, personal and everyday payments experiences that mesh with their lives. This value proposition fueled the success of P2P payments in Denmark.

In 2013, Danske Bank launched the MobilePay app, which provides a simple way to transfer money, including both person-to-person and merchant payments. Just two years later, the app has an extraordinary two million users in a country with a population of 5.5 million people. The fact that the app is ubiquitous—open to both Danske Bank users and other banks’ customers—and very easy to use fueled interest and adoption.

Making a love connection

For now, the P2P payments market in this country is largely controlled by non-traditional players that are not bound by behemoth core infrastructures, complex processes and regulatory limitations. But the longer that traditional players wait, the harder it will be to capture consumer mindshare in P2P digital payments.

Learn more about Accenture’s latest consumer digital payments survey.

Digital payments: A sweet spot for Millennials

Every industry is scrambling to capture Millennial mindshare, and retail banking is no exception.

Consider the sheer numbers and earning power of 18 to 34 year olds. Millennials now officially outnumber Generation Xers in the US labor force, according to the Pew Research Center.

Millennials and Money

But just how digital are Millennials? In recent months, Accenture research has revealed insights to help answer this question for the banking industry.

You may recall that results of our 2015 North America Consumer Digital Banking Survey offered some surprises. We learned that while banking through digital channels is important to them, more than a quarter of Millennials expect to use the bank branch more by 2020. The message to banks is to see digital as a catalyst, not as an end-all-be-all to connect with Millennials.

The Appeal of Digital Payments

Recently published results of our 2015 North America Consumer Payments Survey—a multi-year survey of over 4,000 consumers in the United States and Canada—tell a different story when it comes to Millennials and payments.

Millennials have not abandoned traditional payment instruments. Sixty-six percent use cash today. However, only 53 percent expect to use it in 2020—that’s five percentage points less than the projected future use of all survey respondents combined.

Moreover, Millennials have a clear affinity for digital payments. Just like last year, they continue to be change drivers and first movers in all digital payments areas when compared to other demographic groups as this table reveals:

View the image.

View the image.

Open to Digital Evolution

These insights offer an interesting perspective into the Millennial mindset related to digital payments. For example, Millennials are 6 percentage points more likely than other groups to use PayPal, Inc. in 2020. They are also 6 percentage points more likely to be interested in connected commerce. This is the ability to make payments via objects with Internet connectivity—anything from wearables to appliances and cars.

Strong Millennial interest in both a “traditional” digital payment option like PayPal and in an “emerging” digital payment option like wearables suggests that this generation does not view digital with tunnel vision. They are open to a variety of options.

Millennials’ openness to change and innovation is something that the industry should not forget. After all, Millennials are digital natives. Having grown up with digital, they know expect technology to be ever evolving and to cater to their needs.

The challenge for the industry is to understand what will influence Millennials to choose from among various digital payments options? Will it be convenience? Customer experience? Cool functionality? Something else? Answers to questions like these will help providers find Millennials’ true digital payments sweet spot.

Learn more about Accenture’s latest consumer digital payments survey.

Real-time payments: bold decisions to stay relevant and competitive

At last week’s panel session hosted by Accenture at Sibos 2015, six experts from different perspectives and regions shared their thoughts on real-time payments.

Let’s start with the UK which is the gold standard for real-time payments. The emphasis on consumer-centricity and the customer proposition was the key message for the packed audience from Graeme Donald from Lloyds and Craig Tillotson from UK Faster Payments.

Graeme Donald highlighted that as real-time payments services mature, likewise do customer expectations. Today, nothing less than 24 hours a day and 7 days a week real-time payments underscored by real-time banking will do.

Craig Tillotson added that more financial institutions need to have direct access to the real-time payments infrastructure, while ensuring the security of the ecosystem. The key to realizing this is a competitive layer of aggregators, who can aggregate the demand for a large number of smaller banks, as well as handle the technical complexities on behalf of these banks.

Most markets and countries implementing real-time payments programs will go through the same stages of maturity, but time scales have been drastically compressed. While earlier entrants such as the UK may have had seven years to evolve, in contrast, those considering real-time payments programs now will probably have only one to two years to launch to be relevant; and when they launch they can expect dramatic volume growth, as experienced this year in Denmark which launched at the end of 2014.

Australia is in the midst of building its New Payments Platform (NPP). Banks there believe that it is crucial to position the platform as a means to help their customers achieve their business goals.

To bring the customer experience-focus to life, Philip Joyce from Westpac highlighted three factors to differentiate one from one’s rivals: how well you understand your customers’ problems, how you differ from your rivals and how you integrate your differentiation factors into your offerings.

As tough as it is to see additional revenue from real-time payments, the business case is really about remaining relevant to customers through overlay services.

Stig Korsgaard from Nets Denmark added that the good governance in the country, coupled with strong commitment from banks, central banks and other players ensured a speedy process of implementation. It’s a one for all and all for one mentality that underscores a universal recognition of the importance to be connected.

