This week in BFS: Decarbonization investments to accelerate net-zero global economy efforts by 2020

Latest Industry Insights from Draup Braindesk

Companies focus on developing digital finance solutions that accelerate a secured environment for all customers.  

  • Newyork Life Insurance partnered with Cigna to provide enhanced financial support and partnered with First Book to offer healthcare solutions to students.
  • BNY Mellon focuses on data, connectivity, and expanding its securities services business, particularly its data and analytics capabilities. 

Harris Associates invests in businesses that are priced at substantial discounts to the company’s estimate of intrinsic value, providing a “margin of safety,” which reduces risk and allows for above-average returns over time.   

  • Harris Associates typically invests in fixed-income holdings of high quality and with short to intermediate-term maturities. 

Latest Reports Published in Draup

State Street Account Intelligence Report: State Street uses digital technologies such as IoT, AI, and Blockchain to aid banking and financial services. Read More>>
SunTrust Banks, Inc. Account Intelligence Report: SunTrust Banks provides support affordable housing and targeted economic development through its products and services. Read More>>

Key Funding Alert

Fintech startup Safexpay raises $6M from
T Choithrams BVI, Ardor 

The funds will be used for product development, improving technology for more use cases, and product launches in India and abroad. Read more>>

Startup Spotlight

Company – Xfers
HQ Location – Singapore
Total Funding – USD 32.62 Mn
About: Xfers is a Major Payment Institution approved by the Monetary Authority of Singapore for the provision of e-money issuance services. Read more>>

Key Insights and Signals in Banking & Financial Services 

Temasek, BlackRock partner to launch carbon-cutting funds 
The partnership’s funds will “focus on early-stage growth companies targeting proven, next-generation renewable and mobility technology including emerging fuel sources, grid solutions, battery storage, and electric and autonomous vehicle technologies as well as in building and manufacturing sectors to drive decarbonization, resource efficiencies, and material and process innovation. Read More>>
Bank of Ireland joins Ibos 
As a unique international alliance, consisting of some of the largest banks in the world, the network allows IBOS members to provide local banking services across the globe. Read More>>
GTBank partners with UnionPay International to accept UnionPay cards for transactions 
The partnership underscored the commitment of GTBank and UnionPay to champion a cashless society by enabling UnionPay cardholders to pay for goods and services online and on Point-of-Sale (PoS) terminals in stores. Read More>>
Gulf African Bank in partnership deal with Toyota of up to 95% 
Under the Shariah financing model, the bank and the customer both contribute to the purchase of the vehicle creating co-ownership. Read More>>
RBL Bank Mastercard partner to offer first-of its-kind payment functionality  
RBL Bank account holders can now enjoy contactless transactions across the world through their mobile banking application both in-store and online. Read More>>
Rakuten Europe partners blockchain firm Chiliz on Fan Tokens
Through this partnership, Rakuten customers in Spain, UK and Germany can use Rakuten points to redeem Fan Tokens – collectible, tradable digital assets that provide owners with benefits including voting rights, VIP rewards, club & sponsor promotions, AR-enabled features and super-fan recognition on Read More>>
Mergers and Acquistions
Goeasy to acquire Lendcare for $320 million 
Through the deal, Goeasy aims to accelerate its growth strategy in the consumer credit market by growing its product range and POS distribution platform. Read More>>
Poonawalla-led Rising Sun’s acquisition of stake in Magma Fincorp gets CCI nod 
The acquisition will enable RSHPL to achieve higher efficiencies in its existing businesses in the financial lending space as well as expand and diversify its operations in other business areas where Magma Fincorp is present. Read More>>
Eastern Bank, Century Bank agree to $642m merger 
As part of the transaction, BMO has agreed a “strategic relationship” with Ameriprise’s asset management subsidiary Columbia Threadneedle, granting its wealth management clients access to Columbia Threadneedle’s investment offerings. Read More>>
Western Alliance completes previously announced AmeriHome Mortgage Company transaction 
For Western Alliance, the addition of AmeriHome extends its national commercial businesses with a complementary, low-risk national mortgage franchise. Read More>>
Executive Movement
RBI okays re-appointment of Murali Natarajan as DCB Bank MD and CEO 
Natarajan was appointed as MD and CEO of DCB Bank in May, 2009. Prior to joining DCB, Natrajan has worked with foreign banks Standard Chartered and Citibank. Read More>>
Mastercard appoints Tim Murphy to chief administrative officer 
Tim Murphy, in this new role, will have oversight of the company’s Law, Franchise and Integrity activities, as well as the added management of its People and Capabilities function. Read More>>
Barclays names new Swiss Wealth CEO 
Rahim Daya will retain leadership of the Middle East private banking division, replacing Mathieu, who was recently promoted to head of Barclays Private Bank, Europe and Middle East and CEO for Barclays Monaco. Read More>>
African Bank appoints new CEO 
Kennedy Bungane brings over 20 years of banking experience with him having started his career at Standard Bank in 1991 and earning his banking and leadership stripes through holding several positions in the various departments within the bank.  Read More>>
HSBC brings in Jessica Lee as Asia-Pacific communications chief 
Prior to joining the Alliance, Lee spent four years as Netflix Asia-Pacific VP of communications, after eight years with McDonald’s, where she was chief communications officer for Greater China. Read More>>

Financial and Market Activity
Citibank to exit consumer/retail operations in 13 countries across Asia and Europe, including India 
Citibank is already in the process of looking for buyers, and once a buyer or buyers are finalized, it needs to get RBI’s approval. This entire process could take up to a year. Citigroup would continue to offer its corporate, commercial, and investment banking, brokerage, treasury and trade services, securities, and fund services in India. Read More>>
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