Services for the Financial Services Industry: South Africa

Despite the slowdown in the global economy, the financial services industry is reinventing itself. Innovative new players without the baggage of historical infrastructure, such as branch networks, are offering a full range of products and services via the Internet and other low-cost direct channels.

Yesterday's leaders are having to play catch-up, scrambling to offer the equivalent full service to customers online. They're having to resolve issues of multi-channel interaction, striving to achieve a 360 degree customer view. They're dealing with increased customer expectations and knowledge. And they're doing this while running existing brick-and-mortar operations.

Banking
Accenture's dedicated banking professionals help banks consolidate, rationalise and automate to outperform competitors.

Capital Markets
We help capital markets leaders achieve the right mix of data management services and business process automation, setting them on the road to high performance.

Insurance
Accenture helps insurers achieve high performance in order to deliver quality products at low cost, enabling market differentiation without back-office complexity.

Our Financial Services group focuses on the opportunities created by our clients' needs to adapt to changing market conditions, including increased cost pressures, industry consolidation, regulatory changes, the creation of common industry standards and protocols, and the move to a more seamless and interconnected industry model. We help clients meet these challenges through a variety of services and solutions, including outsourcing strategies to increase cost efficiency and transform businesses, and customer relationship management initiatives that enable them to acquire new customers, retain profitable customers and improve their cross-selling capabilities.

Client Successes:

Accenture worked with Standard Bank, one of South Africa's largest financial services institutions, to create a new human resources environment using SAP HR.

While four banks were being amalgamated to form ABSA in 1991, the bank's lagging performance contributed to a loss of market share. ABSA teamed with Accenture to set new standards for customer service and less expensive borrowing.

Accenture, was already helping the JSE Securities Exchange when it was asked to do a feasibility study and identify strategic projects to implement JSE's vision. This led to business process outsourcing as a solution.

Accenture was chosen to implement a client data warehouse for Sanlam to boost its customer relationship management.

Discover how Accenture partnered with Standard Bank to formulate a strategy for the development of the marketplace through IT strategy and transformation.