PayPal’s USD 2.7 Bn Japan deal heats up buy now, pay later race

Key Insights and Signals in Banking & Financial Services 

Centre Setup and Expansion  
Standard Chartered’s first green trade finance facility inaugurated in the UAE
The bank has successfully executed its first green trade finance facility to support Amplus Energy Solutions FZE, a subsidiary of Amplus Solar. This facility is a significant milestone towards implementing sustainable practices across ecosystems and building more resilient supply chains. Read More>>
Associated Banc to open a new branch in Eagan
The new 2,840 square-foot branch will feature a full-service teller lobby, drive-thru banking with a 24-hour ATM, and access to online and mobile banking capabilities. The new location will replace Associated’s branch at 1270 Yankee Doodle Rd. All employees will move to the new branch location upon completion. Read More>>
Global Payments and Virgin Money partner to redefine digital commerce
As part of this partnership, Global Payments will serve as the exclusive provider of merchant services to Virgin Money. Virgin Money will leverage Global Payments’ unique two-sided network to empower its customers globally with market-leading digital payments experiences. Read More>>
Western Union collaborates with Cebuana Lhuillier
With this partnership, WU customers having a fixed micro-savings account will be able to send and receive money digitally using eCebuana, the Cebuana Lhuillier Mobile App. The Cebuana Lhuillier app will offer domestic and international money transfer services from early 2022. Read More>>
Nubank partners with SoftBank-backed lending fintech Creditas
The bank may become a minority shareholder in Creditas with up to a 7.7% stake in the fintech in the next two years. The companies did not disclose the deal value. Creditas’ products and services will be available on Nubank’s app in Brazil by the end of this year. Read More>>
Mastercard, Paycode partner to deliver financial services in African communities
The partnership intends to provide both company’s offerings on one biometric smart card that will help increase access to critical services and advance economic inclusion for Africans living in remote communities. The partnership is expected to address Africa’s challenges, where an estimated 57 percent of the population in Sub-Saharan Africa remains financially excluded. Read More>>
Fiserv and NPCI team up to help banks and fintechs issue RuPay credit cards
The partnership will launch ‘nFiNi’, a ready stack of services that fintechs and banks can use to issue RuPay credit cards. Fintechs will be able to issue credit to their customers, many of whom are first-time users of banking and credit services, and banks will be able to grow their fintech portfolio while maintaining focus on their core offerings. Read More>>
Mergers and Acquisition
Apollo Global Management clients to acquire up to 50% equity stake in MaxCap Group
The strategic investment will enable the business to continue its rapid growth in Australia and New Zealand. The transaction is expected to bolster MaxCap’s access to capital and strengthen its ability to create and deliver innovative lending solutions for borrowers alongside Apollo’s leading credit platform. Read More>>
CI Financial to acquire Silicon Valley-based Portola Partners
Portola Partners manages USD 5.2 Bn in assets and provides comprehensive investment and wealth planning solutions to respected families with complex, unique requirements. The Portola team and model will be valuable in fostering the development of our ultra-high-net-worth offering across CI Private Wealth. Read More>>
Citizens Financial Group, JMP Group announce merger
Under the merger agreement terms, JMP shareholders will receive USD 7.50 for each common share of JMP they own, or approximately USD 149 Mn in cash. The boards have unanimously approved the merger agreement of each company, and the transaction is targeted to close in the fourth quarter of 2021. Read More>>
Global Payments agrees to acquire MineralTree, a leader in B2B Software-led payments
Under the terms of the acquisition agreement, Global Payments will acquire MineralTree for USD 500 Mn in cash. Global Payments will finance the acquisition with its existing credit facility and cash on hand. The transaction, subject to customary closing conditions and regulatory approvals, is expected to close in the fourth quarter of 2021. Read More>>
PayPal’s USD 2.7 Bn Japan deal heats up ‘buy now, pay later’ race
The company would acquire Japanese buy now, pay later (BNPL) firm Paidy in a USD 2.7 Bn deal to expand in a country where online shopping volume has more than tripled over the last ten years to some USD 200 Bn, but more than two-thirds of all purchases are still paid in cash. Read More>>
Executive Movement 
Access Bank SA appoints acting CEO
The company announced Chrisanthi Michaelide as the acting Chief Executive Officer (CEO). Michaelides’ appointment is effective immediately, subject to South African Prudential Authority approval. Michaelides will embrace the treaty and offer the clients a prosperous future through access to a single market. Read More>>
Western Asset announces CEO and President Appointments
The company has appointed Bonnie Wongtrakool as CEO, and Lisa Meyer as President of the company, effective October 1, 2021. Ms. Wongtrakool will also be appointed to the Board. Ms. Meyer will continue to serve as CFO of the company. Both execs will work closely with Ms. Murphy, who will remain as a Senior Advisor through December 31, 2021, to ensure a smooth leadership transition. Read More>>
Vanguard Australia appoints Managing Director
The company appointed Daniel Shrimski as Managing Director, as Frank Kolimago will become Global Head of Talent Management for Vanguard Group in Philadelphia. Shrimski joined Vanguard’s Australian business in 2011 as the company’s CFO and moved to the US in January 2017 to become the divisional CFO of the US retail investor group. Read More>>
Paytm gets new business heads pre-IPO
The company has elevated at least four executives to the position of Chief Business Officers of its various verticals, ahead of its much-awaited November listing. The names include Ajay Shekhar Sharma, Ripunjai Gaur, and Abhay Sharma, who have been elevated to CBO over the last month from Senior VP positions. Read More>>
Deals and Deal Renewal
BNP Paribas adopts Bloomberg’s mortgage analytics
The bank will be using Bloomberg’s Core Mortgage Premium (CMP) solution to support trading, risk management, and regulatory compliance. CMP provides daily overnight analytics of mortgage-backed securities, including specified pools, collateral mortgage obligations, and to be announced securities. Read More>>
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Latest Industry Insights from Draup Braindesk

