UST has acquired Tailwind Business Ventures, a US-based fintech, to strengthen its position in the sector while expanding into South Africa.
Tailwind was founded in 2003 with offices in the US and Brazil, slowly expanding its services in Sri Lanka and Portugal through the years. The company brings forth its expertise in the banking and financial services industry, and the acquisition aims to improve UST’s presence in the market.
Improving banking solutions and focusing on expansion
Digital banking solutions are increasingly expanding, demanding implementation and service growth. With the acquisition, UST aims to increase its share of digital banking products implementation and support services for banks and credit unions. The company also plans to strengthen its Software as a Relationship approach while contributing to focus on long-term client partnerships.
Tailwind currently delivers a series of technological solutions to numerous financial institutions around the world. Its offerings include AI-based digital banking solutions implementation, legacy system modernisation, and product customisation. The company also provides product and project management services, helping clients through every stage of their technology process.
UST expressed positive sentiments regarding welcoming Tailwind to its team, saying that Tailwind’s core banking expertise, together with UST’s experience in AI, modernisation, and enterprise transformation, offers the company the opportunity to scale and solve industry challenges.
Together, the companies offer personalisation, integrated systems architecture, and security in a platform that improves customer experience and rebuilds trust across the banking system. UST is now better positioned to contribute to the emerging and high-growth markets, including LATAM, APAC, and Africa, where mid-market and large regional banks seek partners that support their demands and needs.
Additionally, deepening its presence in North America with a modern platform will help banks compete and develop faster. The initiative of acquiring Tailwind will also strengthen UST’s banking and financial services solutions, leveraging the company’s expertise in core banking to support FIs in offering better customer experiences. The company’s partnerships with providers like Temenos and Q2 further reflect the value it delivers.
