MeridianLink and Zest AI partner to provide faster decisioning and safer credit access to more consumers

Key Insights and Signals – Banking & Financial Services

Centre Setup and Expansion
Servus Credit Union joins the revival of Calgary’s downtown
Provided by Calgary Herald, Servus Credit Union has opened a flagship business banking center and branch in Fifth Avenue Place in Calgary. Read More>>
Bank of America looks to build a branch in the Pittsburgh Lincoln-Lemington neighborhood
Plans call for lighting around the perimeter of the site, particularly around the door and drive-through ATMs, so people feel safe when they use those facilities. Read More>>
Bank of Baroda aims to expand its presence in GIFT City, Gandhinagar
Bank of Baroda announced that the Banks International Financial Services Centre Banking Unit in GIFT City has inaugurated its new state-of-the-art premises at Brigade International Financial Centre in GIFT IFSC, Gandhinagar. Read More>>
Green Landscaping Group expands financing agreement with SEB, DNB, and Svensk Exportkredit
Svensk Exportkredit is a new party to the agreement, which involves an increase from the current agreement and the possibility of further expansion. Read More>>
Mergers and Acquisitions
Republic Bank merges Cayman operations
This move will enable the RFHL Group to ensure a more robust customer experience and remove some of the duplications that existed across both entities, allowing for greater efficiencies. Read More>>
Access Bank in the clear to acquire Finibanco Angola
Access Bank has announced that it has received regulatory approval from the Central Bank of Angola to proceed with the purchase of a majority stake in Finibanco Angola. Additionally, Access also signed agreements with minority shareholders in Finibanco Angola to buy their stake, after which the Bank intends to hold an 80% stake in the business. Read More>>
Pine Labs joins ICICI Bank to accept digital rupee on its PoS terminals
Pine Labs announced the acceptance of the digital rupee on its point-of-sale terminals in partnership with ICICI Bank. Pine Labs to partner with ICICI Bank in launching CBDC as a payment option under this pilot run by the RBI. Read More>>
MeridianLink and Zest AI expand partnership
The partnership allows banks and credit unions to provide faster decisioning while safely offering credit access to more consumers. Since the partnership between Zest and MeridianLink was announced, customers have benefited from AI-enabled underwriting and more accurate consumer risk insights to accelerate decisioning and deliver more equitable lending experiences. Read More>>
Kenyas Fingo partners with Ecobank to launch neobanking app
Ecobank’s Fingo Africa app allows Kenyan youth to open a bank account on their phones in less than four minutes, compared to two days to two weeks for traditional methods. Read More>>
Executive Movements
HSBC Bank Middle East Ltd makes senior leadership appointments
Abdulfattah Sharaf became Chairman of the Board of HSBC Bank Middle East Limited, and Mohamed Al Marzooqi became HSBC UAE CEO as the Bank grows in the Middle East, North Africa, and Turkiye. Read More>>
John Sprink promoted to Executive Vice President of HomeTrust Bank
Sprink will be responsible for leading and growing revenue of the commercial business unit of the Bank. Sprink will have oversight of the commercial banking staff across five states and responsibility for the Commercial Banking, Equipment Finance, and Treasury Management lines of business. Read More>>
Morgan Stanley to cut 3,000 jobs in the second quarter
The latest move follows another quarter in which fees from the investment banking unit fell, dragging total revenue down nearly 2% to USD 14.5 billion. Read More>>
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Latest Industry Insights from Draup Braindesk

Core Business Expansion:
  • Mastercard focuses on expanding its core payments network to enable payment flows for consumers, businesses, governments, and others. It allows them to transact across multiple payment rails (cards, real-time payments, account-to-account transactions, crypto, and others) with safe, secure, and seamless prices.
Extending Services:
  • Mastercard aims to drive value for customers and broader the payments ecosystem. These services include cyber and intelligence solutions, insights and analytics, consulting, marketing services, loyalty, processing, and payment gateway solutions for e-commerce merchants. It drives value for services and generates revenue while helping to accelerate overall financial performance.
Embrace New Network Opportunities: 
  • Mastercard focuses on building and managing new adjacent network capabilities to power commerce and payments and creating new opportunities to develop and embed services.  
  • Mastercard aims to enhance digital identity solutions and open banking solutions by enabling reliable Access, transmission, and management of consumer data and helping to provide safe and secure virtual entities.
Support Digital Currencies:
  • Mastercard aims to support digital currencies by providing identity, cyber, and consulting services for market participants (including identity and biometric solutions, cybersecurity solutions, crypto analytics, transaction monitoring, and anti-money laundering detection capabilities) and helps central banks design and develop digital currencies.

Startup Spotlight

Company – Kiwi
Total Funding – USD 83 Mn
Kiwi is a fintech dedicated to helping Latinos build credit history and improve financial literacy. Read More>>

Latest Reports Published in Draup

HDFC Bank Account Intelligence Report
HDFC Bank focuses on developing its retail banking services through credit cards to help smaller retailers manage their cash flows better while ensuring that the benefits of digitization trickle into the entire B2B ecosystem. Read More>>
DTCC Account Intelligence Report
DTCC is keen on leveraging technologies like the IoT, AI, Cloud, ML, and Robotic Process Automation to digitize banking operations. Read More>>
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