Accenture has made a strategic investment Imburse, a cloud-based, payments-as-a-service enterprise platform, through Accenture Ventures.
The size and terms of the investment were not revealed.
Established in 2018, Zurich-based Imburse collaborates with insurers, banks and other large companies to connect outdated legacy systems to the global payments ecosystem through a single connection leveraging APIs.
Accenture Payments group global head Sulabh Agarwal noted that the payments systems at many companies are being stressed by changing consumer preferences.
Agarwal said: “Imburse’s payments platform removes integration challenges and acts as the payments glue for organisations, fusing together all payments types including bank transfers, credit cards and digital wallets, to offer the customer seamless, quick and secure experiences.”
As part of the investment, Imburse will join Accenture Ventures’ Project Spotlight that aims to connect emerging technology startups with the Global 2000.
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This programme will allow Imburse to access Accenture’s global innovation network.
In addition, the firm will also benefit from the opportunity to co-innovate with Accenture software engineers, system architects and payments experts.
Imburse CEO Oliver Werneyer said that the firm will work together with Accenture ‘to help businesses to fully optimise and future-proof their payment capabilities and leverage payments as a key strategic value driver’.
Werneyer added: “We’re excited for Accenture to join our mission to make access to the global payments ecosystem easier for businesses, bringing deep industry expertise and thought leadership.
Accenture Ventures managing director Tom Lounibos said: “Against a rapidly shifting global payments landscape, we see a huge opportunity for Imburse to add value for our clients and we’re excited to work with them to expand to new markets and scale to new industry verticals.
“Accenture Ventures’ investment in Imburse aligns with our commitment to solve some of the most critical business needs of our clients, which will only become more complex in the future.”
Last year, Bank of England teamed up with Accenture for the overhaul of its Real-Time Gross Settlement (RTGS) service.
In 2017, Accenture agreed to acquire payments consulting and advisory firm First Annapolis Consulting for an undisclosed sum.