Equifax taps Snowflake to deliver analytics teams ready-to-query data for smarter decision making.

Key Insights and Signals in Banking & Financial Services 

Centre Setup and Expansion  
AmTrust to open Salt Lake City office
The insurer expects to add up to 180 new high-paying Utah jobs in five years. This further office expansion supports AmTrust’s core lines of business and will help provide enhanced customer service. The new office is set to open in November. Read More>>
BancorpSouth plans 40,000-SF Chenal Office
 The new building will serve as BancorpSouth’s northwest regional insurance and banking headquarters. In addition to BXS Insurance and a full-service bank branch, the building will also house commercial lending, wealth management, and mortgage services. The construction is expected to take 18-24 months to complete. Read More>>
First Tech Federal Credit Union now open in City Place
The financial institution recently opened the doors of a 2,188-square-foot space at 1701 City Plaza. The institution takes up residency on the ground floor of the 10-story American Bureau of Shipping building. The new location offers insurance, investment, mortgage, and notary services and features an ATM. Read More>>
Deals and Deal Renewal
Ally Financial inks home insurance agreement with Hippo Holdings Inc
Under the deal, Hippo will be responsible for underwriting the policies and selling them to customers, whereas Ally will be assuming the risk for them. Before being launched nationally, the Ally-backed policies will be provided in ten states under the agreement. Read More>>
Core Brokers Esports deal for An Post Money Mate
As part of the partnership, An Post Money Mate will become the title partner of the Legion Esports Series and official partner of the Legion Creator Programme. Read More>>
WEMA Bank expands its long-term agreement with Network International
This collaboration will provide the bank access to Network’s advanced digital infrastructure to meet its customers’ payment and card needs in Africa. Read More>>
Vodafone Ukraine, Raiffeisen Bank International A.G. sign contract to manage derivatives
The international agreement allows Vodafone Ukraine to hedge currency risks on the international borrowed capital market with the help of Raiffeisen Bank International AG, which is one of the leading international partners of Vodafone Ukraine in the banking sector. Read More>>
SurePay signs CoP deal with Triodos Bank
Triodos Bank chose to partner with SurePay due to its best-in-class Confirmation of Payee solution. SurePay has a proven track record of implementing the technology without disruption with other financial institutions in the Netherlands and the UK. Read More>>
Mubadala, BlackRock form partnership across private equity funds
BlackRock’s Secondaries and Liquidity Solutions group with a consortium of global institutional investors invested in a portfolio of assets managed by Mubadala Capital, The consortium also made a USD 400 Mn commitment to Mubadala Capital’s third private equity fund which recently held its final close at USD 1.6 Bn. Read More>>
CIT and FRONTSTEPS announce advanced payment solutions for convenience and security
CIT’s C-Vendor Pay solution is now integrated and supported for all CIT and FRONTSTEPS Accounting clients. With C-Vendor Pay, clients can automate all invoice payments with a single file upload, set up workflows and approvals to mirror their existing processes and receive email approvals for a more consistent streamlined process. Read More>>
Coinbase Partners with leading American Bank Pnc
Coinbase has partnered with PNC alongside other industry leaders, including SpaceX, Tesla, Third Point LLC, and WisdomTree Investments. PNC’s crypto initiative seeks to offer clients exposure to digital assets. By launching a crypto service, PNC will be the latest and largest bank to embrace crypto. Read More>>
Credit Karma integrates QuickBooks with Credit Karma Money to help small business employees 
Through this integration, Credit Karma and QuickBooks hope to save money in banking fees for small business employees, giving them the option to deposit their paycheck into a Credit Karma account. Credit Karma Money offers free-to-open checking and savings accounts with no credit checks, no minimum balance, and hidden fees. Read More>>
DBS Bank India and ODeX to launch credit solutions for freight forwarders 
ODeX customers can access comprehensive payment and financing solutions through the partnership for all their ocean shipping transaction needs. This partnership is expected to benefit over 8,500 freight forwarders, aligning with DBS’s commitment to financing local businesses and supporting livelihoods. Read More>>
Equifax partners with Snowflake to make Differentiated Data available through its Marketplace
Customers can now leverage Snowflake’s Data Cloud to rapidly obtain anonymized Equifax Analytic Dataset™ consumer and loan-level credit data, U.S. Consumer Credit Trends macro-level information, B2bConnect™ commercial marketing data, IXI™ economic data, and unique property and housing data for new decision intelligence. Read More>>
PayPal and Fiserv partner to allow paycheck deposits into Venmo accounts
As digital wallets become more popular, the deal between the two fintech companies is focused on giving consumers faster access to payouts and businesses new marketing opportunities on the Venmo platform. Getting workers to send their paychecks directly to a PayPal or Venmo wallet is one of the new partnership goals between PayPal and Fiserv. Read More>>
Mergers and Acquisitions 
BancorpSouth shareholders approve merger with Cadence Bancorporation 
BancorpSouth expects the transaction to close in the fourth quarter of 2021 and anticipates full integration will take place in the second half of 2022. Post completion, the combined entity will operate under the name and brand of Cadence and is expected to have a market value of more than USD 6 Bn. Read More>>
Brex acquires Weav for USD 50 Mn to power All-in-One Finance Solution and a global reach 
The acquisition allows Brex to expand its global presence by establishing an innovation hub in Israel. Since its founding, Weav’s API call volume has grown by 300% each month. Brex is expected to set up an R&D center in Israel led by Weav CEO Nadav Lidor and recruit more employees. Read More>>
Equifax buys crime data company in USD 1.8 Bn deal
Atlanta-based Equifax has made a USD 1.8 Bn purchase of a company that gathers information about the criminal justice system and sells it to federal and state agencies. Appriss Insights, owned by Clearlake Capital Group, is expected to bring in about USD 150 Mn in revenues this year, a growth of 30% from last year. Read More>>
Figure Technologies to merge with Homebridge Financial Services
Figure utilizes blockchain systems for loan origination, servicing, financing, and now private fund services. Homebridge is one of the largest privately held, non-bank lenders in the US. Homebridge expects Figure to deliver a technology platform capable of doubling Homebridge’s capacity for fulfilling loans. Read More>>
Robinhood acquired Say Technologies for shareholder communications
The acquisition strengthens Robinhood’s position in the communications platform as a service (CPaaS) market. California-based Say is a technological platform that gives shareholders access to their total ownership stake. It crowdsources retail investor queries and allows investors to communicate with firms they own during annual meetings, earnings calls, and other events. Read More>>
Executive Movement
Acorns hires Twitter Exec Rich Sullivan as CFO
Sullivan joins Acorns from Twitter, where he led Corporate Finance and FP&A. Before Twitter, Sullivan held executive positions at STX Entertainment and DreamWorks Animation, where he served as the company’s Deputy CFO during his tenure. He has also held various roles at AT&T. Read More>>
African Bank gets new CMO
Sbusiso Kumalo, who recently spent five years at South African retail bank Capitec Bank as head of brand marketing, has now joined African Bank as Chief Marketing Officer. Kumalo brings to African Bank two decades’ financial services experience. Read More>>
AJ Bell names MD for investment platform
The company has appointed Billy Mackay to the role of managing director of its investment platform for financial advisers – Investcentre. Mackay has been marketing director of AJ Bell Investcentre for 13 years. In his new role, Mackay will take responsibility for the platform’s development roadmap, distribution, and adviser service proposition. Read More>>
YES BANK appoints Mahesh Ramamoorthy as Chief Information Officer (CIO)
Mahesh will also lead the new-age technologies such as API, AI/ML, BI, and Business Solutions, which is going to be driving factor for all the new products at YES BANK. Mahesh has over three decades of experience in the BFSI technology space in payments & banking technology, product design, business solution, and project management across Indian and MNC Banks and technology firms. Read More>>

