The Monday Roundup: what we are watching this week | July 13th

By Puja Sharma

The Monday Roundup sets the scene for the week’s biggest news stories, industry deals, and upcoming events. For Prime subscribers only.

Alternative to cash and card payments across retail

stc pay Bahrain has partnered with Payment International Enterprise (PIE) to enable QR-based payments across PIE’s Point of Sale (POS) network in Bahrain, expanding digital payment options for consumers and merchants across the Kingdom.

The collaboration has connected stc pay’s mobile wallet platform with PIE’s merchant acceptance network, allowing customers to complete transactions by scanning QR codes generated on PIE POS devices through the stc pay app. The service has been designed to provide a faster and more convenient alternative to cash and card payments across retail, hospitality and service sectors.

Through the integration, merchants have gained access to an additional digital payment channel while benefiting from simplified transaction processing and reduced reliance on cash handling. The initiative has supported Bahrain’s wider efforts to accelerate cashless payments and strengthen digital financial infrastructure.

The partnership has strengthened stc pay’s role in Bahrain’s evolving digital payments ecosystem while supporting the adoption of mobile wallet-based transactions. As demand for instant and contactless payments has continued to grow, FinTech providers and payment infrastructure companies have increasingly focused on expanding acceptance networks to improve convenience for both consumers and businesses. The collaboration has aligned with Bahrain’s digital transformation initiatives by enabling broader access to secure, real-time payment solutions across the country.

Indonesian digital lender JULO has raised up to $5 million from existing investors as the FinTech company continues to expand its digital revolving credit platform and prepares for a potential larger fundraising round.

According to reports, the funding round has included participation from existing backers such as Credit Saison, Quona Capital, Skystar Capital and East Ventures. The financing has reportedly been completed in recent months, although JULO has not commented on the details of the fundraising. The company has said that it continues to receive shareholder support and remains focused on strengthening its business fundamentals. The reported capital injection has provided additional funding support as JULO has explored a larger fundraising effort amid a more challenging venture capital environment.

Founded in 2016, JULO has operated a digital credit platform that has provided consumers with access to revolving credit for cash loans, bill payments and e-commerce transactions. The company has used proprietary credit scoring technology and machine learning capabilities to assess borrowers and expand access to digital lending services. JULO has reported that its platform has disbursed more than 28 trillion rupiah (approximately $1.7 billion) in loans to over 3.3 million users across Indonesia since its launch. The company has also directed a portion of its lending towards micro and small businesses, supporting financial access for underserved segments.

The FinTech firm has previously worked with investment bank Evercore on potential fundraising initiatives, although the timeline and size of any future round have not been disclosed. Some early investors have also reportedly explored secondary share sale opportunities.

India’s Push to Simplify overseas payments

With the increasing role of API-driven payment infrastructure in enabling faster, more transparent and interconnected cross-border transactions as digital payment networks continue to expand globally, The National Payments Corporation of India (NPCI) has partnered with HSBC India to enable real-time foreign exchange (FX) settlement for cross-border UPI payments, aiming to improve transparency and convenience for Indian travellers making payments overseas.

The collaboration has introduced an API-enabled infrastructure that allows HSBC India to provide real-time FX rates during international UPI transactions. Customers will be able to view the exact INR amount payable at the point of purchase, while overseas merchants and financial institutions will receive funds in their respective local currencies.

The initiative builds on the expansion of UPI’s international presence, with the payment system currently available across nine countries, including Singapore, the UAE, Nepal, Bhutan, Mauritius, France, Sri Lanka, Qatar and Cambodia. Through these integrations, Indian consumers can use QR code-based payments abroad directly from their Indian bank accounts.

HSBC India, acting as the banking partner, has leveraged its global payments capabilities and API connectivity to support faster and more efficient settlement processes. The solution was designed to enable secure, 24×7 cross-border payment flows while reducing complexity around foreign currency conversion. The partnership has marked another development in India’s efforts to expand the global adoption of its digital payments infrastructure. By combining UPI’s growing international acceptance with real-time FX capabilities, the collaboration has aimed to simplify overseas payments for consumers while improving settlement efficiency for ecosystem participants.

IPC Systems has partnered with Luware to expand its compliance and communications capabilities, giving financial institutions access to Luware Recording, a cloud-based compliance recording platform designed for regulated trading and enterprise environments.

The partnership has broadened IPC’s portfolio of compliance, connectivity and communications solutions as financial firms continue to modernise voice and collaboration systems while meeting evolving regulatory requirements.

Through the collaboration, Luware Recording was integrated with IPC’s global connectivity infrastructure, enabling financial institutions to capture and retain communications across trading and enterprise platforms through a single compliance layer. The platform has supported multiple deployment models, including multi-tenant and private-tenant environments, with compliance-grade storage managed either by customers or Luware. The solution also incorporates artificial intelligence capabilities, including automated conduct risk detection and persona-based summaries, to help firms strengthen compliance monitoring and supervisory processes. IPC said the partnership has also supported its broader objective of providing secure communications infrastructure that promotes transparency, accountability and operational resilience across financial markets. The joint solution is available immediately to IPC clients worldwide, enabling firms to strengthen compliance capabilities while supporting digital transformation initiatives.

What’s the Buzz

A leading US regional bank has selected Temenos to modernise its core banking platform on Temenos SaaS, marking another win for the banking technology provider as financial institutions continue to accelerate cloud transformation.

The agreement, signed early in the third quarter, will see the bank deploy Temenos’ cloud-native core banking platform to support one of its specialised corporate banking business lines. The initiative is designed to improve operational agility while creating a more flexible and scalable technology foundation to support future growth.

Serving consumer and commercial customers across the United States, the bank will migrate from a third-party hosted environment to the Temenos Core Banking platform hosted on Microsoft Azure. The move is expected to enhance scalability, strengthen operational resilience and reduce technology complexity through Temenos’ Software-as-a-Service (SaaS) model.

The implementation has reflected a broader trend among regional banks investing in cloud-native infrastructure to simplify operations, accelerate innovation and respond more quickly to changing customer and business requirements. Temenos has continued to expand its footprint in North America through investments in sales, customer engagement and innovation. The company has recently been recognised by IBS Intelligence as a regional leader in North America and has expanded its Innovation Hub in Orlando, Florida, bringing product development, engineering and banking expertise closer to US customers.

The latest deployment has reinforced the growing demand for cloud-based core banking platforms as US financial institutions modernise legacy infrastructure, improve operational resilience and build scalable digital foundations to support long-term business growth.