The Weekly Wrap: all you need to know by Friday COB | September 13th

By Puja Sharma

September 13, 2024

Drip Capital
fintech funding
Fintech news

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

Muthoot FinCorp, an NBFC in India, has migrated its on-premises mission-critical enterprise resource planning (ERP) system to Oracle Cloud Infrastructure (OCI) and the supporting Oracle databases to Oracle Base Database Service.

The migration, part of Muthoot FinCorp’s hybrid cloud strategy, claims to have improved its system performance and operational efficiency by 50%.

Muthoot FinCorp is the flagship company of Muthoot Pappachan Group. It offers a comprehensive service range of financial products, including gold loans, small business loans, and affordable housing loans, to more than 100,000 customers daily through 3,600 branches across India. To continue its business growth and meet changing customer expectations, Muthoot FinCorp is required to effectively scale the management of loan processing and other financial services

Deals of the week

Standard Chartered launches digital asset custody service in the UAE
P. Morgan Payments & Oracle team to introduce product integrations
Cobre raises $35m in Series B round led by Oak HC/FT
Signzy launches AI-led MuleShield to detect fraudulent accounts
Drip Capital raises $113m in funding to accelerate growth
PastPay raises €12m in Series A to accelerate B2B payments across Europe
Griffin opens up BaaS platform to UK FinTechs
Finture’s YUP raised $30m in Series B round to expand into SEA

Be on the lookout for

The Singapore FinTech Festival (SFF) is a global hub where policy, finance, and technology communities come together to foster impactful connections and collaborations. It serves as a platform to explore cutting-edge financial solutions, evolving regulatory landscapes, and the latest technological innovations. Through insightful sessions, roundtables, workshops, and exhibitions, SFF offers an immersive experience to discuss the future of financial services and the digital transformation reshaping global economies. Last year, the festival welcomed over 66,000 participants from 150 countries.

SFF is also committed to sustainability, emphasising responsible practices in every aspect of the event. With initiatives such as a solar-powered venue, upcycled materials, and sustainable dining options, the festival aims to reduce its carbon footprint and set new benchmarks for eco-friendly events. Stay tuned for more updates on our sustainability initiatives.

September 13, 2024