The Danish program was also facilitated by the support made available to banks (such as onboarding and clear pass-through steps), clear division of responsibilities, and agreement to utilize existing capabilities that banks have such as web services. All of this translated into an investment experience that was manageable for all banks.

Read the report.

Read the report.

In the US, Sean Rodriguez from Federal Reserve reinforced that they have found that overlay services is extremely important to both strategy and business, so much so that while the infrastructure is key, it is nothing without the services layer. Rodriguez added that with the existence of different models, settlement and clearing of real-time payments did not necessarily need to happen at the same time.

Multi-stakeholder engagement is critical and it should cover as many relevant parties as possible – such as end users and non-bank providers.

Paolo Cederle from UniCredit advised banks to focus on local real-time payments’ implementation but to also monitor global developments in order to to facilitate future interoperability.

Cederle summed it up nicely: the defining characteristic is service and customer experience. All payments have to be faster and banks need to make bold decisions such as adopting new technologies to stay relevant and competitive.

Real-time payments were widely discussed throughout the week at Sibos and are clearly a strategic theme for the industry – feedback from the audience confirmed that this panel concisely articulated the key points and insights on the benefits and challenges of real-time payments. You can see a replay of the session at www.accenture.com/siboslive  and read Accenture’s own insights by downloading our Real-Time Payments for Real-Time Banking paper, and the Executive Guide to Immediate/Real-Time Payments.

Placing real-time payments at the heart of the digital economy

Read the report.

Read the report.

The world of payments continues to face tremendous challenges and transformation primarily driven by technology and regulation. Think digital wallet versus paying cash, and what’s more how the digital wallet has evolved. But that’s just one part of a picture that is transforming the way consumers spend and pay.

APIs can potentially change how we work, play and spend. They can allow consumers to make payments and do their banking outside the banking environment in third party apps, for example a department store app. Third parties can design apps to their own requirements and embed APIs in them to tailor the customer experience to how they want it to be.

With APIs for real-time payments and real-time balance updates, the real change is how consumers adopt new real-time payment technology and how businesses understand and create value from rapidly changing customer behavior.

The macro-economic environment and the technological momentum in our world offer businesses and banks not a spare moment to waver. E-commerce and M-commerce around the world is booming and by the end of 2015, mobile commerce sales are projected to hit US$132 billion in Europe and the US, growing at 25% per year. Asia is another potential hotspot as well.

For a sense of the potential, to date, the UK has the most advanced real-time payments systems, with over one billion transactions per year, but this barely includes any transactions from P2P, ecommerce or mcommerce.

As these uses take off, UK real-time payments could easily double or even triple in the next five years. This is only one market in question. Another example is the spectacular growth of Venmo over the past two years (reaching $1.6bn in Q2 2015), a US real-time payment overlay service. This shows the demand for real-time P2P payments and the potent combination of payments with social media.

Capitalizing on such growth requires, in tandem, real-time payment systems that are efficient and trusted by consumers.

Based on Accenture analysis, more than 50% of payment revenues are at risk – 35% in interchange fees, and other innovations from non-banks such as e-wallets and ApplePay which can affect the remaining 15%.

The growth of online transactions and the greater potential with the widening Internet of Things are driving banks to understand the situation better, to cautiously overcome change while ensuring they minimize business risks. Banks are hungry to find revenue sources such as from overlay services, to reap more revenue from real-time payments – one path is to develop P2P real-time payment services, monetizing them by expanding them to ecommerce and mcommerce.

Real-time payments are core to the digital economy – a broad ecosystem that is underscored by a connected economy – from almost everything we do at home, to our healthcare providers, to manufacturers whose goods we purchase from, to the cars we drive.

And each one is a point where payments can potentially be initiated from, for example from electricity meters, road sensors, even delivery drones. Because of that, digital commerce demands 24 hours a day and 7 days a week real-time payments – real-time in availability of funds to complete transactions and real-time confirmation, in milliseconds end-to-end, that funds have been transferred and received.

This is a complex ecosystem, involving not just devices but applications. Banks have to connect bank accounts, digitally-enable them to make payments, at any point in the ecosystem through any device. If banks are not enabled in the digital economy, others will step in – and are already doing so, Venmo for example is owned by PayPal – relegating bank accounts into “dumb” accounts to feed the digitally enable accounts of others.  Banks will lose direct connection and a daily point of interaction with their customers.

With the onslaught of such competition, banks have to realize they should not aim to own the entire set of innovation in the payments space, but shift their mindset to collaborate with new innovative players.

With this vast potential to be reaped, banks should move beyond the humble bank account and experiment with new payment propositions, including the internet of things, to remain at the center of payments in the digital economy.

To learn more about Accenture’s view on this topic, read “Real-time payments for real-time banks

There’s no agile bank without agile leadership: How to win in the digital banking era

Change is non-negotiable for retail banks to thrive in the digital banking era. But meaningful change cannot happen without leaders who are willing to change too.

