InnovestX Securities Collaborates with Goldman Sachs to Develop Investment Products

Key Insights and Signals in Banking & Financial Services

Centre Setup & Expansion
Alpine Bank Opening First Colorado Springs Location
Alpine Bank invites the community to its grand opening celebration on Jan 19. The branch is located at 90 South Cascade Avenue, Suite 100, in downtown Colorado Springs. They are thrilled to be in the center of the vibrant downtown core and excited to bring their unique brand of community banking to the Springs. Read More>>
Mergers and Acquisition
CardWorks Acquires Dataline Systems  
The amount of the merger deal was not disclosed. With the acquisition, Dataline brings capabilities in payment disbursement services, data reporting and analytics, and business process automation that are additive and complementary to CardWorks Servicing. Read More>>
Equistone Acquires Majority Stake in BUKO Infrasupport and BUKO Waakt 
It will focus primarily on further expanding BUKOs market presence in the Netherlands as well as targeted expansion into neighboring countries. Read More>>
Renasant Bank Acquires Republic Business Credit in an All-Cash Transaction 
RBC will operate as a separate subsidiary of Renasant Bank and will continue to operate under and leverage its existing brand name. Read More>>
InnovestX Securities Collaborates with Goldman Sachs to Develop Investment Products for Thailand   
The collaboration between the two leading financial institutions will provide Thai investors with access to a vast array of Goldman Sachs investment products in global capital markets. Read More>>
Wio Bank Partners with FAB to Facilitate Cash and Cheque Deposits    
Wio Bank’s partnership with First Abu Dhabi Bank provides business owners with secure, seamless digital banking solutions for cash and cheque deposits. Read More>>
Product Launch
Punjab & Sind Bank, SBI Card Launch Co-Brand Credit Cards 
PSB has also entered the credit card market as a new product segment in its portfolio because of this collaboration. Three card variants, the PSB SBI Card ELITE, PSB SBI Card PRIME, and PSB SimplySAVE SBI Card, have been launched by both partners. Read More>>
Executive Movements
Morgan Stanley COO Jon Pruzan to Retire at the End of the Month 
With Pruzan gone, the list of potential successors to Gorman includes co-presidents Ted Pick and Andy Saperstein and investment management chief Dan Simkowitz. Read More>>
Paytm Payments Bank Appoints Surinder Chawla as MD And CEO    
Chawla’s appointment comes as part of PPBL’s ongoing efforts to strengthen its leadership team, enhance its technology capabilities and drive financial inclusion in the country. Read More>>
President Appoints Ronald C. Perera as Bank of Ceylon Chairman
President Wickremesinghe, in August last year, appointed Perera as the Chairman of Sri Lanka Insurance Corporation. Read More>>
Goldman Sachs Set to Cut 3,200 Jobs Amid Bleak Economic Outlook   
Laying off staff is a basic practice at Goldman Sachs, which typically cuts one to five percent of headcount each year, targeting underperforming staff. Read More>>
Financial and Market
RBL Bank Gains After Deposits Rise by 11% YoY in Q3 FY23
RBL Bank rose 1.50% to Rs 182.65 after its total deposits rose 11% to Rs 81,746 crore on Dec 31, 2022, from Rs 73,639 crore in 2021. The bank continues to increase the share of granular retail deposits in the deposit mix, with retail deposits at 42.5% as of Dec 31, 2021, compared to 37.9%. Read More>>
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Latest Industry Insights from Draup Braindesk

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Funding Alert

InsuranceDekho Raises Rs 300 Cr Led by Goldman Sachs  
InsuranceDekho’s board passed a special resolution to issue 1,49,16,506 equity shares at Rs 201.12 each to raise Rs 300 crores (USD 36.5 Mn). West Street Global invested Rs 153.5 crore and TVS capital fund invested Rs 72.35 crore. Investcorp Private Equity, Avataar Ventures, and private investors like Vineet Dhingra, N Laxmi Narayan, Shridham Sons, and others contributed Rs 74.15 crore. Read more>>

Startup Spotlight

Company –  Kristal.AI 
Total Funding  USD 25.35 Mn
About: Kristal.AI develops a digital private wealth platform designed to make premium investments available to the masses. Its platform unlocks sophisticated investment opportunities for underserved, mass-affluent investors and provides a genetic advisory algorithm that helps first-time investors pick the most suitable portfolios (branded as Kristals) according to their financial goals and risk profiles. Read more>>

Latest Reports Published in Draup

ANZ Bank Account Intelligence Report
The document provides an overview of ANZ Bank’s global strategic initiatives. Read More>>
Morgan Stanley Account Intelligence Report
The document provides an overview of Morgan Stanley’s global strategic initiatives. Read More>>
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