Accenture invests in EMTECH to modernize central bank operations
NEW YORK, UNITED STATES — Outsourcing giant Accenture has announced its investment in EMTECH, a fintech firm specializing in software-as-a-service (SaaS) platforms for central banks.
This move, made through Accenture Ventures, aims to help EMTECH streamline central bank operations and enhance their ability to regulate fintech companies.
While the terms of the investment were not disclosed, it comes amid increasing complexity in the financial regulatory environment, with central banks worldwide exploring faster payment systems and central bank digital currencies (CBDCs).
Transforming central bank infrastructure for the digital age
EMTECH’s innovative platforms focus on streamlining and connecting central bank processes, offering solutions for digital cash, regulatory sandboxes, and compliance. These technologies are designed to address pressing challenges faced by central banks worldwide, including:
- Testing new banking applications
- Meeting evolving regulatory criteria
- Accelerating payments and settlement times
- Exploring faster payment systems
- Developing central bank digital currencies (CBDCs)
Accenture plans to integrate these products into its core banking transformation services, addressing pressing challenges such as testing new banking applications, meeting regulatory criteria, and accelerating payments and settlement times.
“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.”
Collaboration for digital transformation
Accenture and EMTECH’s partnership is rooted in a shared vision of guiding banks through the era of tokenization.
“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.”
This investment is part of Accenture’s commitment to supporting underrepresented entrepreneurs. EMTECH will join Accenture Ventures’ Project Spotlight, an engagement and investment program that provides startups with access to Accenture’s domain expertise and enterprise clients.
Accenture, ranked #1 in the OA500 2024 index of top outsourcing companies, serves clients in over 120 countries with a workforce of approximately 742,000 people. The company’s diverse range of services includes strategy & consulting, technology, operations, Industry X, and Accenture Song.
EMTECH, founded by former IBM Blockchain Executive Carmelle Cadet, offers platforms that power regulatory data exchange, compliance, supervision, currency issuance, and currency movement in financial markets.
