Accenture Targets Europe and Asian Banks Following FCA Approval

Accenture has won authorization for its new post-trade utility from the U.K. Financial Conduct Authority (FCA), and will look to win European and Asian bank clients.

The FCA approved Accenture Post-Trade Processing Limited, a joint venture between Accenture and Broadridge Financial Solutions, which aims to help banks reduce post-trade processing costs and adapt to new regulations.

The post-trade tech vendor and consultancy is looking to win clients not only in Europe but across Asia and Australia.

“As banks continue to focus on solutions to bring new efficiencies to their back-office operations and create a scalable infrastructure for securities processing, our vision for a future model – where banks pool transactions together to reduce IT and processing costs and implement new regulations – continues to gain traction,” says Owen Jelf, managing director, Capital Markets, Accenture.

Societe Generale Corporate & Investment Banking (SG CIB) was the first client for Accenture Post-Trade Processing Limited in October 2013.