Innopay strengthens Oliver Wyman payment consulting wing

05 March 2024 Consultancy.uk 2 min. read

Oliver Wyman has acquired payment advisory firm Innopay. The move will complement Oliver Wyman’s existing payments consulting capabilities, and concludes for an undisclosed fee.

Shikko Nijland, CEO, Innopay added, “Oliver Wyman’s acquisition opens up new opportunities for us to expand our reach and deliver impactful solutions to clients. We are excited to be part of a larger organisation that shares our values for growth and innovation and are thrilled to officially join forces. Together, we will unlock new value for our clients and colleagues alike.”

Since its founding in 2002, Innopay has grown into an international player in the digital transactions consulting field. Headquartered in the Netherlands, with a growing number of branches, including in Amsterdam, Berlin andFrankfurt, the firm’s 60 experts have played a leading role in the establishment of major digital payment platforms, from banking transactions with iDEAL to transport purchases via OV Pay. It is also a founding member of Holland FinTech, a hub that connects fintech organisations from Europe, the United States, the Middle East and Asia.

Innopay strengthens Oliver Wyman payment consulting wing

With Innopay’s services capturing an end-to-end offering in the payments sector to support companies and organisations, it has attracted interest from Oliver Wyman – which is itself enjoying exciting growth in the financial services world. Joining the strategy consultancy in its European region, Innopay will complement Oliver Wyman’s existing payment consulting capabilities, while allowing for further expansion.

Innopay will maintain its presences across Europe as a distinct brand. Further terms of the transaction were not disclosed.

Commenting on the transaction, Stephen Whitehouse, head of payments for Europe at Oliver Wyman, said, "The completion of the acquisition of Innopay heralds a considerable enhancement of Oliver Wyman's payments capabilities. We look forward to combining our strengths and collaborating with Innopay, leveraging their expertise to deliver exceptional value and catalyse growth within the payments industry.

Oliver Wyman has offices in more than 70 cities across 30 countries, with specialised expertise in strategy, operations, risk management, and organisation transformation. The firm has 7,000 professionals around the world who work with clients to optimise their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. The firm has been enjoying meteoric financial growth in recent times – buoyed by its winning of a major contract to help oversee the integration of UBS and Credit Suisse.