This is especially true for the agile bank—a disruptive retail bank that is customer focused, market driven and proactive. A 180-degree departure from the traditional full service bank, the agile bank trades an inside-out focus for an outside-in obsession. And not surprisingly, the most effective leader for this dramatic evolution is the agile leader.

New Ways to Lead

Accenture research defines three pillars of leadership. These include vision and strategy, relationships and execution. As my Accenture colleagues have discussed, the agile leader has distinct—and even surprising—traits and behaviors across each of these areas:

1. Vision and Strategy

Becoming an agile bank is an evolution for most retail banks. The evolution is most successful when it is a journey in response to a guiding vision set by an agile leader. What’s unique about the agile leader’s vision is that it acknowledges—even embraces—uncertainty. Agile leaders see uncertainty as a threat and a challenge. They understand that they cannot know everything today about what tomorrow holds. What they do know is that change is a given—maybe a dead end, or maybe a door. Either way, agile leaders factor in change to the vision without fear.

2. Relationships

The agile leader builds relationships within the organization and with partners and stakeholders. The agile leader is never a despot, and is masterful at delegation. By giving “deputies” the authority to act with real decision power and without going through the typical multi-layered approval processes, the agile leader nurtures a faster speed to market. This fast-twitch speed is critical for the bank to seize on market opportunity and consumer desires. Empowerment and fostering leadership at all levels are hallmarks of effective agile bank leaders.

3. Execution

The agile leader champions a very different way of working. Rather than spend months perfecting a new market offering, the agile bank uses iterative development methods and customer feedback loops to refine ideas in real time with real customers. The agile leader does not chase perfection before greenlighting new ideas. He or she recognizes that perfect is the enemy of the good. As such, the agile leader develops a culture and way of working where informed but fast decision making is the new normal. Delivering with scale, buy-in and accountability while developing internal staff are priorities for the agile leader.

Change Starts with an Agile Leader

These characteristics clearly suggest that the agile leader is a unique breed. And what’s more, the agile leader will play a make-it-or-break-it role in the future of the agile bank.

If you are thinking about your bank’s digital banking future, I encourage you read more about the agile bank and get more insights into leadership imperatives for the agile business.

Payments solutions top the Sibos 2015 agenda

Sibos 2015 is almost here and as Singapore beckons, Accenture is preparing for an eventful week.

Key themes we expect to dominate Sibos are real-time, or immediate payments, PSD2 for the European banks and distributed consensus ledgers, with Ripple and its cross-border payments solution making waves.

Immediate payments are a big theme in Europe and the USA, with Australia in the middle of a programme, run by SWIFT to introduce them in 2017 and Singapore now live with the FAST system for 18 months. It is becoming clear that immediate payments will become pervasive and will dominate mass retail and corporate payments everywhere; the race is on for banks to transform their IT and operations to enable immediate payments and to develop new payments and payment account propositions for their customers.

PSD2 is European regulation, with immediate implications for European banks, but its effect is likely to be felt globally. Not just because regulators around the world tend to feed off each other with new regulations, but also because it will catalyse the development of a new payments ecosystem for the digital economy. In particular, it will enable new types of payment providers, allowing third parties access to account information and the right to initiate payments, requiring banks to expose their payment systems through APIs. This has major security and liability implications that banks need to address, compounded by other PSD2 requirements to enhance the security of online payments. The PSD2 has additional requirements to improve the original PSD, as well as the interchange caps for cards transactions. With the PSD2, European banks face both a compliance challenge and an opportunity to reinvent themselves for the digital economy that will dominate their payment plans and investments for the next three years at least.

Sibos 2014 in Boston was the point when the banking community started to accept that there is more to distributed consensus ledgers than Bitcoin, and that the technology has the potential to dramatically improve the efficiency of financial markets, taking out layers of intermediaries and gatekeepers. Since then, there has been considerable investment in the technology, by both banks and VCs.  The technology remains immature, and the industry is still in a discovery phase, but expect in Singapore to hear a lot more on how it is being developed for industrial use in capital markets and in payments. In particular, we expect Ripple, an Accenture alliance partner to receive a lot of attention for its cross-border, international payments solution.

Again this year, Accenture has a booth (I38) at Sibos. We will have on hand over twenty senior executives from across our global Financial Services business to meet with you and discuss your needs, including payments-as-a-service solutions, immediate payments, PSD2, corporate payments and distributed ledgers. On Tuesday 13th October at 12.15 pm we are holding an Open Theatre presentation on “Placing real-time payments at the heart of the digital economy” and will continue the theme at our lunch time panel on Wednesday 14th October with industry experts discussing how to architect real-time payment business and technology models for business value. At the booth we will have demos of our distributed commerce platform for mobile payments, of distributed ledger solutions running on our private blockchain, and of the Ripple solution for correspondent banking together with our alliance partner, Ripple.  If you’d like to meet with me or one of my Accenture colleagues while you are here, please let me know.

See you in Singapore!

P.S.  If you are not attending Sibos but are interested in participating in our lunch panel on real-time payments, you can register to watch a live broadcast of the discussion and get involved in the conversation via Twitter using #SibosLive