Accenture Creates Alnova, A Global Company Specialized in Technological Solutions for the Financial Services Industry
Madrid, November 20, 2000 — Accenture today announced that it has created Alnova Technologies Corporation, a company oriented towards the development and commercialization of comprehensive technological solutions for the financial services industry.
Alnova is based on Altamira, a comprehensive suite of banking solutions and capabilities developed by Accenture that has been highly successful in the European and Latin American markets. The main assets of Alnova, in addition to its experienced professional staff, are Altamira Universal and Altamira onNet, which are among the most powerful solutions in today’s global financial environment, present in more than 80 financial entities in more than 15 countries worldwide.
Alnova will develop and sell licenses for technology solutions that address critical banking needs, including consolidation and centralization of processes and systems, back-office automation, CRM system development, Internet banking, and multichannel delivery. Alnova will also provide services such as strategic assessment, support for installation projects, technical and functional training and maintenance of the solutions.
Alnova has been funded by an initial investment of 3,000 million pesetas. The company begins its operations with 150 employees and a preferred alliance with Accenture, which will provide distribution, consulting and business integration services. More than 1,500 Accenture professionals have been trained on Altamira products.
Alnova intends to expand its operations into other geographic areas, such as the US, UK, North Europe, etc. In order to guarantee success, the support and collaboration of prestigious technological partners will be sought with a view to forming alliances that complement the product offering and provide access to new investments.
More than half of the company’s professional team will be involved in researching new trends and the development of new solutions. A full 20% of Alnova’s the annual turnover will be reinvested in the constant development of the product.
"The formation of this new business brings Accenture one step closer to achieving the vision of its strategy, building a network of businesses that transcends the boundaries of traditional consulting and brings innovations that improves the way the world works and lives," said Carlos Vidal, President of Accenture.
"Alnova is born to a leadership vocation in the innovative technological solutions market for the financial services industry, in addition to being an international ambassador of a business model which has already demonstrated itself to be one of the most efficient and successful in the world," said Mª Teresa Alvarez, Managing Director of Alnova Technologies Corporation.
Two lines of business
Alnova will be dedicated to the development and commercialization of comprehensive solutions with two very specific lines of business:
Moreover, Alnova will rely on three business divisions: The Commercial Division, including the sales and business development areas-, The Services Division, including the consultancy, training and installation support areas, and the Product Development Division, including the R+D, product development, and quality and methods areas. The organization will be headed by Mª Teresa Alvarez, Managing Director of Alnova. She is a recognized and experienced professional in the Altamira solution and in the sector of technological solutions for the financial services industry.
Alnova has planned to open offices in the key markets where the company will be operating.