Accenture has agreed to acquire SKS Group, a firm that aids banks across the DACH regions modernise their technology infrastructure and address regulatory requirements.
The acquisition will expand Accenture’s technology, consulting and regulatory services capabilities, while enhancing its ability to serve specialized banks, such as national promotional banks that provide financial and development assistance to local businesses and communities.
With headquarters in Hochheim, Germany, SKS Group’s team of approximately 500 professionals will join Accenture Technology. The deal encompasses all of SKS Group’s businesses, which support financial institutions in the development, implementation, and operation of SAP solutions for core banking services and analytics.
SKS Group also has an extensive suite of risk, regulatory services and compliance capabilities, including its observatory tool which maps regulatory requirements to help banks manage their reporting processes.
Accenture banking industry head David Cordero said, “SKS Group’s innovative solutions and skills will bolster our ability to transform banks’ core business functions, enabling them to operate more efficiently, make better use of their data and develop new products faster. In addition, SKS Group’s strong capabilities for specialized banks will expand our banking services to new clients.”
Christina Raab, market unit lead for Accenture in Germany, Austria and Switzerland, added: “With SKS Group’s deep industry knowledge and technology expertise, we will be in an even stronger position to help banks modernize their legacy technology, manage risk and accelerate growth. As consumers’ banking needs and preferences change, banks’ business models will have to evolve to keep pace and remain relevant.”
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