Accenture has acquired Altus Consulting from Equisoft for an undisclosed amount, as it seeks to strengthen its strategic advisory and delivery services for financial services firms in the UK.

The terms of the transaction were not disclosed, although Equisoft will retain the former Altus software business.

Altus Consulting is an independent financial services management consultancy with more than 100 clients across the insurance, investment, pensions, and wealth management sectors.

It has developed advisory services that are underpinned by data-driven insight and modelling, with an understanding of the operating models, data, and platforms of financial services companies.

The firm designs and delivers business and technology solutions that aim to help clients tackle issues by improving administration, customer experience, and product design.

Its projects span workplace and individual pensions, annuities, investment and asset management solutions, as well as speciality markets and general insurance segments.

Altus Consulting’s team will join Accenture’s insurance practice in the UK.

“By joining Accenture, we gain the resources to dramatically enhance our offering to clients, whilst maintaining the values and approach that helped us build such a strong business,” stated Altus Consulting CEO, Martyn Evans.

“The move will allow us to deliver end-to-end transformation programmes at scale, from strategy and vision right through to design and delivery.

“This is a pivotal moment for the financial services industry, particularly in insurance where there is still so much untapped potential for technology to innovate products and services.

“We’re excited about the future and to see the impact we can make for our clients with our shared vision.”

Accenture retirement practice global lead, William Pritchett, commented: “As several of the world’s largest economies face a significant proportion of their workforce entering retirement age over the next two decades, the ability for people to prepare well for retirement is increasingly more challenging.

“Government and industry are striving to help, including providing greater access to advice and guidance, narrowing the gender savings gap and establishing innovative risk-sharing products.

“Altus Consulting is a trusted adviser across the insurance and investment industries, bringing relevant experience and IP to enhance Accenture’s ability to address such challenges.”

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