The Weekly Wrap: all you need to know by Friday COB | October 11th
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
Indian technology firm Aurionpro Solutions has secured a multi-million-dollar deal with a leading bank in Saudi Arabia. In its announcement, the company did not disclose the name of the bank but added that this is the bank’s first order for Aurionpro.
Following the announcement, Aurionpro Solutions shares climbed as much as 4.4% and logged an intraday high of INR 1,763.8 per share on the Bombay Stock Exchange. The company’s market capitalisation stood at INR 9,673 crore at the time.
“This win reinforces Aurionpro’s position in digital banking transformation with the iCashpro platform, designed to meet the needs of both conventional and Shariah-compliant banking systems,’ the announcement read. The bank chose Aurionpro’s next-generation cash management and transaction banking platform to deliver a seamless and contextual customer experience to its corporate clients.
The company said iCashpro+ was selected for its robust functionality, performance, and future-proof architecture. The platform boasts unparalleled flexibility, which facilitates swift customer onboarding and accelerates product launches. Enhanced by a high degree of automation through Arya.ai, iCashpro+ aims to elevate the customer experience. It delivers highly personalised and context-driven interactions, ensuring that each engagement is tailored to meet the specific needs and personas of its users.
Deals of the week
- Farther bags $72m in Series C round from CapitalG & Viewpoint Ventures
- ZenStatement raises $1.62m in Seed round to power CFO stack
- Sopra Banking Software rebrands itself as SBS
- DBS & IRAS enhance tax payment experience in Singapore with eGIRO
- Banked taps Australia’s ‘Pay by Bank’ market with acquisition of Waave
- Multitude Bank acquires stake in Norway’s Lea Bank in €15m deal
- Mashreq & Al Etihad Payments partner on Jaywan card acceptance
- Savings platform Moneybox renews partnership with GoCardless
- Brazilian FinTech Barte raises $8m in Series A led by AlleyCorp
Be on the lookout for
The Cedar-IBSi Digital Banking & AI Summit is scheduled for November 22, 2024, in Mumbai. This event will bring together industry leaders, banking professionals, and technology experts to discuss the latest trends and innovations in digital banking and artificial intelligence.
Key topics include NextGen Digital Banking, the role of Neo and Digital-only Banks, enhancing Customer Journeys and Experiences, and leveraging Big Data and Cloud Technologies. The summit aims to provide a platform for networking, knowledge sharing, and exploring new business opportunities in the rapidly evolving financial services sector.
Participants can expect insightful panel discussions, keynote speeches, and interactive sessions that delve into the future of banking technology and its impact on the industry. This event is ideal for professionals looking to stay ahead in the digital transformation of banking.
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage
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