Hi @Mallika
I believe you might have already done an analysis at your end that the latency is coming from the storage account. If not I would first suggest you to verify whether the latency is coming from storage or some other component/calls.
If you want to change the storage account, you need to update the configuration pointing to the connecting string of the different storage account.
Depending on the function this may be the AzureWebJobsStorage and WEBSITE_CONTENTAZUREFILECONNECTIONSTRING strings.
If you are using storage in/out bindings and want to point out that function to another account then you might have defined your custom application setting name and you need to update that to point it to new storage account connecting string.
Please 'Accept as answer' and ‘Upvote’ if it helped so that it can help others in the community looking for help on similar topics.