IBM buys fintech firm Expertus to expand digital payment solutions

Tech giant IBM has acquired Montreal-based fintech company Expertus Technologies for an undisclosed sum – a move that is aimed at strengthening IBM’s portfolio as an end-to-end digital payments solution provider and further advancing IBM’s hybrid cloud and AI strategy.

Founded in 2001, Expertus offers payment-as-a-service cloud solutions to banks, credit unions and enterprise players. Over $50 billion is processed through the Expertus platform daily.

The financial terms were not disclosed.

“Expertus’ 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,” explained Mark Foster, Senior Vice President, IBM Services.