IT services major Tech Mahindra announced the acquisition of Finastra's Cash Management product suite, comprising Fusion Cash Management (FCM), Fusion Virtual Accounts (FVA) and Fusion Liquidity Management (FLM). According to reports from Business Standard, the financial details of the deal were not disclosed. The acquisition positions these products for continued investment, innovation and growth under Tech Mahindra's Banking, Financial Services and Insurance (BFSI) solutions portfolio. 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.
The acquisition 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. As reported by Business Standard, Anil Venuturupalli, SVP, Banking Group and Chief Product Officer, Financial Services at Tech Mahindra, stated that the acquisition strengthens their banking products portfolio and expands their ability to support financial institutions across critical cash and liquidity management needs. The focus is on evolving these capabilities to help banks address the growing demand for intelligent, connected and efficient cash management solutions. With ownership of the Cash Management suite, Tech Mahindra is better positioned to help banks address evolving priorities across cash, liquidity and transaction banking capabilities, including improving real-time cash visibility, liquidity optimization, automated payables and receivables, compliance, API-enabled treasury connectivity and lower operating complexity.
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. According to Business Standard, these elements support customer continuity while creating a stronger foundation for future product-led growth in transaction banking. 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. Ruchir Purwar, Head of Partnerships and Cross Selling Sales for Finastra, expressed confidence that Tech Mahindra is well positioned to take these solutions forward and continue supporting customers as their needs evolve.
