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Accenture bets on fintech and launches a digital hub in Italy

Accenture plans to be at the very center of digital transformation in Italy. In this regard, the company has recently acquired Sec Servizi and integrated in the Financial Advance Solutions & Technology hub. The new hub will leverage Accenture’s solutions as well as technological expertise and knowledge of the financial sector and the Italian and international markets.

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Accenture launches an innovation hub for solutions and services dedicated to the financial market. The “Financial Advanced Solutions & Technology”, a newco – is the result of the acquisition of Sec Servizi from Intesa Sanpaolo – fully controlled by Accenture, which aims to be at the center of an ecosystem composed of the main technological and digital players, fintech and regtech, institutions and academia.

The “hub” will be located in various locations in Italy, starting from Padova and Milan, and will employ specialized resources in the world of banking and finance.

“Accelerating the digital transformation in the financial services sector in Italy can create a value of about $35.2 billion (€30 billion) over the next 5 years – underlined Massimiliano Colangelo, Financial Services Lead of Accenture – Our ecosystem initiative, therefore, responds to the need for a market – the financial one – central for the economy and for the restart of the country, provided that it can speed up its path of innovation.”

Read more about Accenture and its plans to accelerate digital transformation and find the most important business news of the day with our companion app, Born2Invest.

Accenture wants to be at the center of digital transformation on a national and international level

The new hub will leverage Accenture’s solutions as well as technological expertise and knowledge of the financial sector and the Italian and international markets. All through integration with the company’s global network of innovation and excellence centers. The objective is to leverage partnerships and alliances to create and scale new models of collaboration capable of increasing the performance of financial market players in terms of efficiency, competitiveness, security, and value creation.

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According to the results of the latest analysis conducted by Accenture, new technologies are increasingly a priority for banks and insurance companies and the market will accelerate investment in digital transformation. 

In particular, 86% of players in the Italian financial market will completely rethink the way it interacts and communicates with clients, also in light of the accelerated use of digital channels experienced during the lockdown. 73% will completely overhaul processes and operating models to be more resilient, to support new service models, and to deal more agilely with market volatility. Meanwhile, 64% will reshape the work dynamics by structuring the smart-working experience implemented in emergencies during the pandemic crisis, rethinking how people work, and stimulating change in corporate culture and mentality.

Five components on which the new hub will focus, starting from Advanced IT Services, modular application, and technology services that cover all the operational phases of banks and insurance companies, to support fast, agile and sustainable growth through the cloud and new technologies.

Determining the Intelligent Operations for the management and transformation of operations to support the entire value chain of the company, with services based on the combination of human ingenuity, data, and intelligent technologies. 

The company also delivers comprehensive, customized solutions that help banks and insurance companies design end-to-end business services and transformation as well as pathways to train people and prepare organizations for change. Furthermore, the project also moves from agile co-creation of innovative prototypes and scale-up integrated with the client’s business platform, in full integration with the global network of innovation centers.

Last but not least the Regulatory services, data driven consulting services applied to the regtech world and specialized skills and for the strengthening and support of business control functions and regulatory monitoring processes.

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(Featured image by Roy via Pexels)

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First published in CORCOM, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Anne Kings is a reporter for the financial sector, often tackling Wall Street and shareholders' interests. She also covers the intersection of media and technology, and delves into interesting topics on entertainment. Sometimes she also writes about the cannabis industry, in particular CBD and hemp. She is currently based in New York.