Latest Industry Insights from Draup Braindesk

Use Cases: 


  • SoftBank-owned UK chipmaker Arm has collaborated to transfer data from Arm- IoT platform to Azure which will help developers access devices like intelligent computer-vision-enabled cameras and connected vehicles. 

  • Paytm launches a new Smart POS application for Android phones and its latest Internet of Things (IoT)-based payment device, Soundbox 2.0. 


  • Euronet Worldwide partnered with Standard Chartered to offer dynamic currency conversion services at ATMs in 14 countries across the Asia Pacific and the Middle East using Euronet’s Digital Integrated Payments Cloud. 

  • ICICI bank partnered with Align Books to deliver a digital banking experience to MSME customers and allow them to securely access their bank accounts using the Align Books software offline in case of no internet feasibility. 

Edge Technology: 

  • China Mobile has partnered with ICBC to present an all-rounded customer experience backed by 5G and FinTech into one banking destination at ICBC’s flagship branch in Central Hong Kong. 

  • Visa partnered with Facebook to provide a payments feature on WhatsApp that will allow users to swiftly and securely send and receive money. 


  • ICBC launched an innovative outlet based on a 5G application service in Suzhou, Jiangsu province, integrating various technologies such as Big Data, Artificial intelligence, and Biometric identification. 

  • The Institute for Development and Research in Banking Technology has set up a 5G use cases lab for the banking and financial segment to develop and demonstrate 5G use cases for banking and financial services.   

Key Funding Alert

One nets USD 40 Mn in Series B funding to bring all-in-one banking to middle class 
The round was led by Progressive Investment Company, with participation from Obvious Ventures, Foundation Capital, and Core Innovation Capital, and others. The company intends to use the funds to accelerate customer growth, scale the internal team, and expand its product offerings. Read more>>

Startup Spotlight

Company – Zeni  
Total Funding  USD 47.5 Mn
About: Zeni is an AI-powered finance concierge for startups, powering high-velocity decision-making with real-time insights and full-service bookkeeping, accounting, tax, and CFO services. The company was founded in 2019 and is based in Palo Alto, California, United States. Read more>>

Latest Reports Published in Draup

Fifth Third Bank Account Intelligence Report: Fifth Third Bank focuses on expanding its commercial and mobile solutions through investments in various renewable projects and financial centers. The Bank is keen to enhance its digital capabilities by partnering with different fintech and digital estate planning businesses. Read More>>
Deutsche Bank Account Intelligence Report: Deutsche Bank intends to utilize data security technologies, Blockchain, AI, and analytics to improve risk analytics and advanced security solutions to protect clients’ accounts. The Bank is partnering with leading tech firms to accelerate the bank’s transition to the Cloud and provide improved payment solutions. Read More>>
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