AiBANK and Visa Join Forces to Drive Financial Inclusion in Egypt

Deal
The new contract between the Central Bank and Grant Thornton
The Central Bank of Ireland has awarded a US$ 3.2 Mn contract to Grant Thornton as an external auditor from 2023 to 2027, with the option for two additional years. Read More>>

Partnerships
Alkami and Atomic collaborate for seamless direct deposit connectivity
Alkami has partnered with Atomic to offer a direct deposit switching solution for financial institutions. This collaboration will simplify the direct deposit process and reduce costs. Read More>>
World Bank & IDB to collaborate on Disaster Risk Financing, Catastrophe Bonds
The World Bank and the Inter-American Development Bank have partnered to enhance disaster risk financing in the Caribbean region, including the use of catastrophe bonds. Read More>>
AiBANK partners with Visa to promote financial inclusion in Egypt
AiBANK has entered a long-term partnership with Visa to offer integrated e-payment solutions in Egypt. This collaboration supports financial inclusivity and digital adoption. Read More>>

Centre Setup and Expansion
AFREXIMBANK to establish headquarters in New Administrative Capital
The African Export-Import Bank is set to build its headquarters in Egypt’s New Administrative Capital, including a trade center, hotel, conference and exhibition halls, valued at US$ 32 Mn. Read More>>
Financial specialist Alantra opens office in DIFC
Alantra has established a new office in the Dubai International Financial Centre to access trade and investment opportunities in real estate, healthcare, and maritime sectors. Read More>>

Mergers and Acquisitions
Tradeweb acquires Yieldbroker
This acquisition allows Tradeweb to integrate Yieldbroker’s expertise into its global network, expanding its presence in the Australian and New Zealand markets. Read More>>
Guild Mortgage acquires First Centennial Mortgage
This acquisition adds approximately 15 branches and 9 satellite offices across 17 states to Guild’s national retail network, expanding its market share in the residential mortgage lending sector. Read More>>

Executive Movements
First National Bank Bemidji welcomes new VP
Amy Haskell has a long history with the bank, starting as a Credit Analyst/Investments in 2007 and progressing through various roles, including Credit Manager and Chief Risk Officer. Read More>>
Associated Banc-Corp appoints Jayne C. Hladio as President of Private Wealth
Jayne C. Hladio will oversee wealth management and digital banking strategies, coming with over 25 years of market expertise in the banking industry. Read More>>

Layoff
CoinSwitch announces layoffs amid market slumps
CoinSwitch is reducing its workforce by 8% due to challenges in the market. The layoff primarily affected customer support teams, with 44 employees resigning voluntarily. Read More>>
Credit Suisse to lay off thousands amid UBS merger
Credit Suisse’s merger with UBS is set to result in 3,000 layoffs, primarily in Zurich, as the bank seeks stability. The layoffs will occur gradually, starting in 2024. Read More>>

Fundraise and Investment
Punjab & Sind Bank looks to raise US$ 30 Mn via QIP in Q3
The bank aims to increase its branches to 2,000 and ATMs in the country over the next three years, facilitating low-cost deposits and expanding its loan product penetration. Read More>>

• Moody’s strengthens its presence in Africa and Latin America, leveraging local market insights and advanced analytical capabilities for high-growth credit assessments and capital markets growth. 
• Moody’s fortifies its global presence with expanded compliance through European market strength, emerging as a premier provider of audit-proof business verification and KYC technology. 
• Moody’s leverages data and analytics from diverse sources, such as financial statements, market data, and economic indicators, employing sophisticated analytical models through data mining techniques to enhance the accuracy of ratings and risk assessments while also identifying patterns with opportunities for creditworthiness assessment and business growth. 
• Service providers with rich expertise in the above would find a better opportunity to serve Moody’s Corporation. 
• Moody’s Corporation is keen on empowering small businesses and ecosystem restoration in emerging markets to submit proposals to Moody’s Foundation, which seeks nonprofit partners dedicated to promoting community impact. 
• Moody’s Corporation creates advanced risk solutions and collaboration tools with Generative AI, empowering financial services and global knowledge workers, enabling comprehensive corporate intelligence and risk assessment for increased productivity and insights.

Startup Spotlight

Here’s what’s new on our Sales Intelligence Platform
Introducing personalized Braindesk landing page

• Experience the new personalized BrainDesk landing page
• Now you can easily filter courses in Reskilling based on difficulty levels to prepare a personalized learning plan
• Introducing a breakdown of IT spending by category, along with a forecast in Financials, enabling you to understand target account expenditure