Accenture (NYSE: ACN) has acquired TargetST8 Consulting, a privately held financial services consulting firm specializing in corporate and commercial lending, with offices in New York. Terms of the transaction were not disclosed.
Founded in 2013, TargetST8 focuses exclusively on the financial markets. Serving leading banks and investment firms in the U.S. and Europe, the company helps its clients leverage proprietary digital lending solutions, including deploying artificial intelligence and robotic process automation.
The addition of TargetST8 — with its deep commercial and corporate lending expertise and innovative solutions — will complement and enhance Accenture’s commercial and corporate lending capabilities and bolster its Credit Consulting practice.
“TargetST8 consultants are known for their deep expertise, innovative digital solutions, and outstanding project delivery — particularly in their implementation of Finastra’s Loan IQ solution,” said Alan McIntyre, who leads Accenture's Banking practice globally. “The addition of TargetST8 will enhance our ability to help our commercial and corporate lending clients improve their processes and transform their businesses.”
Steve Shyn, managing partner at TargetST8, said: “Accenture’s scale, scope and reputation for excellence will benefit our clients and enable our employees to further develop their expertise. Our clients and employees will benefit from accelerated opportunities from the acquisition. We are excited to become part of one of the world’s leading companies.”
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