Accenture (NYSE:ACN) said Tuesday it has purchased Aristal, a Malaysia‑based consultancy specializing in banking systems and digital transformation, marking Accenture's inaugural banking‑focused deal in the country.
The purchase brings Aristal's experience guiding banks through major core platform upgrades in Malaysia, Indonesia, Singapore and Thailand, according to a press release.
Aristal's team of 30 consultants will join Accenture's Financial Services practice in Malaysia, enhancing its ability to modernize banks' core systems, optimize operations and support merger integrations.
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As Southeast Asian banks race to update legacy platforms amid mergers and shifting regulations, the global core banking market — projected to hit $28.8 billion by 2027 — positions Malaysia for rapid digital upgrades.
"With deep expertise in core banking systems, Aristal has helped banks upgrade outdated platforms, improve operations, and deliver better customer experiences — capabilities that will strengthen Accenture's financial services offerings," said Paul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.
"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.
The financial terms of the transaction were not disclosed.
"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.
ACN Price Action: ACN shares are trading higher by 1.06% to $285.73 at publication on Tuesday.
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