JPMorgan Chase wins U.S. contract to validate Treasury payments

Partnerships
CGCC and Kasikornbank agreement inked to support Cambodian MSMEs
The collaboration aims to enhance confidence and provide financing opportunities for entrepreneurs. KBank highlights Cambodia’s strategic importance in its growth plan. CGCC aims to foster MSME growth through guaranteed loans. Read More>>
Yufin taps UBX to expand Merchant’s payment offerings
UBX partners with Yufin, streamlining digital payments for Filipino MSMEs. Yufin uses UBX technology to enhance payment options, aiding financial inclusion. The collaboration aims to serve more Filipinos in the digital economy. Read More>>
Crypto.Com joins forces with PayPal and Paxos to support Pyusd
The aim of the partnership is to support PYUSD trading, enhance payment capabilities, and bridge traditional finance with decentralized finance. Read More>>

Deals
JPMorgan Chase wins U.S. contract to validate Treasury payments
JPMorgan Chase secures a contract to provide U.S. Treasury account validation services for a minimum of 5 years. The deal involves verifying payment information before federal payment issuance. The contract amount remains undisclosed. Read More>>
3i Infotech Limited wins contract from Ujjivan Small Finance Bank Ltd
The contract is worth approx USD 4.7 Million plus USD 45,047 in one-time transition charges from Ujjivan Small Finance Bank Ltd. The contract covers End User Support Service for a 5-year period from October 1, 2023, with the option for extension upon mutual agreement. Read More>>

Centre Setup and Expansion
KeyBank to open a branch in New York
It aims to offer a personalized banking experience, digital signage, and ATM services. The bank will also consolidate its two existing branches in Schenectady into this new location. The aim is to provide clients with improved access to a range of financial products and services. Read More>>
IDBI Bank inaugurates a new Regional Office at Alibaug – Mumbai Zone, Maharashtra
The region will focus on serving the banking needs of Raigad District, emphasizing MSME and Agri (PSL) portfolio growth, leveraging the region’s potential in sectors like Tourism and Agriculture. Read More>>

Executive Movements
Network International appoints Nelly Boustany as Chief Human Resources Officer
Boustany will oversee HR functions across the MEA region. She has extensive HR leadership experience in renowned global organizations and aims to drive HR strategies and programs. Read More>>
Bank of America has named Tyrone Noel as Hampton Roads’ President
With over 20 years of industry experience, Noel will lead 500 employees in various business lines, focusing on growth and community development. He previously served as Merrill Market Executive for Greater Virginia. Read More>>
HDFC Bank Limited announces Chief Compliance Officer changes
HDFC Bank appointed Mr. Rakesh Kumar Rajput as Chief Compliance Officer effective from October 1, 2023, succeeding Mr. Arun Mohanty. Rajput brings extensive regulatory experience, strategic acumen, and a compliance-focused approach from his tenure at RBI and HDFC Bank. Read More>>

New Product Development and Product Launch
Gulf Bank launches the all-new version of its mobile application
Gulf Bank enhances digital leadership with a new mobile app, prioritizing customer satisfaction. The app offers diverse features, enabling seamless and secure banking, aligning with Gulf Bank’s ambitious digital transformation goals. Read More>>

• Wells Fargo focuses on utilizing Artificial Intelligence and Machine Learning technologies that enable Integrated Receivables to correct errors and improve matching logic over time, which helps companies devote less time and resources to manually apply for payments.    
• Wells Fargo’s digital transformation focuses on delivering an enhanced customer experience and enabling increased employee collaboration.

Key Funding Alert

Farther closes USD 31 Mn Series B funding; valued at USD 131 Mn
Led by Lightspeed Venture Partners, the funding brings Farther’s total raised capital since 2019 to USD 53 Mn. Farther integrates expert advisors with technology to enhance client experience and streamline operations for advisors. Read More>>

Startup Spotlight

Company –  CityPay.io
Total Funding – USD 700.83 K
About: CityPay offers a turnkey cryptocurrency payment solution for online and offline businesses, with support for 6 cryptocurrencies and 4 fiat currencies. Our intuitive platform makes it easy to register, set up, and verify your business, and to start receiving crypto payments in minutes. Read More>>

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