Accenture’s core banking system, Alnova Financial Solutions™, received the XCelent Functionality Award for breadth of functionality in Celent’s latest reports on global core banking solutions for large and midsized institutions.(1) It also ranked second in North America sales rankings among seven solutions.(2) Celent is a leading industry analyst firm focused on the application of information technology in the global financial services industry.
Alnova, developed by Accenture Software, earned the XCelent award for “Breadth of Functionality” based upon its range of advanced front- and back-office functionality and diversity of lines of businesses served. Alnova also scored well in the technology category, according to the reports.
“We are honored that Alnova has been recognized for the strength of its functionally,” said Paolo Maresca, head of Accenture Software for Banking. “This award reflects our commitment to core banking innovation and to delivering technologies that directly address the challenges banks face in the new market environment.”
“Core banking renewal, whether it is done incrementally or as a total replacement, has the potential to provide immediate and sustainable growth and efficiency benefits to banks, but only when supported by the right technology,” said Juan Pedro Moreno, global managing director of Accenture Core Banking Services. “Our goal is to provide clients with a range of flexible, functionally-rich solutions that help banks become more efficient and customer centric in today’s cost-intensive and competitive environment.”
Core banking systems are sophisticated technology applications that support banks’ primary services -- from deposit gathering, lending and mortgages to checking, savings, ATM and credit card services and online and mobile banking. They also support a wide range of regulatory reporting and compliance functions for banks.
Alnova Financial Solutions is a leading core banking solution with more than 100 clients in more than 20 countries, including many of the world’s largest and most successful financial institutions. Most recently, the solution has been adopted by one of the leading banks in the U.S. market.
Celent's XCelent Awards were launched in November 2010 to acknowledge vendor excellence. They are designed to help financial institutions and technology providers stay abreast of industry trends by evaluating the shifting vendor marketplace and awarding technology best practices.
Accenture is a global management consulting, technology services and outsourcing company, with more than 246,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$25.5 billion for the fiscal year ended Aug. 31, 2011. Its home page is www.accenture.com.
Accenture Software combines deep technology acumen with industry knowledge to develop differentiated software products. It offers innovative software-based solutions to enable organizations to meet their business goals and achieve high performance. Its home page is www.accenture.com/software. For Banking software, its home page is www.accenture.com/bankingsoftware.
(1) Celent, “Core Banking Solutions for Large Banks: A Global Perspective” by Bart Narter and Stephen Greer, March 2012 and “Core Banking Solutions for Midsize Banks: A Global Perspective” by Bart Narter and Stephen Greer, February 2012.
(2) Celent, “Big Leagues Table 2012: Global Core Banking Sales Ranking” by Bart Narter and Stephen Greer, March 2012.