Accenture acquires digital twin platform for banking modernisation

This move is expected to improve Accenture's capabilities in modernising banking systems across the Asia-Pacific region. The platform aims to assist financial institutions in upgrading their core systems, supporting both innovation and growth strategies.

Digital twin technology importance in streamlining core banking

Percipient’s platform creates a virtual replica, or ‘digital twin,’ of banks' legacy and modern systems. It consolidates data from disparate systems into a single real-time hub, helping banks address challenges associated with core modernisations. This approach allows institutions to simplify data integration, develop new products and services more quickly, and avoid significant disruptions to existing operations. 

The integration of Percipient’s technology into Accenture’s offerings aims to further improve its ability to support banks in transitioning from legacy systems to cloud-enabled and AI-driven services. Recent research from Accenture suggests that banks adopting modern digital cores could experience up to 60% higher revenue growth and a 40% increase in profitability. 

In the company press release, officials from Accenture noted that the addition of Percipient’s technology will help streamline modernisation efforts, enabling banks to expand their offerings, accelerate product launches, and enhance customer engagement through advanced technologies such as cloud computing and artificial intelligence. 

In turn, Percipient’s founder and CEO emphasised a shared commitment to advancing digital transformation in the financial sector. It’s worth noting that the terms of the transaction were not disclosed at the time of writing.

What else has been going on with Accenture? 

These new developments follow Accenture’s investment in EMTECH from September 2024. EMTECH is a company that provides SaaS platforms to help central banks streamline, connect, and modernise their processes and operations.   

This investment, made through Accenture Ventures supported EMTECH in its efforts to transform central banks’ financial and technology infrastructure and make it easier for central banks to regulate and supervise fintechs in an increasingly digital economy.