The document summarizes the key findings of Accenture's 2016 Technology Vision report for the banking industry. It identifies five technology trends that will be essential for banking success: 1) the platform economy, where banks can create value by joining digital platforms and ecosystems, 2) digital trust, where banks must strengthen ethics and security to rebuild customer trust, 3) liquid workforce, utilizing flexible teams focused on business outcomes, 4) intelligent automation, using AI and automation to improve operations by working with people, and 5) predictable disruption, where banks must proactively monitor digital ecosystems to anticipate changes. The report provides analysis and recommendations for how banks can adapt to these trends.

1. People First: The Primacy of People
in the Digital Age
2016 Accenture
Technology Vision
for Banking

2. 2016 Accenture Technology Vision for Banking
Intelligent
Automation
Liquid
Workforce
Platform
Economy
Predictable
Disruption
Digital
Trust
Copyright © 2016 Accenture. All rights reserved. 2
The Accenture Technology Vision 2016 identifies five technology trends fueled by the people first principle
and that are essential to banking success in the digital economy.

3. The Platform
Economy
It’s time for banks to join
in and welcome others
3Copyright © 2016 Accenture. All rights reserved.
New technology
platforms have the
power to drive banking
innovation
• 83% believe platforms will be the “glue” that bring
organizations together in the digital economy
• 46% believe adopting a platform-based business
model and engaging in ecosystems of digital partners
to create value are very critical to their business
success
• 59% are already investing in a competitive digital
technology program as part of their business strategy.
• 52% percent expect to be working with new digital
partners in their industry in the next two years; 42%
expect to be working with new digital partners outside
the industry.

4. The value for banks is being fueled by three key
natural traits
4Copyright © 2016 Accenture. All rights reserved.
Distribution Power Law
Enables scale by allowing non-
financial services providers in the
network to draw on bank customer
data in ethical and secure ways to
generate new revenue in the ‘long
tail’ of the distribution curve—
avoiding diminishing returns
associated with traditional value
chain models.
Network Effects
Two user groups generate
network value for each other,
resulting in mutual benefits
that drive demand-side
economies of scale.
Network Synergy
Cross-industry, mutually-benefiting
synergies around growth and
competitiveness arising as the
right participants come together,
link their products/services and
create a marketplace that satisfies
a specific customer need that
would be cost-prohibitive to do
alone.

5. How should banks
participate?
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Banks should consider operating across a
combination of five key roles:
• Relationship player. The bank owns the
relationship with customers, leveraging partners to
provide solutions.
• Platform provider. The bank provides a platform
for sellers, buyers and content providers to interact.
• Core financial services utility/manufacturer. The
traditional role of banks in providing financial
services.
• Innovation playmaker. The bank participates in
digital banking ecosystems, using a full spectrum of
approaches to provide capital and to enter new
businesses.
• Digital ID enabler. The bank operates a secure
platform, offering consumers access to digital
commerce.

6. Digital Trust
Erase the trust
paradox in banking
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Banks’ digital
trust paradox is
unsustainable
• 84% of bankers agree trust is the cornerstone
of the digital economy
• 86% of consumers in North America trust their
bank over all other institutions to securely
manage their personal data
• Customers rank financial services companies
among the least trusted by customers to
behave in ethical ways.
12015 North America Consumer Digital Banking Survey
22015 Edelman Trust Barometer Report

7. (Re)building bank
customer confidence
relies on two major
components:
Ethics and Security
7Copyright © 2016 Accenture. All rights reserved. 7
A culture of ethics in banking requires
decisive actions in key areas:
• Communicate clearly to consumers on
customer data being collected, for what purpose,
who can access it legally and how it will be used.
• Use data primarily to offer customers
reciprocal benefits that are directly relevant to
the data and service being provided.
• Be responsible to accurately collect, manage
and access customer information, with
accountability for the use of data.

8. Banks can combine ethics with stronger security
strategies toward higher digital trust:
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Adopt a zero-tolerance
approach with a cyber-
risk appetite in moving
toward open and
ecosystem banking.
Incorporate next-
generation security
mechanisms in
managing data
security risks.
Rethink identity and
access management,
using more innovative
techniques.
Integrate security
solutions—such as
security-aware
application design,
integrated database
security and others—
into new products.
Identify indicators of
risky insider activity to
detect early signs of
possible fraud or
criminal activity.

9. Liquid
Workforce
Bank on “fluid” teams
focused on results
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Banks realize a
“liquid” workforce is a
competitive advantage
74% of bank executives believe that a more “fluid”
workforce would improve innovation.
55% of jobs in banks that have a digital component
today (compared to 50% across all industries);
bank executives expect this number to increase to
61% in three years.
75% of banking executives believe in three years
the proportion of workers will shift towards more
multi-skilled, flexible employees.

