Accenture opens Innvovation Centre for Finance and Risk in New York

Accenture has announced the opening of the Innovation Center for Finance & Risk in New York, which will focus on developing solutions for finance and risk (F&R) data management, data engineering, advanced analytics, artificial intelligence (AI) and reporting.

Part of Accenture’s international innovation network, the center aims to help financial services clients quickly develop and scale advanced data and analytics capabilities. It will offer consulting, development and operations services across the end-to-end data and analytics solution lifecycle, and has over 20 industry partnerships with universities, fintech startups and global financial institutions.

“This is all about accelerating innovation for institutions that operate in the North American market. With the center, we are providing a combination of data analysis, quantitative modelling and functional resources that we can scale to support our clients’ needs. By using tools such as Python and Spark, banks are able to leverage the center to enhance their finance and risk capabilities and generate deeper analytics insight around big data. These approaches are creating value for their businesses by streamlining operations and fast-tracking the delivery of data management and traceability initiatives”, Luther Klein, the center’s lead for Finance & Risk Services, said.

The New York innovation center will help financial institutions achieve cost-efficient growth and enhance regulatory controls as they implement a new generation of data and analytics capabilities, powered by big data, cloud and AI technologies, to address regulatory, financial and risk reporting. It will help institutions accelerate that transition by using next-generation tools and technology enabled by the Accenture Insights Platform (AIP), the Accenture Labs - which redefine the possible with applied R&D - and by leveraging Accenture’s software alliances.

“Our new Innovation Center for Finance & Risk fosters deep collaboration between our clients and Accenture data scientists and technology experts, who understand their challenges,” said Antonio Castro, the innovation center’s lead for Accenture Analytics, part of Accenture Digital. “Together, we can work quickly and effectively to ideate, prototype and scale solutions. The center has already enabled us to accelerate delivery of next-generation data platforms, including building the data pipelines, models and dashboards for risk, marketing and performance reporting for a number of leading financial institutions."

The center is part of the Accenture Innovation Architecture, which combines capabilities from across the company to help clients develop and deliver disruptive innovations, and to scale them faster.