Leading professional services firm Accenture has bought NIKE Group, an Italian consulting firm that provides regulatory technology services and solutions to financial services firms. The financial terms of the deal were not disclosed.
Accenture will use NIKE Group’s data-driven approach and compliance platform to help its financial clients better monitor new regulatory requirements and assist with compliance.
The team at NIKE Group will join Accenture’s Italian Financial Services practice. The acquisition enhances Accenture’s RegTech and compliance capabilities for clients in Italy and across Europe.
“Financial services firms need a data-driven approach to compliance that manages escalating costs, detects regulatory changes faster and creates new efficiencies,” said Massimiliano Colangelo, who leads Accenture’s Financial Services Client Group in Italy. “NIKE Group’s extensive regulatory industry experience combined with Accenture’s scale and approach to innovation will enable us to create an enhanced data-driven market offering in advanced RegTech that will help clients accelerate their compliance transformations.”
Carlo Giaj Levra, CEO of NIKE Group, said, “We are excited to join Accenture; its size and geographic reach will offer our employees new opportunities to expand their skills and will provide our customers with end-to-end solutions. As regulations continue to proliferate across markets, the need for a centralised approach to help organizations manage regulatory compliance strategically is heightened. Together with Accenture, we will continue to develop solutions and technologies to improve governance and compliance processes for financial services, with the aim to expand our services to other industries.”
The acquisition is part of Accenture’s long-term strategy to bolster its skills and capabilities. This strategy has already seen it acquire cybersecurity consultancy Context Information in March and digital defence business Broadcom in January.
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