India’s M2P Fintech acquires Goals101 to tap AI-led transaction behaviour intelligence
M2P Fintech, an API infrastructure provider based in Chennai, India, has acquired transaction behaviour intelligence company Goals101 for around $30 million (INR 250 crore).
M2P Fintech snaps up Goals101
The deal will see the Goals101 platform, which leverages machine learning and artificial intelligence (AI) to generate insights into consumer transaction patterns, integrated into M2P Fintech’s existing suite of financial services as the firm looks to “revolutionise the way financial transactions are understood and optimised”.
M2P Fintech’s suite currently extends to a core banking and lending system, buy now, pay later (BNPL) functionalities and various card programmes, built to be embedded into the business offerings of banks, fintechs and non-bank financial companies.
The company says the acquisition, which follows its takeover of cloud lending platform Finflux and digital identity platform Syntizen last year, will “act as a catalyst” for personalising its digital banking products, powered by its adoption of the Goals101 big data platform and team.
Following the closure of the deal, Goals101 co-founder Visham Sikand is to transition into a so far undefined leadership role at M2P Fintech.
Madhusudanan R, co-founder and CEO of M2P Fintech, says that the global banking technology space is undergoing “a tectonic shift” in how it leverages data and AI and describes the company’s latest acquisition as “a big leap” in its push to deliver new data-focused capabilities.
