21st, July, 2022: M2P Fintech, Asia’s largest API infrastructure company announced that they have 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 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 BFSI sector is one more focused area” said Mr. Siddharth Kukatlapalli, CBO at Syntizen.
“While M2P Fintech 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 Financial world. Looking forward to build 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.
