Accenture makes maiden banking deal in Malaysia with Aristal acquisition
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"With deep expertise in core banking systems, Aristal has helped banks upgrade outdated platforms, improve operations, and deliver better customer experiences," said Ng in a statement today.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.
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