Accenture has acquired NIKE Group, an Italian consulting firm that provides regulatory technology (RegTech) services and solutions to financial services firms. Accenture announced its intent to acquire the business on April 14, 2020. Financial terms of the transaction were not disclosed.
NIKE Group’s data-driven approach and compliance platform help clients monitor new regulatory requirements and assist with compliance. This is particularly important as financial services’ compliance departments continue to navigate an ever-expanding and complex set of regulations.
The team at NIKE Group will join Accenture’s Italian Financial Services practice. The acquisition enhances Accenture’s RegTech and compliance capabilities for clients in Italy and across Europe.
“Financial services firms need a data-driven approach to compliance that manages escalating costs, detects regulatory changes faster and creates new efficiencies,” said Massimiliano Colangelo, who leads Accenture’s Financial Services Client Group in Italy.
“NIKE Group’s extensive regulatory industry experience combined with Accenture’s scale and approach to innovation will enable us to create an enhanced data-driven market offering in advanced RegTech that will help clients accelerate their compliance transformations.”
Carlo Giaj Levra, CEO of NIKE Group, said, “We are excited to join Accenture; its size and geographic reach will offer our employees new opportunities to expand their skills and will provide our customers with end-to-end solutions.
“As regulations continue to proliferate across markets, the need for a centralized approach to help organizations manage regulatory compliance strategically is heightened. Together with Accenture, we will continue to develop solutions and technologies to improve governance and compliance processes for financial services, with the aim to expand our services to other industries.”
This acquisition is part of an overall growth strategy to expand critical skills and capabilities in strategic, high-growth areas of the market, which has recently included the acquisitions of financial services data consultancy Mudano and financial services consulting firm Parker Fitzgerald.