Irish-domiciled professional services firm Accenture has acquired Italian consulting firm NIKE Group to augment its regtech and compliance capabilities for financial services firms.
Accenture, which first expressed interest to acquire NIKE Group on 14 April 2020, did not divulge financial detail of the acquisition.
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NIKE Group provides regulatory technology (regtech) services and solutions to financial institutions.
Accenture said it leverage NIKE’s platform to boost its regtech and compliance capabilities for clients in Italy and across Europe.
NIKE Group CEO Carlo Levra said: “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.”
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By GlobalDataPost-acquisition, NIKE Group’s team will join Accenture’s Italian Financial Services (IFS) practice unit.
Accenture IFS 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.”
