Panamax expands global reach with Acute Informatics acquisition
Digital financial solutions provider Panamax has acquired Acute Informatics, an enterprise digital core banking solution provider and IT consultancy firm.
The acquisition of India-based Acute for an undisclosed sum is set to boost Panamax’s global digital finance and core banking offering.
Panamax CEO and president Bankim Brahmbhatt says the Acute Informatics acquisition is a “strategic move to expand our horizons and offer core banking solution in the international space”.
Acute Informatics CEO Chirag Patel says the merger will help the firm expand its global footprint and scale the business.
Panamax says the acquisition is “vital to getting the right teams together” and to offer enhanced digital finance solutions to millions of users globally.
Panamax has invested in a “state-of-the-art” office to build a digital core banking Centre-of-Excellence (CoE) for more than 500 employees of Acute Informatics and cater to the needs of more than 120 global customers.
Panamax’s MobiFin Elite is a scalable and straightforward digital financial solution that combines mobile banking, agency banking, digital wallets and bill payment solutions.
The firm’s banking suite helps banks and financial institutions offer “contemporary” banking services and online banking and helps firms cuts down on infrastructure costs.