May 13, 2015
Accenture and Moven Join Forces to Transform Digital Banking Solutions
Companies to help global banks develop innovative banking offerings and provide new end-to-end digital solutions
SAN JOSE, Calif.; May 13, 2015 – 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.
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.”
Accenture is a global management consulting, technology services and outsourcing company, with more than 323,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com.
Accenture Interactive, part of Accenture Digital, helps the world’s leading brands drive superior marketing performance across the full multichannel customer experience. Accenture Interactive offers integrated, industrialized and industry-driven digital transformation and marketing solutions. To learn more follow @AccentureSocial and visit www.accenture.com/interactive.
Moven is the first banking service that provides real-time behavioral feedback and instant receipts to help customers make smarter decisions and save more. Moven customers receive a debit MasterCard tied to an FDIC-insured account with no monthly fees, as well as instant spending feedback and savings tools built right into the account. Moven’s innovative financial wellness app and debit card is currently available for iPhone and Android users.
To sign up, visit Moven at www.moven.com or download the free app for iOS or Android. Connect with us on Twitter @getMoven.
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