Case Studies: 
  1. Digital Payments: 

FSS has collaborated with Oracle to enhance digital payments for banks and provide specialized integration and hosting services for Oracle’s cutting-edge Banking and Payments solutions.  

  1. Mobile Banking App: 

Accenture has partnered with Amazon Web Services to help the US bank and credit facility, Capital One, relocate its flagship mobile banking application to the cloud.  

  1. Cloud Security: 

IBM has partnered with Bank of America for an industry-specific cloud to meet the high regulatory, security, and resiliency standards required for financial services. This partnership advances IBM’s Cloud Policy Framework for financial assistance to establish a new generation of the cloud for enterprises with operational criteria and streamlined compliance controls framework. 

From Account Intelligence: 

BNP Paribas 

  • BNP Paribas focuses on securing transactions, blockchain technology, real estate along with wealth and asset management, and payment solutions. 

  • In 2021, BNP Paribas plans to change its organizational structure with two new operating divisions as Retail Banking (RB) and Investment & Protection Services (IPS), along with Corporate & Institutional Banking (CIB) diversified and integrated model.  

  • BNP Paribas Wealth Management has partnered with InvestCloud to offer Client Relationship Management (CRM) and Client Lifecycle Management (CLM) that enables nurturing high-net-worth (HNWI) client retention & growth. 

  • Reporting & Analytics and Digital Services contribute to 23% of the total outsourcing segments. 

Key Funding Alert

Airwallex secures USD 200 Mn in Series E Funding Round 
The latest investment round has increased the company’s valuation to USD 4 Bn. The fintech platform plans to facilitate its global expansion, including sales and commercial teams through the Series E funding. In addition to Lone Pine Capital, new investors including G Squared and Vetamer Capital also participated in the Series E investment round. Read more>>

Startup Spotlight

Company –  FamPay 
Total Funding  USD 42.85 Mn
About: FamPay is an online and offline card payment for teenagers that helps them make payments online and offline through the FamCard. It also allows parents to send money to their kids. Read more>>

Latest Reports Published in Draup

 Capital Group Account Intelligence Report: Capital Group focuses on Financial Advisor Platform by leveraging the PracticeLab digital platform to deliver business-building ideas and assistance to consumers. Another focus area remains on using AI and ML for financial planning and analysis. Read More>>
American Express Account Intelligence Report: American Express focuses on leveraging numerous technologies such as Robotic Process Automation, Artificial Intelligence, Machine Learning to provide fraud identification solutions to make a safer online transaction. Read More>>
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