Accenture announced that it has invested in EMTECH, a global financial technology company that provides software-as-a-service platforms to help central banks streamline, connect, and modernize their processes and operations.
The investment amount is undisclosed.
Details
This investment, made through Accenture Ventures, will support EMTECH in its efforts to transform central banks’ financial and technology infrastructure and make it easier for central banks to regulate and supervise fintechs in an increasingly digital economy.
Accenture will integrate EMTECH products for digital cash, regulatory sandboxes, and compliance into the company’s core banking transformation services.
Why This Matters
The investment in EMTECH comes as the number of fintechs steadily increases, the regulatory landscape becomes more complex, and many central banks look to update their payments systems to facilitate faster payments and explore developing a central bank digital currency (CBDC).
What They’re Saying
“With constant innovation and digital disruption across financial services, the need for central banks to reinvent how they operate to stay ahead of the industry has never been greater,” said Oliver Reppel, a managing director in Accenture’s Banking practice.
“Our investment in EMTECH will enable Accenture to help central banks modernize their payments systems, enhance their supervisory capabilities and develop the critical infrastructure needed for tokenization and central bank digital currency.”
“This investment and collaboration are the result of a shared vision to guide banks in modernizing their infrastructure and processes for the era of tokenization,” said Carmelle Cadet, co-founder and CEO of EMTECH.
“Successful digital transformation at this scale is a major undertaking that requires cutting-edge technology and industry expertise. That’s why we’re delighted to have Accenture not only investing in our mission but also ready to unlock opportunities with banks across the globe.”
“Underrepresented founders and entrepreneurs are making important strides in technology innovation but often face challenges with access to capital, connections and resources,” said Dujon Smith, global lead for Accenture’s development program focused on underrepresented founders.
“We are proud to invest in EMTECH and help usher in further change and support through mentoring, community engagement and business growth opportunities.”
Between The Lines
EMTECH will also join Accenture Ventures’ Project Spotlight, an engagement and investment program for startup companies that create or apply disruptive enterprise technologies.
Project Spotlight offers extensive access to Accenture’s domain expertise and its enterprise clients, helping startups harness creativity and deliver on the promise of their technology.
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