IBM will tap into Expertus’s decades of consulting experience to address the payment modernisation challenges of financial institutions


IBM CHQ in Armonk, NY - October 2014. (Credit: Treesmittenex/Wikipedia.)

IBM has acquired Expertus Technologies, a Montreal-based fintech company, to expand its hybrid cloud and AI strategy and offer digital payment solutions.

Expertus offers payments and cash management solutions that modernise payment operations, including real-time cross-border payment processing.

The cloud-based payments will help financial institutions to develop and provide new consumer services, while meeting regulatory requirements for financial data transmission and fraud detection.

The acquisition enables IBM to tap into Expertus’s decades of consulting experience to address the payment modernisation challenges of financial institutions.

Also, the transaction will expand the company’s capabilities to manage complex integrations, technologies, people and processes in the finance industry, said the company.

The transaction builds on IBM’s acquisition of SAP consulting partner TruQua last month, which supported IBM Global Business Services in modernising cloud application and finance transformation expertise.

IBM Services senior vice-president Mark Foster said: “Financial institutions must balance greater demand for secure digital solutions while complying with rapidly evolving regulation.

“Expertus’s 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.”

Expertus acquisition will help IBM offer AI data and analytics for financial institutions

IBM said that it is committed to simplifying the payment transaction experience while being in line with the regulations and improving fraud detection.

The acquisition would enable IBM to offer financial institutions with the full range of intelligent workflows, end-to-end business processes embedded with AI, data and analytics.

The transaction will transform the payments and treasury management on the cloud with real-time data, easy to use interfaces and improved pricing.

Also, the transaction complements the deep industry expertise, security and resiliency available through IBM Cloud for Financial Services.

IBM has added Expertus to its Global Business Services, with plans to consolidate Expertus’s Payments Platform as a Service offering.

Expertus is engaged in providing cloud solutions for the financial services industry, including banks, credit unions, regulatory agencies and corporates around the globe.

Also, the company is one of the major services bureaus of the Society for Worldwide Interbank Financial Transactions (SWIFT) North America. SWIFT is a network used by banks and financial institutions to manage money transfers and treasury transactions.

Expertus CEO and founder Jacques Leblanc said: “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.”

“IBM and Expertus’s 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.”