Accenture Warns Banks Over Digital Finance Challenge

Accenture predicted up to 15 percent of banks’ global payments revenue, or $280 billion, is likely to be captured by new competitors pushing digital alternatives over the next six years.

Research by the professional services company showed the banking industry is expected to face pressure from companies offering a number of different payment options. As an example, it predicted eight percent of bank’s revenue faced a risk from providers offering free payment services.