Article: DEUTSCHE BANK RE-ENTERS PAYMENTS SPACE IN JOIN VENTURE WITH FISERV

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DEUTSCHE BANK RE-ENTERS PAYMENTS SPACE IN JOIN VENTURE WITH FISERV

KARTHIK SUBRAMANIAN, 22 June 2021

The bank had exited the business around a decade back by selling it to EVO Payments as it had felt that the business was no longer viable and was highly risky as it was used for gambling and financial crime. But as we have been saying many times over the last couple of months, the payments business is back in vogue and it is expected to grow in a very large manner all around the world in the coming months.

The main driver behind this change in the digital payments business is the pandemic that has been raging around the world over the last couple of years. This has made people stay indoors and even those who are not used to making payments digitally have been forced to do so during this period. Continue reading “Article: DEUTSCHE BANK RE-ENTERS PAYMENTS SPACE IN JOIN VENTURE WITH FISERV”

Article: Adani Stocks Cut Loss After Denying Freeze on Investor Accounts

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Adani Stocks Cut Loss After Denying Freeze on Investor Accounts

Nupur Acharya and P R Sanjai, 14 June 2021

Shares of companies controlled by billionaire Gautam Adani recouped a part their day’s losses after refuting a local report that said accounts of three Mauritius-based funds that own the group’s stocks were frozen.

The Economic Times reported Monday that National Securities Depository Ltd. froze the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund. It said the action was probably due to insufficient disclosure of information regarding beneficial ownership, citing people it didn’t identify. The report sparked a selloff in shares of six listed Adani firms before the ports-to-power conglomerate rebutted the claims. Continue reading “Article: Adani Stocks Cut Loss After Denying Freeze on Investor Accounts”

Article: AURA RAISES $150 MILLION IN SERIES E FUNDING FROM WARBURG PINCUS

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AURA RAISES $150 MILLION IN SERIES E FUNDING FROM WARBURG PINCUS

KARTHIK SUBRAMANIAN, 10 June 2021

The company says that it would be using this investment to improve the consumer experience, and also work on additional features and upgrades to the existing software as well as expansion globally.

“The rise of digitization and with it, digital crime, is fueling a rapidly expanding market opportunity for personal digital security with a total available market of more than $100 billion. In the first quarter of 2021 alone, identity theft grew more than 130 percent, driven by a dramatic increase in government benefits fraud — up nearly 4,000 percent,” said Hari Ravichandran, founder, and CEO, Aura. “At Aura, we’re working to bring peace of mind to consumers that their families are protected from financial crime.” Continue reading “Article: AURA RAISES $150 MILLION IN SERIES E FUNDING FROM WARBURG PINCUS”

Subject: Umesh Subramanian

Subject of Interest

Umesh Subramanian is the Chief Technology Officer at Citadel. Prior to joining Citadel, he spent 13 years at Goldman Sachs, most recently serving as a Partner and Co-Head of the Technology Division. While at Goldman Sachs, Subramanian was a member of the Board of Directors of the Depository Trust and Clearing Corporation. Before that, Subramanian worked at Morgan Stanley. Subramanian serves on the NYU Stern Tech MBA Advisory Board. He received a BTech in Mechanical and Industrial Engineering from the Indian Institute of Technology, Madras, and an MS in Industrial Engineering and Operations Research from the University of Illinois at Urbana-Champaign.

Continue reading “Subject: Umesh Subramanian”