Accenture will acquire IBM's majority stake in a joint venture that manages a significant portion of UniCredit's technology infrastructure as part of a long-term strategic partnership aimed at modernising the European banking group's technology platform.
UniCredit, Accenture and IBM announced the collaboration on Friday, saying it will establish the technology foundation to support the bank's operations across its 13 European markets while accelerating the adoption of cloud computing and artificial intelligence.
Under the agreement, Accenture will buy IBM's majority stake in the technology joint venture, while IBM will continue to support UniCredit by providing modernised technology platforms, including IBM Z systems, software and consulting services. The companies said the agreement marks the beginning of a multi-year programme to modernise UniCredit's core technology infrastructure and operating model.
The partnership aims to create a new banking technology model that gives UniCredit greater control over its technology roadmap while combining the resilience of mission-critical systems with the flexibility of modern digital platforms.
The transformation is expected to enable faster innovation, improve operational efficiency and support the responsible scaling of artificial intelligence across the banking group.
Ali Khan, Group Digital & Information Officer at UniCredit, said technology is a key pillar of the bank's long-term growth strategy.
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"Our partnership with Accenture and IBM marks an important milestone in building the next generation of our banking platform—combining the resilience our customers expect with the agility to innovate faster and scale artificial intelligence responsibly across the Group," Khan said.
He added that the collaboration would strengthen UniCredit's competitiveness, support sustainable growth and create long-term value for customers, employees and shareholders.
Mauro Macchi, Chief Executive Officer of Accenture EMEA, said the partnership demonstrates how technology can become a strategic growth engine.
"Together with UniCredit, we aim to accelerate the adoption of cloud, data and artificial intelligence to unlock new sources of value and create greater value for customers, people and communities," he said.
IBM will continue to play a key role in the transformation despite divesting its stake in the joint venture.
Ana Paula Assis, Senior Vice President and Chair of IBM EMEA & APAC, said the enhanced collaboration reflects the companies' shared commitment to innovation.
"By combining modern infrastructure with UniCredit's hybrid cloud architecture, we are helping to establish a technology foundation that can support UniCredit's long-term growth while delivering better experiences for its customers," she said.
The transaction remains subject to customary closing conditions, including regulatory approvals and applicable employee information and consultation processes.
The agreement forms part of UniCredit's broader strategy to build a next-generation banking technology platform and establish a scalable model for cloud and AI adoption across Europe's banking sector.
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