Accenture has entered into an agreement to acquire select professional services assets from Toronto-based Zafin.
Targeted to financial institutions, Zafin’s financial services software facilitates pricing, bundling, and rates management execution. Through the partnership, Accenture will act as a preferred integrator of the Zafin financial software platform as part of a joint go-to-market strategy. Select employees from Zafin’s professional services business will join Accenture’s global financial services practice, giving Accenture additional technical integration and development abilities that will for its own financial services offerings.
Terms of the transaction were not disclosed, and the acquisition is subject to customary closing conditions and expected to close in the first quarter of 2019.
“Many financial institutions are hindered in enhancing their customer experience by the limitations of legacy IT systems,” said Alan McIntyre, a senior managing director at Accenture and head of its global Banking practice. “Zafin’s software enables financial institutions to improve their pricing, personalization and product configuration without having to replace their legacy systems. We look forward to working with Zafin to deliver these capabilities to our financial services clients globally.”
“These agreements with Accenture will enable us to sharpen our focus squarely on product innovation and technology. We are particularly proud of the work we’ve done with our clients globally and expect our expanded relationship with Accenture to enable us to accelerate our momentum in the market. This deal simplifies our operating model and provides Zafin with rapid scalability.”