Accenture makes maiden banking deal in Malaysia with Aristal acquisition
The acquisition aims to enhance Accenture's ability to help banks in Malaysia upgrade core banking systems, improve operational efficiencies, and manage complex transitions such as mergers and platform overhauls.
Its financial services lead in Southeast Asia Paul Ng said the move reflects the company's continued investment in the region to help clients embrace artificial intelligence, cloud, and modern core systems.
"This acquisition strengthens Accenture's local capabilities to support these demands, particularly in navigating large-scale digital transformation for banks.
"With deep expertise in core banking systems, Aristal has helped banks upgrade outdated platforms, improve operations, and deliver better customer experiences," said Ng in a statement today.
Ng added that this also includes recent initiatives such as the acquisition of Percipient's digital twin technology for banks in Singapore and the establishment of the AI Refinery Engineering Hub to accelerate innovation and scalable transformation across the region.
Aristal, which was founded in 2006, is known for its deep expertise in core banking transformation.
The firm has delivered large-scale information technology and business transformation projects across Malaysia, Indonesia, Singapore, and Thailand.
Aristal managing director Lin Kok Liong said joining Accenture opens up strong opportunities for its team in Malaysia to grow and contribute on a larger stage.
"By integrating into Accenture's global network of innovation and talent, we are not only expanding our capabilities, but also enhancing the value we can deliver to clients locally," he said.
With the global core banking market projected to reach US$28.8 billion by 2027, Malaysia is expected to follow suit, driven by industry-wide efforts to modernise systems and strengthen digital capabilities.
Additionally, Aristal's 30-member senior team will join Accenture's financial services practice in Malaysia.
The integration is expected to strengthen the delivery of end-to-end transformation projects for financial institutions at scale.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
9 hours ago
- The Star
Vietnam's passport ranking rises to 84th in the world, unlocking new opportunities for global travel and integration
Vietnamese passport holders can now enter 51 destinations without a traditional visa - on par with several other developing nations. -- Photo: HANOI (Vietnam News/ANN): Vietnam's passport has climbed seven places to rank 84th out of 199 countries and territories in the Henley Passport Index for the third quarter of 2025, up from 91st earlier this year and 87th in 2024. The improvement, announced on July 22 by UK-based Henley & Partners, signals stronger global confidence in Vietnam and presents broader opportunities for its citizens in tourism, trade, and international integration. The Henley Passport Index ranks passports based on the number of destinations their holders can access without a visa, or with simplified procedures such as e-visas, visas on arrival, or electronic travel authorisations (ETAs). Vietnamese passport holders can now enter 51 destinations without a traditional visa - on par with several other developing nations. Though still ranked in the lower-middle tier globally, the recent jump reflects growing trust in Vietnam's foreign policy, administrative transparency, and international reputation. It is also one of Vietnam's most significant upward moves since Henley & Partners began tracking global passport access nearly two decades ago using data from the International Air Transport Association (IATA). Vietnamese citizens can currently travel visa-free or with simplified entry to several Asean countries, including Thailand, Singapore, Indonesia, and the Philippines, as well as to destinations in Africa, South America, Central Asia, and South Asia, such as Kenya, Panama, Kyrgyzstan, Iran, and the Maldives. In South-East Asia, Vietnam's passport ranks above Laos (92nd) and Myanmar (93rd), while Singapore remains at the top worldwide with visa-free access to 195 destinations. According to tourism and policy experts, a passport's ranking reflects more than mobility, it serves as a 'soft measure' of a country's political stability, global standing, and the trust placed in its citizens. The improvement also mirrors Vietnam's efforts in bilateral diplomacy, upgrades in e-passport systems, and negotiations for visa waivers with countries across Asia, Africa, and the Pacific. Experts also noted the