Oliver Wyman, a division of Marsh McLennan, is the world leader in management consulting, and it has announced that it has successfully acquired Innopay.

According to Oliver Wyman, the agreement enhances its current offering in payments consulting and payments services.

Innopay: Providing end-to-end financial services

Oliver Wyman is confident in its ability to deliver strategy, scheme development, and improved execution in the digital payments space, along with open finance, digital identification, and data sharing, now that it has Innopay in its portfolio.

Innopay becomes a specialist consultancy business within Oliver Wyman's European region as per the agreement. As a result, Innopay will keep up its current presence in Amsterdam and Frankfurt while conducting business in the Netherlands and Germany.

In fact, Innopay is renowned for providing an end-to-end payment solution that helps businesses and organizations find opportunities in the digital space.

Innopay was established in 2003 and is a founding member of Holland FinTech, a tech hub that connects its ecosystem to the US, Asia, the Middle East, and wider Europe.

"Oliver Wyman's acquisition opens up new opportunities for us to expand our reach and deliver impactful solutions to clients," says Shikko Nijland, CEO of Innopay, on the company's agreement with Oliver Wyman.

We are happy to formally join forces and are thrilled to be a part of a larger organization that shares our ideals for growth and innovation. We can create new value together for both our clients and our coworkers.

Oliver Wyman's acquisition of Innopay fulfils its goal of providing organizations globally with guidance on adopting digital transactions. The company also wanted to improve payments by gaining access to better data.

In fact, during Money20/20 Europe 2023, we had a conversation about the topic with Dr. Stephen Whitehouse, Partner and Oliver Wyman's Head of Payments for Europe.

At the time, he declared, "In the future, information will rule everything, and the payment process will just be a small part of the customer experience."

Businesses and consumers will have to pay for the valuable information that a data provider may deliver. These companies will be able to set themselves apart by leveraging AI and machine learning on the basis of high-quality data.

Following the completion of Oliver Wyman's acquisition of Innopay, Whitehouse continues, "Original Wyman's payments capabilities will be significantly enhanced."

"We are excited to work with Innopay, leveraging their experience to deliver exceptional value and spur growth within the payments industry, by combining our strengths."