Accenture recently agreed to buy SKS Group, a consultancy company that uses SAP S/4HANA® solutions to assist banks in Germany, Austria, and Switzerland modernize their technological infrastructure and satisfy regulatory requirements.
Accenture has recently acquired SKS Group in the banking industry, after its strategic investments in Imburse through Accenture Ventures, Allgemeines Rechenzentrum GmbH (ARZ), BCS Consulting, and Exton Consulting. The acquisition will increase Accenture’s capacity to provide specialist banks with technology, consulting, and regulatory services.
Christina Raab, market unit lead for Accenture in Germany, Austria, and Switzerland, said, “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.”
Accenture will now include about 500 employees of SKS Group. The agreement covers all SKS Group businesses that provide SAP solutions for core banking services and analytics to financial institutions. Additionally, SKS Group offers a range of risk, regulatory, and compliance services, such as its observatory tool, which connects regulatory requirements to assist banks in managing their reporting procedures.
David Cordero, who leads Accenture’s Banking industry group in Europe, 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.”