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 has not been disclosed.
Details
This investment, made through Accenture Ventureswill support EMTECH in its efforts to transform the financial and technological infrastructure of central banks 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.
Because this matters
The investment in EMTECH comes as the number of fintechs steadily grows, the regulatory landscape becomes more complex, and many central banks look to update their payment systems to facilitate faster payments and explore the development of a central bank digital currency (CBDC).
What They Say
“With continued innovation and digital disruption in financial services, the need for central banks to reinvent the way they operate to stay ahead of the industry has never been greater“, he said Oliver Reppelmanaging director in Accenture’s banking practice.
“Our investment in EMTECH will enable Accenture to help central banks modernize their payment systems, strengthen their supervisory capabilities and develop the critical infrastructure needed for central bank tokenization and digital currency.”
“This investment and partnership is the result of a shared vision to guide banks in modernizing their infrastructure and processes for the era of tokenization“, he said Carmelle Cadetco-founder and CEO of EMTECH.
“Successful digital transformation on this scale is a major undertaking that requires cutting-edge technology and industry expertise. That’s why we’re delighted that Accenture is not only investing in our mission but also ready to unlock opportunities with banks around the world.”
“Underrepresented founders and entrepreneurs are making significant strides in technological innovation, but often face challenges with access to capital, connections and resources“, he said Dujon Smithglobal 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 involvement and business development opportunities.”
Between the Lines
EMTECH will also join Accenture Ventures’ Project Spotlighta commitment and investment program for startups creating or implementing disruptive technologies.
Project Spotlight offers extended 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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