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Accenture and Bankdata partner to modernize capital markets on cloud

Published Nov 29, 2023 14:24
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Accenture (NYSE:ACN) has entered into a multi-year partnership with Danish financial technology leader Bankdata to modernize its capital markets platform by transitioning it to a cloud-based infrastructure. This strategic collaboration, announced today, aims to enhance Bankdata's trading capabilities for complex financial products, which see daily turnovers of approximately $42 billion.

The modernization initiative will leverage Accenture's Applied Technology and Operations for Markets suite, which includes the adoption of the Murex MX.3 platform. The MX.3 platform is known for its advanced trading analytics and risk management processes, enabling financial institutions to better serve their clients, including asset managers. This move underscores a significant shift towards innovation-led growth within the financial services sector.

The agreement also includes a regular system upgrade policy. This policy ensures that development and test environments can be provisioned quickly, optimizing DevOps efficiencies. Moreover, the cloud-based architecture will ensure compliance with regulatory standards while offering scalable solutions to meet the evolving demands of the market.

Member banks of Bankdata, such as Jyske Bank and Sydbank, are poised to benefit from these system upgrades. The continuous improvements are designed to not only enhance business agility and maintain cost-efficiency but also to strengthen data and AI capabilities.

This long-standing agreement between Accenture and Bankdata marks a significant commitment to harnessing technology to drive growth and efficiency in the financial services industry.

InvestingPro Insights

Accenture's strategic partnership with Bankdata is a testament to its commitment to leveraging technology for growth in the financial services sector. In line with this, InvestingPro data shows that Accenture has a robust market capitalization of $209.55B and maintains a healthy P/E ratio of 30.66, reflecting investor confidence in its business model and future prospects. The company's revenue growth over the last twelve months, as of Q4 2023, stands at 4.09%, demonstrating a steady increase in its financial performance.

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Accenture's commitment to innovation and growth is further underscored by its strong return over the last month, with a 14.62% increase, and a remarkable return over the last decade. Subscribers to InvestingPro can access these insights and more, especially now with the special Cyber Monday sale offering a discount of up to 55%. To enhance the value, use coupon code sfy23 to get an additional 10% off a 2-year InvestingPro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Accenture and Bankdata partner to modernize capital markets on cloud
 

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