Accenture’s acquisition of design consultancy Allen International should boost the former’s ability to help banks enact vital cost-reducing digital transformation, the company hopes. This increased capability will be required as banks need to accommodate an expected surge of customers switching to digital means.
Allen International has worked with more than 350 banks around the world, including nine of the top 20.
“Our acquisition of Allen International will expand and complement our capabilities to help banks make the branch a physical manifestation of the digital experience,” Accenture senior managing director of financial services in Europe, Latin America and Africa Sushil Saluja said. “Equally crucial it will allow us to help banks reduce their distribution costs, typically by 30 percent, while still maintaining customer engagement.”
Transaction terms were not disclosed.