Accenture has acquired a digital twin technology platform developed by Percipient, a fintech company based in Singapore with deep experience in banking technology transformation. The acquisition enhances Accenture’s existing banking modernization capabilities.
Percipient’s platform serves as a digital twin, that is it makes a virtual copy of both old and new banking systems. It gathers and manages data from these systems in one spot, making it easier for banks to modernize their technology. This allows banks to improve without having to change everything at once or disrupt their daily work.
“Banks’ core systems are often decades old, with layers of tangled code that are costly to maintain, reduce business flexibility, and require highly specialized talent, making the need for transformation urgent,” said Masashi Nakano, Accenture’s Financial Services lead for Asia Pacific. “Percipient’s unique capabilities strengthen our existing core modernization offerings, enabling banks to efficiently unlock new opportunities for growth, launch new products faster, and deepen customer engagement through cloud, data, and AI.”
Also Read: Accenture to Acquire Italian IQT Group to manage net-zero infrastructure projectsNavin Suri, the founder and CEO of Percipient who joins Accenture together with Percipient’s core technology leadership team, said: “We have a shared vision to reinvent how digital transformation is achieved at financial institutions. By combining Percipient’s platform with Accenture’s core banking and technology capabilities, we can enable banks to more seamlessly transform their legacy systems and gain agility and speed while lowering the risk associated with such modernization efforts.”
By using Percipient’s digital twin technology, Accenture can enable banks to move away from old systems and take the benefit of cloud services and artificial intelligence. Research from Accenture shows that banks that switch to modern, cloud-based systems can see up to 60% more revenue growth and a 40% increase in profits.
