The acquisition expands M2P Fintech’s capabilities to offer hyper personalized solutions by leveraging one of the fastest growing big data platforms in the banking technology space.
Mumbai, 13 December 2023: M2P Fintech, Asia’s largest Digital Banking Infrastructure company that powers the digital ambitions of banks, lenders, fintech and other financial services players today announced the multi-million-dollar acquisition of Goals101, the leader in Transaction Behavioural Intelligence (TBI) in India and other geographies. Goals101, the 7-year-old company, renowned for its expertise in Transaction Behavioural Intelligence, has developed a Platform that runs on advanced algorithms and analytics tools that provide invaluable insights into consumer transaction patterns and orchestrates actionables. 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 multi award winning 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.
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, as an example Goals101 works with many large banks in India and leading Payment Networks internationally to build insights to drive higher spends from set of merchants through its Merchant connect platform. 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 co-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 & Anupam Bhat. During the course of operations Shivam Maheshwari and Nikhil Raj were elevated as Co-Founders.
Madhusudanan R, Co-Founder and CEO of M2P Fintech, commented, “The global banking technology space is undergoing a tectonic shift with respect to leveraging data and AI in the most prominent areas like Customer service, Product and Portfolio management, Risk and compliance. It is imminent that data intelligence will make the ‘new oil’ refine insights that are actionable and can deliver outcomes. 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.
Visham Sikand, who will take up a Leadership role at M2P Fintech and continue building on the vision of Goals101 said, “Have always been excited to build a disruptive and innovative business model with each of my startups. Goals101 was set on the same ethos wherein we wanted to lead the digital transformation journey for banks using transaction behavioural intelligence tools & automation. It’s a win-win for the bank, merchant and end customer. M2P Fintech’s product suite, innovation led culture and leadership team excited us to join hands. We believe in product scalability and with M2P, and our pathbreaking data-led tech stack, we’re excited about what we can do in the global space. I would like to express my gratitude to all investors, business partners, advisors and my team who pioneered this journey”.
Milan Naik, Co-founder at Goals101 added “The deep strategic and product alignment between Goals101 and M2P makes this partnership meaningful. For me personally, nothing could be more exciting than to have the first entrepreneurial venture getting acquired by an Industry leader like M2P. With M2P, I see Goals101 growing exponentially in the years to come”.
Sameer Brij Verma of Nexus Venture Partner adds “Goals101 brought a very fresh approach to banking, where their focus was on customer-centricity but led purely via data and technology. I fondly remember how we closed the term sheet within hours of meeting the company. I would also like to reiterate the value of running strong foundation and sustainable companies. Goals101 is a great example of this wherein the founders set examples around how to run companies on strong value systems and team spirit. We believe M2P and Goals101 together make a very formidable combination and are excited to join hands with M2P and become a part of their journey””.
Founded in the year 2014 and headquartered in Chennai, M2P Fintech is Asia’s largest banking infrastructure company whose technology powers the digital ambitions of banks, lenders, fintechs and other financial services players. M2P Fintech is an omni-channel platform that operates in over 20 markets across the Asia Pacific, MENA, and Oceania regions. M2P 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. Our comprehensive technology stack powers the core banking system, core lending suite, BNPL, customized credit cards, prepaid cards, and much more.
