Tech Mahindra Acquires Three Cash Management Products From Finastra

The acquisition integrates established tools for corporate treasury operations into Tech Mahindra's offerings. Fusion Cash Management (FCM) typically handles daily cash flow, transactions, and reporting. Fusion Virtual Accounts (FVA) streamline reconciliation by enabling virtual sub-accounts within a single bank account, and Fusion Liquidity Management (FLM) assists businesses in optimizing cash positions across various entities, forecasting needs, and managing surpluses.

This move enhances Tech Mahindra's capacity to provide comprehensive support for financial institutions' critical cash and liquidity management requirements. The company has stated its intention to maintain existing customer access to platforms and services, with experienced product engineering and customer success staff transitioning as part of the deal. This suggests a focus on continuity and integration of current operations.

Anil Venuturupalli, SVP, Banking Group and Chief Product Officer, Financial Services at Tech Mahindra, indicated that the acquisition aims to create a foundation for continued innovation. He noted the focus is on evolving these capabilities to address what the company describes as a growing demand for intelligent, connected, and efficient cash management solutions within the banking sector. The transaction builds on an existing partnership and Tech Mahindra’s Finastra Centre of Excellence.