Accenture Steps Deeper Into European Banking With SKS Acquisition

Accenture acquired German SAP consultant SKS Group, gaining wider access to several deep-pocketed banking clients in Europe.

Hochheim-based SKS employs around 300 professionals, offering technology and regulatory compliance services to financial services providers in the region.

With nearly half a dozen distribution centers in Germany, Austria and Switzerland, SKS’s technology tools are critical for banks to comply with government regulations in the various countries in which they operate.

The acquisition equips Accenture with both technology solutions as well as skilled professionals. SKS subsidiaries, such as Data Vision and Interexa, provide data analytics and other IT solutions.

“SKS Group’s strong capabilities for specialized banks will expand our banking services to new clients,” said David Cordero, who leads Accenture’s Banking industry group in Europe.

This is Accenture’s fourth acquisition in Germany, following Allgemeine Rechenzentrum GmbH (ARZ), BCS Consulting and Exton Consulting.

Accenture also has a stake in Switzerland-based payment-as-a-service provider Imbers, whose clients include Generali Group and several insurance companies.

“With SKS Group’s deep industry knowledge and technology expertise, we will be in an even stronger position to help banks modernize their legacy technology, manage risk and accelerate growth,” stated Christina Raab, market unit lead for Accenture in Germany.