ClearBank selects ThetaRay AI to monitor and protect the platform from money laundering

Key Insights and Signals in Banking & Financial Services

Centre Setup & Expansion
Macquarie Group opens a new office in Santiago
The new office currently houses two divisions of the company, Macquarie Capital and Macquarie Asset Management, both with the aim of accelerating investment across the region. Read More>>
KeyBank expands into the West Michigan market
The decision to expand into the West Michigan area was a natural choice given the region’s growth. Some initiatives include affordable housing and community development, business loans, and mortgage lending in low- to moderate-income communities. Read More>>
ClearBank selects ThetaRay AI Tech to protect the banking platform
The Bank will transform its AML monitoring operations to a fully cloud-native program with ThetaRay’s SaaS SONAR AML solution. The cloud-native system will provide flexibility to scale and support faster processing of transaction volumes. Read More>>
Mergers and Acquisition
Patria Investments announces expansion into Venture Capital
The company expands its Private Equity vertical by acquiring Igah Ventures to complement its existing flagship and growth equity strategies. This deal combines market experience and expands the platform while aligning like-minded entrepreneurial cultures. Read More>>
Webster signs definitive agreement to acquire interLINK
The acquisition of interLINK provides Webster with access to core deposit funding and adds another technology-enabled channel to Webster’s already differentiated, omnichannel deposit gathering capabilities. Read More>>
U.S. Bancorp wraps up the deal to acquire MUFG Union Bank
The company completed its acquisition of MUFG Union Bank’s core retail banking operations from Mitsubishi UFJ Financial Group in a cash-cum-stock transaction. Notably, the deal does not include MUFG Union Bank’s Global Corporate & Investment Bank. Read More>>
Russian-backed Sberbank integrates with Ethereum and its MetaMask Wallet
The Bank’s blockchain network would integrate with MetaMask wallets to enable seamless interactions with the Web3 industry. Sber’s integration with MetaMask is strategic to its future growth prospects. Read More>>
Finova partners with Manor Mortgages
The partnership will help Finova’s brokers place and process complex cases as Manor Mortgages manages these mortgage applications on their behalf, sourcing and submitting these to specialist lenders. Read More>>
Executive Movements
Sushmita Shukla appointed first VP, COO of Federal Reserve Bank of New York
The appointment was approved by the Board of Governors of the Federal Reserve System. She brings approximately 20 years of leadership experience in the insurance business and a significant understanding of technology and Agile innovation approaches. Read More>>
Northern Trust appoints Monica Safapour as Market President in Santa Barbara
Monica Safapour will lead the team in the delivery of outstanding client service and accelerate the growth of the Northern Trust Wealth Management platform in Santa Barbara. Read More>>
Mass Hiring
Starling Bank to create 1,000 jobs in the North of England
The jobs will be focused in the areas of cybersecurity, software engineering, and data science. The recruitment drive was announced as the digital bank announced it would open an office in Manchester, providing its first base in the region. Read More>>
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Latest Industry Insights from Draup Braindesk

  1. Royal Bank of Canada has transformed daily banking to provide consumers a smoother experience with greater value, which helps them make critical financial decisions. 
  2. The company is developing a digital billing and payment system to assist Canadian financial independence, focused on the BlindSquare app.  
  3. The company continues to increase its digital solutions by implementing Smart Cash Card and RBC’s Mobile app technologies across its operations. 
  4. Toronto, Canada Area, and Vancouver, Canada Area, hold the highest number of RBC’s talent acquisition initiatives. 
  5.  Application Development & Maintenance is the highly outsourced segment which holds approximately 50%, and Capgemini is the key strategic outsourcing partner for Royal Bank of Canada.

Funding Alert

Eurasian Development Bank invests USD 1.2 Bn in Kazakhstan’s Projects this year
 In 2023, the bank plans to allocate USD 1.1 Bn more to the priority sectors of the country’s economy. The bank will invest a total of USD 3.8 Bn in Kazakh projects until 2026. Read more>>

Startup Spotlight

Company – Manzil
Total Funding  USD 3.24 Mn
About: Manzil offers fully compliant financial products, including mortgages and investment opportunities that are locally structured and available to Muslim Canadians looking to build wealth and assets. When financial health is at the forefront of Canadians’ minds, the Manzil team ensures that financial advice and opportunity are ethically available for all. Read more>>

Latest Reports Published in Draup

Equifax Inc. Account Intelligence Report
Equifax wants to work with financial management organizations to improve their technological offerings and financial analysis. Read More>>
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