Tech Mahindra, a global digital transformation and consulting firm, has acquired Avant Techno Solutions (also known as Alluri Technologies), a Canada-based specialist in payments modernisation and wealth platforms.
The deal will broaden Tech Mahindra’s offering across a range of areas, including Real Time Rail capabilities, ISO 20022 migration, wire modernisation, core payments cloud transformation, and wealth management platforms. It will also add identity and access management solutions across North America, whilst opening up potential in open banking, commercial lending, regulatory compliance, and fraud and financial crime prevention.
Alongside these capabilities, the acquisition brings experienced industry talent and established client relationships intended to support faster and more scalable delivery.
Tech Mahindra said the deal positions it to help clients streamline outdated systems, strengthen trust frameworks, and build more adaptable operating models.
Founded in 2017, Avant has developed expertise spanning payments and wealth management platforms, as well as emerging AI-led capabilities aimed at generating measurable business outcomes. The acquisition arrives as institutions increasingly direct investment towards automation, cloud platforms, data intelligence, and secure customer experiences.
Tech Mahindra is a technology consulting and digital solutions provider serving global enterprises across more than 90 countries.
Tech Mahindra BFSI and public sector head – Americas Roshan Shetty said, “The acquisition of Avant will strengthen our ability to serve financial institutions at a time when the sector is balancing growth with rapid digital change. By combining deep domain expertise with scaled technology delivery, we will help clients modernize core payment & wealth systems, improve customer engagement and respond faster to evolving market and regulatory demands.”
Avant Techno Solutions CEO Srinivasa Varma Alluri said, “Joining Tech Mahindra marks an exciting next phase for Avant. With our deep expertise in payments and wealth platforms combined with Tech Mahindra’s global scale and delivery capabilities, we look forward to helping financial institutions accelerate modernization and deliver more secure, data‑driven customer experiences.”
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