Panamax, a Garden City, New York-based Fintech solutions developer, acquired Acute Informatics, an Ahmedabad, India enterprise Digital Core Banking solution and IT Consulting company.
The amount of the deal was not disclosed.
With the acquisition, Panamax will empower its digital finance solutions and offer digital core banking solutions globally. Panamax has invested in a state-of-the-art office to build a Digital Core Banking Centre-of-Excellence (CoE) for 500+ employees of Acute Informatics and cater to the needs of 120+ global customers.
Led by Chirag Patel, CEO, Acute Informatics is a digital core banking, fintech, project mentoring & IT consulting company with multi-shore delivery capabilities, delivering value to clients worldwide using a global delivery model for digital banking, cloud computing, fintech, micro-finance, financial inclusion, systems integration, database administration, system administration, implementation, testing and support.
Led by Bankim Brahmbhatt, President & CEO, Panamax is a provider of Digital Financial Suite and Fintech Solutions. Its MobiFin Elite combines Mobile Banking, Agency Banking, Wallet, Top-up, and Bill Payment Solutions into one interface to offer scalability and ease of operation. The Banking Suite provides a holistic digital banking experience with innovative features for operational efficiencies. It helps banks and financial institutions offer contemporary banking services, facilitate online banking, and decrease infrastructural expenses.
FinSMEs
21/02/2023