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Seizing the initiative in banking...Banks today are under greater pressure
than ever to achieve high performance.
This means reducing their cost base
while simultaneously increasing their
customer focus. The challenge is to
improve service delivery and market
responsiveness, but with no loss of
operational agility.
Simultaneously achieving these appar-
ently conflicting objectives at the same
time is not easy. Put simply, how can
banks cut costs without damaging their
capabilities and future growth potential?
Accenture’s experience and research
into the attributes that drive high
performance in banking confirm that
the most effective route to achieving
these goals is to industrialize banking
operations.
...through industrialization
In Accenture’s view, banks that success-
fully industrialize their operations will
be positioned to be tomorrow’s high-
performance businesses. And although
these winning banks will have widely
differing strategic objectives, they will
each share three core characteristics.
First, they will be more differentiated
on the outside than their competitors.To pull ahead of the competition and
maintain their lead, banks must formu-
late and execute a distinctive strategy
that differentiates them in the eyes
of their customers. Whether this dif-
ferentiation is created by having better
products, services or distribution, there
has to be something about a high-per-
formance bank that makes it unique in
its marketplace.
Second, they will be more simplified
on the inside in terms of their operating
model. Complexity is the enemy of speed
and efficiency, and few global industries
are as complex as financial services.
Banks that succeed in simplifying every-
thing—products, processes and systemsacross the entire organization—will be
well placed to become high performers.
Third, they will be outstanding at
execution, demonstrating not only
higher operational performance but
also excellence in the delivery of com-
plex business change. Leading financial
institutions understand the absolute
need to prioritize execution as a core
capability. This means achieving excel-
lence in executing business processes
as well as in planning and managing
investments and change programs
across the organization.
Accenture believes that the next gen-
eration of high-performance banks willbe industrialized—meaning they will be
defined and driven by these three core
characteristics. As a result, they will be
able to reduce costs without damag-
ing their future growth potential. The
question for many banks is how to
make the transition to industrialized
banking. Accenture has an answer.
Alnova Financial Solutions delivers
high performance by industrializing
banking operations
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Alnova Financial SolutionsTM—which
is owned by Alnova Technologies
Corporation, S.L., a subsidiary of
Accenture—is Accenture’s core banking
solution that enables banks to drive
their own destiny and navigate their
journey to high performance. Alnova
Financial Solutions helps banks achieve
high performance by giving them a
clear, comprehensive and direct routeto the industrialized banking opera-
tions of the future. This route has been
tested and proven by well over a hun-
dred banks in more than 20 countries,
some of them servicing more than 10
million customers each.
These banks are now achieving clear
benefits in terms of business results.
At the same time, Accenture’s global
reach, technological expertise and deep
industry knowledge have enabled suc-
cessful execution of Alnova Financial
Solutions implementation projects.
What is Alnova Financial Solutions?
Alnova Financial Solutions is a modu-
lar core banking solution that supports
real-time processing, integrated chan-
nel delivery and customer relationship
management. Developed for banks that
want more than an off-the-shelf solu-
tion, it is one of the most completetechnology platform solutions avail-
able and is designed to help embed the
most efficient way of running banking
operations. To achieve this, Alnova
Financial Solutions is implemented
by Accenture.
By working with Accenture, each
client gains a tailored, state-of-the-art
solution that supports process-driven
transformation of its operations, open-
ing the way for it to become an industri-
alized, high-performance bank through a
manageable, phased approach. Whether
the transformation is total or modular,
Alnova Financial Solutions provides the
foundation for a clear and executableroad map that allows the bank to gain
greater operational agility while evolving
at its own pace and at a competitive
total cost of ownership (TCO).
Driving business results
The benefits delivered by Alnova
Financial Solutions are underpinned
by its unique combination of features
and capabilities. Covering the full
spectrum of universal banking needs,
it is a highly integrated solution offer-
ing browser-based and smart-client
application options to achieve seam-
less coordination across multiple
delivery channels.
We have already said that Alnova
Financial Solutions embeds the most
efficient way of running a bank. But
what does this mean in terms of per-
formance figures? Accenture’s experi-
ence shows that Alnova FinancialSolutions can help banks achieve
competitive cost-efficiency ratios:
major clients today are averaging
percentages in the low-to-mid 40s.
