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The Weekly Wrap: all you need to know by Friday COB | June 28th

By Puja Sharma

June 28, 2024

  • Core Banking
  • Deals of the Week
  • fintech event 2024
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The Weekly WrapThe 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

Tuum, a next-generation core banking platform, has announced the strengthening of its ongoing partnership with Amazon Web Services (AWS). This strategic alignment introduces Tuum to the AWS Marketplace, a platform known for its robust, scalable, and secure cloud infrastructure.

Through this partnership, Tuum will leverage AWS’ comprehensive capabilities to deliver flexible, reliable, and efficient banking solutions globally.

The AWS Marketplace will feature Tuum’s core banking platform, providing financial institutions with an agile, cloud-native banking environment built on a modular microservices architecture.

Enhanced features and benefits through AWS Marketplace availability include:

Accelerated Time-to-Market: Utilizing AWS Marketplace’s efficient distribution channels, Tuum significantly reduces the deployment time, enabling rapid setup and scaling of banking operations.

Seamless Procurement and Integrated Billing: The procurement process is streamlined via AWS Marketplace, simplifying the acquisition and implementation of Tuum’s solutions. Integrated billing consolidates charges, easing customers’ budget management.

Deals of the week

  • Northern Arc Capital raises $75m from Dutch Bank FMO
  • Gynger secures $20m in Series A and $100m in debt facility from PayPal Ventures
  • Supermoney raises $3.4m in Series A Funding from Capital 2B, Capria Ventures
  • LXME raises seed round of $1.2m led by Kalaari Capital’s CXXO
  • TBC Bank Uzbekistan raise $10m Loan from responsAbility Investments AG
  • Verituity raises $18.8m to boost its B2B & B2C Verified Payout Platform
  • Razorpay brings MoneySaver Export Account to simplify global payments to Freelancers
  • VeriPark & FICO team to drive digitalisation in financial services

Be on the lookout for

Join us for the 4th FinTech Happy Hour hosted by Cedar-IBSI Capital and Cedar-IBSi FinTech Lab in Mumbai! After successful events in Mumbai and Bengaluru, we’re back for an exclusive evening of networking on July 5th at 6:00 PM. Connect with industry leaders, including FinTech founders, VC investors, and BFSI executives. Gain fundraising insights, learn GTM strategies, and explore collaboration opportunities. This invite-only event promises innovation and entrepreneurial spirit.

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