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Techday NZ
5 days ago
- Business
- Techday NZ
Accenture acquires Aristal to boost Southeast Asia banking tech
Accenture has completed the acquisition of Aristal, a Malaysia-based consultancy with expertise in financial services and digital transformation, in an effort to broaden its capabilities across Southeast Asia. This acquisition represents Accenture's first banking-focused purchase in Malaysia and is part of a wider programme to expand its presence in the region's financial services sector. Regional pressure Banks and financial institutions across the Asia-Pacific, including New Zealand, are facing increasing challenges to modernise legacy systems and increase digital adoption, partly in response to changing economic conditions at both the regional and global levels. Founded in 2006, Aristal has provided advisory services in core banking transformation and has led significant IT and business change initiatives for financial institutions in Malaysia, Indonesia, Singapore, and Thailand. Its expertise spans system migrations, regulatory compliance, and post-merger integrations, challenges that many banks in Southeast Asia are actively addressing. "With deep expertise in core banking systems, Aristal has helped banks upgrade outdated platforms, improve operations, and deliver better customer experiences - capabilities that will strengthen Accenture's financial services offerings," said Paul Ng, Financial Services Lead, Southeast Asia at Accenture. "Their experience implementing core banking platforms, designing operating models, and supporting post-merger integration will enhance our ability to help banks across Southeast Asia transform faster and operate more efficiently." Following the acquisition, Aristal's team of 30 professionals will join Accenture's Financial Services practice in Malaysia. According to both companies, the integration of Aristal's industry experience with Accenture's broader technology and managed services portfolio should enable more comprehensive delivery of transformation projects for banks in the region. Market trends The global core banking market is expected to reach USD $28.8 billion by 2027, and financial institutions in Southeast Asia are advancing their efforts to replace ageing technology and enhance digital offerings. New Zealand's banks, subject to scrutiny over ageing infrastructure and the quality of digital services, are observing such developments as a reminder of the necessity for ongoing investment in updating core systems. "This acquisition expands our pool of experienced professionals in Malaysia and strengthens our ability to support clients driving core banking transformation," said Azwan Baharuddin, Country Managing Director for Accenture in Malaysia. "It reflects our commitment to developing local talent and helping clients harness the power of technology, data, and AI to reinvent how they operate, compete, and grow in an increasingly dynamic banking landscape." Lin Kok Liong, Managing Director of Aristal, commented on the wider opportunities the deal presents for Aristal staff and clients alike. "Joining Accenture opens up tremendous opportunities for our team here in Malaysia to grow and contribute on a larger stage. By integrating into Accenture's global network of innovation and talent, we're not only expanding our own capabilities but also enhancing the value we can deliver to clients locally." Strategic moves The acquisition follows other strategic decisions by Accenture in Southeast Asia, including purchasing Singapore-based Percipient's digital twin banking technology and launching the AI Refinery Engineering Hub, with an aim of supporting digital transformation on a large scale for financial services providers. No financial details regarding the Aristal transaction have been disclosed. Follow us on: Share on:
Finextra
22-07-2025
- Business
- Finextra
Accenture acquires Malysia-based bank consultancy firm Aristal
Accenture (NYSE: ACN) has acquired Aristal, a Malaysia-based consulting and digital transformation firm with deep expertise in financial services—marking Accenture's first banking-focused acquisition in the country. 0 The acquisition strengthens Accenture's talent and capabilities to help banks in Malaysia upgrade their core systems, improve operations, and manage large-scale changes like mergers and system transitions. Founded in 2006, Aristal is recognized for its high-quality advisory services and deep expertise in core banking transformation. The firm has built a strong track record of successfully delivering large-scale IT and business transformation programs for leading financial institutions across Malaysia, Indonesia, Singapore, and Thailand. 'With deep expertise in core banking systems, Aristal has helped banks upgrade outdated platforms, improve operations, and deliver better customer experiences—capabilities that will strengthen Accenture's financial services offerings,' said Paul Ng, Financial Services Lead, Southeast Asia at Accenture. 