Nikko Systems Solutions ltd (NKSOL) and Accenture (NYSE: ACN) have signed a five-year agreement to work together to offer information technology (IT) solutions for capital markets firms in Japan, including securities firms, banks and asset managers.
The goal of the agreement is to help financial services firms in Japan improve business performance, capitalize on new opportunities from market deregulation and respond to global competition.
Under the agreement, NKSOL and Accenture will establish joint sales and support teams to market and implement a portfolio of capital markets solutions based on the two companies' service offerings. The solutions include front- and back-office securities trading systems, mutual fund sales systems, and data management services.
The agreement also includes the co-development of solutions that will support a broad range of functions including risk management, integrated CRM and compliance systems for retail banks, mutual fund management systems for asset managers, and institutional portfolio management systems.
The agreement combines the strengths of the two companies by bringing NKSOL's domestic securities industry experience, application know how and capabilities in systems development, maintenance and operation together with Accenture’s global network of delivery centers, leadership in the capital markets sector and consulting and ability to manage complex transformational IT programs.
"The financial sector is faced with an urgent need to reevaluate IT systems in order to grow and increase competitiveness in the global marketplace," said Yoshiharu Kobayashi, CEO of Nikko Systems Solutions. "In today's securities industry, IT innovation is the cornerstone of business differentiation and operational efficiency. Through this collaborative relationship, we will offer state-of-the-art technology products and services for strategic utilization in a corporate environment."
"Recent deregulation in securities, asset management and corporate banking has diversified the business field, altered the value chains and expanded market opportunities for aggressive Japanese financial institutions," said Robert P. Gach, managing partner of Accenture's Financial Services practice in the Asia-Pacific region. "By teaming with NKSOL we can rapidly deliver solutions that will help leading Japanese firms drive down costs and gain new advantages in a globally competitive marketplace."