• Low interest rates: Unlike other forms of financing, where you start paying interest on the principal irrespective of usage, the personal line of credit calculates interest on only the amount that you withdraw, which may be significantly lower.
• Lower instalments: Since you don’t start paying interest charges until you use the loan, the instalments are likely to be of a much smaller amount.
• Flexibility: Line of credit allows you the flexibility to choose the amount you want to withdraw as well as the repayment tenure that ranges between 24 to 60 months.
• No collateral: Line of credit is one of the few financing avenues that require no proof of your assets or collateral against the loan amount.
• No hidden costs: You are not expected to pay any fees for the withdrawals you make. There are no limits on the numbers of times you can make withdrawals either.

Entries are now open for the 2017 BAI Global Innovation Awards. With 13 honors spanning 10 categories, BAI’s Awards celebrate the greatest achievements and innovations in the financial services industry. Nominations will be accepted through Friday, April 28, 2017, with a shortlist of nominations for each category announced by late summer. Winners will be recognized at BAI Beacon 2017 (Oct. 4-5) in Atlanta.

BAI’s Global Innovation Awards program serves as a catalyst for worldwide financial services innovation. Since 2011, the BAI Global Innovation Awards have provided a global platform to inspire and connect forward-thinking financial services organizations and leaders who are driving positive change and moving the industry forward, positively impacting customer experience, efficiency and profitability.

The 2017 BAI Global Innovation Awards will be presented in the following categories:

• Product and Service Innovation
• Channel Innovation
• Innovation in Payments & Wallets
• Internal Process Innovation
• Innovation in Societal and Community Impact
• Innovation in Human Capital – NEW!
• Innovation in Marketing – NEW!
• Innovation in User Experience – NEW!
• Innovative Accelerator or Incubator – NEW!
• Breakthrough Collaboration in Financial Services – NEW!

The expanded categories provide additional opportunities for financial services organizations to highlight unique strengths, or areas where they’re taking risks to deliver new value to consumers. The Awards program is changing just as the industry is changing, making now the ideal time to incorporate new elements into the Awards.

“Technology and digitization have been driving forces for the transformation of financial services since the inception of the Awards,” said Debbie Bianucci, BAI President & CEO. “We are now seeing the integration of emerging technologies to accelerate the rate at which banks innovate and deliver new products and services to consumers, globally.”

The BAI Global Innovation Awards are open to financial services organizations, including FinTech companies that directly serve consumers worldwide. Program participation provides enduring recognition and global visibility for groundbreaking achievements in financial services innovation. Winners and finalists benefit from an elevated status as industry visionaries and trailblazers within a rapidly evolving financial services landscape.

To learn more about the BAI Global Innovation Awards and submit nominations, please visit BAIGlobalInnovations.com. To learn more about BAI Beacon, visit BAIBeacon.com.

About BAI

BAI delivers the financial services industry’s most actionable insights, enabling leaders to make smart business decisions, every day. We’re passionate about the trusted information and powerful tools that provide leaders with the clarity and confidence needed to prepare for tomorrow, while performing better today. For more information, visit www.bai.org.

BAI is the Bank Administration Institute and BAI Center.

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• Uses a highly sophisticated algorithm to evaluate financial and alternate data for detailed credit analysis – ‘myScore’
• Completely paperless mobile application which provides instant loan offer
• End-to-end loan application within 5 minutes!

Grameen Koota Financial Services Private Limited (Grameen Koota) has raised Rs.250 Cr. from its holding company, CreditAccess Asia (CAA), headquartered in Amsterdam, which is the leading multi-country Microfinance operator in India and South-East Asia. Part of the infusion, Rs.50 crore, will be provided in the form of equity and the remainder, Rs.200 crore will be provided in the form of Compulsory Convertible Debentures (CCDs).

The investment will support Grameen Koota in its planned expansion and portfolio growth, and its efforts in increasing financial inclusion, through its local operations, across the states of Karnataka, Maharashtra, Tamil Nadu, Madhya Pradesh and Chhattisgarh. Grameen Koota has recently initiated a new business line for Enterprise Loans (individual loans) for its graduated women borrowers to enhance their business.

