Accenture to acquire ARZ to expand banking platform

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Accenture has entered into an agreement to acquire Allgemeines Rechenzentrum GmbH (ARZ), a technology service provider focused on the banking sector in Austria.

This acquisition will expand Accenture’s cloud-based banking platform-as-a-service offerings which range from core banking services, online banking, and regulatory services for clients across Europe. Around 600 of ARZ’s employees will be joining Accenture and will continue to work in their existing locations in Vienna and Innsbruck.

ARZ is Accenture’s latest acquisition made in the banking industry as last year Accenture acquired Exton Consulting as well as also making a strategic investment through Accenture Ventures in Imburse.

Roland Smertnig, senior managing director in Accenture’s financial services practice in Europe, said: “Our vision is to develop an innovative cloud-based banking platform-as-a-service offering for new and existing clients across Europe. By acquiring ARZ, we are expanding our digital transformation capabilities to help banks of the future as they look to move more of their core functions to the cloud, enable new business models, and reinvent the services and experiences they provide to customers.”

Michael Zettel, Accenture’s country managing director in Austria, added: “With this acquisition, we are expanding our team in Austria and will develop a comprehensive center of excellence at the Innsbruck location to serve our clients in Austria and across Europe. The ARZ team has the experience and talent to help us grow and meet our banking clients’ needs now and, in the future, and we look forward to welcoming them to Accenture.”