'Their experience implementing core banking platforms, designing operating models, and supporting post-merger integration will enhance our ability to help banks across Southeast Asia transform faster and operate more efficiently.' Aristal's highly skilled and senior team of 30 will join Accenture's Financial Services practice in Malaysia. Coupling its sector knowledge with Accenture's technology and managed services will enhance delivery of end-to-end transformation projects for clients at scale. Banks across the region are upgrading their core platforms to keep pace with complex mergers, acquisitions, and regulatory demands. With the global core banking market projected to reach USD 28.8 billion by 2027, Malaysia is expected to follow suit, driven by industry-wide efforts to modernize systems and strengthen digital capabilities. 'This acquisition expands our pool of experienced professionals in Malaysia and strengthens our ability to support clients driving core banking transformation,' said Azwan Baharuddin, Country Managing Director, Malaysia at Accenture. 'It reflects our commitment to developing local talent and helping clients harness the power of technology, data, and AI to reinvent how they operate, compete, and grow in an increasingly dynamic banking landscape.' 'Joining Accenture opens up tremendous opportunities for our team here in Malaysia to grow and contribute on a larger stage,' said Lin Kok Liong, Managing Director at Aristal. 'By integrating into Accenture's global network of innovation and talent, we're not only expanding our own capabilities, but also enhancing the value we can deliver to clients locally.' The move underscores Accenture's continued investment in Southeast Asia to help clients embrace AI, cloud, and modern core systems. This 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. The financial terms of the transaction were not disclosed.
New Straits Times
22-07-2025
- Business
- New Straits Times
Accenture makes maiden banking deal in Malaysia with Aristal acquisition
KUALA LUMPUR: New York-listed Accenture Plc has acquired Malaysia-based consulting and digital transformation firm Aristal Solutions Sdn Bhd, marking its first banking-focused acquisition in the country. 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.
BusinessToday
22-07-2025
- Business
- BusinessToday
Accenture Acquires Malaysian Firm Offering Financial Services, Aristal
Accenture announced that it has acquired Aristal, a Malaysia-based consulting and digital transformation firm with deep expertise in financial services. This is the consultancy firm's first banking-focused acquisition in the country. The acquisition will see Accenture upgrading its core systems, improving operations, and managing large-scale changes like mergers and system transitions. Founded in 2006, Aristal offers advisory services and deep expertise in core banking transformation. The firm has built a strong track record of successfully delivering large-scale IT and business transformation programs for leading financial institutions across Malaysia, Indonesia, Singapore, and Thailand. 'With deep expertise in core banking systems, Aristal has helped banks upgrade outdated platforms, improve operations, and deliver better customer experiences—capabilities that will strengthen Accenture's financial services offerings,' said Paul Ng, Financial Services Lead, Southeast Asia at Accenture. 'Joining Accenture opens up tremendous opportunities for our team here in Malaysia to grow and contribute on a larger stage,' said Lin Kok Liong, Managing Director at Aristal. 'By integrating into Accenture's global network of innovation and talent, we're not only expanding our own capabilities, but also enhancing the value we can deliver to clients locally.' Related
Business Wire
22-07-2025
- Business
- Business Wire
Accenture Deepens Banking Capabilities in Malaysia with Acquisition of Aristal
KUALA LUMPUR, Malaysia--(BUSINESS WIRE)--Accenture (NYSE: ACN) has acquired Aristal, a Malaysia-based consulting and digital transformation firm with deep expertise in financial services—marking Accenture's first banking-focused acquisition in the country. The acquisition strengthens Accenture's talent and capabilities to help banks in Malaysia upgrade their core systems, improve operations, and manage large-scale changes like mergers and system transitions. Founded in 2006, Aristal is recognized for its high-quality advisory services and deep expertise in core banking transformation. The firm has built a strong track record of successfully delivering large-scale IT and business transformation programs for leading financial institutions across Malaysia, Indonesia, Singapore, and Thailand. 'With deep expertise in core banking systems, Aristal has helped banks upgrade outdated platforms, improve operations, and deliver better customer experiences—capabilities that will strengthen Accenture's financial services offerings,' said Paul Ng, Financial Services Lead, Southeast Asia at Accenture. 'Their experience implementing core banking platforms, designing operating models, and supporting post-merger integration will enhance our ability to help banks across Southeast Asia transform faster and operate more efficiently.' Aristal's highly skilled and senior team of 30 will join Accenture's Financial Services practice in Malaysia. Coupling its sector knowledge with Accenture's technology and managed services will enhance delivery of end-to-end transformation projects for clients at scale. Banks across the region are upgrading their core platforms to keep pace with complex mergers, acquisitions, and regulatory demands. With the global core banking market projected to reach USD 28.8 billion by 2027, Malaysia is expected to follow suit, driven by industry-wide efforts to modernize systems and strengthen digital capabilities. 