Accenture has acquired NIKE Group, an Italian consulting firm that has provided regulatory technology (RegTech) services and solutions to financial services firms, the company reported on Thursday.
“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,” said Massimiliano Colangelo, who leads Accenture’s Financial Services Client Group in Italy.
Accenture announced its intent to acquire the business on April 14, 2020. Financial terms of the transaction were not disclosed. NIKE Group will bring a data-driven approach and compliance platform to Accenture.
NIKE Group will help clients monitor new regulatory requirements and assist with compliance. This is particularly important as financial services’ compliance departments continue to navigate an ever-expanding and complex set of regulations.
The team at NIKE Group will join Accenture’s Italian Financial Services practice. The acquisition will enhance Accenture’s RegTech and compliance capabilities for clients in Italy and across Europe.
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…. 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.”
Accenture’s acquisition will add to the company’s overall growth strategy to expand critical skills and capabilities in strategic, high-growth areas of the market. Other acquisitions that have supported Accenture’s growth include the purchase of financial services data consultancy Mudano and financial services consulting firm Parker Fitzgerald.
Accenture Applied Intelligence announced the close acquisition of Mudano in Feb. 2020. The acquisition will enhance Accenture’s analytics, data and artificial intelligence (AI) transformation capabilities. Terms of the transaction were not disclosed.
“Mudano’s focus on helping clients build a ‘data culture’ aligns perfectly to Accenture’s Applied Intelligence strategy. By creating a strong data foundation, supported by the right skills, stakeholders and technologies, our clients can transform at speed and scale and fuel real change for their business.”said George Marcotte, managing director and head of Accenture’s Applied Intelligence.
Accenture will gain over 20,000 industry-focused data professionals worldwide who help clients implement AI, including 6,000 data scientists, data engineers and AI professionals. The company will also integrate Mudano’s data advisory expertise and technology solutions into the existing capabilities to help Accenture’s clients generate value and return on investment from large-scale transformation projects.
Mudano has used the advanced analytics system, applied data science and modern data technologies to help the banks, insurers and wealth management firms transform customer behavior analytics, financial crime-prevention and intelligent data management.
Accenture is a leading global professional services company, providing a broad range of services in strategy and consulting, interactive, technology and operations, with digital capabilities across all of these services. We combine unmatched experience and specialized capabilities across more than 40 industries — powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. With 509,000 people serving clients in more than 120 countries, Accenture brings continuous innovation to help clients improve their performance and create lasting value across their enterprises.