Professional services firm Accenture has snapped up VERAX Solutions, a Toronto-based technology and systems-integration consulting firm for the financial services sector, for an undisclosed sum.
Set up in 2003, VERAX offers IT strategy, enterprise architecture consulting, project and programme management, financial risk and compliance solutions, business intelligence and data warehousing. The firm offers IT consulting initiatives for wealth management, brokerage and mutual funds, mobile and online banking, retail and commercial banking, insurance and capital markets.
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VERAX has offices in Toronto and Halifax and a workforce of around 180.
Accenture managing director of financial services practice in Canada Robert Vokes said: “The combination of Accenture and VERAX will help enable our clients to react even more quickly and with even more confidence, as banks face increased pressure to adjust to new digital capabilities, new regulatory requests, and increased competition.”
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