The Weekly Wrap: all you need to know by Friday COB | March 7th

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

Mastercard has entered a strategic partnership with Mashreq to support its launch as a digital bank in Pakistan. The collaboration will focus on enhancing card portfolios across consumer, affluent, and business segments, strengthening Mashreq’s digital banking offerings in the region.

The State Bank of Pakistan (SBP) has awarded Mashreq Pakistan a restricted license for pilot operations as part of the government’s strategy to provide greater access to financial services to underserved consumer groups.

Combining Mashreq’s regional success with Mastercard’s global and Pakistan expertise, this collaboration will introduce innovative digital propositions to individuals and businesses in Pakistan, aiming to bolster the digital economy.

Deals of the week

• Sumsub to power AI-driven fraud verification for Papaya Global
• Tamil Nadu’s TNRTP and IppoPay drive digital payments for rural businesses
• Walletto expands payment capabilities with MB WAY integration
• Finastra teams up with i2c to power digital wallets & card processing
• Lenkie secures $62m to fund business supplier payments
• P. Morgan backs Deem Finance with $400m securitisation facility
• Venn rebrands as Vault, raises $21.5m to enhance business banking
• Alkami acquires MANTL to accelerate digital onboarding for banks
• Lloyds Banking Group secures patent for AI cybersecurity solution
• Venn rebrands as Vault, raises $21.5m to enhance business banking

Be on the lookout for

The IBSi Digital Banking Awards 2025 will take place on April 24, 2025. This prestigious event, organised by IBS Intelligence, celebrates excellence in digital banking, recognizing the most innovative and impactful technology implementations in the industry. The awards honor digital banks, challenger banks, neobanks, and technology providers for their contributions to transforming the banking landscape.

The event will be held at a prominent location, bringing together industry leaders, innovators, and stakeholders to network and share insights. Categories include Impact Achieved, Customer Focus, Innovation in Offering, and Implementation Excellence, among others.

Participants will have the opportunity to showcase their achievements, learn from peers, and gain recognition for their efforts in driving digital transformation. The IBSi Digital Banking Awards 2025 promises to be a significant milestone in the digital banking sector, highlighting the advancements and future possibilities in banking technology.