The banking industry has never seen more disruption—new, innovative challengers and advanced technologies are changing market structure and taking a bite out of revenues. In fact, 17 percent of industry players that entered banking over the last 13 years have grabbed one-third of revenue growth in Europe. For incumbents, the time to act is now. Simply becoming a digitally better version of themselves isn’t enough to turn the tide. Like their competitors, banks need to become more relevant and harness digital to drive growth, they must rethink their “North Star” business models and be bold in reorienting their organizations—or they risk being left behind as the industry changes around them. That’s where Accenture Banking comes in. Whether we're helping modernize core banking operations, turn a mobile banking experience into a social one, or reinvent payment and credit models, our banking consulting services empower clients with data-driven insights and the right tools to adopt a mindset fit for today's—and tomorrow’s—digital landscape.
A report from Accenture titled , " Within Reach " , states that banks could tap into $ 380bn in market revenue , " by targeting micro - enterprises and bringing unbanked and underbanked adults into the formal financial system " . The report goes on to explain that a large portion of this potential revenue can be generated by banks offering mobile banking services , particularly to those in underdeveloped areas of the world , including large parts of Africa . It highlights Zambia National Commercial Bank , which has many mobile banking customers , who previously had no access to traditional financial services . Alibaba in China is also highlighted , for using customers ' commercial transactions recorded on its e - commerce platform to create credit records , and then conducting SME lending .