10. To start and progress their
digital transformation,
banks must develop new,
more fluid, workforce
strategies
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Skills
Build learning as a
core competency in the
organization to actively
generate skills that are
in demand.
Projects
Use technology to
coalesce and disband
internal and external talent
at your disposal for new
innovative projects.
Organization
Optimize workforce
responsiveness with
insightful analytics that
provide a real-time view
of organizational
capabilities.

11. 11Copyright © 2015 Accenture All rights reserved.
Forward-thinking banks will go
further to organize their workforces
around business outcomes and
business services (ex, giving
customers a unified view of their
financial picture), relying on:
Best-fit
delivery
approach with
“multi-speed”
features
Bank’s
committed
investment
Value for
the
customer
Service
structured
around an
outcome
Knowledge
and skills to
deliver and
sustain it
• Small teams that support the evolution
of the outcome
• Hard and soft skills—particularly,
communications and collaboration—
development and diversity embedded
into the team
• External skill sources, such as
freelancers, contractors,
crowdsourcing, application developers
and traditional outsourcers, to
supplement the core internal
workforce

12. Intelligent
Automation
The essential new
co-worker in digital
banking
Banks have an
opportunity to improve
operations
• 86% of bank executives agree the widespread use of
artificial intelligence (AI) provides for a competitive
advantage beyond cost.
• 77% expect AI will be a significant change or complete
transformation for banking over the next three years
• Banks plan to use cognitive information systems or
increase intelligent automation:
- Knowledge worker tasks (91%)
- Customer interaction/experience (88%)
- IT tasks (90%)
- Embedded AI solutions (80%)
- Machine learning (79%)

13. Better
outcomes
Banks can drive more value by pairing
Intelligent Automation with people
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Faster
decisions
Machines analyze banks’ massive data
simultaneously in seconds to be used by bank
advisors to offer more personalized service.
Greater
efficiency
Automate, speed up and off-load more routine
tasks and free executives to focus on higher-value
functions.
Highly-tailored
customer
service
Machines quickly access and analyze Big Data to
verify customer identity, understand problems, find
solutions, recommend services and hand off to a
human specialist.
New ways of
working
Machines analyze job applicant traits to predict
which ones will leave and recommend retention
strategies—insights that HR managers can use to
personalize employee programs.
Capture new
revenue
Serve low-to-medium net worth customers with a
personal touch which banks could not do profitably
in the past.
People + machine possibilities

14. Rally the troops. Leaders must be advocates for doing things differently as humans and machines work
together more collaboratively.
Sharpen the human edge. Revise the organization’s talent development programs to reflect the more
strategic work that people will perform.
Close the trust gap. Leaders can grow middle managers’ trust of intelligent systems by choosing
systems with proven track records.
Chart a course of discovery. Create a union of managers and machines that multiplies the value that
each are able to deliver alone.
Four ways banks can create more productive
relationships between people and machines
14Copyright © 2016 Accenture. All rights reserved.

15. Copyright © 2016 Accenture All rights reserved.
Predictable
Disruption
Banks need to be
proactive to spot the
next wave
15Copyright © 2016 Accenture. All rights reserved.
• 85% of bankers agree that bank industry boundaries
are being erased and new paradigms are emerging
with every industry being significantly impacted
• 45% of bankers say financial services companies are
going through significant digital business
transformation or digitally-enabled change
• 27% of bankers believe the industrial Internet/Intranet
of Things will cause a complete transformation of the
industry
Fast-emerging, cross-
industry digital
ecosystems likely to
usher new disruption
for banks

16. The opportunity? Predicting digital disruption
in banking
Copyright © 2016 Accenture. All rights reserved. 16
Large, traditional banks with strong consumer
and corporate customer relationships across
industries are particularly well placed to watch for
and recognize three indicators of ecosystem-
driven disruption:
Rapid growth and patterns of digital
ecosystems inside and outside of banking.
Shifts—gradual or sudden—in consumer
income and spending that may indicate needs
and point to new bank products or services.
Use of new technologies, such as the Internet of
Things, to reshape industry processes, products
and services.

17. • Envision your role, and new partnering relationships, in
the next phase of economic disruption.
• Pilot an initial foray into a digital ecosystem, targeting
one business process, product, or service best aligns with
your prioritization of potential disruptions.
• Create new metrics to measure success in digital
ecosystems by extracting insights from your pilot to
uncover potential indicators.
• Identify new skills demanded to support the expansion of
your digital ecosystem strategy, and develop a plan to
acquire these high-priority skills.
• Continue to increase information security, boosting
investment in machine-to-machine security and
authorization technologies to support ecosystem-driven
innovation.
Copyright © 2016 Accenture. All rights reserved.
With predictive capabilities, banks can develop
strategies to forge new roles and new paths

18. 18Copyright © 2015 Accenture All rights reserved.
to learn more, visit
www.accenture.com/bankingtechvision