Accenture acquires Singapore’s digital twin tech for banks
SINGAPORE, SINGAPORE — Outsourcing giant Accenture has announced its acquisition of a pioneering digital twin technology from Percipient, a fintech innovator based in Singapore.
This new asset, specifically designed for the banking sector, aims to streamline core modernization processes for financial institutions throughout the Asia Pacific region.
While the financial terms of the deal remain undisclosed, Accenture is set to boost innovation and drive growth within the banking industry by merging Percipient’s technology with its existing services.
Strategic integration
Percipient’s digital twin platform acts as a virtual counterpart to banks’ existing systems, whether legacy or modern, seamlessly integrating data into a unified, real-time hub.
This integration facilitates easier navigation of common banking challenges, such as updating core operations without extensive disruptions or the need for overhauls.
The technology enables quicker development of new banking products and services while maintaining current systems.
Accelerated growth and efficiency
The integration of Percipient’s technology into Accenture’s suite of offerings allows banks to transition away from outdated legacy systems towards more agile, cloud-based, and AI-driven banking solutions.
Recent studies by Accenture highlight that banks adopting modern digital cores can achieve up to 60% higher revenue growth and a 40% boost in profits.
Leadership perspectives
“Banks’ core systems are often decades old, with layers of tangled code that are costly to maintain, reduce business flexibility and require highly specialized talent, making the need for transformation urgent,” said Masashi Nakano, Accenture’s Financial Services lead for Asia Pacific.
“Percipient’s unique capabilities strengthen our existing core modernization offerings, enabling banks to efficiently unlock new opportunities for growth, launch new products faster, and deepen customer engagement through cloud, data, and AI.”
Navin Suri, the founder and CEO of Percipient, who will join Accenture with his core technology team, remarked on the acquisition: “We have a shared vision to reinvent how digital transformation is achieved at financial institutions… We can enable banks to more seamlessly transform their legacy systems and gain agility and speed, while lowering the risk associated with such modernization efforts.”
Accenture’s prowess in the industry is further affirmed by its ranking as #1 in the OA500 2024, an objective index of the world’s 500 top outsourcing companies, marking the second consecutive year at the top.
The company delivered a solid performance in the first quarter of fiscal 2025, reporting revenues of $17.7 billion, a 9% increase in U.S. dollars and 8% in local currency compared to the same quarter last year.
