D-Wave and CaixaBank aim to take the Quantum Leap in the finance industry

Key Insights and Signals in Banking & Financial Services

Center Setup and Expansion
PLDT Group to build a data center in Laguna
The company is set to build an additional 100MW of data center capacity beginning with a new hyperscale, telco-neutral, and purpose-built facility in Sta. Rosa, Laguna. The city is geographically ideal, being 100m above sea level and far from liquefaction, earthquake, and other natural disaster risks. Read More>>
Freetrade launches in Sweden
The company has launched in Sweden, its second move outside of the UK and first into the European market as part of its plans to bring its stock trading to Europe. In early 2021, Freetrade announced its first overseas expansion with the opening of an office in Australia. Read More>>
Morningstar launches a new research center to help improve the U.S. Retirement System
The Center will provide the industry with unbiased, actionable data and insight for decision-makers seeking to improve retirement plans and outcomes for retirement savers. Read More>>
Argentina, IMF reach a preliminary USD 44.5 Bn deal to resolve debt
The staff-level accord, which includes commitments to narrow the government’s fiscal deficit and money-printing while unwinding energy subsidies, will seek to address the country’s “persistent” high inflation and improve public finances. Read More>>
Aramco closes USD 15.5 Bn BlackRock-led gas pipeline deal
 Saudi Aramco closed a deal to sell a stake in its natural-gas pipelines and entered a pact with BlackRock Inc. to explore low carbon energy projects in a lease and leaseback deal. Read More>>
D-Wave, CaixaBank Group collaborate on Quantum for the finance industry
VidaCaixa leveraged D-Waves Leap Quantum cloud service and Quantum hybrid solvers which combine the strengths of classical and Quantum computing to build an application within their investment portfolio selection and allocation, and within their portfolio hedging efforts. Read More>>
Paytm partners with IRCTC for unreserved, platform tickets
The Automatic Ticket Vending Machines placed at the railway stations are touchscreen-based ticketing kiosks that will allow passengers to pay digitally without requiring smart cards. Read More>>
Wayfair partners with Capital One to provide Credit Solutions to Wayfair Professional Customers
With Capital One Trade Credit, Wayfair will offer a Wayfair Professional Credit Card with rewards and a Flex Account with extended payment terms for Wayfair Professional shoppers. The program will allow access to increased purchasing power and improved payment flexibility. Read More>>
IIFL Finance partners with NIRA to offer personal loans
Through this partnership, salaried customers can avail of a personal loan of up to 1 lakh from IIFL Finance by downloading the NIRA app from Google Play store. Read More>>
Mergers and Acquisition
Axis Bank to acquire Citibank India’s Retail Business for USD 2.6 Bn
As part of the deal, Citibank will continue to serve the customers during the integration period so that the transition is seamless and no one is inconvenienced. Citibank is set to announce the closure of the deal for its consumer business in India next week. Read More>>
M&T Bank Corporation closes acquisition of People’s United Bank
The combined company will create a franchise with nearly USD 200 Bn in assets and a network of more than 1,100 branches and over 2,000 ATMs across 12 states. About 157 of those branches will be located in Connecticut. Read More>>
Executive Movement
Credit Suisse names Saad Rawra as Head of Clean Tech banking in Canada
Rawra will be based in Toronto and report to Credit Suisse Canada CEO Ron Lloyd and Robert Santangelo, the co-head of global energy and infrastructure banking. Rawra returns to the Swiss bank after spending the past three years with National Bank Financial as the head of Clean Tech. Read More>>
Remitly powers Executive Leadership with a new Chief Technology Officer
In this role, Ankur Sinha will be responsible for leading Remitly’s technology strategy and teams with a focus on optimization of current platforms as well as ongoing innovation. Read More>>

Latest Industry Insights from Draup Braindesk

Northwest Bank – Account Intelligence Report
  • Northwest Bank has launched the Zelle app, which helps users transact with friends, family, and others using the Northwest mobile app and online banking account. 
  • Northwest has launched a Digital wallet to let customers add credit or debit cards to their mobile.

Key Funding Alert

Carlyle may invest up to USD 586 Mn in Yes Bank 
The expansion capital will be used to further bolster Yes Bank’s balance sheet two years after it was placed under the guardianship of the State Bank of India to stave off a possible run on its deposits. Private equity firm Carlyle is mulling a USD 500-600 Mn investment in the private sector lender. Read more>>

Startup Spotlight

Company – Proxymity
Total Funding  USD 51.5 Mn
About: Proxymity is a digital investor communications platform. Proxymity connects issuers, intermediaries, and investors in real-time through a unique digital pathway, which creates more efficient, more accurate, and more transparent solutions. Read more>>
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