The accompanying information panel
describes some case studies of busi-
ness outcomes delivered.
Alnova Financial Solutions:Supporting high performancethrough industrialization Providing key features
Taken together, these proven capabilities
and outcomes position Alnova Financial
Solutions as an industry-leading, end-
to-end and reusable core banking solu-
tion that performs servicing and manu-
facturing with scale efficiency.
Alnova Financial Solutions:
• Is an evolving asset (see information
panel on innovation). Examples of
innovations include applying service-oriented architecture (SOA) and
business process management (BPM)
techniques through an ongoing series
of releases to become the core of
a process-centric banking solution
based on the Accenture model of a
high-performance bank.
• Provides a comprehensive front-end
solution based on a powerful multi-
channel architecture, industrializing
the sales process while enabling the
bank to offer its customers a seamless
experience across all channels. It also
offers comprehensive, SOA-based
banking functionality for integra-
tion into portals and third-party
front ends.
• Encompasses a dedicated banking
customer relationship management
solution that allows the bank to
identify and focus on the needs of discrete client segments.
• Uses a core reference version with
localization and functional delivery
accelerators to support clients’
varying strategies, requirements
and business models.
• Offers predictable, progressive
implementation processes that align
the IT transformation with the oper-
ational model by applying Accenture’s
expertise in banking industry and
systems integration projects.
• Benefits from Accenture’s proven
systems integration methods, tools
and accelerators—and from access
to the Accenture Global Delivery
Network. This differentiated capa-
bility helps the client bank realize
both project and operational cost
advantages without the heightened
geographic risk associated with usinga purely offshore-based systems
integration provider.
Differentiation
Simplification
Execution
Mastery
Analytical CRM
M&S
General Ledger
Risk Management
Collateral Management
Resource Planning
AutomaticClearing House
SWIFT
Central Bank
External
Institutions
External Services
Deposits
Lending
Payments
Cards
Capital Markets
Leasing
Factoring &Confirming
Trade Finance
Insurance
Mutual Funds
Securities
Pension Plans
Product Factory Fees Factory
CustomerInformation System
Operational CRM
Corporate Data Integration Rules
Mobile • PDA • Kiosk • Call Center • Brochures • Internet Bank ing • ATM • POS
Multichannel Architecture
Operational Management
Core Functionality Expanding Functionality
DocumentManagementReportingMailingPrinting
Information Center Institutional
Relationship
Factories
= Third-party software within alliance network
Figure 1:
How Alnova Financial Solutions application architecture helps industrialize banking operationsAlnova FinancialSolutions canhelp banks achievecompetitive cost-efficiency ratios.
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Creating proven competitive edge
Alnova Financial Solutions unites and
leverages all these features via an
integrated, consistent solution spe-
cifically tailored to the bank’s unique
needs, enabling it to move at its own
pace toward the industrialized model
that drives high performance. Alnova
Financial Solutions achieves this by
harnessing three key advantages:
1. State-of-the-art, industry-spe-
cific technology—Alnova Financial
Solutions has always been regarded
as a state-of-the-art solution. Sinceits inception 15 years ago, it has been
revolutionary in facilitating customer-
centricity and using layered technical
architecture, among other innovations.
Now it is evolving into a process-
centric solution that enables banks
to keep pace with internal priorities
and external market demands. Alnova
Financial Solutions uses proven indus-
try processes, frameworks and refer-
ence catalogues provided together with
the software, while also capitalizing on
ongoing technical innovations as they
emerge, such as BPM and SOA.
2. A unique combination of flexibility
and control—Alnova Financial Solutions
delivers business services and business
processes that can be integrated flex-
ibly with legacy solutions. This flexibility
means that implementations can range
from enterprisewide transformation
programs to more focused, step-by-step change projects. Alnova Financial
Solutions empowers the bank to con-
trol its own development and business
direction by tailoring the solution to fit
its environment at a competitive and
controllable TCO. To maximize this flex-
ibility, source code is provided to client
banks to help them integrate applica-
tions and processes as efficiently and
effectively as possible. The resulting
blend of flexibility and control opens
the way to pervasive business benefits,
including: speeding up time-to-market
for new products by up to 75 to 80
percent, helping to lower cost/income
ratios by several points (which has now
been shown to generate an average
improvement of 10 to 15 percentage
points over five years), and helping the
bank achieve faster and more profitable
growth thanks to better execution of
strategy due to more precise manage-
ment and control of the business rules.
