The Weekly Wrap: all you need to know by Friday COB | August 9th

By Puja Sharma

The Weekly Wrap is published every Friday and recaps the week’s main stories and deals, as well as upcoming events and announcements for Prime subscribers only.

The Big Story

The National Bank of Iraq (NBI) has launched an advanced mobile banking application in partnership with Codebase Technologies using its Digibanc platform. This initiative provides NBI’s customers with seamless, secure, and user-friendly access to a comprehensive range of financial services through their handheld devices.

Ayman Abu Dhaim, CEO of the National Bank of Iraq, said, “Our new mobile banking app represents our unwavering commitment to our customers and our forward-looking vision for the banking sector in Iraq. Our goal is to significantly improve financial experiences in the country and provide industry-leading digital banking services.”

The newly launched app has already seen a substantial uptake, with more than 100,000 users adopting the platform. The app has achieved a more than 43% retention rate, indicating high levels of customer satisfaction and ongoing engagement. This reflects the app’s intuitive design and robust functionality, which meet the evolving needs of modern banking customers in Iraq.

Deals of the week

• BNP Paribas plans to acquire AXA Investment Managers for $5.50b
• AI platform Rich Data Co secures $9m in funding from Acorn Capital
• RBL Bank rolls out RuPay Credit Cards with UPI & NCMC facilities
• National Bank of Fujairah partners with Intellect’s eMACH.ai Cloud
• Flexys enters open banking partnership with Moneyhub
• Standard Chartered invests in United Fintech
• RBL Bank rolls out RuPay Credit Cards with UPI & NCMC facilities
• FINQY raises $2m funding to spearhead FinTech innovation and expansion
• SBI General Insurance & HSBC India have forged a bancassurance partnership
• UK’s CloudPay raises $120m in latest funding round
• P. Morgan Payments and PopID expand biometric payment solutions

Be on the lookout for

The fifth edition of the Global FinTech Fest (GFF), scheduled for August 28-30, 2024, promises to be a stellar gathering of the financial technology leadership. Our mission is to establish GFF as the quintessential conference for the global fintech ecosystem, fostering collaboration and shaping the future of the industry.

The Global FinTech Fest (GFF) is an annual FinTech conference organised by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI) and the Fintech Convergence Council (FCC).

Started in 2020, the GFF, in its fifth edition in 2024, has emerged as the world’s largest fintech conference and the largest thought leadership platform in the fintech landscape.

Besides hundreds of sessions, comprising keynotes, panel discussions and fireside chats, the GFF includes exhibition of fintech innovations, investment pitches, workshops, launching of thought leadership reports and academic papers, and hackathons.

The Global Fintech Awards (GFA), which recognise and celebrate exceptional initiatives in the fintech ecosystem by individuals and enterprises from across the world, are instituted under the GFF.