Mastercard and Spire join hands to improve and simplify digital banking activities for customers

Key Insights and Signals in Banking & Financial Services

Center Setup and Expansion
Truist debuts new client-centered Innovation and Technology Center in Charlotte  
The Innovation and Technology Center is a space designed to reimagine the client experience for the more than six million interactions that take place daily at Truist. Read More>>
Customers Bank opens new headquarters in Chester County 
Customers’ employees celebrated at the 40 General Warren Blvd. location to mark the occasion, including baseball-themed employee activities and a “first pitch” by Customers Bank Executive Chairman Jay Sidhu. Read More>>
CACEIS selects Taurus solution to enhance its digital asset offering  
The asset servicing banking company signed an agreement with Taurus, a European market leader in the digital assets and blockchain space, to use its specialized platform. By leveraging Taurus’ capabilities, CACEIS aims to offer more services by interfacing its systems with the Taurus platform. Read More>>
Credit Suisse inks Greensill agreement with Bluestone 
Credit Suisse Asset Management (CSAM) has agreed with Bluestone Resources on a plan for cash payments to noteholders, including the bank’s supply chain finance funds, and to secure Bluestone’s mining operations. Read More>>
Plaid, Royal Bank of Canada reach data sharing agreement  
The agreement means Plaid will replace its practice of screen scraping RBC data — with an application programming interface (API) connection to the bank. With customers’ permission, RBC will now grant Plaid digital tokens that fintech can use to access the bank’s machine-readable data portal. Read More>>
Mastercard, Spire tie up to ease financial Management 
The collaboration will help banks revolutionize consumer engagement and enhance user experiences in the region by integrating Spire “Ingage” and Mastercard’s Merchant Identifier solution. Read More>>
SoftBank Robotics America partners with Autonomous Solutions Inc  
With a focus on outdoor automation, the partnership will accelerate the development of practical landscaping care solutions and logistics solutions (i.e., warehouse terminals and shipping ports). Read More>>
Mergers and Acquisition
Midland States Bancorp completes acquisition of assets associated with two FNBC Bank & Trust in Northern Illinois 
Midland acquired approximately USD 83 Mn of deposits and approximately USD 17 Mn of loans through this transaction. Midland also expects the transaction to be slightly accretive to earnings on an immediate basis. Read More>>
Romania’s antitrust body approves Porsche Bank’s takeover by Dan Ostahie  
Following a review of the transaction, the Competition Council approved the takeover of domestic lender Porsche Bank Romania by local IT&C entrepreneur Dan Ostahie. Read More>>
Stifel to acquire ACXIT Capital Partners 
The highly complementary combination with ACXIT Capital Partners allows Stifel to accelerate the growth of its investment banking business by adding more geographical breadth and regional market expertise to the platform. Read More>>
Executive Movement
Monger Gold Ltd. appoints Lithium professional as new CEO  
Monger Gold Ltd. has named Adam Ritchie as their new CEO. By appointing Ritchie, the company aims to strengthen its capabilities and skills as it progresses the development of the Scotty Lithium Project in Nevada, USA. Read More>>
BOK Financial names new chief accounting officer  
The corporation has named Mike Rogers, CPA, as chief accounting officer, effective upon the retirement of John Morrow in September 2022. Prior to joining the company, Rogers served as the chief accounting officer for T.D. Williamson Inc., a privately held international manufacturing and services company. Read More>>
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Latest Industry Insights from Draup Braindesk

Capability Enhancements
  • Frost Bank offers a full range of banking, investment, and insurance products to manage money, grow wealth and protect customers’ assets. 
  • Frost Bank focuses on developing banking technology services to improve a better service for customer needs. 
  • Frost Bank is keen on improving encryption and authentication technology to prevent cyber-attacks against merchants and third-party service providers.
Outsourcing Opportunities
  • Frost Bank has ~10 outsourcing partners. TCS and Genpact are the major strategic partners for Frost Bank. 
  • The outsourced segments for Frost Bank are infrastructure Management Services, Application Development and Maintenance, Reporting & Analytics, and Consulting & System Integration.
Key Focus and Recommendation Areas
  • Frost Bank focuses on Mortgages’ solution to improve efficiency with a single digital portal that operates and allows customers to spend more time providing informed guidance on their financial situation  
  • Key Recommendation is: AI-Based Digital Banking

Funding Alert

Yes Bank close to raising up to USD 1 Bn from Carlyle, Advent  
As part of this deal, the bad debts of Yes Bank will be transferred to the newly created ARC, in which J.C. Flowers will be the main stakeholder. The fundraising talks had been progressing slowly because of the asset reconstruction company (ARC) deal that Yes Bank was running to offload a large chunk of the bad loans on its books. Read more>>

Startup Spotlight

Company – Celcoin
Total Funding  USD 31.13 Mn
About: Celcoin is a platform that allows other companies to connect to the financial system in a simple and unbureaucratic way. It offers innovative experiences to its customer base spread across more than 170 clients, including banks, fintech, brokerages, and loyalty companies. Read more>>

Latest Reports Published in Draup

State Employees’ Credit Union – Account Intelligence Report
State Employees’ Credit Union plans to build a new facility to enhance programs for needy children and families. The Union also focuses on providing multiple grants for several Organizations to support and develop various local community development programs. Read More>>
Bread Financial – Account Intelligence Report
Bread Financial focuses on partnering with companies to develop credit card programs and digital payment capabilities to promote its omnichannel strategy and growth. Read More>>
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