Accenture is committed to Alnova Financial Solutions and
its evolution. For 15 years, Al nova Financial Solutions has
continuously been providing state-of-the-art functional and
technical concepts for banking:
• A customer-centric, modular solution for banking
operations.
• Technological flexibility. Business applications are iso-
lated from environmental changes.
• The product factory concept. Products are created and
activated in real time, allowing faster product creationthrough copy-and-paste functionality and enabling a dra-
matically improved time-to-market.
• Online and real-time processing. Services can be moni-
tored and systematically improved.
• Business process automation. Straight-through process-
ing (STP) and other forms of automation help minimize
duplicate entries and human intervention.
Key developments have included incorporating new technolo-
gies such as Microsoft .NET and new concepts such as com-
ponent-based approaches and multichannel architecture.
We have also added new functions and capabilities such as
integrating customer relationship management (CRM) intel-
ligence into core banking processes and product applica-
tions, ensuring that key commercial CRM attributes such
as customer segment and channel or geographical area are
embedded throughout the core banking system. As a result,
the commercial banking decisions and rules are automaticallyextended and applied all along the value chain.
More recent steps forward have included the systematic
incorporation of BPM and SOA.
Alnova Financial Solutions: a track record of innovation
The flagship banking market where Alnova Financial Solutions
initially proved its worth was Spain—one of the most price-
and cost-competitive markets in Europe. Spain has one of the
most efficient banking industries, both in terms of business
and IT efficiency (with cost/income ratios in the mid-40s
when the European average is the mid-50s). The success of
Alnova Financial Solutions in the Spanish banking market
springs primarily from three factors: its customer-centric
model, intensive use of innovative technology and a high
degree of operational standardization. For clients, the ben-
efits realized following implementation include major opera-tional gains and significant reductions in costs.
One major Spanish savings bank used Alnova Financial
Solutions as the engine for the replacement of its core
banking system and for the migration to a new operat-
ing model involving process and product transformation, as
well as a back-office reengineering project that took busi-
ness back-office operations staff down to 4 percent of total
headcount. As a result, over six years the cost/income ratio
plunged from 72.2 percent to 42.6 percent.
Another leading international bank has implemented Alnova
Financial Solutions as a single multi-country platform to
support its international expansion, with a single operat-
ing model for Latin American countries and new product
development capabilities that reduced time to market by 75
percent to 80 percent. Its six-year cost/income ratio fell from
60.7 percent to 37.9 percent.
Following the proven delivery of business benefits among
Spanish, UK and Latin American banks, other banks around the
world are making increasing use of Alnova Financial Solutionsto power their drive toward high performance. Major transfor-
mation projects using Alnova Financial Solutions as the core
enabler have been executed successfully in many countries,
with recent examples including BAWAG P.S.K. (Austria) and
PKO Bank Polski (Poland), to name just two.
Alnova Financial Solutions in action: case studies
3. Credibility and predictable
outcomes—Alnova Financial Solutions
is a proven solution that helps banks to
achieve predictable outcomes and sup-
ports business strategies at minimum
risk. Having been used successfully by
more than 100 banking industry clients
in over 20 countries, Alnova Financial
Solutions employs proven functional
and technical accelerators—including
frameworks, testing kits, and conver-
sion or database tools—to help enable
delivery success. By providing a sys-
tematic, standardized, robust, flexible
and customizable platform, AlnovaFinancial Solutions also facilitates
the integration of newly acquired or
greenfield operations and can and can
reduce the risk inherent in mergers,
acquisitions and international expan-
sion strategies.
Delivering ongoing support and
innovations
Going forward, Alnova Financial
Solutions will continue to offer cutting-
edge innovations. Accenture has been
leading the way in key areas of bank-
ing technology, and our track record of
innovation will continue into the future,
benefiting Alnova Financial Solutions as
well as its new and existing clients.
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For 15 years, Alnova Financial
Solutions has been providingstate-of-the-art functional andtechnical concepts for banking,and our track record of innovationwill continue into the future.
