UST Strengthens Financial Services with Modus Information Systems Acquisition

UST, a prominent player in AI and technology transformation solutions, has taken a significant step by acquiring Modus Information Systems Private Limited. This strategic acquisition, announced on October 9, 2025, is designed to bolster UST's standing in the financial sector, particularly focusing on core banking services.

Modus, headquartered in Bengaluru, India, has established itself as a key player in core banking implementation. The company serves various banks not only within India but also across the Global South, which includes emerging economies experiencing rapid technological advancement. As banks in these regions pursue digital transformation and modernization with increasing urgency, UST's acquisition of Modus positions the company to cater to the growing demand for agile and scalable banking solutions.

The importance of this acquisition cannot be overstated. UST aims to strengthen its leadership in a market that is evolving swiftly due to the demands of digital transformation. Additionally, this move aligns with UST's operational strategies in Banking-as-a-Service (BaaS) through its offering, BanktrUST, which aims to integrate banking services smoothly in the digital landscape.

With a workforce of around 340 skilled professionals, Modus brings a wealth of knowledge and experience in core banking solutions. Since its inception in 2003, Modus has built a reputation for success and innovation, forming lasting partnerships with industry leaders like Finacle. This proven ability, combined with UST's expertise in AI and platform engineering, places the newly formed entity in a formidable position to provide comprehensive banking services that meet contemporary challenges and opportunities within the industry.

KL Mohan Kumar, Chief Executive Officer of Modus, expressed enthusiasm about the acquisition, stating, "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. Together, we will deliver greater innovation, agility, and measurable business outcomes." With this union, Modus can amplify its service offerings in critical areas such as application services, cybersecurity, platform services, and system integration, thus enhancing its ability to meet clients' needs at scale.

Kaushal Tripathi, Chief Growth Officer of UST, commented on the acquisition's significance within the context of the Global South's economic landscape. He noted that banks in these regions are expanding in both size and number, driven by financial inclusion efforts and the presence of a large unbanked population. This growth will likely sustain demand for modern banking technologies, particularly as regulatory frameworks evolve and user expectations rise. He believes that Modus' expertise enables UST to meet increasing demand while maintaining high standards for customer experience and regulatory compliance.

This acquisition reaffirms UST's commitment to driving forward innovation and operational excellence in the financial services industry. Services and expertise from Modus will integrate into UST's global financial services practice, further enhancing UST's capability to assist financial institutions in navigating their modernization journeys without compromising on quality or regulatory necessities.

While the financial details of the acquisition remain undisclosed, UST's vision is clear: to redefine modernization in banking, fostering faster innovation, deeper financial inclusion, and more resilient digital ecosystems. The pathway ahead for both UST and Modus is laden with potential, with shared goals focused on creating lasting impact across global financial landscapes.

As UST continues its partnership with clients across various sectors, the acquisition of Modus symbolizes a strategic leap toward offering more robust and future-proof banking solutions that resonate with the digital-first mindset of emerging markets.