Finacus
Finacus is a Mumbai-based, bootstrapped banking technology company founded in 2007 that builds a 16-product platform covering core banking, payment switching, digital KYC, fraud management, and conversational banking, serving 200+ Indian banks and financial institutions via Licensed and SaaS models.
- Company typePrivate
- Founded2007
- HeadquartersMumbai, India
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Finacus does
Finacus Solutions Private Limited is an India-based, founder-owned banking technology company founded in 2007 and headquartered in Mumbai. It builds and sells a 16-product platform that covers core banking (FinCORE), payment switching (FinCONNECT for ATM/POS/ECOM, UPI Payment Switch, AePS, IMPS, Bharat BillPay), digital identity (eKYC, Video KYC, Data Vault), financial data exchange (Account Aggregator TSP), customer engagement (Banking Chatbot on WhatsApp), and fraud risk management. The platform supports both on-premise Licensed Model deployments and cloud-based SaaS Model subscriptions, and integrates with national payment infrastructure including NPCI rails (RuPay, NFS, UPI, IMPS, BBPS, AEPS, eKYC), UIDAI, and the Sahamati Account Aggregator ecosystem.
The firm serves Indian cooperative banks, small finance banks, regional rural banks, NBFCs, and payment aggregators; named customers include Saraswat Bank, TJSB, Ujjivan Small Finance Bank, Andhra Gramin Bank, Shivalik Bank, Utkarsh Small Finance Bank, Ebix Cash, PayPoint, and Vakrangee. The customer base exceeds 200 banks, and Finacus reports powering 65% of ATM transactions in the Urban Cooperative banking sector (2020) and 1,800+ ATMs (2018) via FinCONNECT. Revenue is generated through a mix of software licensing (one-time/perpetual and multi-year), SaaS subscriptions (annual), and transaction processing fees across payment switches.
Go-to-market is direct enterprise sales with a structured team of Solution Architects, Business Development Managers, and Presales personnel engaging cooperative and small finance bank decision-makers. Finacus holds a dense set of regulatory credentials (NPCI Certified Partner, UIDAI compliance, Sahamati Certified TSP, RBI Authorized Payment Aggregator) and ISO certifications (9001, 22301, 27001, 27701) plus PCI DSS via SISA. The company is bootstrapped with no disclosed funding rounds, and its leadership includes CEO Bhushan Kondurkar and Director Rahul Dwivedi.
Finacus firmographics
Firmographics- Name
- Finacus
- Legal name
- Finacus Solutions Private Limited
- Website
- https://finacus.co.in
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Finacus is a Mumbai-based, bootstrapped banking technology company founded in 2007 that builds a 16-product platform covering core banking, payment switching, digital KYC, fraud management, and conversational banking, serving 200+ Indian banks and financial institutions via Licensed and SaaS models.
- Ownership category
- akta.pro rank
Where Finacus is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Finacus business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- SaaS/Subscription Model: Cloud-based deployment of banking solutions on subscription basis, providing flexible access to Finacus platforms without upfront infrastructure investment. Solutions available as SaaS Model alongside Licensed Model.
- Software Licensing: On-premise licensing of banking solutions including Core Banking (FinCore), Payment Switches, and other platforms. Licensed Model provides perpetual or term-based software deployment.
- Transaction Processing Fees: Revenue from processing transactions through payment switches, UPI, AEPS, BBPS, and other payment rails. Volume-based transaction fees from banks and financial institutions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | Licensed Model - On-premise deployment with perpetual or term licensing |
| Subscription | Annual | SaaS Model - Cloud-based subscription deployment |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Finacus product offering
Product offeringCore offering
Finacus provides a comprehensive suite of banking technology software platforms for banks and financial institutions in India. Its offerings include core banking systems (FinCORE), payment switches (FinCONNECT, UPI, AePS, BBPS), digital onboarding (eKYC, Video KYC), fraud risk management, payment aggregation, account aggregator services, mobile and internet banking, and agent banking solutions. Platforms are delivered via Licensed (on-premise) or SaaS (cloud subscription) deployment models, serving 200+ banks including cooperative banks, small finance banks, NBFCs, and regional rural banks.
Product overview
Finacus is a fintech company founded in 2007 offering a comprehensive suite of digital banking solutions for banks and financial institutions in India. The product portfolio operates as a platform-plus-modules architecture comprising 16 distinct products covering payment switching (UPI Payment Switch, AePS Switching Solution, Financial Transaction Switch/FinCONNECT, Bharat BillPay Solution), banking systems (Core Banking Solution/FinCORE, Internet Banking Solution/FinINET, Mobile Banking/FinMOBICONNECT), identity verification (eKYC Solution, Video KYC Solution, Data Vault Solution), financial services (Payment Aggregator, Wallet Platform, Account Aggregator TSP), customer engagement (Banking Chatbot), fraud prevention (Fraud Risk Management Solution), and distribution (Agent Banking Solution). Solutions are available through Licensed Model or SaaS Model deployment options.
