Accenture has expanded its banking capabilities in Malaysia through the acquisition of Aristal, a consultancy specialising in financial services and digital transformation.
This marks Accenture’s first acquisition focused on banking in the country.
The financial terms of the deal were not revealed.
Established in 2006, Aristal is said to have expertise in core banking transformations and has executed large-scale IT and business transformation projects across Southeast Asia.
The acquisition will enable Accenture to enhance its ability to assist Malaysian banks in upgrading core systems and managing significant changes such as mergers and system transitions.
Aristal’s team of 30 professionals will join Accenture’s Financial Services practice in Malaysia. By combining Aristal’s expertise with Accenture’s technology and managed services, the firm aims to deliver comprehensive transformation projects more effectively.
Aristal managing director Lin Kok Liong said: “Joining Accenture opens up tremendous opportunities for our team here in Malaysia to grow and contribute on a larger stage.
“By integrating into Accenture’s global network of innovation and talent, we’re not only expanding our own capabilities, but also enhancing the value we can deliver to clients locally.”
According to Accenture, the banking sector in the region is undergoing a shift, with institutions upgrading core platforms to handle complex mergers and regulatory requirements. The global core banking market is expected to reach $28.8bn by 2027, with Malaysia expected to follow this trend as banks seek to modernise systems and enhance digital capabilities.
Accenture Malaysia country managing director Azwan Baharuddin said: “This acquisition expands our pool of experienced professionals in Malaysia and strengthens our ability to support clients driving core banking transformation.
“It reflects our commitment to developing local talent and helping clients harness the power of technology, data, and AI to reinvent how they operate, compete, and grow in an increasingly dynamic banking landscape.”
This acquisition is part of Accenture’s broader strategy to invest in Southeast Asia, supporting clients’ adoption of artificial intelligence (AI), cloud solutions, and modern systems. Recent strategic moves by the firm include acquiring Percipient’s digital technology for banks in Singapore and setting up an AI Refinery Engineering Hub to foster innovation across the region.
In April 2025, Accenture Ventures invested in GoUpscale, a company specialising in content engagement technology for wealth management firms across Asia. GoUpscale’s AI-powered tools transform traditional materials into interactive digital experiences aimed at improving client engagement.
