Accenture has acquired NIKE Group, an Italian consulting firm specialising in regulatory technology (Regtech) services and solutions to financial services firms, for an undisclosed amount.
The data-driven approach and compliance platform provided by NIKE Group helps clients to monitor new regulatory requirements and assists them with compliance.
The acquisition is part of Accenture’s strategy to expand it is skills and capabilities in strategic, high-growth areas of the market. Recently, the company acquired Mudano and financial services consulting firm Parker Fitzgerald.
Accenture Italy Financial Services Client Group lead Massimiliano Colangelo said: “Financial services firms need a data-driven approach to compliance that manages escalating costs, detects regulatory changes faster and creates new efficiencies.
“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.”
NIKE Group will become part of Accenture’s Italian Financial Services practice
NIKE Group will be integrated into Accenture’s Italian Financial Services practice. The deal is expected to strengthen Accenture’s Regtech and compliance capabilities for its clients in Italy and across Europe.
NIKE Group CEO Carlo Giaj Levra 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. As regulations continue to proliferate across markets, the need for a centralized approach to help organizations manage regulatory compliance strategically is heightened.
“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.”
In February, Accenture completed the acquisition of the Mudano, a UK-based data consultancy provider financial services firm. Founded in 2014, Mudano has its offices in London and Edinburgh, Scotland.
The deal is expected to enhance its analytics, data and artificial intelligence (AI) transformation capabilities. Mudano was planned to be integrated into Accenture’s Applied Intelligence.