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Bengaluru: UST, an AI and technology transformation solutions company, has acquired Modus Information Systems Private Limited (Modus) for an undisclosed sum. This move will strengthen UST’s position in the financial sector.
Based in Bengaluru, Modus is a core banking implementation partner that primarily serves several banks in India and emerging markets. As banks across the Global South accelerate digital transformation and core modernization, this acquisition positions UST to meet growing demand for scalable, future-ready banking solutions.
This acquisition further accelerates the company’s growth strategy by equipping it to serve emerging markets. Furthermore, the move aligns with UST’s Banking-as-a-Service utility offering, BanktrUST, and helps in building a robust global financial services practice, the company said in a statement.
Modus, with its team of approximately 340 skilled professionals, brings deep expertise in implementing and supporting industry-leading core banking solutions. With a history of success and innovation dating back to 2003, and a Finacle Value Partner, the company’s established partnerships and its ability to collaborate with leading platform companies will significantly enhance UST’s ability to deliver comprehensive banking services.
By combining UST’s AI and platform engineering strengths with Modus’s deep domain expertise, the company will deliver differentiated value to banking clients worldwide.
“This is a defining moment for Modus. Joining forces with UST enables us to expand our capabilities and bring a broader, more powerful suite of services to our customers. By becoming part of the UST family, Modus will significantly enhance its ability to deliver end-to-end solutions at greater scale, speed, and depth—particularly in key areas such as application services, domain-centric technology solutions, infosec and cybersecurity, platform and hosting services, and system integration,” said KL Mohan Kumar, Chief Executive Officer, Modus.
Modus’ services and expertise will be offered from Bengaluru as part of UST’s global financial services practice.