Per the deal, Innopay’s services will be integrated with Oliver Wyman to extend the latter’s existing payments consulting capabilities.
The deal is expected to close before the end of Q1 2024.
Oliver Wyman: Delivering digital payments services with Innopay
In acquiring Innopay, Oliver Wyman has a digital transactions consultancy that delivers strategy, scheme development and execution across digital payments, open finance, digital identity and data sharing.
It can now draw on an end-to-end offering in payments to support companies and organisations to identify and squeeze out opportunities in the digital space.
Per the deal, Innopay will continue to operate as a specialist consultant within Europe, maintaining its presence in both the Netherlands and Germnany (Amsterdam and Frankfurt).
Innopay CEO Shikko Nijland will join Oliver Wyman as Senior Vice President, becoming part of its payments leadership team – where he will report to Dr. Stephen Whitehouse, Partner and Head of Payments, Europe, Oliver Wyman, and Ted Rudholm-Alfvin, Partner, Oliver Wyman.
Whitehouse says: “The European payments landscape is undergoing significant transformation, driven by technological advancements, changing consumer preferences, and regulatory developments.
“Bringing Oliver Wyman and Innopay together creates a unique offering, which will accelerate the impact of our people and work as we look to unlock value through deep industry knowledge and collaboration.”
Indeed, Whitehouse spoke to FinTech Magazine at last year’s Money20/20 Europe, where he discussed ways better use of data is transforming the payments landscape and helping consultancy firms like Oliver Wyman improve and adapt their own client services.
Now partnered with Innopay, Oliver Wyman can offer even more to its existing and future prospective partners and clients.
On the deal, Innopay CEO Nijland adds: “Oliver Wyman’s acquisition of Innopay is a testament to our commitment to growth and innovation.
"Its global network and expertise will reinforce our ability to provide market-leading and exciting new opportunities, helping clients navigate the evolving landscape of digital transactions and providing additional opportunities for our colleagues.”