Core modernisation is no longer an option for banks, it is a necessity to remain relevant and competitive. Many banks still face challenges like poor customer experience, high maintenance costs, slow innovation, integration and scalability constraints, and increased risks. Moving to a modern core addresses these challenges and drives significant upside and cost efficiencies through the improved agility, flexibility, and scalability which is inherent to the modular architecture and cloud-native technology.
To drive transformational outcomes for banks, we are expanding our strategic partnership by combining Vault Core’s capabilities with Accenture’s delivery expertise and core banking knowledge.
Our strategic partnership with Accenture and joint solutions
As our joint product and delivery capabilities have matured, we have continued to collaborate at scale, building assets and new integrations that enable banks to minimise the risks and cost of moving to a modern core. With Accenture, we advocate for a digital, cloud-native core as the foundation of a modern bank and share a clear goal of helping financial institutions innovate for the future.
We have taken some of the world’s largest banks through the modernisation process, including two of the most prominent in the US, and understand the pain points they face when tackling core transformation. Building on this shared knowledge, we have jointly developed the below key assets to expedite banks’ core modernisation journey.
Integrating Vault Core with a fit-for-purpose ecosystem
We teamed up with Accenture to deliver Banking Personalised Experiences on Salesforce. This was the first-ever integration of Salesforce, nCino, and Thought Machine, led by Accenture and powered by Google Cloud Platform (GCP). The solution empowers banks to provide seamless, personalised banking experiences for their customers. It is an operational codebase that enables banks to accelerate their modernisation efforts by establishing a solid foundation for a faster and more efficient process. Learn more about how Banking Personalised Experiences can speed up time-to-market, help mitigate risk, expand business opportunities and improve customer experience here.
Expedited migration to Vault Core:
We have tailored Accenture’s Data Migration Platform (ADMP), a tried-and-tested tool, to support migrations to Vault Core through:
- Data transformation tooling that aligns with the platform’s data structure.
- A bespoke data messenger that communicates directly with Vault Core’s APIs.
- Enhanced reconciliation reporting.
These efficiencies enable a faster go-live by minimising ETL tooling build. We have proven these capabilities through a series of test-and-learn MVPs, on different product types and at different volumes.
Path to value
We spoke to David Parker, global financial services industry practice chair at Accenture, about core modernisation and joining Accenture’s Strategic Partnership Programme. In the video below he discusses the value he sees for the world’s largest banks in modernising their core and the critical importance of embarking on the transformation journey now.
“The focus on building a modern, digital core is at the heart of the agenda to really make a difference for clients”
Accenture’s confidence in Vault Core as a reliable option for an entire Tier 1 bank is key to our joint market success. Our core banking platform provides banks with full control over their modernisation strategy, liberating them from vendor dependency, and allowing seamless coexistence with legacy systems. Combined with this, Accenture brings experience and expertise in de-risking and delivering transformational programmes for banks all over the world.
Watch the video below to learn more about our collaboration and the benefits we are able to offer the world’s largest banks.