broader impact on outbound tourism. Visa-free access stimulates demand for international travel and enables Vietnamese tour operators to design more diverse and high-end packages. Better passport access allows students, businesspeople, and workers to engage internationally with greater ease, enhancing Vietnam's role as a contributor to global culture, trade, and diplomacy. As Vietnam continues to modernise its passport system and expand diplomatic ties, the rising passport ranking not only reflects progress but also serves as a gateway for millions to explore the world and represent their country with pride. According to the National Statistics Office, more than 4 million Vietnamese citizens traveled abroad in the first half of 2025, marking a 53.9% increase compared to the same period in 2024. - Vietnam News/ANN
Free Malaysia Today
10 hours ago
- Free Malaysia Today
KDM to field ex-Sabah Treasury official in Sabah polls
Former Sabah Treasury official Rusdin Riman is reportedly the deputy chairman of Progressive Insurance Berhad, a general insurance firm in which the Sabah government is the majority shareholder. (Website pic) PETALING JAYA : A former top official at the Sabah Treasury will contest in the upcoming state election representing Parti Kesejahteraan Demokratik Masyarakat (KDM). KDM deputy president Wetrom Bahanda said former Sabah Treasury permanent secretary Rusdin Riman will be fielded by the party in the Paginatan seat, the Borneo Post reported. 'Although (Rusdin) could not be with us today, his supporters are present and he has contacted me personally. 'Rusdin will be joining our fight for Paginatan,' Wetrom was quoted as saying. Rusdin is reportedly the deputy chairman of Progressive Insurance Berhad, a general insurance firm in which the Sabah government is the majority shareholder. The Paginatan seat is currently held by Parti Solidariti Tanah Airku (STAR) vice-president Abidin Madingkir, who is also an aide to chief minister Hajiji Noor. Abidin won the seat with a majority of 1,323 votes in a nine-cornered contest in the 2020 state polls. At the time, STAR had gone up against Umno, Parti Bersatu Sabah (PBS), Upko, Parti Cinta Sabah (PCS), Liberal Democratic Party (LDP), United Sabah National Organisation (Usno) and Parti Gagasan Rakyat Sabah. STAR and PBS have signed a pact for the upcoming state polls to avoid seat clashes, while the two parties are also part of the Gabungan Rakyat Sabah coalition along with Gagasan Rakyat, LDP, Usno and PCS.
Free Malaysia Today
10 hours ago
- Free Malaysia Today
‘RM5 a meal' eatery among 7 Rafizi plans for social change
Former economy minister Rafizi Ramli said he and his team have already found the necessary partners and assets for the social enterprises to start. (Facebook pic) KUALA LUMPUR : Former PKR deputy president Rafizi Ramli has launched seven social enterprises under his 'Ayuh Malaysia' platform, including an eatery in Pandan Indah selling food at under RM5 a meal. The Pandan MP said the seven enterprises will commence operations in September, adding that he and his team have already found the necessary partners and assets for the initiatives to start. Besides the 'Kesum' eatery selling breakfast, lunch and dinner for under RM5, there will also be a sundry shop named 'FlexiMart' using the 'refill' concept. This concept involves the sale of goods without single-use packaging, with customers buying what they need by 'refilling' their own containers instead. 'We will also try to offer the installation of solar panels on roofs for low-income families, through the 'Suria' social enterprise in Petaling Jaya,' he said at the launch. Rafizi will also introduce a 'SagaSivik' civic education programme in Setiawangsa and a training initiative dubbed 'CLIB' in Ampang to prepare youths and undergraduates for the job market. Another initiative is called 'PinjamGajet'. It is based in Selayang and offers youths training on repairing laptops and smartphones, while the gadgets are then rented out to low-income households for as low as RM10 a year. The former economy minister will also introduce the 'TanamDuit' social enterprise in Rembau, Negeri Sembilan, which seeks to encourage modern agriculture on abandoned land. Rafizi previously said these social enterprises were another way of bringing change to society and local communities, outside of politics. He said 'Ayuh Malaysia' would operate differently from profit-oriented businesses and donation-reliant NGOs by empowering local communities to conduct economic activities that are both effective and self-sustaining.
