The Weekly Wrap: all you need to know by Friday COB | Nov 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

Finastra, a global provider of financial software applications and marketplaces has partnered with global FinTech Modefin to offer its Fusion Trade Innovation and Fusion Essence solutions to banks in Africa and several Indian subcontinent markets.

Finastra’s solutions will help Modefin’s customers to embrace open finance and future-proof their banking and global trade operations.

“We are excited to partner with Finastra and bring its proven solutions to our current and future customers,” said Amit Darda, Co-Founder, and Director at Modefin. “We have a longstanding relationship, having partnered previously to bring our own solution to market via its FusionFabric.cloud platform. I look forward to bringing together Finastra’s solutions and expertise with our knowledge of the regional market and strong customer base.”

Fusion Trade Innovation is Finastra’s end-to-end solution with capabilities for frictionless trade and supply chain finance. It uses straight-through processing, digitalisation, and data analytics to enable intelligent trade for growth, with the ability to evolve with evolving compliance, customer, and competitive demands.

Deals of the week

• American Express adds 9 cards to Freedom Finance’s marketplace
• Ping raises $15m seed round to expand payment platform
• Pyypl accelerates growth with $20m series B investment
• JP Morgan and Mastercard launch ‘Pay-by-Bank’ service
• Sharestates expands lending capability up to $75m
• Worldline to buy Banco Desio merchant acquiring in Italy
• Quona Capital closes $332m FinTech venture fund
• Achieve raises a new debt facility totalling $225m
• Mastercard introduces Samsung Wallet for cardholders in Qatar

Be on the lookout for

EngageSmart, Inc. (NYSE: ESMT), a leading provider of vertically tailored customer engagement software and integrated payments solutions, today announced that company executives will participate in Citi’s 2022 FinTech Conference, taking place in New York City, New York. Chief Financial Officer Cassandra Hudson will be interviewed in a fireside chat on Tuesday, November 15, 2022, at 10:15 a.m. ET. Management will conduct meetings with investors at the conference.

EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions. At EngageSmart, our mission is to simplify customer and client engagement to allow our customers to focus resources on initiatives that improve their businesses and better serve their communities.

NextGen Banking in the Middle East

The Cedar-IBSi Summit on NextGen Banking, and Technology held in Muscat on the 24th of November looks to explore this convergence, with perspectives drawn from industry experts, banking leaders, and technology players on a wide range of topics, including Innovation, Digital Adoption, FinTech Collaboration, Customer Journeys, Open Banking, Payments, and more.