Airtel, India Post Payments Bank launch WhatsApp Banking Services

Key Insights and Signals -Banking & Financial Services

EBL signs master forfaiting agreement with Abu Dhabi Commercial Bank
The agreement will facilitate international trade finance operations. This agreement will allow EBL to access a larger portfolio of trade finance transactions while also enabling ADCB to expand its market reach in Bangladesh. Read More>>
Maybank, Cambodia renews securities sector agreement
The agreement allows Maybank Cambodia to offer a full range of securities services, including underwriting, issuing, and trading. The move is expected to strengthen Maybank Cambodia’s position in the securities market. Read More>>
NdcTech, Bank ABC partner to drive digital transformation
The collaboration is expected to drive digital transformation in the banking sector in Bahrain and offers customers a more convenient and secure way to conduct financial transactions. Read More>>
Axis Bank enters co-lending pact with Shriram Housing Finance through Yubi
This partnership will enable both entities to provide loans to homebuyers at competitive rates. Under the agreement, Axis Bank will originate and underwrite the loans, while Shriram Housing Finance will co-lend along with the bank. Read More>>
Doha Bank, Bank Al Habib to support Electronic Fund Transfer
This partnership will enable customers to send money to Pakistan via Doha Bank’s online banking platform, offering a convenient and secure way to transfer funds. Both banks aim to enhance customer experience by offering efficient and cost-effective remittance services. Read More>>
Product Launch
Airtel, India Post Payments Bank launch WhatsApp Banking Services
The bank has launched WhatsApp banking services, offering customers a simple and secure way to access banking services. Customers can now check their account balance, view transactions, and make money transfers using WhatsApp. Read More>>
Liberty Bank launches Alkami’s Digital Banking platform
The platform offers a range of features, including mobile banking, online account opening, and personal financial management tools. It will allow Liberty Bank to better serve its customers in an increasingly digital world. Read More>>
Mergers and Acquisitions
Access Bank Zambia acquires Atlas Mara
The acquisition is in line with Access Bank’s strategy to expand its presence in Africa. Access Bank Zambia will assume all of African Banking Corporation Zambia’s liabilities. Read More>>
Centre Setup and Expansion
Republic Bank continues growth
Republic Bank has opened a new banking center in Bellevue, Kentucky, in the Greater Cincinnati area. The new center offers a full range of banking services, including checking and savings accounts, loans, and investment services. Read More>>
Executive Movements
Reserve Bank of India Picks Neeraj Nigam as Executive Director
Nigam has over 35 years of experience in the banking sector. He will be responsible for supervising the central bank’s various departments, including the banking regulation and supervision, currency management, and financial markets operations departments. Read More>>
KfW IPEX-Bank: Belgin Rudack takes over as CEO
Rudack has been with the bank for over 20 years. He will be responsible for driving the bank’s strategic development and positioning it for long-term success in a rapidly changing market. Read More>>
Moruf Oseni takes over as Wema Bank MD/CEO
Oseni has over 24 years of experience in the banking industry. He will lead the bank’s growth strategy and work towards achieving its vision of becoming Nigeria’s most innovative and customer-centric bank. Read More>>
Financial and Market Activity
Federal Bank shares Q4 business update; total deposits cross USD 25 Bn
Federal Bank has reported a 54% increase in net profit in Q3 FY23. The bank’s total deposits surpassed USD 25 Billion mark by the end of Q4 FY22-23, compared to USD 24.5 Billion at the end of Q3. The CASA deposits grew by 3.9% in the March quarter to USD 8.4 Billion, compared to USD 8 Billion in the same period last year. Read More>>
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Latest Industry Insights from Draup Braindesk

Top Banking Operation Trends

Contactless Payment

A secured payment method that allows users to purchase products or services using a debit, credit, smartcard, or another payment device by using radio frequency identification (RFID) technology and near-field communication (NFC).

Digital Payments
Banks and financial institutions leverage advanced technologies such as blockchain, biometric recognition, RFID, and virtual cards to transform payment systems for instant, secure, and cashless transactions.

Algorithmic Trading
A system of trading for executing orders using automated pre-programmed trading instructions to account for variables such as time, price, and volume, and this type of trading attempts to leverage the speed and computational resources.

Automated Fraud Detection
Banks combine risk-based authentication, identity proofing, and fraud detection that leverage AI/ML, big data, and predictive analytics to detect fraud across multiple channels involved in payment processing.

  • Neo Banks are virtual banks that run completely online instead of any operations in physical branches and offer the full experience of virtual banking through smartphone apps 
  • These banks are customer-centric and offer personalized services, which differentiates them from traditional banks and drives the market growth 
  • The global neo-banking market was valued at USD 66.82 billion in 2022. Free debit cards, instant payments, e-bill generation, and GST-compliant invoicing are the key drivers of market growth.

Key Funding Alert

Kotak Mahindra Bank arm raises USD 1.25 billion
Kotak Mahindra Bank has raised USD 1.25 billion for its second special situations fund, which will be deployed in equity, debt capital, and hybrid instruments across sectors. The overall targeted amount for the fund is USD 1.6 billion, and it will be domiciled in GIFT City. Read More>>

Start-up Spotlight 

Company – Candidly
Total Funding – USD 46.27 Mn
Candidly is an AI-driven student debt and savings optimization platform. It offers individuals and families through every step of the planning, borrowing, and repayment experience. Read More>>

Latest Reports Published in Draup

The Charles Schwab Corporation – Account Intelligence Report
Charles Schwab Corporation is developing financial services by providing cryptocurrencies and opening an online financial center to improve economic outcomes. Read More>>
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