Accenture announced that it has invested in EMTECH, a financial technology company that provides software-as-a-service platforms to help central banks streamline, connect, and modernize their processes and operations.
This investment, made through Accenture Ventures, will support EMTECH in its efforts to transform central banks’ financial and technology infrastructure. It will also make it easier for central banks to regulate and supervise fintech in an increasingly digital economy.
EMTECH works with financial institutions to solve pressing challenges, such as testing new banking applications, meeting regulatory criteria, accelerating payments and settlement times, and driving financial inclusion for the unbanked and other parts of society that have been excluded.
Accenture will integrate EMTECH products for digital cash, regulatory sandboxes, and compliance into the company’s core banking transformation services.
“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 payment systems, enhance their supervisory capabilities, and develop the critical infrastructure needed for tokenization and central bank digital currency.”
“This investment and collaboration are the results 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,” he added.
EMTECH will also join Accenture Ventures’ Project Spotlight, an engagement and investment program for startup companies that create or apply disruptive enterprise technologies.
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