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Differentiation
Simplification
Execution Mastery
Profitable growth
Customer retention
Optimized cost structures
Improved resourcesassignment
Business execution
Transformation processes
• CRM tools and customer-centric applications• Flexible product configuration
• Customer-oriented evaluation tools• Pricing based on segmentation schemes• Complete multichannel capabilities
• High data volumes with maximum scalability• Flexible, industrialized M&A and
international expansion engine• High level of automation• Parameterized, customer-oriented processes
for back- and front-office scenarios
• Single customer experience through all channels• Improved financial results and risk exposure
due to precise management of business rules• Improved credit quality• Minimized delivery risk: accelerators,
frameworks and predictable outcomes
• Faster speed-to-market
• Improved cross-selling ratios
• Improved quality of service
• Better customized offers to clients
• Scalability: from 100K to +10M customers
• Cost/income ratio improvements• Improvement in commerical productivity• Optimized staff distribution: branch and back-office
• Profitable growth: organic and inorganic growth with
controllable headcount increase
• Improved IT efficiency
• Improved reputation with clients and investors
• Maximum availability levels
• Predictable delivery risk
Our value proposition... ...through... ...which provides...
In a bank’s migration to a more efficient
and effective operating model, Alnova
Financial Solutions helps it to introduce
new processes and functionality to
achieve defined business goals. At the
same time, Alnova Financial Solutions
allows synergies to be identified and
realized across the organization.
In doing so, Alnova Financial Solutions
provides a degree of control, flexibility,
integration and operational coherence
that we believe is unrivalled by any other
solution. Alnova Financial Solutions
enables a bank to achieve high standardsof efficiency, functional and technical
scalability, customer-centricity and com-
mercial productivity.
Implementing and customizing Alnova
Financial Solutions with Accenture
Accenture has the knowledge, experi-
ence and assets needed to help banking
businesses realize their full potential and
achieve high performance. Leveraging
the strength of knowledgeable banking
and IT transformation people, Alnova
Financial Solutions is the result of over
15 years of experience in providing inno-
vative solutions for the banking industry.
Accenture Financial Services has more
than 2,500 professionals with core
banking and Alnova platform expertise
to support Alnova Financial Solutions
projects. Our professionals’ work is
complemented by nearshore and offshore
capabilities at Accenture Delivery Centers
in Buenos Aires, Madrid, Manila, Warsaw
and elsewhere. Our experienced profes-
sionals are specialists in:
• Program and project management.
• Banking processes and business
architectures.
• Product development.
• Product-oriented consulting services.
• Delivery services: customization,
testing, data conversion and more.
• Technology support and more.
Independent commentators confirm
Accenture’s continued global leadership
in terms of major systems integration
projects. In 2008—for the second year in
a row—the respected IT market research
firm IDC named Accenture the worldwide
leader in systems integration services.
The combination of Accenture experi-
ence and Alnova Financial Solutions
is enabling banking organizations
to demonstrate superior business
outcomes and sustain their journeys
toward high performance.
Beginning the journey…
The customized implementation of
Alnova Financial Solutions is help-ing a significant number of banks to
succeed in their respective business
strategies and continually demonstrate
superior performance.
Alnova Financial Solutions puts your
bank in control of its own destiny—
with an industrialized solution tailored
to help you with your current needs
and strategies for the future. Let
Accenture experience help you succeed
in making strategies into realities.
Realizing the benefits of Alnova Financial Solutions
Figure 2:
Examples of Alnova Financial Solutions value propositions and benefits delivered
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Copyright © 2008 Accenture
All rights reserved.
Accenture, its logo, and
High Performance Deliveredare trademarks of Accenture.
About Accenture
Accenture is a global management
consulting, technology services and
outsourcing company. Combining
unparalleled experience, comprehensive
capabilities across all industries and
business functions, and extensive
research on the world’s most success-
ful companies, Accenture collaborates
with clients to help them become
high-performance businesses and
governments. With more than
186,000 people in 49 countries, the
company generated net revenues
of US$23.39 billion for the fiscal
year ended Aug. 31, 2008. Its
home page is www.accenture.com
Copyright © 2008 Alnova Technologies
Corporation. All rights reserved.
For more information on Alnova
Financial Solutions, please visit
www.alnovatech.com.
Alnova Financial Solutions is aregistered trademark and product
owned by Alnova Technologies
Corporation, an Accenture subsidiary.
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