IBM has acquired Expertus Technologies, a FinTech organization focused on bringing enterprise payment architectures into the modern era.
On Tuesday, the tech giant said the acquisition will allow IBM to obtain “decades of consulting experience to address the most pressing payment modernization challenges of financial institutions” in one stroke, through not only Expertus’ existing payment solutions, but also due to the consultants that have extensive experience in the field now joining IBM.
Financial terms were not disclosed.
Founded in 2001, the Montreal, Canada-based company offers payment-as-a-service cloud solutions to banks, credit unions, and enterprise players. Over $50 billion is processed through the Expertus platform daily. Expertus also acts as a SWIFT Service Bureau, utilizing the SWIFT financial network which is used by banks worldwide to manage transactions. …