Differentiator
Problem solved
Functional benefit
Brands
- FinCORE: Core Banking Solution - A central database for managing key banking operations across branches, designed to redefine banking operations with unmatched efficiency, security, and customer satisfaction.
- FinCONNECT
- FinMOBICONNECT
- FinBBPS
- FinUPI
Products and services
- UPI Payment Switch A robust platform enabling seamless, secure, and efficient UPI transaction processing for banks and financial institutions. Supports PSP and Issuer modules, mandate management, QR payments, UPI Lite, ICCW, ICD, and global remittance.
- AePS Switching Solution Aadhaar Enabled Payment System solution enabling accessible and secure banking through biometric verification. Supports cash withdrawal/deposit, balance enquiry, mini statement, and fund transfers via Aadhaar-linked accounts.
- Payment Aggregator RBI-authorized payment platform-as-a-service unifying diverse payment ecosystems for seamless gateway aggregation. Offers effortless online acceptance, rapid transaction processing, diverse payment options, merchant control panel, and dispute management.
- Account Aggregator TSP Sahamati-certified Technology Service Provider enabling consent-based exchange of financial data between Financial Information Users (FIU) and Financial Information Providers (FIP) through secure API integration.
- Financial Transaction Switch (FinCONNECT) Robust authorization and switching platform for ATM, POS, and ECOM transactions. Provides multi-channel coverage, card lifecycle control, scheme interoperability (RuPay, Visa, MasterCard), and contactless/NCMC support.
- Agent Banking Solution Solution enabling banks to extend services to underbanked and remote areas through agent networks. Features wide network support, real-time monitoring, advanced encryption, and streamlined agent onboarding.
- Core Banking Solution (FinCORE) Central database solution for managing key banking operations across branches. Offers scalable performance, compliance management, customer-centric views, insightful reports, and flexible deployment (on-premise, cloud, or hybrid).
- Wallet Platform Unified digital wallet solution for customers, agents, and merchants enabling instant, secure transactions with peer-to-peer transfers, agent transactions, and merchant payments via QR codes.
- Fraud Risk Management Solution Real-time fraud detection and prevention solution for digital banking. Features AI/ML-driven anomaly detection, configurable rule engine, unified case management, and comprehensive analytics for UPI, IMPS, NEFT, Cards, and mobile banking.
- eKYC Solution Aadhaar-compliant customer verification solution for fast, secure, and compliant digital onboarding. Provides instant verification, OTP validation, Aadhaar data fetch, and eliminates document forgery through paperless processing.
- Mobile Banking + IMPS Switching Solution (FinMOBICONNECT) Mobile banking platform powered by IMPS for instant money transfers. Offers bank-level security, immediate transfers, bill payments, bulk IMPS payments, and seamless integration with core banking solutions.
- Video KYC Solution AI-powered electronic customer onboarding solution with live video interaction, face-to-face verification, AI-powered document validation, geo-tagging, customizable workflows, and audit trails for compliance.
- Internet Banking Solution (FinINET) 24/7 online banking platform with user-friendly interface, mobile responsiveness, bank-level security, financial analytics, and scalability for retail, corporate, and wealth banking.
- Banking Chatbot WhatsApp-based banking chatbot leveraging NLP for customer interaction. Provides account information, loan inquiries, customer onboarding, FAQs, and transaction support.
- Bharat BillPay Solution One-stop platform for bill payments enabling financial institutions to function as operational units in Bharat Bill Pay. Supports multi-utility bills, mobile/DTH recharge, tax payments, and multi-channel access.
- Data Vault Solution UIDAI-compliant Aadhaar vault for secure, encrypted storage and controlled access. Features end-to-end encryption, tokenization, access control, and monitoring/auditing capabilities.
Quantifiable outcome
- 65% of ATM transactions in Urban Co-operative banking sector powered by FinConnect
- +3 more outcomes
Companies that use Finacus
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles3 records
Finacus technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
AI capability8 records
Feature8 records
Finacus partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered minor, notable and core.
- NASSCOMminorMember of NASSCOM since 2022, India's premier IT industry association for technology and software services companies.
- Internet & Mobile Association of India (IAMAI)minorMember of IAMAI since 2021, supporting digital and mobile internet ecosystem growth in India.
- Microsoft AzurenotableFinCore was the first in APAC and second globally to port a core banking solution to Microsoft Azure Cloud, demonstrating early cloud technology adoption.
- National Payments Corporation of India (NPCI)coreNPCI Certified Partner for RuPay, NFS, UPI, IMPS, BBPS, AEPS, and eKYC payment rails. Enables Finacus to provide certified payment switching and processing solutions to banks.
- Unique Identification Authority of India (UIDAI)coreCompliant to UIDAI Standards for Aadhaar-based authentication and eKYC services. Enables Aadhaar-backed identity verification and biometric authentication.
