Bengaluru: Techurate Systems Pvt Ltd, a Global Smart Banking technology company has acquired Techverve Systems Pvt Ltd., a company specializing in Core Banking solutions to Cooperative banks and Cooperative credit societies. Techverve through its flagship product Bankverve has created a strong legacy of over 350 financial institutions in Karnataka. Techurate through this acquisition now positions itself as a Truly Integrated Bank in the Box service providing a full suite of core & digital modules suitable for both greenfield and existing banks. Techverve will function as a 100% subsidiary of Techurate focusing on India Business.
The acquisition strengthens Techurate’s tech stack making It one of the few service providers with an Integrated Core and Digital banking platform under its flagship brand, Tigiverse. This legacy will be a strong leverage to expand in India and in global markets, addressing the financial inclusion challenges of institutions in a disruptive way.
Talking about this acquisition, Harshaverdhan Pusala, CEO & MD of Techurate said “We are thrilled with this acquisition of Techverve. This will now enable us offer a viable Lite Core Banking solution to the vast plethora of Tier 2 and Tier 3 banks in India and the worldwide. We can now offer solution both on a ON-PREM and SaaS model. The strong legacy of our core banking platform gives us confidence and courage to surge ahead with speed”
This makes Techurate of the few Fintech providers capable of servicing the full spectrum of core and digital banking both on Local On-Prem and the cloud delivery models.
Techurate aspires to be a dominant player in the growing cooperative banking sector in India. Armed with a very versatile, innovative Digital platform under Tigiverse and a very cost effective, comprehensive core banking solution in its arsenal, Techurate is confident of servicing more small / medium sized banks accelerating its financial inclusion footprint. The acquisition gives access to over 250 small cooperative and credit societies in Karnataka, bringing in a strong performance track record and legacy. Techurate aggressively pushes ahead with its Aggregation service delivery model for the Indian Cooperative Banking sector drawing from its experience in some key African Markets, its traditional strength.
Expressing optimism, Mr. Padma Prasada, Executive Director, Techverve said “Techurate has been a strong alliance Partner for years. Happy to see this association help us take the solution deeper into India and the world markets”