Tech Mahindra has acquired Finastra’s Cash Management product suite, comprising Fusion Cash Management, Fusion Virtual Accounts and Fusion Liquidity Management.
Announced on October 23, the acquisition includes associated intellectual property and capabilities across CashPlus, Global CashPlus, APIs, payables, receivables, balance and transaction reporting, liquidity management, cash-flow forecasting and virtual accounts.
Experienced product engineering and customer success staff will move to Tech Mahindra. The company said the transaction aims to maintain platform access, services and support for existing customers.
“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 at Finastra.
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The acquisition transfers both product ownership and the people supporting existing customers. Tech Mahindra’s responsibilities now extend across cash management, virtual accounts and liquidity products. Its commitment to continued investment sits alongside the immediate task of maintaining the services banks already use.