UST, a global leader in AI and digital transformation solutions, has announced the acquisition of Modus Information Systems Private Limited, a Bengaluru-based company specializing in core banking implementation. The move marks a significant step in UST’s strategy to strengthen its position within the financial services industry and expand its footprint across the rapidly evolving markets of the Global South.
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As banks across emerging economies accelerate their digital transformation journeys, this acquisition positions UST to meet growing demand for scalable and future-ready banking solutions. Modus, with its long-standing reputation as a trusted partner for several banks across India and beyond, brings a wealth of expertise in core banking technology, system integration, and platform implementation.
Founded in 2003, Modus has built a strong track record of delivering robust solutions and maintaining trusted partnerships, including its status as a Finacle Value Partner. Its team of more than 340 skilled professionals has been instrumental in helping financial institutions modernize operations and embrace innovation. By combining this deep domain expertise with UST’s strengths in AI, platform engineering, and digital solutions, the company aims to deliver even greater value to banking clients globally.
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KL Mohan Kumar, CEO of Modus, described the merger as a defining moment for the company’s growth. “Joining forces with UST enables us to expand our capabilities and bring a broader, more powerful suite of services to our customers. Together, we’ll be able to deliver greater innovation, agility, and measurable business outcomes—particularly in areas such as cybersecurity, application services, and domain-centric technology solutions,” he said.
Echoing this sentiment, Kaushal Tripathi, Chief Growth Officer at UST, emphasized the significance of this move in addressing the rapid economic and technological growth across the Global South. “Banks in these markets are growing in scale and sophistication. Increasing financial inclusion, evolving customer expectations, and maturing telecom infrastructure make this the perfect time for core modernization. The acquisition of Modus enables UST to deliver the next generation of banking solutions enhancing innovation, inclusion, and resilience in emerging economies,” he noted.
This acquisition not only strengthens UST’s financial services practice but also aligns with its BanktrUST Banking-as-a-Service offering, reinforcing its commitment to helping banks modernize their operations and deliver enhanced customer experiences. From its base in Bengaluru, the Modus team will now operate as part of UST’s global financial services network, further expanding the company’s reach and impact across key growth markets.
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While the financial details of the acquisition remain undisclosed, the strategic value is clear: UST and Modus together are poised to redefine how banks in emerging markets approach digital transformation, setting new standards for innovation, operational excellence, and financial inclusion.
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