Marsh McLennan’s Oliver Wyman Completes Innopay Acquisition
The global leader in management consulting, Oliver Wyman – a business of Marsh McLennan – has announced the completed acquisition of Innopay.
Oliver Wyman says the deal complements its existing payments consulting and payments capabilities.
Innopay: Delivering end-to-end payments
With Innopay as part of its portfolio, Oliver Wyman is confident of delivering strategy, scheme development and greater execution in the digital payments domain, as well as open finance, digital identity and data sharing.
Per the deal, Innopay joins Oliver Wyman as a specialist consulting business within the group’s European region. As such, Innopay will continue to operate in the Netherlands and Germany, maintaining its existing presence in Amsterdam and Frankfurt.
Indeed, Innopay is known for its end-to-end offering in payments, supporting companies and organisation to identify opportunities in the digital realm.
Founded in 2003, Innopay is a founding member of Holland FinTech – a tech hub driving ecosystem connections with wider Europe, the US, the Middle East and Asia.
On its deal with Oliver Wyman, Innopay CEO Shikko Nijland says: “Oliver Wyman’s acquisition opens up new opportunities for us to expand our reach and deliver impactful solutions to clients.
“We are excited to be part of a larger organisation that shares our values for growth and innovation and are thrilled to officially join forces. Together, we will unlock new value for our clients and colleagues alike.”
With a mission to guide organisations worldwide in embracing digital transactions, Oliver Wyman’s acquisition of Innopay comes good on its mission to have access to better data to enhance payments.
Indeed, we spoke to Dr. Stephen Whitehouse, Partner and Head of Payments for Europe at Oliver Wyman on the subject at Money20/20 Europe 2023.
He said at the time: “The future is all about information, where the payments process is something in the background of the customer experience.
“Consumers and businesses are going to be paying for the value of information a data provider can give. It’s these businesses that will be able to differentiate themselves, using machine learning and AI on the back of quality data.”
Now that Oliver Wyman has completed its Innopay acquisition, Whitehouse adds: "The completion of the acquisition of Innopay heralds a considerable enhancement of Oliver Wyman's payments capabilities.
“We look forward to combining our strengths and collaborating with Innopay, leveraging their expertise to deliver exceptional value and catalyse growth within the payments industry."
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