Komplett’s fresh deal leverages Resurs’ cloud-based platform to optimize Corporate Financing.

Key Insights and Signals in Banking & Financial Services

IndusInd Bank, Asian Development Bank ink pact for SCF
The Bank has entered a partial guaranteed program with ADB with an initial outlay of USD 70 Mn, exclusively towards promoting supply chain finance solutions in India. Read More>>
Trovata signs global distribution deal with Banco Santander
Through the partnership, Santander will market & refer Trovata’s cash management platform to its corporate & investment banking clients to modernize treasury workflows through data-driven automation. Read More>>
Resurs Bank signs agreement with Komplett ASA
Resurs Bank AB has entered into an interim factoring agreement with Komplett ASA. Komplett will use Resurs’ cloud-based platform, which creates an opportunity for products optimized for corporate financing. Read More>>
Mergers and Acquisition
First Bank completes acquisition of Access Bank’s pension business
Access Bank Plc has completed the divestment of its entire equity interest in Access Pension Fund Custodian Limited to First Pension Custodian Nigeria Limited. Read More>>
ICICI Bank and NMDFC join forces to develop banking software
ICICI Bank will develop and deploy the mobile applications & accounting software for NMDFC. In addition to this, it will also provide the source code and executable database data. Read More>>
Executive Movement
Republic Bank appoints Ray Klien as Chief Operating Officer
As COO, Mr. Klien will provide oversight responsibilities on Corporate Banking, Treasury, International Trade, Custody Services, and the Republic Trust Limited Company. Mr. Klien has over 15 years of experience in finance and its sub-verticals. Read More>>
CalBank appoints Carl Selasi Asem as Deputy MD
Carl will be responsible for leading and driving the Bank’s corporate business to grow profitability through superior product and relationship management. Read More>>
SoftBank is planning Vision Fund Staff cuts of at least 20%
The cuts will mostly be in the UK, US, and China operations, which have the most headcount. Executives are still debating how extensive the cuts should be, with some calling for cuts as high as 50%. Read More>>
Credit Suisse could axe 5,000 jobs
The move would mean one position in every ten jobs may be cut across the bank. The discussions about the redundancies are ongoing, and the number of job cuts could still change. Read More>>
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Latest Industry Insights from Draup Braindesk

Funding Alert

Wayflyer raises USD 253 Mn from Credit Suisse in the latest funding round 
Wayflyer has raised this amount in debt financing from Credit Suisse less than four months after securing USD 300 Mn from JP Morgan in a Series B valuing the unicorn at USD 1.6 Bn. Wayflyer lends working capital to e-commerce vendors to help them stock up on inventory and invest in advertising. Read more>>

Startup Spotlight

Company – Copper Banking
Total Funding  USD 42.3 Mn
About: The Copper app teaches teens how to make smart financial decisions by creating a platform for parents and teens to connect. Users also get exclusive access to engaging content curated by a team of financial literacy experts who provide advice and tips on how to take control of their financial future. Read more>>

Latest Reports Published in Draup

Zions Bancorporation Account Intelligence Report
Zions Bancorporation is focused on enhancing digital banking capabilities and offerings by investing in emerging technologies and operations centers to transform fintech. Read More>>
Danske Bank A/S Account Intelligence Report
Danske Bank focuses on Open Banking Platform and Mobile Banking Solutions to enhance customer experience and secures digital payment services. Read More>>
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