PwC boosts Banking & Financial Services capabilities by acquiring Applications Consulting Training Solutions
August 29, 2022
In this report, HFS highlights that, ‘PwC acquired Applications Consulting Training Solutions, Inc. (ACTS). ACTS is a cloud engineering services company with extensive cloud experience in banking and financial services (BFS) and cross-industry modernization of Microsoft cloud services. By acquiring ACTS, PwC is becoming an increasingly relevant partner choice for the BFS industry’s technology and business leaders.’
It goes on to say that, ‘By joining forces, PwC and ACTS are better positioned to help companies accelerate their cloud journey while delivering client value. This acquisition further validates to clients that PwC is serious about its global strategy, The New Equation, and its commitment to bringing together people and technology that help clients achieve sustained outcomes.’
HFS observe, ‘As Banking and Financial Services is designated as one of PwC’s priority industries to focus on with Microsoft, business leaders can expect them to acquire skills that bring specific high-demand skillsets and address ever important niche focus areas. ACTS 'strong Microsoft relationship and skills allowed PwC to fill this gap faster than building it themselves.’
In HFS’ view, ‘By investing in ACTS, they addressed a gap in their technology and implementation capabilities while boosting their Microsoft Azure for Banking and Financial Services offerings. With ACTS as part of PwC, clients in regional and midmarket banks in North America gain another choice in who they can partner with to modernize their applications and move forward on their cloud-native journey.’
“We believe in the power of cloud to unlock innovation and value — and deliver sustained business outcomes. Industry-specific solutions are an important part of PwC’s cloud services strategy. James Farhat (former ACTS CEO) and the entire ACTS team have been an incredible addition to our cloud practice,” said Matt Hobbs, Microsoft Practice Leader, PwC US. “Our approach to Azure is industry cloud-first to help our clients address their most pressing and important challenges that face financial services firms every day.”
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