back Back

IBM takes over Expertus Technologies; modernizes hybrid cloud digital payment solutions

By Pavithra R

December 16, 2020

  • Canada
  • IBM
Share

IBM has announced the acquisition of Montreal-based fintech company, Expertus Technologies, strengthening its portfolio as an end-to-end digital payments service provider and further advances IBM’s hybrid cloud and AI strategy.

Founded in 2001, Expertus is a leader in cloud solutions for the financial services industry. It provides corporates and financial institutions with multibank targeted software solutions and consulting services that reduce operational costs and risks. More than 1,000 worldwide entities including credit unions, banks, regulatory agencies and corporates process an average of over $50 bn daily on its payments platform. It is also among the largest North American services bureaus of the Society for Worldwide Interbank Financial Transactions (SWIFT) managing money transfers and treasury transactions.

“Financial institutions must balance greater demand for secure digital solutions while complying with rapidly evolving regulation. Expertus’ payment-as-a-service solution expands our hybrid cloud-based payments offerings, transforming payments and treasury management with AI to give financial institutions the flexibility to rapidly innovate and stay competitive as consumer demands evolve,” said Mark Foster, Senior Vice President, IBM Services.

Through the acquisition, IBM will gain decades of consulting experience to address the most pressing payment modernization challenges of financial institutions. This deal is built on the acquisition of SAP consulting partner TruQua, which strengthened IBM Global Business Services’ cloud application modernization and finance transformation expertise and will expand IBM’s finance industry depth and ability to manage complex integrations.

IBM together with Expertus, will now provide FIs with intelligent workflows, end-to-end business processes embedded with Artificial Intelligence, data and analytics, transforming payments and treasury management on the cloud with easy to use interfaces, real-time data, and improved pricing by reducing cost per transaction. Besides, it complements the industry expertise, security and resiliency available through IBM Cloud for Financial Services.

“Expertus built an efficient and trusted financial services enterprise, that in many ways, was ahead of its time. Together with IBM, we now can offer businesses worldwide the benefits and security of seamless end-to-end financial transactions,” said Jacques Leblanc, CEO and founder of Expertus.

“IBM and Expertus’ long-standing partnership is a great foundation upon which to deepen our relationship. As a home-grown Montréal company, we are proud to bring our offering as well as our commitment to customers to a new level and to a broader market,” added Leblanc.

Expertus is now part of IBM Global Business Services, following its previous successful alliance with IBM Payments Center Canada. IBM will consolidate Expertus’ Payments Platform as a Service offering and build on SWIFT processing services and capabilities to send and receive information about financial transactions.

Previous Article

December 16, 2020

B3 partners with Genesis to address the growth of Brazilian financial markets

Read More
Next Article

December 16, 2020

Form3 & Mastercard partner for access to real-time payment infrastructure

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

Canada

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 24, 2024

Capital on Tap partners with Plaid in the UK

Read More

May 24, 2024

PPRO and Afterpay team to bring BNPL solution to US consumers

Read More

May 24, 2024

Boodil launches innovative Travel Payments Platform

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023