Accenture (NYSE:ACN) and Moven, the world’s first banking service to provide real-time behavioral feedback to help customers change their spending habits and save more, have signed a services agreement to jointly develop next-generation digital banking solutions. In conjunction with the services agreement, the companies have also entered into an alliance agreement to provide digital banking solutions to banks globally, enabling the banks to launch new digital capabilities faster and more cost-efficiently and deliver innovative digital products and services to their customers.
“Moven is an innovator in digital banking, and we are pleased to work with them to bring banks solutions that can help them raise the bar in customer experience and operate in the digital era.”
Through the services agreement, Accenture and Moven will collaborate on design and implementation services for developing new digital banking capabilities — such as next-generation account opening, biometric authentication, real-time marketing — and help improve the overall service experience for Moven’s end-users.
The alliance leverages Moven’s leading mobile-centric banking app and financial wellness solutions and Accenture’s banking industry experience, system integration knowledge, as well as its digital capabilities and digital customer focus provided through Accenture Interactive and Fjord, Design and Innovation from Accenture Interactive. The two companies have already signed a contract with a bank since forming the alliance.
“We set out to change what the world thinks of as a day-to-day bank account, starting from scratch with mobile, and providing customers with advice on spending and savings,” said Brett King, Moven’s CEO and founder. “The alliance with Accenture will be invaluable in helping us mobilize our services globally as we grow to tens of millions of users in a dozen countries. Accenture's phenomenal footprint with the biggest banks in the world, combined with the digital and end-user experience from Accenture Interactive and Fjord, made it the only choice for this global alliance partnership."
“As the digital era accelerates the pace of change, with faster innovation cycles and technology adoption, banks will need to embrace and implement digital innovation, including from leading disruptors, at faster speed if they want to remain relevant to their customers,” said Joydeep Bhattacharya, a managing director within Accenture Interactive, part of Accenture Digital. “Moven is an innovator in digital banking, and we are pleased to work with them to bring banks solutions that can help them raise the bar in customer experience and operate in the digital era.”
Piercarlo Gera, global senior managing director, Banking, Accenture Strategy, said, “Banks can learn a lot from digital disrupters such as Moven, and those that move quickly to harness the power of digital technologies can drive growth by reaching new customers and improve customer engagement by offering new services. Our alliance with Moven will enable us to help banks benefit from these disruptive innovations, which can help them move away from reactive, transaction-based customer relationships and provide their customers with a more intimate, proactive and personalized experience. The alliance helps achieve the digital transformation strategies that we help shape and execute.”