Citi
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Validus and Citibank N.A. (Citi) has announced the establishment of a USD 100 million securitisation facility, collateralised by SME loans originated by Validus in Singapore. This collaboration between a large global bank and a fintech is the first-of-its-kind in Southeast Asia in terms of deal and structure and was launched in early Q2 this year. The facility is also supported by First Plus Asset Management Pte. Ltd.…
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Validus has announced that it has entered into an agreement with Citi to acquire its CitiBusiness loan portfolio in Singapore, in a move that will bolster Validus’ top line revenue, customer base, and expand its growing loan book. This is the first time a FinTech in Southeast Asia is acquiring an established bank’s loan portfolio and…
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Citi has named Victor Alexiev, Global Head of D10X for its Institutional Clients Group (ICG). Launched in 2016, D10X is an internal incubation program, under Citi Ventures, that is focused on the exploration of new strategic opportunities for growth and value creation for the bank. The appointment is effective immediately. In this new role, Victor…
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Singapore, 6 August 2020: PPRO, the world’s leading local payments platform-as-a-service, reported an 85% increase in transaction volume from last year, highlighting the exponential opportunities for cross-border e-commerce amidst the COVID-19 pandemic. Due in part to a massive digital shift in e-commerce consumer behaviour, PPRO is now processing an annual run rate of USD 9bn in…
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