KUALA LUMPUR (July 22): Accenture said it has acquired Aristal, a Malaysia-based management consulting firm, which will mark the global giant’s first banking-focused acquisition in the country.

The acquisition strengthens Accenture’s talent and capabilities to help banks in Malaysia upgrade their core systems, improve operations, and manage large-scale changes like mergers and system transitions, the global consulting giant said in a statement.

The financial terms of the transaction were not disclosed.

Accenture said Aristal’s team of 30 will join its financial-services practice in Malaysia.

“This acquisition expands our pool of experienced professionals in Malaysia, and strengthen our ability to support clients, driving core banking transformation,” said Azwan Baharuddin, country managing director, Malaysia, at Accenture.

The acquisition comes at a time when banks across the region are upgrading their platforms to keep pace with complex mergers, acquisitions, and regulatory demands. Banks in Malaysia also have been spending heavily to modernise and upgrade their information technology (IT) systems.

Founded in 2006, Aristal specialises in advisory services, having helped deliver large-scale IT and business transformation programmes for financial institutions across Malaysia, Indonesia, Singapore, and Thailand.