Moven is one of the world’s first banking services that provides real time behavioral feedback to help customers change their spending habits and save more. The company behind the popular PFM (personal finance management) app has signed a services agreement with Accenture to jointly develop next-generation digital banking solutions. In conjunction with the services agreement, the companies have also entered into an alliance agreement to provide digital banking solutions to banks globally, enabling the banks to launch new digital capabilities faster and more cost-efficiently and deliver innovative digital products and services to their customers.
Through the services agreement, Accenture and Moven will collaborate on design and implementation services for developing new digital banking capabilities—such as next-generation account opening, biometric authentication, real time marketing—and help improve the overall service experience for Moven’s end-users.
The alliance leverages Moven’s leading mobile-centric banking app & financial wellness solutions, Accenture’s banking industry experience, system integration knowledge as well as its digital capabilities and digital customer focus provided through Accenture Interactive and Fjord, and design and innovation from Accenture Interactive. The two companies have already signed a contract with a bank since forming the alliance.
“We set out to change what the world thinks of as a day-to-day bank account, starting from scratch with mobile, and providing customers with advice on spending and savings,” said Brett King, Moven’s CEO and founder, in an official press release. “The alliance with Accenture will be invaluable in helping us mobilize our services globally as we grow to tens of millions of users in a dozen countries. Accenture's phenomenal footprint with the biggest banks in the world, combined with the digital and end-user experience from Accenture Interactive and Fjord, made it the only choice for this global alliance partnership."
Piercarlo Gera, Global Senior Managing Director of Banking, Accenture Strategy, had this to say in an official press release, “Banks can learn a lot from digital disrupters such as Moven, and those that move quickly to harness the power of digital technologies can drive growth by reaching new customers and improve customer engagement by offering new services. Our alliance with Moven will enable us to help banks benefit from these disruptive innovations which can help them move away from reactive, transaction-based customer relationships and provide their customers with a more intimate, proactive and personalized experience. The alliance helps achieve the digital transformation strategies that we help shape and execute.”