Accenture buys majority stake in banking tech service provider SEC Servizi

Accenture has acquired a majority stake in banking technology service provider SEC Servizi Spa.

Accenture bought a 80.8% stake in the Italian company and it says it will also acquire the remaining interests held by other shareholders.

The global professional services firm said that the acquisition will enable it to create an “advanced and core banking platform that can support banks in their transition to digital.”

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Accenture said that it will also help it build on its presence in the banking technology market in Italy.

The firm noted that it will also continue to provide services to SEC Servizi Spa’s existing customers such as Intesa Sanpaolo.

Established in 1972, SEC Servizi is a consortium formed by Italian banks to provide IT services and outsourcing solutions for banks and other financial institutions in the country.

It’s offering includes application and facility management, centralised back office services and specialised multi-channel, consulting, education and support solutions.