Accenture launches emerging technology for financial services industry

China Insurance News [Reporter Kang Min] On February 24 , the Financial Services Division of Accenture ( NYSE: ACN) , a world-renowned consulting firm, announced the launch of a new professional service designed to help financial institutions deploy blockchain technology to improve operational efficiency, security and customer service, and capture new revenue opportunities.

At the same time, Accenture has formed an alliance with blockchain technology developer Digital Asset Holdings, LLC to jointly create innovative solutions for banks, securities firms and IT infrastructure providers, and Accenture will serve as the preferred system integrator to deploy these solutions.

Chen Wenhui, president of Accenture Greater China Financial Services, believes that with the rapid evolution and development of blockchain technology, China's large financial institutions and Internet financial companies have begun to show strong interest in this new technology. Blockchain technology will effectively support the operational transformation of domestic financial institutions, essentially transform the ability to authenticate assets and transactions, and inspire new business models to cope with increasingly fierce industry competition and gradually slowing business growth. On the other hand, the promotion and popularization of this technology in domestic financial institutions will also help Chinese companies go global and promote economic growth.

“Blockchain-based technologies are maturing and poised to deliver significant benefits to the financial services industry over the next decade,” said Owen Jelf, managing director of Accenture’s global capital markets services . “By creating services like these, we can help the industry leverage this innovation at scale and accelerate its transformation. Our recent investment and alliance agreement with Digital Asset Holdings will accelerate the industry’s deployment of blockchain technology, and clients will benefit greatly from our close collaboration.”