KUALA LUMPUR, Accenture (NYSE: ACN) has acquired Malaysia-based consulting firm Aristal, marking its first banking-focused acquisition in the country. The move strengthens Accenture’s ability to help Malaysian banks modernize their core systems, streamline operations, and manage major changes such as mergers and system upgrades.
Founded in 2006, Aristal is known for its strong expertise in core banking transformation and has successfully delivered large-scale IT and business change projects across Malaysia, Indonesia, Singapore, and Thailand.
“Aristal has a proven track record in helping banks improve outdated systems and enhance customer experience,” said Paul Ng, Financial Services Lead for Southeast Asia at Accenture. “Their skills in platform implementation and post-merger integration will strengthen our services across the region.”
The firm’s team of 30 experienced professionals will join Accenture’s Financial Services division in Malaysia, combining local banking knowledge with Accenture’s global technology and operations expertise to deliver end-to-end transformation for clients.
With banks across Southeast Asia facing growing pressures from regulatory demands, M&As, and digital competition, the region is expected to invest heavily in core system upgrades. The global core banking market is forecast to reach USD 28.8 billion by 2027.
“This acquisition grows our local talent pool and boosts our ability to help clients embrace modern core systems, AI, and data,” said Azwan Baharuddin, Accenture’s Country Managing Director for Malaysia. “It reflects our ongoing investment in the country’s financial services sector.”
Lin Kok Liong, Managing Director at Aristal, added: “Joining Accenture allows us to scale our impact and tap into its global resources. We’re excited to bring more value to clients and grow with the team.”
This acquisition follows Accenture’s continued focus on Southeast Asia, including the acquisition of Percipient’s digital twin technology in Singapore and the launch of its AI Refinery Engineering Hub in the region.
Financial details of the Aristal deal were not disclosed.