'This acquisition expands our pool of experienced professionals in Malaysia and strengthens our ability to support clients driving core banking transformation,' said Azwan Baharuddin, Country Managing Director, Malaysia at Accenture. 'It reflects our commitment to developing local talent and helping clients harness the power of technology, data, and AI to reinvent how they operate, compete, and grow in an increasingly dynamic banking landscape.' 'Joining Accenture opens up tremendous opportunities for our team here in Malaysia to grow and contribute on a larger stage,' said Lin Kok Liong, Managing Director at Aristal. 'By integrating into Accenture's global network of innovation and talent, we're not only expanding our own capabilities, but also enhancing the value we can deliver to clients locally.' The move underscores Accenture's continued investment in Southeast Asia to help clients embrace AI, cloud, and modern core systems. This 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. The financial terms of the transaction were not disclosed. Forward-Looking Statements Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as 'may,' 'will,' 'should,' 'likely,' 'anticipates,' 'aspires,' 'expects,' 'intends,' 'plans,' 'projects,' 'believes,' 'estimates,' 'positioned,' 'outlook,' 'goal,' 'target' and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance nor promises that goals or targets will be met, and involve a number of risks, uncertainties and other factors that are difficult to predict and could cause actual results to differ materially from those expressed or implied. These risks include, without limitation, risks that: Accenture and SIPAL will not be able to close the transaction in the time period anticipated, or at all, which is dependent on the parties' ability to satisfy certain closing conditions; the transaction might not achieve the anticipated benefits for Accenture; Accenture's results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and geopolitical conditions and the effects of these conditions on the company's clients' businesses and levels of business activity; Accenture's business depends on generating and maintaining client demand for the company's services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company's results of operations; risks and uncertainties related to the development and use of AI could harm the company's business, damage its reputation or give rise to legal or regulatory action; if Accenture is unable to match people and their skills with client demand around the world and attract and retain professionals with strong leadership skills, the company's business, the utilization rate of the company's professionals and the company's results of operations may be materially adversely affected; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; Accenture's ability to attract and retain business and employees may depend on its reputation in the marketplace; if Accenture does not successfully manage and develop its relationships with key ecosystem partners or fails to anticipate and establish new alliances in new technologies, the company's results of operations could be adversely affected; Accenture's profitability could materially suffer due to pricing pressure, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture's level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company's effective tax rate, results of operations, cash flows and financial condition; Accenture's results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; Accenture's debt obligations could adversely affect its business and financial condition; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; as a result of Accenture's geographically diverse operations and strategy to continue to grow in key markets around the world, the company is more susceptible to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture's business could be materially adversely affected if the company incurs legal liability; Accenture's work with government clients exposes the company to additional risks inherent in the government contracting environment; Accenture's global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture's services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the 'Risk Factors' heading in Accenture plc's most recent Annual Report on Form 10-K, as updated in Item 1A, 'Risk Factors' in its Quarterly Report on Form 10-Q for the second quarter of fiscal 2025, and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture's expectations. About Accenture Accenture is a leading global professional services company that helps the world's leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 791,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world's leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. Our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at
