Deloitte Invests $750M in Converge™ by Deloitte to Accelerate Transformation of Consumer, Financial Services and Health Care Industries

Building on the global success of ConvergeHEALTH, Converge™ by Deloitte will drive ethical and responsible transformation of industry through new Converge software platforms, ecosystem partnerships, and expanded hiring of data science, engineering and domain experts

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Deloitte Consulting LLP

Feb 08, 2022, 08:03 ET

NEW YORK, Feb. 8, 2022 /PRNewswire/ -- Deloitte today announced Converge™ by Deloitte, an expansion of its ConvergeHEALTH business into the consumer and financial services sectors as part of a $750 million investment in new software platforms, ecosystem and alliance relationships and hiring additional diverse software engineering, data scientist and industry professionals to dramatically accelerate the future transformation of industry.

Converge by Deloitte builds on the success of ConvergeHEALTH, a business borne from the needs in life sciences and health care organizations to connect data and share information and insights. Now its platforms are live in 25-plus countries supporting the world's leading health care and life sciences innovators by connecting patients, providers, researchers and payors to help make value-based, personalized health care a reality. Deloitte is now applying those learnings to advance other industries with the launch of, ConvergePROSPERITY and ConvergeCONSUMER.

"As industries continue to transform and converge at an increasing pace, our clients — should and do — expect more from their consultants," said Dan Helfrich, chief executive officer, Deloitte Consulting LLP. "This investment represents our ongoing commitment to their success. It also supports our goal of attracting and retaining the world's best talent across industries and areas of expertise like data science, engineering and design."

Deloitte's two new businesses, ConvergePROSPERITY and ConvergeCONSUMER include:

ConvergePROSPERITY™: ConvergePROSPERITY cloud-based software solutions combined with Deloitte's technology ecosystem enable financial institutions to deliver on customers' purpose and expectations to offer exceptional customer experience, expand product offerings, acquire new customers, reduce customer acquisition cost, deliver strong ROI goals from technology investments, and better reach the underserved.

"In advancing our digital transformation journey we focused on building our ecosystem strategy to provide value-added products and services to our customers. Our vision includes a new kind of digital bank — one to offer borderless financial services to global citizens. By working with AWS and partners like Deloitte, we were able to create and launch our digital banking app in record time, and we are now in a controlled market launch in a couple of countries in Europe," said Shelly Swanback, president, Product and Platform at Western Union.

ConvergeCONSUMER™: ConvergeCONSUMER is focused on understanding the consumer, predicting future demand, and optimizing decision-making to improve the relevance of experiences and offerings to consumers ethically and responsibly across all industries. ConvergeCONSUMER combines first party, client and external data sets and applies predictive analytics in its next-generation analytics and experience platforms to drive actionable insights.

"Deloitte and ConvergeCONSUMER's solutions have accelerated our journey to becoming a sense-and-respond, data-driven operation where we are better able to effectively meet our customer's needs", said Paul Gaffney, chief technology and supply chain officer at Kohl's.

Deloitte is also building out new capabilities and features to its award-winning solutions in the ConvergeHEALTH solutions suite.

ConvergeHEALTH™: This investment expands ConvergeHEALTH's platforms by supporting increased cost transparency, clinical trial management and access, improved patient and physician experiences, and delivery of cell and gene and other next generation therapies with the ultimate goal of increased health equity.

"The Hearts of Athletes study powered by ConvergeHEALTH MyPath™ for Clinical will enable us to enroll a population of young adults that prefer to engage on digital platforms and have travel limitations due to the pandemic," said Dr. Manesh Patel, chief of Cardiology at Duke University School of Medicine. "This approach has the potential to allow patients to participate from wherever they are, have a better experience and helps the physicians, investigators and others involved in the study collaborate and respond more quickly. It could also give us the tools and a template for future studies."

"Deloitte is making this investment because the lines between traditional industries, competitors and collaborators, customers and suppliers, and even human and artificial intelligence are becoming not just increasingly blurred — they are converging," said Brett Davis, principal, Deloitte Consulting LLP and Global Assets leader and general manager of Converge by Deloitte. "This convergence is why we are focused on supporting our clients as consumer centricity becomes central to all industries, embedded financial services become part of our daily digital lives, health care is increasingly delivered in retail settings, artificial intelligence is woven into how organizations fundamentally operate, and we collectively look to address health and financial equity."

For more information visit www.deloitte.com/us/converge.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. Our people come together for the greater good and work across the industry sectors that drive and shape today's marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Building on more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's more than 345,000 people worldwide connect for impact at www.deloitte.com.

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SOURCE Deloitte Consulting LLP