By Stephen Nakrosis 
 

International Business Machines Corp. said Tuesday it acquired Montreal-based fintech company Expertus Technologies Inc., a provider of "cloud solutions for the financial services industry."

IBM said "Expertus is now part of IBM Global Business Services, following its previous successful alliance with IBM Payments Center Canada."

IBM also said, "More than 1,000 entities including banks, credit unions, regulatory agencies and corporates around the globe process an average of over $50 billion daily on its payments platform."

Mark Foster, senior vice president, IBM Services, said, "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."

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

December 15, 2020 17:04 ET (22:04 GMT)

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