TECH NEWS

Tech Mahindra Expands Banking Portfolio With Finastra Acquisition

Tech Mahindra has announced the acquisition of Finastra's Cash Management product suite, announced on October 23.

The deal brings three products under Tech Mahindra's ownership: Fusion Cash Management (FCM), Fusion Virtual Accounts (FVA) and Fusion Liquidity Management (FLM).

More importantly, Tech Mahindra will own the intellectual property (IP) behind these products, along with related capabilities covering payments, receivables, liquidity management, cash-flow forecasting and virtual accounts.

The acquisition also includes experienced product engineering and customer success talent, strengthening Tech Mahindra's existing banking products business.

More Than a Software Acquisition

The significance of the deal lies in the ownership of the underlying technology.

Tech Mahindra has acquired IP associated with Finastra's cash management products, including CashPlus, Global CashPlus and application programming interfaces (APIs) that connect banking systems with other financial applications.

This gives the company a broader software portfolio covering several functions that corporate and institutional banks rely on.

For example, virtual...

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More Than a Software Acquisition

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