Accenture Partners with Bankdata to Modernize Capital Markets Platform in Denmark

Accenture Partners with Bankdata to Modernize Capital Markets Platform in Denmark

(IN BRIEF) Accenture has entered into a multi-year agreement with Bankdata, a major fintech company in Denmark and the Nordic region, to transform and migrate its capital markets platform to the cloud. Bankdata will utilize Accenture’s Applied Technology and Operations for Markets service, supported by Murex’s MX.3 platform, to provide trading, treasury, post-trade processing, and risk services for both Bankdata and its member banks. This shift to cloud-based infrastructure will enable rapid provisioning of development and testing environments, offering scalability based on demand, cost-efficiency gains, and compliance with regulatory requirements. Accenture will collaborate with Bankdata to operate and maintain the platform, ensuring regular upgrades to meet evolving business needs. The platform serves financial products such as currency, derivatives, and interest rate and currency swaps, with daily turnovers of approximately $42 billion, benefiting from this modernization effort.

(PRESS RELEASE) COPENHAGEN, 29-Nov-2023 — /EuropaWire/ — Accenture (NYSE: ACN) has signed a multi-year agreement with Bankdata, one of the largest fintech companies in Denmark and the Nordic region, to modernize its operations and migrate its capital markets platform to the cloud.

Bankdata will leverage Accenture Applied Technology and Operations for Markets, a multi-client service for banks and asset managers that offers a broad range of as-a-service capabilities in front-to-back-office technology and operations processing. The service will utilize Murex’s MX.3 platform to deliver trading, treasury, post-trade processing and risk services for Bankdata and its member banks.

By moving the platform to the cloud, managing it through Accenture’s cloud-hosted architecture, and adopting a regular system upgrade policy, members can provision development and test environments within minutes that can be scaled up and down based on demand. This will help create cost efficiencies while ensuring compliance with regulatory requirements.

Accenture will collaborate with Bankdata to operate and maintain the platform, as well as provide regular upgrades. Bankdata’s ownership group, which includes Jyske Bank and Sydbank, uses MX.3 for trading complex financial products such as currency, derivatives, interest rate and currency swaps, with daily turnover of approximately $42 billion.

Christian Wiese, senior vice president at Bankdata, said, ”We have successfully developed and implemented a capital markets platform which is fundamental to our owners. Now, we enter a collaboration with Accenture affording us considerable flexibility while also optimizing cost-efficiency.”

Tom Syrett, Accenture’s Capital Markets industry lead for Europe, said, “Capital markets firms face continued pressure to deliver agile business offerings that meet clients’ expectations in a cost-constrained environment. The agreement with Bankdata and Murex brings together Accenture’s expertise in managing complex financial platforms with our collective investments in cloud, DevOps, data and AI to deliver long-term results.”

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Media Contact:

Eric Becker
Accenture
+1 720 359 5434
eric.becker@accenture.com

SOURCE: Accenture