IBM has acquired Montreal-based fintech solutions provider, Expertus Technologies Inc.

The deal strengthens IBM’s portfolio as an end-to-end digital payments solution provider and advances the company’s hybrid cloud and AI strategy. It also expands IBM’s finance industry depth and ability to manage complex integrations – of technologies, people and processes – and builds on last month’s acquisition of SAP consulting partner TruQua, which bolstered IBM global business services’ cloud application modernization and finance transformation expertise.

A pioneer in cloud solutions for the financial services industry, Expertus has more than 1,000 customers including banks, credit unions, regulatory agencies and corporates, processing an average of over $50 billion daily on its payments platform.

Mark Foster, IBM Services senior vice president, said: “Financial institutions must balance greater demand for secure digital solutions while complying with rapidly evolving regulation. Expertus’ payment-as-a-service solution expands our hybrid cloud-based payments offerings, transforming payments and treasury management with AI to give financial institutions the flexibility to rapidly innovate and stay competitive as consumer demands evolve.”

Jacques Leblanc, Expertus CEO and founder, said: “Expertus built an efficient and trusted financial services enterprise, that in many ways, was ahead of its time. Together with IBM, we now can offer businesses worldwide the benefits and security of seamless end-to-end financial transactions.”