Mashreq Bank taps UAE KYC Blockchain Platform, enables firms to open instant digital bank account

Key Insights and Signals in Banking & Financial Services

Center Setup and Expansion
Karur Vysya Bank to open a new branch at Kothavalasa
The newly inaugurated branch is the bank’s 790th and will offer a comprehensive range of banking services like Savings, Current & Deposit accounts, Retail and Commercial Loans, locker, etc., Read More>>
BNP Paribas moves workers to a new office in Sandyford Dublin 
The new flagship office has high environmental credentials, including building energy consumption of 30% less than a standard building, 64% green roof to promote biodiversity, a rainwater harvesting system, and fitted solar panels to offset energy demand. Read More>>
IMF approves new flexible credit line arrangement for Colombia 
The IMF approved a two-year arrangement for Colombia under the Flexible Credit Line, designed for crisis prevention, of about USD 9.8 Bn. The arrangement should boost market confidence and, combined with the comfortable level of international reserves, provide insurance against external downside risks. Read More>>
BNY Mellon enters Singapore’s Digital Assets market with BAS tie-up
The two organizations will cooperate for greater adoption of blockchain, digital assets, and decentralized finance. BAS’ tie-up with BNY comes in the wake of a generally strict regulatory environment both in Singapore and globally, coupled with an increasing interest of institutional investors in digital assets. Read More>>
Mashreq Bank joins UAE KYC Blockchain Platform
UAE-based privately owned Mashreq Bank has joined the UAE KYC Blockchain Platform initiative, partnering with Dubai’s Department of Economy and Tourism (DET). The collaboration aims to offer investors an additional option to open a digital bank account while improving customer data quality. Read More>>
Mergers and Acquisition
Shriram City, Shriram Transport merger to be completed by December
Shriram City has initiated a pilot project in 40 branches to train its employees to cross-sell Shriram Transport Finance (STFC) products as a prelude to the merger process. Read More>>
CrossCountry Mortgage to acquire LendUS
Ohio-based CrossCountry Mortgage has entered a deal to acquire California-based retail lender LendUs LLC. Both companies are thriving private lenders with complementary geographical footprints and a shared commitment to exceptional customer service. Read More>>
Executive Movement
Pepper Money appoints new area managers  
The new staff members are Alessandro (Alex) Di Toro, regional manager – south (Victoria, Tasmania, South Australia, Western Australia, and Northern Territory), Drew Clegg, regional manager – north (NSW/ACT and Queensland), and Victoria state growth manager Pasquale Caia. Read More>>
Sonia Dasgupta to head investment banking of JM Financial 
In the new role, Dasgupta will lead the strategic initiatives and drive growth for the business. Prior to this role, she was the managing director and head of the financial institution’s group at an investment bank and head of group borrowings at JM Financial for 12 years. Read More>>
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Latest Industry Insights from Draup Braindesk


Funding Alert

Temasek to invest USD 162.5 Mn in three Info Edge Ventures funds
Temasek’s investment will make up only 50 percent of the total corpus of these funds, and the balance of 50 percent will be invested by Info Edge or its subsidiaries, subject to approvals from shareholders. The voting window for the approval will close on May 21. Read more>>

Startup Spotlight

Company – SIMBA Chain
Total Funding  USD 28.5 Mn
About: Simba Chain is a cloud-based, smart-contract-as-a-service (SCaaS) platform that enables users to implement decentralized applications dappS for blockchain. The easy-to-use platform is tailored for users, developers, government, and enterprises to quickly deploy blockchain dApps for their enterprise. Read more>>

Latest Reports Published in Draup

Aware Super Account Intelligence Report 
Aware Super focuses on the continuous improvement in its operations (Perform), delivering fund growth (Grow), and providing a simple and consistent member experience (Transform). The company is well-known for developing advanced housing services, support, and storage services for customers. Read More>>
Nomura Securities International, Inc. Account Intelligence Report
Nomura Securities intends to offer investment information by leveraging Nomura’s deep capabilities to support clients’ asset management (equity investment) needs and expand its business from public to private side services. Read More>>
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