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Tech Mahindra acquires Finastra’s cash management suite

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Tech Mahindra acquires Finastra’s cash management suite

Tech Mahindra, an AI-driven digital transformation and technology consulting firm serving enterprises in a range of industries, has bought the Cash Management product suite from Finastra, adding three platforms to its banking offering.

The deal covers Fusion Cash Management (FCM), Fusion Virtual Accounts (FVA) and Fusion Liquidity Management (FLM). Alongside the intellectual property tied to these three products, Tech Mahindra has also taken on IP and capabilities spanning CashPlus, Global CashPlus, Application Programming Interfaces (APIs), payables, receivables, balance and transaction reporting, liquidity management, cash-flow forecasting and virtual accounts.

The suite will now sit within Tech Mahindra’s Banking, Financial Services and Insurance (BFSI) solutions portfolio, where the company intends to keep investing in and developing it. Current customers are set to retain access to the platforms, with services and support continuing, while experienced staff from product engineering and customer success will move across to Tech Mahindra.

The transaction brings together product IP ownership, an established customer base, specialist product and customer-success staff, Tech Mahindra’s Finastra Centre of Excellence and the long-standing partnership between the two firms. The company expects this combination to support continuity for clients while laying the groundwork for future product-led expansion in transaction banking.

Tech Mahindra SVP, banking group and chief product officer, financial services Anil Venuturupalli said, “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.

“Through this acquisition, we are creating a strong foundation for continued innovation.



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