ArtMeta partners with VP Bank to tokenize its art collections and showcase them in its meta-universe

Key Insights and Signals in Banking & Financial Services

Center Setup and Expansion
Construction of the new National Bank of Kuwait headquarters complete 
Foster + Partners has finalized the construction of the bank headquarters. The 300-meter skyscraper with a distinctive presence is among the buildings of Sharq, Kuwait City’s expanding financial district. The new tower fosters employee synergy and improved wellbeing by gathering all the bank’s corporate employees under one roof. Read More>>
Equitas Small Finance Bank opens its first branch in Trivandrum 
The bank has expanded its branches and business into Kerala. Equitas will offer its total product range, including all savings, investments, lockers, NRI Banking, and loans. The bank has planned to expand to four more districts – Palakkad, Kozhikode, Ernakulam, and Thrissur – to strengthen its presence across Kerala in the coming days. Read More>>
Foster + Partners unveiled the newly completed national bank of Kuwait headquarters 
Foster + Partners has completed the new headquarters for the National Bank of Kuwait. Located on a prominent site in Kuwait City, the 300-meter skyscraper has a distinctive presence among the buildings of Sharq, the city’s growing financial district. Read More>>
Verdant Commercial Capital signs private label program agreement with Synovus Bank 
The company has signed an agreement with Synovus Bank to provide a new equipment finance offering – Synovus Equipment Leasing – for Synovus Bank commercial customers. The offering, leasing, and equipment finance agreements for the essential use equipment can range from USD 25,000 to USD 50 Mn. Read More>>
City Bank signs agreement with IFAD Group 
The bank has signed an agreement with IFAD Group for the employee banking facility. The signing ceremony was held recently at the IFAD Tower Tejgaon. The higher management of IFAD group will also avail Citygem Priority banking facilities under this agreement. Read More>>
Mastercard to partner with Bank Alfalah 
The company strategically partnered with Bank Alfalah, which will see the bank’s online payment gateway infrastructure accept a wider array of cards, including the ability to make China Union Pay online pay­ments in the market for the first time. Read More>>
ArtMeta partners With VP Bank to bring fine art to the metaverse 
The company has partnered with an international banking group, VP Bank, one of Liechtenstein’s largest banks. The partnership with VP Bank will extend their service offerings, such as digitizing high-value art collections and displaying those within the ArtMeta metaverse. Read More>>
Northwest Federal Credit Union and DATA formalize partnership 
The two companies formalized their partnership, making members of the DATA Community immediately eligible for NWFCU’s long list of member-owner financial services. New members will join a 250,000-plus member-owned base of the award-winning credit union. Read More>>
Mergers and Acquisition
Twin Cedar’s Bancorp completes acquisition of State Bank of Bussey 
The Iowa Division approved the transaction of Banking in May. With the acquisition, the State Bank of Bussey officially changed its name to Twin Cedars Bank. Read More>>
LPL Financial to acquire Boenning & Scattergood 
The firm has entered into a definitive purchase agreement to acquire the Private Client Group business of Boenning & Scattergood. Boenning & Scattergood comprises approximately 40 financial advisors who serve about USD 5 Bn of advisory and brokerage assets. Read More>>
Executive Movement
Banc of California names Jagdeep Singh Sahota Chief Payments Officer 
The Banc has announced that its wholly-owned subsidiary, Banc of California, N.A., California’s leading relationship-focused business bank, has hired Jagdeep Singh Sahota as Chief Payments Officer. In this newly created role, Sahota will be responsible for developing and overseeing the bank’s strategic initiatives in payments. Read More>>
IDB Bank appoints chief risk officer 
The bank appointed Daniel Roberts as chief risk officer. In his new role, Roberts will oversee and maintain the bank’s capacity to identify, measure, and manage financial and operational risk. Roberts brings over three decades of banking experience and expertise in risk management. Read More>>
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Latest Industry Insights from Draup Braindesk

Loan Process Enhancement
  • Karur Vysya Bank aims to simplify its loan and financial process to help customers with faster financial operations at the right time. 
  • Through the collaboration, Karur Vysya Bank strengthens its position in the loan processing segment for vehicles, homes, personnel, and other services.
Payment Application Development
  • Karur Vysya Bank intends to enhance its banking applications that help customers with payment facilities, money transfers, and other services. 
  • They introduced a secured mobile application in which transactions are simpler and faster than enhancing user experience. 
  • Using the portal, Karur Vysya Bank helps customers pay their customs duty tax without visiting the bank.
Digital Banking Solutions
  • Karur Vysya Bank focuses on expanding its digital banking solutions to provide uninterrupted loan processing, money transfer, shopping payments, and other services from anywhere. 
  • By leveraging portals, applications, and platforms, Karur Vysya Bank offers customers tap & go payment options, contactless payment solutions, and financial services without delay. 
  • Service Providers with rich expertise in Digital Banking Solutions would be apt to serve Karur Vysya Bank with the best solutions.

Funding Alert

Swedbank Robur invests USD 9.5 Mn in e-commerce shipping company Instabox 
Swedbank’s investment in Instabox will support it to expand internationally and drive efficiency in sustainable deliveries. Instabox delivers more than three million packages monthly in Sweden, Norway, Denmark, the Netherlands, and Germany. Read more>>

Startup Spotlight

Company – Kaiko
Total Funding  USD 82.52 Mn
About: Kaiko is a market data provider in the blockchain-based digital assets space, providing institutional investors and market participants with enterprise-grade data infrastructure. Kaiko provides the most extensive digital asset datasets in the industry. Read more>>

Latest Reports Published in Draup

Nationwide Building Society Account Intelligence Report 
Nationwide Building Society integrates Jumio’s API into the online account opening workflow by leveraging AI and ML to automate the KYC process. It utilizes open banking tech to efficiently assemble data from various accounts and sources to create an accurate digital income and expense statement. Read More>>
Close Brothers Group Plc Account Intelligence Report 
Close Brothers strengthened its digital offering by introducing a remote electronic signature solution that helps to enhance the e-sign process for customers. It enhances auto finance analytics innovation tools to enable dealer businesses to unlock their potential for buying and selling vehicles. Read More>>
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