Accenture (NYSE: ACN) has introduced two new software products - Accenture Multichannel Platform and Accenture Product and Fee Factory - to help banks quickly and efficiently integrate customer channels, such as mobile, branch and online banking, and streamline product development and pricing.
Developed by Accenture Software, the new products are designed to help banks increase revenues, improve commercial offerings and reduce distribution costs by strengthening customer channels and product management.
Accenture Multichannel Platform is a software solution that enables banks to rapidly integrate their customer channels at a lower cost for IT development and infrastructure. It is designed to help banks meet growing customer demand for well-integrated banking services that are accessible online and via mobile devices, as well as through branches, call centers and ATMs. The new platform is based on open standards, component-based technology that easily integrates front-office and back-office systems. It offers 'out-of-the box' banking features such as digital signatures, document management and security.
Accenture Product and Fee Factory offers banking product managers a central platform based on Java technology to more quickly and efficiently create, price and launch new products and create customized bundled offerings. It helps banks increase revenues and become more customer-centric by allowing them to more quickly roll out new and personalized offerings with greater versatility of pricing.
"These new applications are a result of our increasing focus on delivering modular software for banks," said Paolo Maresca, head of Accenture Software for Banking. "They were developed based upon our decades of insight to high performing bank operations and our track record of designing, building and implementing successful core IT infrastructure for hundreds of banks globally. Alongside our award-winning Alnova core banking solution, these products are part of a growing software suite designed to help banks modernize and redesign their operations to meet changing market demands."
The Accenture Multichannel Platform and Accenture Product and Fee Factory are available as standalone products, or in combination with Alnova Financial Solutions, an Accenture-built core banking application used by leading banks in more than 20 countries, including the United States, United Kingdom, Spain and Brazil.
Juan Pedro Moreno, global managing director of Accenture Core Banking Services said: "The vision of truly customer-centric banking has been an aspiration of financial institutions for some time. Making it a reality means overcoming legacy IT systems and siloed customer channels that are costly to maintain and give low returns on investment."
"Our new applications help banks achieve this by speeding up product delivery and lowering the cost of channel integration to support better cross-selling and customization. They help give online and mobile banking a more central role for customers, which can drive loyalty and profitability for banks," added Moreno. Accenture Core Banking Services, a business service within Accenture's Financial Services operating group, has helped design and implement core banking systems for more than 200 institutions worldwide.