Accenture PLC and IBM announced on Friday a long-term strategic agreement with Italy's UniCredit bank to modernize its technology infrastructure and advance artificial intelligence initiatives across Europe.

Under the deal, Accenture PLC will acquire a majority stake in a joint venture that currently manages the bulk of UniCredit's technology infrastructure. IBM will continue providing the bank with technology platforms, including IBM Z systems, software, and consulting services.

The partnership aims to establish a new operating model for UniCredit's banking technology, integrating cloud, data, and AI capabilities with mission-critical infrastructure to support the bank's operations in 13 European markets. UniCredit, one of Europe's leading commercial banks, serves over 20 million customers in Italy, Germany, Austria, and Central and Eastern Europe. In 2025, the group managed €535.4 billion in deposits, €433.5 billion in loans, and reported net income of €10.979 billion.

The transaction is subject to regulatory approvals and other customary closing conditions. Financial terms were not disclosed.