The Weekly Wrap: all you need to know by Friday COB | October 27th

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

Africa and Gulf Bank (AGB) has partnered with Temenos to modernize its digital and core banking capabilities. The Temenos solution, hosted on the cloud, will enable AGB to provide innovative products faster to retail and corporate customers in Sudan and around the world.

Having acquired Sudan-based operations of a major Gulf Corporation Council (GCC) bank, AGB commenced operations in late 2021. The bank seeks to bring innovative Sharia-compliant products for its customers within Sudan and internationally to the Sudanese diaspora.

AGB has a customer-centric, digital-first business strategy focused on providing innovative financial products, and services and a branch-lite network outreach to individuals, small and medium-sized enterprises, and corporate customers.

Deals of the week

• Credit Genie raises $10m to expand Behavioral & Personalized finance offering
• Triple-A raises $10m in Series A from Peak XV & Shorooq Partners
• NymCard partners with ACI Worldwide to combat financial fraud
• Sopra Banking Software & HandSome unite to expand financial inclusivity for the disabled
• Razorpay India receives license to acquire merchants in Malaysia
• Alba Bank partners with ClearBank to manage payments for SMEs
• NPCI Bharat BillPay forays into B2B category to offer payments & collections
• Alipay+ joins LankaPay to facilitate cross border payments in Sri Lanka
• Thought Machine & Form3 partner on real-time payment processing
• Sohar International unveils new corporate mobile banking app
• Payhawk partners with Wise to streamline global payments

Be on the lookout for

India’s longest running fintech event, IFTA, organized  by India FinTech Forum, is back for its 8th edition. IFTA is known for celebrating innovation and recognizing groundbreaking fintech startups. This annual event, which has become synonymous with celebrating Fintech excellence from across the world, is set to unveil 24 high potential startups and 6 scaleups that are leading the charge in the financial technology sector. Shortlisted from 1250+ applications from various countries including Australia, Georgia, Hong Kong, Hungary, India, Netherlands, Nigeria, Poland, Portugal, Singapore, Turkey, UK and USA, these companies will be carefully evaluated by a top-notch jury.

The India FinTech Forum is a non-profit initiative that offers a platform for fintech companies to collaborate through consultations, round tables, webinars and meet-ups. More than 4000 fintech companies and over 35,000 individuals who are members of this forum, are dedicated to enhancing the ecosystem to ensure that India leads the global fintech innovation wave.