KeyBank and Google Cloud partner to enable Fraud Prevention and AI Assistance in Banking
Key Insights and Signals in Banking & Financial Services
Deal The international innovation initiative Zone2Boost selects eight startups for accelerator The program, which was launched by CaixaBank, Visa, Global Payments, and Worldline to promote innovation in services for businesses, has reached an investment commitment of USD 1.7 Mn for 16 companies. This includes the USD 850,000 Zone2boost has committed to the eight startups incorporated in 2021. Read More>> Mr. Cooper, Sagent ink deal to create a Cloud-based Servicing Platform Under the agreement, Sagent will buy certain intellectual property rights related to Mr. Cooper’s proprietary, a cloud-based technology platform for mortgage servicing. In return, Mr. Cooper will receive an equity stake in Sagent. Read More>> Thoughtworks selected by Standard Chartered to transform Digital Banking Services Thoughtworks will help develop Standard Chartered’s strategic next-generation program – a cloud-based digital banking proposition for its retail and wealth customers. The collaboration brings Thoughtworks’ extensive experience in driving industry-leading digital innovation together with Standard Chartered’s proven banking expertise. Read More>>Partnerships ACI Worldwide to drive payments modernization for South Africa’s Nedbank Nedbank is embarking on a wide-ranging modernization program, migrating all of its legacy systems to ACI’s award-winning Enterprise Payments Platform, including the move to ISO20022, the global financial messaging standard. Read More>> LMC and CPP Investments form a USD 979 Mn Multifamily JV The joint venture will focus on urban and suburban communities across major U.S. markets exhibiting strong population and job growth. The venture will launch with five seed assets: One in Boston, one in Miami , and three in Denver, together totaling 1,371 apartment homes. Read More>> Kyndryl, SoftBank partner to boost digital transformation for Japan-based customers The partnership focuses on multi-cloud enablement, systems integration, and 5G networking to drive digital transformation projects for Japan-based customers. Read More>> Google Cloud partners with KeyBank to deliver Cloud banking KeyBank will use the cloud to launch new products and improve capabilities such as fraud prevention, machine learning, data analytics, and anti-money laundering. It will also use Google Cloud solutions such as its AI virtual agent Contact Center AI to meet client needs. Read More>> 16 tech players join Mastercard Send Partner Program to drive innovation in Digital Payments The first 16 partners represent a diverse cross-section of markets, including the U.S., Europe, and Asia Pacific, with more to be announced throughout 2022. The program provides tech enablers with tools and support to drive innovation in real-time digital payments. Read More>>Mergers and Acquisition Old National completes USD 6.5 Bn acquisition of First Midwest Bank The merger creates the sixth-largest commercial bank based in the Midwest. Old National Bank will end up with USD 46 Bn in assets and USD 34 Bn in AUM. First Midwest Bank branches will be rebranded as Old National Bank by July. Read More>>Executive Movement Ecobank Foundation appoints Elisa Desbordes-Ciss as COO Her role will include overseeing the expansion and strengthening of activities and partnerships across Ecobank’s entire 33-country sub-Saharan Africa footprint. Elisa has impressive experience in communications and CSR, in addition to her strong advocacy skills. Read More>> Natixis IM appoints a new head of global market strategy Mabrouk Chetouane will be responsible for the firm’s global market strategy team, which develops the in-house macroeconomic, asset allocation, and investment views of the firm. Chetouane joins Natixis IM from BFT Investment Managers, where he was head of research and strategy. Read More>> LendingClub appoints Balaji Thiagarajan as Chief Technology Officer Thiagarajan’s extensive experience in D2C technology organizations that leverage big data, ML, mobile technologies, and cloud computing will power LendingClub’s digital mission. Read More>>
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Latest Industry Insights from Draup Braindesk
UBS Group has partnered with ION Markets, a trading technology provider. Traders using ION’s Latent Zero OMS can now access UBS Bond Port’s anonymous global credit liquidity pool, including more than 2,500 clients with firm pricing.
Rabobank has partnered with bol.com to offer quick access to financing to Dutch entrepreneurs who sell via the popular online retail platform.
Coinbase Global Inc partnered with United Masters to pay artists in cryptocurrency for music through Coinbase’s payroll product and enables artists to more equitable, decentralized, and transparently take part in this system.
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Key Funding Alert
PrimaryBid secures USD 190 Mn in a Series C round led by Softbank
The company will use the funding for international expansion, including the US. PrimaryBid will also use the additional capital for product innovation, growing its team, and developing its partnerships. Read more>>
Startup Spotlight
Company – Mudrex Total Funding– USD 6.72 Mn About: Mudrex helps people invest in crypto like a hedge fund does. An investor can simply choose a portfolio based on their risk-reward expectations, and Mudrex will begin buying and selling different crypto currencies on behalf of investors. Read more>>
Latest Reports Published in Draup
Manappuram Finance Limited – Account Intelligence Report
Manappuram Finance Limited focuses on expanding the reach of Online Gold Loan (OGL) products through an app for offline gold loan customers. Another focus area remains on providing doorstep gold loan service to customers. Read More>>
Northwest Bank – Account Intelligence Report
Northwest Bank focuses on implementing Digital Banking via developing Digital wallets and Mobile Banking Apps using emerging technologies, including AI and IoT. Read More>>
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