“We are quite excited with this fresh infusion of capital from CreditAccess Asia, who have always been very supportive. This infusion will significantly enhance our abilities to expand financial inclusion to more customers who have little or no access to formal source of credit”, said Mr. Udaya Kumar, Managing Director and Chief Executive Officer, Grameen Koota.

Chief Executive Officer of CAA, Paolo Brichetti said: “We are very happy to provide Grameen Koota, our flagship operating company, the capital they need to enable them to further increase financial inclusion, within the unbanked sector of India, by offering fair and stable access to credit and other financial services. We are confident in the growth prospects of the company and we look forward to continue working with Udaya Kumar and the management team to drive Grameen Koota’s success in this sector.”

With an outstanding portfolio of Rs.3,065 crore and serving over 1.6 million customers, Grameen Koota has been given the top industry grading of ‘mfR1’ by CRISIL and its long-term BASEL and NCD ratings by ICRA is 'A'. It was also awarded top Microfinance India award in December 2015.

Smart Campaign’s re-certification for upholding client protection principles, social rating of ‘∑α’ by Mcril, code of conduct adherence rating of 'COCA 1' by SMERA and the MIX S.T.A.R. MFI recognition validate Grameen Koota’s commitment to social performance, pro-poor business as well as financial and social development goals.

About Grameen Koota

Headquartered in Bangalore, Grameen Koota Financial Services Private Limited (Grameen Koota) is currently operational in five states with 390 branches. Currently, its portfolio size is Rs.3065 Cr with a customer base of over 1.6 mn in the states of Karnataka, Maharashtra, Tamil Nadu, Madhya Pradesh and Chhattisgarh. Grameen Koota has been in micro-credit operations since 1999 and it is now 4th largest microfinance institution in India. Currently, Grameen Koota provides micro-credits to Joint Liability Groups formed exclusively of women belonging to poor and low-income households by providing them with its diverse financial and developmental services including products for Income Generation and access to Water, Sanitation, Education, Health Care, Home Improvement among others. Grameen Koota recently initiated individual loans for expanding business to the borrowers graduated from Joint Liability Groups.

More information on Grameen Koota can be found at www.grameenkoota.org

About CreditAccess Asia

CreditAccess Asia is an operator of credit institutions in India, Indonesia, and the Philippines, Grameen Koota being the largest institution. Today, its regional companies in Asia have a total portfolio of Rs.3,312 crore (US$496 million) with over 18 lakh clients. CreditAccess Asia companies employ approximately 7,840 people across the world.  CreditAccess Asia is committed to support the regional companies with capital to further extend its outreach to unbanked women entrepreneurs in Asia. The focus on the very attractive and fast-growing segment of micro-enterprises that do not have access to local banking services provides significant growth opportunities. 

More information on CreditAccess Asia N.V. can be found at www.creditaccess.com. 

Andersen Global welcomes the addition of Olleros Abogados, a Spanish firm with locations in both Madrid and Valencia. They will join Andersen Global as a member firm, officially adopting the Andersen name and combining forces with the existing Barcelona team with whom they already share a close relationship. Together, they will operate as Andersen Tax & Legal in Spain.

Olleros Abogados joins Andersen Global with nearly 160 professionals and 30 years in the legal sector. In 2016, Olleros Abogados increased both turnover and headcount by 20%, becoming one of the leading Spanish firms in consolidated growth within the legal market.

“I began my professional career at Arthur Andersen in Madrid in the tax, legal, and foreign investment departments, and later founded Olleros Abogados with the goal of offering the most innovative and comprehensive solutions for our clients. A decade at Andersen instilled important principles in me such as transparency and high caliber client service capabilities that remained strong at Olleros Abogados and will continue at Andersen Tax & Legal,” said Jaime Olleros, the Managing Partner of Andersen Tax & Legal. “I have strong relationships with many of the former and current Andersen Partners and am excited to join the Andersen family again.”

“The Partners and professionals at Olleros exemplify the attributes that I hope for in my colleagues, and formally joining together is the logical next step in seamlessly integrating with other locations in Spain and globally. The addition of Olleros will bring great depth to the Andersen Tax & Legal team,” commented Managing Partner of Andersen Tax & Legal in Barcelona, Toni de Weest Prat.

The professionals at Andersen Tax & Legal provide both legal and tax advice, including corporate compliance, business law, regulatory, litigation, arbitration, labor law, transaction services and restructuring and intellectual property law, to individuals and corporate clients.

