With the acquisition of Syntizen Technologies, M2P Fintech will bring cutting-edge solutions to build state-of-the-art digital identity products for the BFSI sector in India & across the globe. Currently, M2P has a market presence in Asia-specific countries and is strategizing to achieve the global markets of MENA & SEA Regions. Syntizen, with the acquisition, is looking to expand its services in the BFSI domain in India. M2P shall catalyze Syntizen’s plans of building Global Identity Solutions.
M2P Fintech, Asia’s largest API infrastructure company, announced that they had acquired Syntizen Technologies-a software-based company which offers instant, paperless, electronic, and authentic customer identification solutions for the private sector and citizen identification services for the governments. M2P Fintech provides API infrastructure which enables businesses of any scale to embed financial products. Presently, it is working with more than 500 fintech, banks, and other financial institutions.
Syntizen Technologies is a Hyderabad-based SAAS startup founded in 2014 by three young entrepreneurs, Siddharth Kukatlapalli, Vamsi Kotte, and Dinesh Desu, and is a T-Hub incubated startup. With Digital Identity being their forte, Syntizen offers services around the Aadhaar eco-system & AI/ML algorithms. Syntizen offers products like Aadhaar e-KYC, Video KYC, Aadhaar Masking, etc., like Facial Liveness & Facial Matching.
Mr. Madhusudanan R, Co-Founder and CEO of M2P Fintech commented, “We believe technology as the great leveler and technology-led solutions can act as a tool to permeate financial inclusion. We are certain that the work the Synitzen team has done over the years around Aadhaar enabled services and the KYC platform presents a perfect opportunity to overlay the Syntizen stack on top of our infrastructure to deliver innovative solutions. We are excited with the prospect of Inclusive Innovation that can be delivered not just for financial institutions in India but for the world.”
The acquisition will not bring any major changes to Syntizen’s Leadership or the current projects we are operating. Mr. Dinesh Desu, Chief Product Officer, said, “We have much advanced Digital Identity tech which helps to enable seamless customer identification. We constantly focus on acting as a trust layer for enabling digital services to end customers in a remote way”.
“We have a decent market share of Digital Identity business in India; with this acquisition, we will go multifold and launch our solutions in all the countries where M2P has a footprint. Deep integration of our services in the BFSI sector is one more focused area,” said Mr. Siddharth Kukatlapalli, CBO at Syntizen.
“While M2P Fintech is driving BFSI towards a “Cashless” journey with Digital products Syntizen will add “Presence-less,” “Paperless” journey to their customer onboarding process. A perfect mix for a great customer experience in the Financial world. Looking forward to building a bigger and better business together,” said Mr. Vamsi Kotte, CEO of Syntizen Technologies.
M2P Fintech has already scaled its solution to six international markets and has plans to establish it across MENA & SEA countries.
About M2P: Founded in the year 2014 and headquartered in Chennai, M2P Fintech is Asia’s largest API infrastructure company offering a wide gamut of services that enable businesses of any scale to embed financial services. M2P Fintech is an Omni-channel platform that operates in over 20 markets across the Asia Pacific, MENA, and Oceania regions. M2P works with over 30 banks and has clocked over 600+ Fintech engagements across a varied set of industries
M2P Fintech is well-positioned with a secure and highly customizable tech stack that helps businesses launch their products with efficacy and speed at its core. On one end, M2P’s platform allows businesses to quickly create and deploy customized fintech products by customizing all relevant workflows through their plug-and-play solutions. On the other end, M2P simplifies the ability of banks and licensed and regulated entities to support these products at the back-end by facilitating technology integration as well as settlement and operational support.
About Syntizen: Founded in 2014, Syntizen is registered with Start-up India, incubated at Telangana’s T-Hub, India’s biggest Government-backed Startup incubator, a member of India Stack, and a NASSCOM Emerge 50 Startup. Syntizen works with about 30 BFSI companies and 5 State Governments. Currently, Syntizen has completed about 2 Billion transactions for all its clients across all their products.
This article was shared with Prittle Prattle News as a Press Release.
