Accenture acquires Altus Consulting to bolster financial services in the UK

LONDON: Accenture (NYSE: ACN) has announced the acquisition of Altus Consulting, a prominent player in consulting and digital transformation. This strategic move aims to enhance Accenture’s advisory and delivery services for the insurance, investments, and financial services sectors across the UK.

Founded in 2005, Altus Consulting has established itself as a respected thought leader in the financial services industry, offering data-driven insights and detailed modeling. The company has deep expertise in operating models, data, and platforms that support financial services organizations. Altus Consulting’s dedicated focus spans life, pensions, investments, and insurance, with long-standing relationships with many financial services firms in the UK.

Altus Consulting provides business and technology solutions designed to tackle complex challenges, improve administration, enhance customer experience, and refine product design. Their projects cover workplace and individual pensions, annuities, investment and asset management solutions, as well as specialty markets and general insurance segments like motor and medical.

The Altus Consulting team will join Accenture’s UK Insurance practice, bringing expertise in areas such as distribution, risk and regulation, operating models, data, and technology. Combining Altus Consulting’s sector knowledge with Accenture’s technology and customer experience capabilities will facilitate end-to-end transformation projects for clients on a larger scale. Additionally, Altus Consulting contributes a range of software products, including an operational and regulatory impact assessment tool, to complement Accenture’s existing assets.

“A strong financial services sector is the backbone of a thriving economy in the UK,” said Carmina Lees, Insurance Lead for Accenture in the UK & Ireland. “Advances in technology present a significant opportunity to create growth and efficiencies, but only if harnessed effectively. Our acquisition of Altus Consulting will accelerate our goal of helping clients reinvent their business and build digital capabilities that better serve customers as they plan for their futures.”

William Pritchett, Global Lead for Accenture’s Retirement practice, highlighted the growing importance of preparing for retirement. “With a significant portion of the workforce entering retirement age over the next two decades, preparing well for retirement is increasingly challenging. Altus Consulting’s experience and IP will enhance Accenture’s ability to address these challenges.”

Martyn Evans, CEO of Altus Consulting, expressed optimism about the future. “Joining Accenture allows us to dramatically enhance our offering to clients while maintaining the values that built our strong business. This move enables us to deliver end-to-end transformation programs at scale, from strategy and vision to design and delivery.”

Altus Consulting joins a series of significant acquisitions by Accenture, such as BCS Consulting and Mudano, expanding its offerings for clients in the UK financial services sector. Altus Consulting was acquired from Equisoft Inc., which retains its former software business, continuing to provide software products and tools within the life insurance, pensions, and investments industries.