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TECHNOLOGY VISION FOR BANKING


Platform Economy: It’s time for banks to join in and welcome others

Banks need to develop a solid platform strategy focused on business benefits and better experiences for customers, employees and partners

Overview

Trend 1: Platform Economy

Digital platform business models—those that connect two or more buyers and sellers in highly scalable ways—are changing the way companies can do business and succeed in the digital age. 

Digital platform providers create entire ecosystems of diverse, multiple players on top of their core businesses that open up new paths to growth. Banks that are ready to participate within a conglomeration of partners under digital platform business models will be relevant at all times, for all financial and non-financial services, with consistent and fulfilling customer experiences in both the digital and physical spaces. 

To learn more:

DOWNLOAD TREND 1 REPORT

83% of banks believe platforms will be the “glue” that bring organizations together in the digital economy

How Ready Is Your Bank?

Banks should begin to develop a solid platform strategy focused on business benefits and more compelling experiences for customers, employees and partners.

In particular, they should operate across a combination of five key roles:

Relationship player
Relationship player

Banks own the relationship with customers, leveraging partners to provide solutions.
Platform provider
Platform provider

Banks provide a platform for sellers, buyers and content providers to interact.
Core financial services utility/manufacturer
Core financial services utility/manufacturer

Banks provide traditional financial services.
Innovation playmaker
Innovation playmaker

Banks participate in digital banking systems, using a full spectrum of approaches to provide capital and to enter new businesses.
Digital ID enabler
Digital ID enabler

Banks operate a secure platform, offering consumers access to digital commerce.



Read more about the roles banks can play by downloading the report:

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Authors

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Steve Westland

Managing Director
Accenture Strategy - Technology Strategy
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Emmanuel Viale 

Managing Director
Accenture Technology Labs—Europe
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Schira Lillis

Principle Director
Global Financial Services Research
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