Accenture Acquires Allen International
- by Radu Cotarcea
Accenture has announced on October 18 its acquisition of financial services consultancy for branding, retail environments and digital customer experience, Allen International.
The consultancy is focused on helping banks transform their branch networks and digital capabilities to reduce costs, increase revenues and better engage customers. Allen International has worked with more than 350 banks around the world including nine of the top 20 banks.
Accenture argued that the acquisition further strengthens its Distribution Transformation offering. This will help banks transform physical structures at scale within a sustainable cost structure without losing customer engagement by delivering a seamless, cross-channel experience consumers increasingly expect. It will also allow banks to ensure they have the appropriate digital capabilities to absorb higher volumes as customers shift to using digital over branches.
Sushil Saluja, Accenture Senior Managing Director of Financial Services in Europe, Latin America and Africa, commented: "Threats to profitability mean banks must be clear on what the role and value of the branch is, to ensure it plays the right part in consumer’s lives today. Our acquisition of Allen International will expand and complement our capabilities to help banks make the branch a physical manifestation of the digital experience. Equally crucial it will allow us to help banks reduce their distribution costs, typically by 30%, while still maintaining customer engagement."