“Jaime and his team represent the best qualities of our culture. Through the addition of synergistic individuals, we are continuing to strengthen our capabilities in Spain as we add groups that embrace our core values,” added Andersen Tax CEO, Mark Vorsatz.

With the addition of these Andersen Tax & Legal locations in Madrid and Valencia, Andersen Global now has more than 1,800 professionals and a presence in 59 locations worldwide.

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Wells Fargo & Company (NYSE: WFC) announced that it has added more than 2,500 Axis Bank locations to its ExpressSend^® remittance payout network in India, bringing the total number of locations in that country to more than 8,300, in addition to nearly 35,000 ATMs. Wells Fargo also announced that beginning April 8, 2017, it will offer a $0 transfer fee for all ExpressSend transactions sent to India, extending pricing that was previously available for transactions larger than $500.

“We know that our ExpressSend customers have a choice of remittance providers, and they choose our service because it is economical, dependable, and convenient for both the customer and their family and friends back home,” said Daniel Ayala, executive vice president and head of Wells Fargo's Global Remittance Services. “By adding Axis Bank to our network in India, this expansion will make it even more convenient for beneficiaries in India to receive their money, and give our customers another reason to feel good about sending money back home.”

ExpressSend customers can send up to $5,000 per day to a beneficiary in India receiving the funds to their account. Beginning April 8, 2017, all transactions sent to any ExpressSend location in India from an eligible account pay no transfer fee (previously, customers sending up to $500 paid a transaction fee of $5). In addition to Axis Bank, beneficiaries in India may receive remittances at more than 5,700 locations and more than 22,000 ATMs operated by ICICI Bank and HDFC Bank.

“Wells Fargo’s integration of Axis Bank into its ExpressSend network provides a valuable opportunity to Indian transnational families,” said Manuel Orozco, Senior Director at Inter-American Dialogue. “This initiative will enhance financial asset building opportunities for the more than 2 million households - representing the third largest migrant community in the U.S. – that send funds from the U.S. to India. This expansion will also financially empower millions of women-headed households in India.”

According to the World Bank Group, remittance volume from the U.S. to India totaled $11.5 billion in 2015, making India the third largest recipient of U.S. remittances. Additionally, according to a 2016 WealthInsight report, more than 133,000 non-resident Indian (NRI) millionaires live in the United States, representing more than half of all NRI millionaires worldwide.

ExpressSend transactions can be initiated by calling Wells Fargo Global Remittance Services at 1-800-556-0605, going online at wellsfargo.com, or visiting a Wells Fargo banking branch, making Wells Fargo the only U.S. commercial bank to offer all three channels for remitting funds. The first remittance sent under each ExpressSend Service Agreement must be initiated in person at a Wells Fargo branch. Customers with an existing checking or savings account may be able to initiate their first remittance by calling the Wells Fargo Phone Bank℠.

Wells Fargo Bank, N.A. All rights reserved. Member FDIC. In addition to the transfer fee, Wells Fargo makes money if converting U.S. dollars to a foreign currency.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,600 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 269,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 27 on Fortune’s 2016 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

About Axis Bank

Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 3,211 domestic branches (including extension counters) and 13,726 ATMs across the country, as of 31st December 2016, the network of Axis Bank spreads across 1,946 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has nine overseas offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Shanghai and Colombo; representative offices at Dubai, Abu Dhabi and Dhaka and an overseas subsidiary at London, UK. The Bank’s website, www.axisbank.com, offers comprehensive details about its products and services.

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WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions, today announced that it will begin issuing virtual credit cards in Singapore, expanding its program in the Asian region that currently includes Hong Kong and Thailand.

WEX’s single-use virtual credit card (VCC) technology, assigns every transaction a unique card number, and provides companies with additional controls for security. Additionally, the VCC technology can deliver efficiencies by reducing reconciliations, queries and invoice processing.

“We are proud to have achieved this important milestone to support the growth of the WEX virtual product in the Asia Pacific region. Singapore is an important market for us and coupled with the fact that it is a global financial centre, this endorsement marks our commitment to the region,” said Jim Pratt, SVP and GM for Virtual Payments, WEX Inc.

