Nubank’s acquisition of Olivia points to a future of AI-powered Open Finance

Key Insights and Signals in Banking & Financial Services

Centre set up and Expansion
UBS opens a new major Asian office
UBS officially opened its Singapore office at 9 Penang Road, in a ceremony that featured Chairman Axel Weber, CEO Ralph Hamers, and Asia-Pacific boss Edmund Koh. The 400,000 square feet of the prime property will be the Swiss bank’s largest office in the region. For UBS, which employs more than 3,000 people in the city-state, the office represents a more prominent, campus-style facility. Read More>>
PenFed Credit Union expands financial center in Guaynabo, Puerto Rico
The expansion of the location will provide more space and represents PenFed’s commitment to meeting the needs of members across Puerto Rico while continuing to support Puerto Rico’s economy by providing financial services and adding employment opportunities. Read More>>
Deals and Deals Renewal
Cube to supply global regulatory compliance intelligence services to Revolut –
Cube will provide Revolut with regulatory technology, focusing on horizon scanning and managing regulatory change at a global scale. Revolut will have unrestricted access to Cube’s industry-leading regulatory intelligence platform, which monitors the entire regulatory landscape in real-time. Read More>>
Worldline to provide core components for Austrian digital ID 
The company is supporting Payment Services Austria GmbH on its journey towards becoming a smart transaction provider well beyond payments. Through its products WL ID Center and WL Trusted Authentication, as well as extensive experience in major infrastructure projects, Worldline is providing the technological basis of the new digital identity, a unique app called Read More>>
Emirates NBD joins with AFIN as a founding industry partner for its global fintech registry, ChekFIN
The presence of a worldwide registry where consolidated information on vetted FinTechs is readily available will benefit financial institutions by bringing greater connectivity in the Fintech ecosystem. Key features of the platform include using verifiable credentials, cryptographically secure digital certificates, and assessment of the digital reputation and credibility of various FinTechs. Read More>>
Talisma announces partnership with Abu Dhabi Commercial Bank
The partnership aims to implement a robust AI-powered WhatsApp chatbot for superior customer experience and achieve optimal utilization of digital for growth and efficiency. The 24/7 virtual assistant services on WhatsApp aims to provide real-time solutions to the customers in both English and Arabic languages, where all messages are secured with end-to-end encryption. Read More>>
Trinidad & Tobago partnered with Mastercard to advance digitalization
The partnership will develop and implement strategic solutions that promote digital and financial inclusion by supporting fintech companies on the island. Mastercard and TTIFC will optimize relationships with fintech companies, best practices in payments and services to drive its digital agenda. Read More>>
Mergers and Acquisitions
Advent, Centerbridge to buy Aareal Bank in USD 2 Bn deal 
The private equity firms offered USD 33 per share, valuing the company at USD 1.96 Bn. The bank’s management and supervisory boards support the offer based on an investment agreement for a long-term partnership. Read More>>
Fiserv announces completion of BentoBox acquisition
The acquisition is expected to significantly enhance Clover’s Omni commerce capabilities, enabling Fiserv to cater to the increasing demand for capabilities that enhance interaction between merchants and customers online. BentoBox’s platform designs websites and sets up ordering and marketing capabilities to enable restaurants to better connect with their patrons online. Read More>>
KeyBank acquires XUP Payments Digital B2B Platform
The acquisition expands KeyBank’s digital-first solutions for clients and its technological capabilities. KeyBank will use the technology to enhance experience across its commercial product set and more broadly advance its embedded banking strategy. Read More>>
Nubank acquires Olivia, a financial AI startup 
With this acquisition, Nubank will integrate Olivia’s platform and services into their application and merge the two companies’ teams. The agreement has yet to be approved by the Administrative Council for Economic Defense (CADE), and so, until then, the two companies must operate as independent entities. Read More>>
Executive Movement
The Co-operators Group appoints Harry Pickett as Interim EVP and Chief Information Officer
Pickett will be responsible for the overall strategy, planning, development, and execution of the organization’s information technology (IT) function. A highly experienced IT executive with more than 30 years of experience in the financial service and retail sectors, Pickett had also served global consulting firms. Read More>>
Visa Global CMO Lynne Biggar resigns 
Lynne Biggar will step down as Visa’s Executive VP and Global Chief Marketing Officer in early 2022 after serving in the role for six years. Biggar previously worked at Time Inc. as Executive VP of consumer marketing and revenue after spending over 21 years with American Express in various senior executive roles. Read More>>
Euroclear appoints Michal Paprocki as its new Chief Information Officer 
Michal previously worked in the company as Chief Technology Officer for three years and acted as interim CIO with Marc De Rycke. Before joining the Euroclear Group, Paprocki worked as CEO of ING Tech Poland, where he was in charge of the firm’s IT technology hub, handling the full global IT delivery. Read More>>
Triumph Bancorp appoints Renee Galitis as Chief Information Officer
Galitis will execute the information technology (IT) strategy driving innovation and operational excellence for the company. Renee’s ability to align operational execution and technology transformation makes her an excellent fit for Triumph. Read More>>
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Latest Industry Insights from Draup Braindesk

BFSI Market Overview of Benelux and Nordics:  

Banking companies across the specified region focus on deploying mobile banking, contactless payments, and customer experience enhancement solutions.

