Tech Mahindra Acquires Finastra’s Cash Management Product Suite to Strengthen Banking Products Portfolio
Pune : Tech Mahindra (NSE: TECHM), a leading provider of AI-powered digital transformation and technology consulting solutions to enterprises across industries, has acquired Finastra’s Cash Management product suite, comprising Fusion Cash Management (FCM), Fusion Virtual Accounts (FVA) and Fusion Liquidity Management (FLM). The acquisition positions the product suite for continued investment, innovation and growth under Tech Mahindra’s Banking, Financial Services and Insurance (BFSI) solutions portfolio. It also aims to ensure continuity for existing customers through sustained platform access, ongoing services and customer support, along with the transition of experienced product engineering and customer success talent to Tech Mahindra.
Tech Mahindra has acquired the intellectual property associated with the FCM, FVA and FLM products along with IP and capabilities across CashPlus, Global CashPlus, Application Programming Interfaces (APIs), payables, receivables, balance and transaction reporting, liquidity management, cash-flow forecasting and virtual accounts. Corporate and institutional banks are increasingly focused on improving real-time cash visibility, liquidity optimization, automated payables and receivables, compliance, API-enabled treasury connectivity and lower operating complexity. With ownership of the Cash Management suite, Tech Mahindra is better positioned to help banks address these evolving priorities across cash, liquidity and transaction banking capabilities.
“The acquisition of Finastra’s Cash Management product suite strengthens our banking products portfolio and expands our ability to support financial institutions across critical cash and liquidity management needs,” said, Anil Venuturupalli, SVP, Banking Group & Chief Product Officer, Financial Services, Tech Mahindra. “Through this acquisition, we are creating a strong foundation for continued innovation. Our focus is on evolving these capabilities to help banks address the growing demand for intelligent, connected and efficient cash management solutions.”
The acquisition combines product IP ownership, an installed customer base, expert product and customer-success talent, Tech Mahindra’s Finastra Centre of Excellence, and the existing Tech Mahindra and Finastra partnership credibility. Together, these elements support customer continuity while creating a stronger foundation for future product-led growth in transaction banking.
“This is a good next step for these products, and, most importantly, for the customers who rely on them,” said Ruchir Purwar, Head of Partnerships & Cross Selling Sales for Finastra. “Tech Mahindra brings deep banking and technology expertise and already knows our business well. We’re confident they are well positioned to take these solutions forward and continue supporting customers as their needs evolve.”
The acquisition further strengthens Tech Mahindra’s Banking Products portfolio and creates an IP-led platform to support growth across cash management, liquidity management, virtual accounts, supply chain finance, cashflow forecasting and adjacent transaction banking opportunities.
About Finastra
Finastra provides the mission-critical software that powers thousands of financial institutions in more than 100 countries – including many of the world’s leading banks. Its technology helps financial institutions move money as well as extend and service loans that financial services businesses and consumers rely on every day. Backed by Vista Equity Partners, Finastra combines deep financial services expertise with secure, reliable and scalable technology to help customers modernize operations, accelerate innovation, and grow their businesses in a rapidly evolving industry. Visit Finastra or follow Finastra on LinkedIn.
***