- SahamaticoreSahamati Certified Technology Service Provider for the Account Aggregator ecosystem. Enables consent-based financial data exchange between financial institutions.
- Reserve Bank of India (RBI)coreRBI Authorised Payment Aggregator enabling compliant payment processing and aggregation services for merchants and banks.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Finacus competitors and assessment
Company assessmentBroad incumbents
- Infosys Finacle: Infosys Finacle is an established core banking and digital banking suite used by large Indian and global banks. It is a broad incumbent competitor to Finacus's FinCore and mobile/internet banking products across the same target customer base.
- Temenos: Temenos is a leading global core banking and digital banking platform serving banks across regions. It is a broad incumbent competing with Finacus for mid-sized and cooperative bank deals, particularly where Indian banks expand internationally.
- Mphasis: Mphasis offers banking and financial services technology and services including core banking modernisation and payments. It is a broad incumbent competitor with deeper capital base and wider global delivery capability than Finacus.
- Yodlee (Envestnet): Yodlee is a global financial data aggregation and account verification platform. As an established open-banking infrastructure player, it is comparable to Finacus's Account Aggregator TSP offering for cross-border banks needing data connectivity.
- TCS (TCS BaNCS): TCS BaNCS is a global banking platform offering core banking, payments, and regulatory solutions to large banks. As a broad incumbent, it competes with Finacus in the Indian cooperative and SFB segments while also serving Tier 1 banks globally with a much larger delivery footprint.
- Oracle Financial Services Software (FLEXCUBE): Oracle FLEXCUBE is a leading core banking platform deployed across banks globally, including in India. It directly competes with FinCore and adjacent Finacus modules, with broader scale and a global R&D base.
Direct peers
- Newgen Software: Newgen Software provides digital banking, BPM, and content management solutions to banks and financial institutions, including in India. It overlaps with Finacus across digital onboarding, lending workflows, and banking process automation.
- IDfy: IDfy is an India-based identity verification and fraud prevention platform offering Video KYC, eKYC, and onboarding workflows. It directly competes with Finacus's eKYC, Video KYC, and Fraud Risk Management modules in the same BFSI customer base.
- Intellect Design Arena: Intellect Design Arena is an India-headquartered banking technology vendor offering core banking, lending, and digital channels. It is one of the closest direct peers to Finacus in product breadth and Indian customer base, competing for the same SFB and cooperative bank mandates.
- Finvu (by FinSec Technologies): Finvu is an India-based Account Aggregator TSP operating within the Sahamati ecosystem. It directly competes with Finacus's Account Aggregator TSP product for FIU/FIP integrations and consent-based financial data exchange mandates.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Finacus social profiles
Digital presenceFinacus compliance and trust
Trust signalCompliance10 records
Finacus financial estimates
Financial estimateRevenue estimate
Valuation estimate
Finacus leadership team
Management profileNumber of profiles
Profiles3 records
Finacus funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Finacus M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Finacus
What does Finacus do?
Finacus provides a comprehensive suite of banking technology software platforms for banks and financial institutions in India. Its offerings include core banking systems (FinCORE), payment switches (FinCONNECT, UPI, AePS, BBPS), digital onboarding (eKYC, Video KYC), fraud risk management, payment aggregation, account aggregator services, mobile and internet banking, and agent banking solutions. Platforms are delivered via Licensed (on-premise) or SaaS (cloud subscription) deployment models, serving 200+ banks including cooperative banks, small finance banks, NBFCs, and regional rural banks.
Is Finacus a public or private company?
Finacus is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Finacus founded?
Finacus was founded in 2007. It employs 101 to 250 people.
Where is Finacus based?
Finacus is headquartered in Mumbai, India, in the Asia region.
How does Finacus make money?
Three revenue lines are on record. SaaS/Subscription Model is the primary driver. The others are software Licensing and transaction Processing Fees.
Who are Finacus's main competitors?
Broad incumbents on record are Infosys Finacle, Temenos, Mphasis, Yodlee (Envestnet), TCS (TCS BaNCS) and Oracle Financial Services Software (FLEXCUBE). Direct peers are Newgen Software, IDfy, Intellect Design Arena and Finvu (by FinSec Technologies).
Does Finacus have an API?
Yes. Finacus provides APIs and SDKs for integration across its product suite. The Account Aggregator TSP product explicitly mentions 'APIs & SDKs Integration available' for connecting Financial Information Users (FIU) and Financial Information Providers (FIP). The UPI Payment Switch includes 'Merchant Integration APIs' for Collect Requests and Intent Requests. The Payment Aggregator offers APIs for dispute management, refunds, and settlements. The Fraud Risk Management Solution provides 'APIs to connect with CBS, Payment Systems & Channels'. Multiple products support seamless integration to existing financial systems via APIs. Developer documentation is at www.finacus.co.in.