Key Funding Alert

A British fintech helping banks enter the cloud hits a USD 1 Bn valuation in a JPMorgan-backed investment. 
British fintech start-up Thought Machine has raised USD 200 Mn in a funding round led by Nyca Partners. The round, also backed by JPMorgan Chase, Standard Chartered and ING, gives Thought Machine a valuation above USD 1 Bn. Read more>>

Startup Spotlight

Company – TeamApt
Total Funding  USD 35.5 Mn
About: TeamApt is a financial technology company focused on developing Digital Banking, Digital Business solutions, and running Payments Infrastructure by rethinking the needs of consumers, businesses, and the financial industry. Read more>>

Latest Reports Published in Draup

Danske Bank Account Intelligence Report: Danske Bank focuses on emerging technologies including AI and ML, IoT, Cloud, Near Field Communication, Blockchain and Contactless technology to provide maximum security to clients and making their access safer. Read More>>
Westpac Banking Corporation Account Intelligence Report: Westpac focuses on developing loan services, mobile banking apps, contactless ATMs, virtual payment cards, and digital solutions to increase the company’s diversity in products. Read More>>
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Key Insights and Signals in Semiconductor

Mergers and Acquisitions  
Qualcomm acquires Clay AIR  
Clay AIR is a leading AI-powered hand tracking and gesture recognition technology company. The acquisition strengthens Qualcomm’s XR technology stack with the addition of Clay AIR’s highly accurate and power-efficient hardware-agnostic technology and an industry-leading team comprised of computer vision, interaction design and machine learning experts. Read More>>
A*STAR’s Institute of Microelectronics teams up with STMicroelectronics  
They will focus on Silicon Carbide R&D for the EV Market and Industrial Applications. The collaboration sets a foundation for a comprehensive SiC ecosystem in Singapore and creates opportunities for other companies to engage with IME and ST in SiC research. Read More>>
ADLINK and NVIDIA lay tracks for Railway AI  
Taiwanese computing device maker ADLINK Technology is teaming up with AI platform specialist NVIDIA to launch new AI-based applications to the railway industry. The company said it continued to deepen its Elite partnership with NVIDIA and could now offer rail solution providers the flexibility to select the most optimal configuration for their digital transformation. Read More>>
Tessolve is now a worldwide PDH partner of Infineon 
The partnership with Infineon will allow Tessolve to showcase its end-to-end capabilities in supporting industrial and automotive OEM’s safety-related hardware modules and more. Read More>>
Katana Graph and Intel Collaborate on Graph Analytics Python Library and Metagraph plugin
The library can also take advantage of the Anaconda Metagraph orchestration layer that provides a common entry point to graph algorithms. Through full Intel CPU optimization, Katana Graph provides the library for native graph applications such as pathfinding, clustering, and node ranking, among others. Read More>>
Executive Movement
Intel appoints Steven A. Long as GM Asia Pacific and Japan
Intel Corporation has announced the appointment of Steven A. Long as General Manager of the Asia Pacific and Japan (APJ) region. Currently, Steve Long is Corporate Vice President in Intel’s Sales, Marketing, and Communications Group. Read More>>
Infineon names COO Jochen Hanebeck as next CEO  
Infineon Technologies COO Jochen Hanebeck will become CEO of the semiconductor maker on April 1, 2022, succeeding Reinhard Ploss, who has led the company since 2012. Infineon’s supervisory board approved the succession plan last week, who gave Hanebeck a five-year contract until March 31, 2027. Read More>>
STMicroelectronics taps Intel in changes to leadership   
STMicroelectronics has recruited an experienced Intel executive as it restructures its executive committee. Remi El-Ouazzane will be appointed President of the Microcontroller and Digital ICs Group, following Claude Dardanne’s decision to retire from this position at the end of the year. Read More>>
Deals and deal renewals 
Qualcomm-Microsoft exclusive deal to end for Windows on ARM 
If Microsoft’s exclusive deal with Qualcomm is about to end, this could open opportunities for several players like Samsung, MediaTek, and Apple’s M1 chips, which could eventually support Windows on Arm. Read More>>
Ford inks GlobalFoundries deal to create computer chips   
The automobile giant is trying to address the supply chain shortage. At first, the partnership was just to develop chips for Ford’s vehicles, but now the company wants to begin manufacturing chips in the United States.  Read More>>
Center setup and expansion
Veeco ships first laser annealing system from a new facility designed to serve the semiconductor market  
This new manufacturing space enables Veeco to serve the worlds leading semiconductor chip providers with increased capacity and world-class lab space. Read More>>
Texas Instruments to construct new fabs for its 300-mm semiconductor wafer from 2022
The company said the construction of the first and second fabs is set to begin in 2022, of which the first fab will start producing the new semiconductor as early as 2025. With the option to include up to four fabs, total investment potential at the site could reach approximately USD 30 Bn and support 3,000 direct jobs over time. Read More>>
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Key Funding Alert

Empower Semiconductor draws USD 45.0 Mn in a Series C1 round  
The startup says its first product family can move voltages and currents up to 1,000x faster than typical solutions, providing energy savings to data centers. The financing will be used for global expansion and development of its next-generation IVR. Read more>>

Startup Spotlight

Company –   Senorics 
Total Funding  USD 12.39 Mn
About: Senorics is a Spin-off of the Integrated Center of Applied Physics and Photonic Materials of the University of Technology Dresden, Germany, founded in 2017. The company specializes in designing and manufacturing optical spectroscopic sensor solutions for industrial applications, such as quality control and process monitoring.  Read more>>
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