Digital Banking Infrastructure company, M2P Fintech that powers the digital ambitions of banks, lenders, fintech and other financial services players today announced the multi-million-dollar acquisition of Transaction Behavioural Intelligence (TBI) company - Goals101.
CNBCTV18 learns that the deal size is ₹250 crores and it is a 100% acquisition. Goals101 will be integrated into M2P Fintech over a period of time and all the employees have been retained.
Seven year old company, Goals101 has an expertise in Transaction Behavioural Intelligence and has developed a platform that runs on advanced algorithms and analytics tools to provide invaluable insights into consumer transaction patterns and orchestrates actionable.
This acquisition empowers M2P Fintech to leverage Goals101's technology and integrate it seamlessly into its existing suite of financial services. By combining M2P's robust fintech infrastructure with Goals101's state-of-the-art analytics, the companies aim to revolutionize the way financial transactions are understood and optimized.
The proprietary technology built to serve data intelligence by leveraging the best of Artificial Intelligence and Machine Learning allows financial institutions to gather insights into their data that can be tailored to accelerate their business growth.
The platform enables real time, contextual intelligence that empowers financial institutions to have a well-rounded
data platform that covers all aspects of customer journey including driving customer engagement, increasing spends thereby larger share of wallet, cross sell as well as up-selling of new products, lifecycle interventions, addressing customer inactivity and predictive tools to reduce attrition.
“At M2P Fintech we are committed to bring together capabilities that will deliver a holistic next generation banking experience for our customers and Goals101 is a big leap in our ambitions to deliver cutting edge data capabilities. We are certain that Visham, Milan and the broader team at Goals101 will build on the leadership they have created and can leverage the synergies accruing on top of our platform," said Madhusudanan R, Co-Founder and CEO of M2P Fintech.
This acquisition will act as a catalyst for M2P to bring in a high degree of personalization in its digital banking products to its customers. Post the acquisition, the Goals101 team will continue to work on rolling out new data capabilities, leveraging its big data platform to create more facets of personalization in financial products for customers across the world.
Goals101 already works with leading payment networks and banks across multiple geographies across India, MENA and South East Asia. Goals101 is also working with the leader in Digital Payment in India to help drive Credit and Debit Card interventions to drive better outcomes with speed, relevance and delivering customer delight.
Goals101 was founded by industry veterans including Visham Sikand (HBS Alum who has launched multiple big scale businesses including Plat5 & Indian Health Organization which was acquired by Aetna Inc, USA), Milan Naik, Anshuman Pandey, Ishank Joshi and Anupam Bhat. During the course of operations Shivam Maheshwari and Nikhil Raj were elevated as Co-Founders.
Founded in 2014,
M2P Fintech is an omni-channel platform that operates in over 20 markets across the Asia Pacific, MENA, and Oceania regions.
M2P claims it pioneers next generation financial services products through innovative offerings, and powers 300+ banks, 100+ NBFCs, and 800+ fintech engagements across various industries serving over 35 million end users. Its comprehensive technology stack powers the core banking system, core lending suite, BNPL, customized credit cards, prepaid cards, and more.
First Published: Dec 13, 2023 1:08 PM IST
