Accenture – Future of Banking: It’s Time for a Change of Perspective, Nov 2021

The November 2021 report by Accenture, "Future of Banking: It’s Time for a Change of Perspective," examines the evolving landscape of banking business models amid digital disruption. The study analyzes the business models of nearly 100 traditional banks and over 200 digital-only players across 11 countries, highlighting the fragmentation of the traditional banking value chain and the componentization of key products and services. It identifies two common business models: vertically integrated models, where banks control all layers of the value chain, and non-linear models, where banks unbundle services and collaborate with third parties. The report suggests that by adopting innovative business models similar to those of digital-only players, traditional banks could boost revenues by nearly 4% annually. It emphasizes the need for banks to rethink their business models and embrace new strategies to remain competitive in a rapidly changing market.