The fall of Lehman Brothers in 2008 led to a ripple effect in global financial systems, making many companies across the globe, including India, jittery when dealing with treasury operations abroad.

For TM Manjunath, S Sethuraman, and a few others, who previously worked at Vijaya Bank, the collapse presented a unique opportunity in treasury—they set out to build digital solutions for treasury management that mitigate operational risks and improve business efficiency.

IBSFINtechbegan its journey in 2006 as a retirement plan for the former bankers. The enterprise treasury-tech company caters to the end-to-end digitisation of cash flow, treasury, risk, trade finance and supply chain finance functions. It currently serves over 380 entities globally, including Vedanta Group, GAIL, Wipro Enterprises, Mahindra & Mahindra, and HCL.

“The idea emerged during the subprime period, marked by global collapses in the banking and corporate sectors, as well as volatility in commodity and forex markets. There was a need for automation, especially in the corporate sector. And that’s how we decided to create a product to cater to the corporate sides of the treasury operations,” says Chandra Mohan Grover, MD and CEO, IBSFINtech.

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