Mastercard’s alliance with HyperPay targets rapid digitalization of banking services in the MENA region

Key Insights and Signals in Banking & Financial Services

Center Setup and Expansion
Krung Thai opens a branch at Provincial Hall
The state-owned and operated bank has opened a branch at the new Phuket Provincial Hall. The bank has been designed keeping IoT in mind with various interconnected devices meant to serve customers quickly. Read More>>
Virginia Credit Union will expand again with the addition of the first branch in Scotts
The branch will be smaller and more adaptable to help VACU reach existing and prospective members in the city. The branch will also leverage technology, enabling the company to expand its footprint and reach more members. Read More>>
Kookmin Bank inks deal with Bank Negara Indonesia
The bank announced that it has signed a business agreement for cooperation with Indonesia’s state-owned Bank Negara. With this agreement, the two banks will strengthen their mutual cooperative relationship and explore new business opportunities. Read More>>
Lombard Odier partners with Aussie wealth manager
The agreement formalises the relationship between Lombard Odier and JBWere, to provide JBWere’s high net worth and ultra HNW clients onshore access to Lombard Odier’s globally diversified and risk-based investment offerings. Read More>>
Mastercard, HyperPay partner to boost digital payments across MENA Region
The agreement aims to boost the adoption of digital payment solutions in the Middle East and North Africa. This collaboration will help businesses, governments and SMEs across the region move from cash to digital. Read More>>
Sumitomo Mitsui, Bitbank’s partnership to offer custodial services to institutional clients
Sumitomo Mitsui has teamed up with BitBank to create a company that will manage digital assets for its institutional clientele. The planned services will support public blockchain-based crypto assets such as Bitcoin (BTC), Ethereum (ETH), and non-fungible tokens (NFTs). Read More>>
Mergers and Acquisition
Todd Boehly and Clearlake Capital complete USD 5.3 Bn takeover of Chelsea
Boehly’s consortium, backed by Clearlake Capital fought off 11 rivals to become the new Chelsea owners, in a sale process that started on March 2 and comprised more than 250 enquiries. Read More>>
Executive Movement
Premier Bank appoints Craig Sciara as VP and Chief Credit Officer
Sciara brings with him 34 years of commercial and corporate banking, leadership and finance experience. He joins Premier from Heartland Financial USA, a large regional bank, with a community banking focus, where he served as senior vice president, regional credit officer. Read More>>
Global Payments appoints tech industry veteran Masseh Haidary as CEO Payments, Oceania
Masseh brings over 20 years of experience leading key divisions and organisations across technology, telecommunication and digital industries, with a successful track record driving strong commercial results and business transformation outcomes. Read More>>
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Latest Industry Insights from Draup Braindesk

  1. Blockchain’s database is immutable, which means one cannot alter the data already present in the blockchain. 
  2. The database is made of cryptographic hashes that cannot be reverse-engineered making them immutable. 
  3. In financial services, the immutable nature of the blockchain makes auditing and transaction processes quick, efficient, cost-effective, and trustworthy. 

Funding Alert

Woodforest National Bank invests USD 2.8 Mn with Neighborhood Lending Partners in Florida
The Bank is participating in the construction and permanent financing of several affordable housing developments in Florida through a USD 2.8 Mn guidance line of credit in a Low-Income Housing Tax Credit (LIHTC) pool with Neighborhood Lending Partners, Inc. Read more>>

Startup Spotlight

Company – TradeWindow
Total Funding  USD 17.4 Mn
About: TradeWindow is a DLT powered network that provides businesses with a secure platform to establish trust and trade globally across interconnected networks. The company’s modular applications for managing export operations include export documentation, compliance, risk management, track and trace, trade finance and international payments. Read more>>
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