SINGAPORE - Accenture (NYSE: NYSE:ACN), a global professional services company with a market capitalization of $222.61 billion and a "GOOD" financial health rating according to InvestingPro, has enhanced its banking modernization capabilities with the acquisition of a digital twin technology platform from Percipient, a Singapore-based fintech company. This technology is expected to help financial services clients in the Asia Pacific region accelerate the reinvention of their core systems, drive innovation, and stimulate growth.
The platform acquired from Percipient acts as a digital counterpart to banks' legacy and modern systems by integrating and unifying data into a single real-time hub. This integration aims to simplify the application of data and enable quicker development of new products and services without the need for overhauling existing systems or disrupting operations.
Accenture's Financial Services lead for Asia Pacific, Masashi Nakano, stated that the acquisition of Percipient's technology bolsters their core modernization offerings. It allows banks to efficiently launch new products faster and deepen customer engagement through cloud, data, and AI technologies. According to Accenture's research, banks transitioning to a modern, cloud-enabled digital core can achieve up to 60% higher revenue growth rates and a 40% increase in profits. The company itself has demonstrated steady growth, with revenues reaching $66.36 billion in the last twelve months and maintaining a 2.75% growth rate.
Navin Suri, the founder and CEO of Percipient, who joins Accenture along with the core technology leadership team, expressed that combining Percipient's platform with Accenture's capabilities will enable banks to transform their legacy systems more seamlessly, gaining agility and speed while lowering the risks associated with modernization efforts. For detailed analysis and additional insights about Accenture's financial performance and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 top US stocks.
The financial terms of the transaction were not disclosed. The information for this article is based on a press release statement.
In other recent news, Accenture has seen its price target raised by multiple financial firms following strong Q1 performance. Baird Financial Services, Deutsche Bank (ETR:DBKGn), and Stifel Financial (NYSE:SF) Services raised their targets to $390, $365, and $390 respectively, all maintaining their previous ratings. BMO Capital also increased its target to $425, maintaining a Market Perform rating. Mizuho (NYSE:MFG) Securities, expressing a positive outlook, lifted its price target to $428.
Accenture's Q1 performance exceeded the projected growth range, leading to an upward revision in the FY25 growth guide to 4-7% in constant currency. The company's strategy of securing larger transformative deals was credited for this outperformance. The recent developments suggest a stable environment for Accenture, with potential benefits should there be a rise in discretionary demand.
Accenture's strong start to the year was recognized, with notable growth in constant currency across all end-markets. The company also revised its full-year 2025 constant currency growth guidance upwards, indicating an organic constant currency growth of 1% to 4%. Accenture's first-quarter performance was particularly strong in certain segments, with year-over-year constant currency growth acceleration in Financial Services, Products, and Consulting. The company has sustained momentum in Generation AI, reporting $1.2 billion in bookings and approximately $500 million in revenue.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.