Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services and solutions, announced the acquisition of Avant Techno Solutions (Alluri Technologies Inc), a Canada based firm specializing in payments modernization and wealth platforms. The acquisition is expected to further strengthen Tech Mahindra’s service capabilities and deepen its industry expertise within the BFSI (Banking, Financial Services, and Insurance) vertical.
The addition of Avant will enhance Tech Mahindra’s offerings across key areas including Real Time Rail capabilities, ISO 20022 migration, wire modernization, core payments cloud transformation, wealth management platforms, identify and access management solutions across North Americas, while creating new opportunities in open banking, commercial lending, regulatory compliance, and fraud and financial crime. The strategic alignment also brings experienced sector talent and established client relationships, enabling faster and more scalable delivery across key markets.
Roshan Shetty, BFSI and Public Sector Head - Americas, Tech Mahindra, said, “The acquisition of Avant will strengthen our ability to serve financial institutions at a time when the sector is balancing growth with rapid digital change. By combining deep domain expertise with scaled technology delivery, we will help clients modernize core payment & wealth systems, improve customer engagement and respond faster to evolving market and regulatory demands.”
As financial institutions navigate evolving consumer behaviour and rapid technological change, this acquisition positions Tech Mahindra to support organizations in simplifying legacy environments, improving speed to market, strengthening trust frameworks, and building more responsive and resilient operating models.
Srinivasa Varma Alluri, CEO, Avant Techno Solutions, said, “Joining Tech Mahindra marks an exciting next phase for Avant. With our deep expertise in payments and wealth platforms combined with Tech Mahindra’s global scale and delivery capabilities, we look forward to helping financial institutions accelerate modernization and deliver more secure, data driven customer experiences.”
Founded in 2017, Avant brings deep expertise across payments and wealth management platforms, along with emerging AI led capabilities focused on delivering tangible business value. The acquisition comes at a time when financial institutions are accelerating investments in automation, cloud platforms, data intelligence, and secure customer experiences. Clients are expected to benefit from enhanced domain expertise, expanded delivery scale, and targeted solutions aligned to sector specific requirements.
