Accenture to Buy IBM’s Majority Stake in UniCredit IT Joint Venture

UniCredit, Accenture and IBM have entered into a long-term strategic partnership to build a new banking technology platform that will support UniCredit’s operations across its 13 European markets.

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The partnership aims to create a new technology operating model that combines the reliability of core banking systems with the flexibility of cloud, data and artificial intelligence (AI).

The companies said the new platform will help UniCredit improve innovation, modernise its technology infrastructure and expand the use of AI across the bank.

Accenture to Acquire Majority Stake in Joint Venture

As part of the agreement, Accenture will acquire the majority stake from IBM in the joint venture that currently manages a significant part of UniCredit’s technology infrastructure.

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IBM will continue to provide its IBM Z platform, software and consulting services as part of a multi-year technology modernisation programme.

The companies said the collaboration supports UniCredit’s long-term growth plans and is expected to become a model for future banking technology in Europe.

Focus on Cloud, AI and Long-Term Growth

Ali Khan, Group Digital & Information Officer at UniCredit, said technology is a key part of the bank’s growth and transformation strategy.

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He said the partnership with Accenture and IBM will help build a stronger banking platform that combines stability with the ability to introduce new technologies, including AI, in a responsible manner.

Mauro Macchi, Chief Executive Officer of Accenture EMEA, said the partnership will help speed up the adoption of cloud, data and AI while creating greater value for customers, employees and communities across Europe.

Ana Paula Assis, Senior Vice President and Chair, IBM EMEA & APAC, said the expanded partnership reflects the companies’ shared focus on innovation.

She said the combination of IBM’s technology and UniCredit’s hybrid cloud environment will support the bank’s long-term growth and improve customer experience.

Subject to Regulatory Approvals

The transaction is subject to regulatory approvals and other customary closing conditions, including applicable information and consultation procedures.

Once completed, the partnership will support UniCredit’s long-term technology roadmap by modernising its core banking systems and improving operational efficiency. The companies also plan to strengthen the bank’s digital capabilities by expanding the use of cloud, data and AI across its operations.

The collaboration is expected to help UniCredit respond faster to changing customer needs, introduce new digital services more quickly and support future business growth across its European markets.

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