SINGAPORE; Jan. 7, 2025 – Accenture (NYSE: ACN) has acquired a digital twin technology platform for banks developed by Percipient, a Singapore-based fintech company with deep experience in banking technology transformation. The acquisition enhances Accenture’s existing banking modernization capabilities, helping financial services clients in Asia Pacific accelerate the reinvention of their core systems, foster innovation and drive growth. Percipient’s platform serves as a digital twin—or virtual duplicate—of banks’ legacy and modern systems, integrating and unifying the data from each one into a single-real time hub. This can reduce the challenges that many banks face around core modernizations by simplifying the application of data and enabling faster development of new products and services, all without overhauling existing systems or disrupting operations. Integrating Percipient’s digital twin solution further complements Accenture’s capabilities to help banks decouple from legacy systems and embrace cloud and AI-led banking services. Banks that shift to a modern, cloud-enabled digital core can attain up to 60% higher revenue growth rates and a 40% increase in profits, according to recent research from Accenture. “Banks’ core systems are often decades old, with layers of tangled code that are costly to maintain, reduce business flexibility and require highly specialized talent, making […]
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