Russia’s Sberbank to Launch its Own Ethereum-Powered DeFi Platform

Key Insights and Signals in Banking & Financial Services

SABB in deal with Saudi Electricity to automate bank guarantees
The deal will also help raise the efficiency of financial transaction procedures related to the implementation of projects and businesses. This agreement is part of a bigger effort to strengthen cross-sector collaboration on digital transformation and financial sector development programs. Read More>>
Product Launch
Russia’s Sberbank to launch DeFi platform in coming months
It wants to make the Russian decentralized finance system the best in the world and is currently beta-testing its own platform. The platforms allow users to perform typical banking transactions, such as lending, saving, and investing, based on a distributed ledger, or blockchain, technology. Read More>>
Merger and Acquisition
Marqeta makes first M&A foray with USD 275 Mn Power Finance deal
The deal is to strengthen Marqetas’ credit and card issuing capabilities. The acquisition, Marqetas first, is expected to close in Q1 2023 and will comprise USD 223 Mn in cash, around a third of which is payable over a two-year period. Read More>>
Bandar Utama City Center partners AmBank to enhance Bandar Utama’s Cashless City Master Plan
They announced that cashless and contactless payments are now enabled within Bandar Utama via BUCC’s Apos A8 Unified Payment Terminals at 1 Utama Shopping Centre as well as some other locations. Read More>>
Mastercard, ZoodPay to launch first Virtual Installment Card
ZoodPay will be able to grow its operations and offer Buy-Now-Pay-Later (BNPL) options to clients and merchants anytime and everywhere with the virtual installment card. The solution will be offered to consumers and SMEs worldwide. Read More>>
Executive Movements
Eurazeo names new CEO
William Kadouch-Chassaing was named CEO of the private markets firm Eurazeo. He replaced Virginie Morgon, who was also a member of the executive board. Chassaing has been a member of the executive board since March 2022. He was the firm’s general director of finance and strategy and chief investment officer. Read More>>
Carlyle hires ex-Goldman executive Harvey Schwartz as next CEO
Schwartz, 59, left Goldman in 2018 after a 20-year career at the investment bank. There, he served in several leadership roles, including as its chief financial officer and global co-head of its trading division. Read More>>
Marqeta Names Simon Khalaf as CEO, effective Jan 31, 2023
Khalaf’s appointment comes as Marqeta expands its modern card issuing platform to capitalize on the fast-growing embedded finance market segment. Alongside this, Todd Pollak joins the executive team as Chief Revenue Officer. Read More>>
Financial and Market Activity
Axis Bank: Profit after tax in the third quarter of FY23 at USD 707.8 Mn
Profit after tax for the quarter stood at USD 707.8 Mn as against USD 437 Mn in Q3 FY22. The Banks Net Interest Income (NII) grew by 32% YoY and 11% sequentially to USD 1.3 Bn as against USD 1 Bn in Q2 FY22. Read More>>
Paytms Revenue from Operations grew 42% In Q3 FY23 YoY to USD 249 Mn in Q3 FY23
This growth was driven by an increase in merchant subscription revenues, growth in loan distribution, and momentum in the commerce business. The Gross Merchandise Value grew by 38% YoY to USD 42 Bn, and the reported revenue grew by 21% YoY to USD 144.8 Mn. Read More>>
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Latest Industry Insights from Draup Braindesk

An annuity is a contract between a client and an insurer that guarantees lifetime income in retirement. The Customers pay a lump sum or a series of premium payments to the insurer, and in turn, they provide income payments to the clients in retirement.

Long-Term Care Insurance
Thrivent is committed to helping clients achieve financial clarity and lives full of meaning and gratitude. A key aspect of financial transparency allows clients to navigate the challenging journey with comprehensive care planning.

Budgeting & Savings
The Consumer Price Index (CPI) is one of the primary ways to measure inflation and save money. It tracks the costs of goods & services and the average change over time in the prices urban consumers pay.

Investment During Inflation
Thrivent Financial advisor provides an idea for investment strategies during inflation that ensures the client’s investment portfolio is prepared for periods of high inflation.

Funding Alert

Zopa raises USD 92 Mn as SoftBank sits out of funding round
The British peer-to-peer lender turned digital bank has raised USD 90.3 Mn from shareholders after postponing its initial public offering. The equity round was headed by IAG SilverStripe, which helped Zopa get its banking license in 2019. U.S. hedge fund Davidson Kempner and venture capitalist Augmentum also participated. Fellow shareholder SoftBank did not participate in the latest cash call. The Japanese conglomerate previously led a USD 265 Mn fundraising round in late 2021 that valued Zopa at USD 1 Bn. Last August, SoftBank’s Vision Fund, a significant technology investor, lost USD 23 Bn due to sector values falling. Read more>>

Startup Spotlight

Company –  Lendistry
Total Funding  USD 94.75 Mn
About: Lendistry is a fintech company that offers business loans, SBA loans, and commercial real estate loans for small business owners. The company’s personalized service and accessibility to private capital and government-backed programs give the business the service they expect from a community bank, with the expertise of its veteran financial professionals with national bank experience. Read more>>

Latest Reports Published in Draup

Standard Chartered Account Intelligence Report
Standard Chartered is enhancing its banking operations by offering various digital platform solutions to keep customers connected. Read More>>
Guaranteed Rate Account Intelligence Report
Guaranteed Rate focuses on Digital Platforms and Mortgage Expansion to make processes easier for customers and feel comfortable in all places. Read More>>
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Introducing Account Priorities View in Business Intentions
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