VP Bank to exploit the potential of AI in banking in collaboration with ETH AI Center

Key Insights and Signals in Banking & Financial Services

Centre set up and Expansion  
JPMorgan opened a South Korean commercial banking office
Starting in 2019, JPMorgan sought to establish a presence in 19 countries outside the United States and Canada. The bank’s strategy has been to hire local commercial bankers in countries where it already has a presence and to target mid-sized companies, often the subsidiaries of larger corporations that might work with the investment bank. Read More>>
Barclays to open a new business incubator hub in Ayrshire
Barclay’s Eagle Lab is set to open in HALO Enterprise and Innovation Centre, Kilmarnock, in January 2022, hoping to have fledging businesses collaborate, innovate and grow. The facilities include start-up and scale-up workshops and events, sector-specific meet-ups and seminars, and digital learning materials and networks. Read More>>
Deals and Deal Renewal
NBG signs an agreement with Bain Capital, Fortress, and DoValue for Project Frontier 
The agreement aims to dispose of a portfolio of non-performing exposures (Project Frontier). It involves the sale of 95% of the Mezzanine and Junior notes from a securitization backed by a portfolio of non-performing exposures (“NPE”). Read More>>
Mastercard and Previse speed business payments globally
The companies announced the integration of Mastercard Cross-Border Services, a global push payments platform that enables funds to be sent securely and with certainty to any account into Previse’s InstantPay platform. The collaboration will allow instant payments to suppliers in over 100 markets globally. Read More>>
VP Bank partners with the ETH AI Center to incorporate AI into its services 
In addition to offering clients personalized advice, data-based artificial intelligence can help VP Bank react to rapidly a client’s changing needs and provide suitable solutions quickly. The partnership also offers VP Bank the opportunity to participate via various channels in exchanging knowledge within the AI community. Read More>>
Mergers and Acquisitions
Payments giant Fiserv signs a deal to acquire BentoBox
The BentoBox transaction will expand Fiserv’s Clover dining solutions platform that works with nearly 200,000 restaurants to deliver unique and differentiating diner experiences, from quick and casual to full service. Read More>>
Newfi announces majority sale to Athene from Warburg Pincus
 Newfi will sell a majority shareholder interest to Athene from Warburg Pincus, a leading global growth investor, allowing Newfi to combine its capital market expertise with Athene’s balance sheet and deep knowledge in the mortgage space. Read More>>
Executive Movement
Deutsche Bank names new co-head for international private bank in New York 
Deutsche Bank named Wells Fargo Private Bank exec Amrit Walia as the co-head of New York within its international private bank (IPB) unit in the Americas. An industry veteran with over 25 years of experience, Walia oversaw Wells Fargo Private Bank’s wealth management business and strategy across ultra-high net worth, high net worth, and affluent client segments. Read More>>
Invesco strengthens Multi Asset team with two key appointments
Invesco appointed Benjamin Jones as the Director of Macro Research, and Fabio Faltoni, as Product Director. Mr. Jones will lead the macro research for the multi asset team, providing a broad macro framework alongside targeted investment ideas. Read More>>
Cyber Security
NuData, Mastercard bag an award from CyberSecurity Breakthrough 
CyberSecurity Breakthrough announced that NuData Security, Mastercard and an online user verification company, has been selected as the winner of the User Behavior Analytics Security Solution Provider of the Year award in the fifth annual CyberSecurity Breakthrough Awards program. Read More>>
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Latest Industry Insights from Draup Braindesk


Global IoT Application-Market Overview 

  • IoT technology has a wide range of applications, from collecting biometric data through wearable equipped devices to controlling connected devices through communication networks and cloud technologies. 
  • Among top IoT application areas, industrial/ manufacturing, transportation, energy and utility, retail are the major sectors accounting for ~63% of the total market in 2020. 
  • Edge Computing, Cloud Computing, 5G and Blockchain, Industrial IoT, Machine Learning and Artificial Intelligence are the significant trends that can be seen in the Global IoT market. 

Product/Offerings – BFSI- Banking Operations, Insurance Operations, IT & Admin, Sales, and Marketing. 

Banking companies and Insurers are leveraging IoT technologies to improve customer experience by providing offerings like usage-based solutions based on the customer behavior. 

Major Ecosystem Enablers: IoT solutions are prevalent in major banks throughout the globe

Key Funding Alert

Financial Services provider Tala secures USD 145 Mn via Series E led by Upstart 
Tala secured a USD 145 Mn Series-E round led by Upstart and contributions from the Stellar Development Foundation. It will accelerate the rollout of their new financial account experience, which offers clients with fresh tools to borrow, save and manage their money. Read more>>

Startup Spotlight

Company – Codat
Total Funding  USD 69.93 Mn
About: Codat lets banks and fintech plug into their small businesses and their software, giving them access to real-time customer data. Codat has over 60 clients globally, across different industries from traditional lenders to invoice financing, insurance to cashflow forecasting. Read more>>

Latest Reports Published in Draup

Natwest Group Account Intelligence Report : NatWest Group is keen on developing digital transformation, banking operations, scam alerts, planning tools, and transaction solutions with specific goals to increase the Company’s diversity, with online banking and secure payment solutions. Read More>>
Ally Financial Account Intelligence Report: Ally Financial focuses on Financial Platform Enhancements and Digital Services for improving its business capabilities. Ally Financial will position its future goals in enhancing its digital capabilities across Banking & Financial sectors. Read More>>
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