Accenture has invested in EMTECH
Accenture announced that it has invested in EMTECH, a global financial technology company that provides software-as-a-service platforms to help central banks streamline, connect and modernize their processes and operations. This investment, which was made through Accenture Ventures, will assist EMTECH in its endeavors to modernize the financial and technological infrastructure of central banks, thereby facilitating the regulation and supervision of fintechs in an increasingly digital economy.
EMTECH, like Accenture, collaborates with financial institutions to address urgent issues, including the testing of new banking applications, the fulfillment of regulatory requirements, the acceleration of payments and settlement times, and the promotion of financial inclusion for the unbanked and other excluded segments of society. Accenture will incorporate EMTECH products for regulatory sandboxes, compliance, and digital currency into its core banking transformation services.This investment is indicative of Accenture’s ongoing dedication to facilitating the access of historically underrepresented entrepreneurs to funding, mentorship, and connections to Accenture customers and ecosystem partners. This assistance will facilitate the creation of new economic opportunities and advancements for underrepresented business owners and leaders.
EMTECH participates in Accenture Ventures’ Project Spotlight
EMTECH will also participate in Accenture Ventures’ Project Spotlight, an engagement and investment program for fledgling companies that develop or implement disruptive enterprise technologies. Project Spotlight provides comprehensive access to Accenture’s domain expertise and its enterprise clients, enabling entrepreneurs to leverage creativity and fulfill the potential of their technology.
The investment in EMTECH is a response to the increasing number of fintechs, the increasingly complex regulatory landscape, and the desire of numerous central banks to modernize their payment systems to enable quicker transactions and investigate the development of a central bank digital currency (CBDC).
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Industry Comments
“With constant innovation and digital disruption across financial services, the need for central banks to reinvent how they operate to stay ahead of the industry has never been greater,” said Oliver Reppel, a managing director in Accenture’s Banking practice. “Our investment in EMTECH will enable Accenture to help central banks modernize their payments systems, enhance their supervisory capabilities and develop the critical infrastructure needed for tokenization and central bank digital currency.”
“This investment and collaboration are the result of a shared vision to guide banks in modernizing their infrastructure and processes for the era of tokenization,” said Carmelle Cadet, co-founder and CEO of EMTECH. “Successful digital transformation at this scale is a major undertaking that requires cutting-edge technology and industry expertise. That’s why we’re delighted to have Accenture not only investing in our mission but also ready to unlock opportunities with banks across the globe.”
“Underrepresented founders and entrepreneurs are making important strides in technology innovation but often face challenges with access to capital, connections and resources,” said Dujon Smith, global lead for Accenture’s development program focused on underrepresented founders. “We are proud to invest in EMTECH and help usher in further change and support through mentoring, community engagement and business growth opportunities.”
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