M2P Fintech acquires Transaction Behavioural Intelligence pioneer, Goals101

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 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 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 the customer journey including driving customer engagement, increasing spending 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 spending from a 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 bringing 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 foundations 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”.