Oliver Wyman to boost digital payments expertise with Innopay acquisition

Oliver Wyman to boost digital payments expertise with Innopay acquisition

Oliver Wyman, a premier global management consulting firm and a part of Marsh McLennan, has announced its decision to acquire Innopay, a consultancy renowned for its specialisation in digital transactions.

This move is aimed at bolstering Oliver Wyman’s already robust payments consulting services. Although the financial terms of the deal were not disclosed, the acquisition is slated for completion by the end of the first quarter of 2024.

Innopay excels in delivering comprehensive strategies, scheme development, and execution across various domains including digital payments, open finance, digital identity, and data sharing. Their expertise spans the full gamut of the payments sector, aiding companies and organisations to navigate and capitalise on the digital landscape’s opportunities.

This acquisition positions Innopay as a specialist consulting entity within Oliver Wyman’s European operations, maintaining its operational bases in Amsterdam and Frankfurt. Shikko Nijland, Innopay’s CEO, will ascend to the role of Senior Vice President within Oliver Wyman, aligning with the firm’s payments leadership team under the guidance of Dr. Stephen Whitehouse and Ted Rudholm-Alfvin.

Oliver Wyman Partner and Head of Payments, Europe, Dr. Stephen Whitehouse said, “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.”

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