The Weekly Wrap: all you need to know by Friday COB | October 18th

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

Finastra, a global provider of financial services software applications, has announced the implementation of its front-to-back treasury solution, Kondor, at Fortune Vietnam Joint Stock Commercial Bank (LPBank) to modernise the bank’s treasury management operations and capabilities.

This collaboration is part of LPBank’s concerted effort to accelerate its digital transformation strategy and enhance its market competitiveness.

The initiation of the project was carefully designed to help LPBank meet the rising demands of managing more sophisticated treasury and liquidity products for clients, as well as supporting general risk management decisions across the bank.

Ho Nam Tien, Standing Deputy Chairman of LPBank, said, “The successful deployment of this innovative project is a testament to our deep commitment toward digital transformation and creating value for our customers. It also speaks volumes about Finastra’s technological expertise as a partner. While we are in the early phase of recognising the full potential of this investment in our treasury operations, we have already seen steady improvements in trading volumes, transaction quality, and reduced transaction times. LPBank is well positioned to advance its leadership position in Vietnam further.”

Deals of the week

• Yellow Card raises $33m in Series C funding
• TBC Bank Uzbekistan obtains additional $10m in Credit Facility
• GMO Payment Gateway invests $3m in Helicap’s Credit Fund
• Alchemy Pay expands crypto payment solutions with BNB integration
• PKIC, Systems Limited & Temenos to enable Core Banking transformation
• NetGuardians powers PalawanPay to drive fraud protection in the Philippines
• HSBC UK simplifies loan application for International customers
• BNP Paribas Personal Finance UK rolls out 4 tech-based solutions

Be on the lookout for