Four out of five retail banks project annual growth of more than 5 percent over the next few years, in many cases outpacing projected growth for the retail banking segment in their home markets, according to results of an Accenture (NYSE:ACN) study released today.
Banks worldwide are growing increasingly dissatisfied with their aging core banking systems and plan to update their core technology architecture to remain competitive, according to a global survey sponsored by Accenture and SAP AG. The results of the study were released today at Sibos 2005, the financial industry's leading annual forum held in Copenhagen, Denmark.
Accenture (NYSE: ACN) has signed a five-year contract with ABN AMRO, a leading global bank headquartered in the Netherlands, to bid for the bank’s applications development work worldwide. The agreement further extends the 20-year relationship between the companies.
Despite increased efforts, banks are facing an uphill struggle in preparing for the Basel II Framework, which sets new standards in risk management and capital adequacy, according to results of a survey released today by Accenture.
Many of the worlds largest banks see significant challenges remaining in their preparations to implement the Basel II Capital Accord, according to a global survey of banks sponsored by Accenture, Mercer Oliver Wyman and SAP.
ING Group and Accenture have signed a five-year sourcing contract under which Accenture will manage ING Flexforce, a new service that provides ING Intermediair with complete management of its temporary insurance workforce in the Netherlands. Terms of the deal were not disclosed.
Barclays in the UK has signed a six-year contract worth more than £400m to outsource information technology (IT) application development and management related to its UK-based commercial and retail banking systems to Accenture (NYSE: ACN).
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