“Obtaining an issuing license in Singapore is a tangible demonstration of our commitment to growing our issuance capabilities in Asia.” said WEX’s Managing Director for Asia Pacific, Jeff Ames from WEX’s regional headquarters in Singapore. “WEX’s continued focus on providing increased access to new markets in in Asia, and globally, positions us strongly and enables us (WEX) to better support our customers.”

WEX’s subsidiary, WEX Finance Inc., was granted an issuing license by the Monetary Authority of Singapore on 14 February 2017 which enables it to issue credit and charge cards in Singapore under the Banking Act.

About WEX Inc.

WEX Inc. (NYSE: WEX) is a leading provider of corporate payment solutions. From its roots in fleet card payments beginning in 1983, WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing more than 10 million vehicles and offering exceptional payment security and control across a wide spectrum of business sectors. WEX serves a global set of customers and partners through its operations around the world, with offices in the United States, Australia, New Zealand, Brazil, the United Kingdom, Italy, France, Germany, Norway, and Singapore. WEX and its subsidiaries employ more than 2,500 associates. The Company has been publicly traded since 2005, and is listed on the New York Stock Exchange under the ticker symbol "WEX." For more information, visit www.wexinc.com and follow WEX on Twitter at @WEXIncNews.

For more information about WEX Asia, please visit www.wexasia.com.

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Export Development Canada (EDC), Canada’s dynamic export credit agency, today announced its new and first global branch outside of Canada, in Singapore.

EDC’s foreign representations in Mumbai and Delhi will continue to operate and build relationships in the country. However, EDC’s new branch will bring its global-scale financing business closer to projects and companies in India by negotiating and executing financing transactions from Singapore.

“EDC’s new branch can process transactions in real time for Indian companies, eliminating the previous 12 hour delay to connect back to our financing team in Canada,” says Bill Brown, Regional Vice-President, Asia, EDC. “EDC’s financial services are now offered more quickly and effectively, which will significantly benefit Indian companies.”

In October 2016, EDC provided the first ever ECB rupee loan to Infrastructure Leasing and Financial Services (IL&FS), demonstrating EDC’s commitment to meet the needs of Indian businesses in the currency of their choice.

“EDC is now looking to offer this service to more companies in India,” says Mr. Brown. “The new branch in Singapore will not only play a large role in making local currency financing more accessible to Indian corporates, but also in increasing the total amount of business facilitated between India and Canada.”

The new Singapore branch is expected to play an important role in doubling EDC’s loan bookings by 2021, when it hopes to be providing over USD 4 billion in new commercial financing annually. EDC’s focus will be developing financing relationships with corporations and project owners in India that may already have Canadian suppliers, or where there is potential for future Canadian supply. EDC can also support Canadian foreign investment and foreign investment into Canada where there is a direct link to Canadian exports.

In addition, EDC will actively pursue opportunities to partner with commercial banks within club and syndicated financing facilities of select corporations in India.

“India’s economy is growing at an exceptional pace and Indian companies need the capital to support their growth aspirations and trade focused business,” said Mr. Brown. “EDC offers Indian corporations a stable, global-scale financier with a long-term partnership horizon. Not only do we provide financing, but we can help your company reduce costs, be more productive, and more innovative by introducing Canadian technology and expertise.”

In the past five years, EDC helped facilitate over CAD 10 billion in business between Indian and Canadian companies, through the entire range of its financial solutions.

Key sectors of interest for EDC in the Indian market are infrastructure (including power and clean technology), information and communications technology, with additional interest in oil and gas, agri-food and transportation (aerospace and rail).

In 2016, EDC supported nearly 340 companies in India, who were key drivers of the CAD 34 billion in two-way trade over the last five years between Canadian companies and Indian companies and consumers.

India is a strategic market for Canada and is also a market of corporate priority for EDC. EDC is looking to grow the amount of financing that it offers to Indian companies for their capital expenditures, whether the financing be for general corporate purposes or project finance purposes.

EDC also has permanent representations in Mumbai, Delhi, Jakarta, Beijing, Shanghai, Bogotá, Rio de Janeiro, São Paulo, Lima, Mexico City, Monterrey, Santiago, Moscow, Johannesburg, Dubai, Istanbul, London, and Düsseldorf.

About EDC

EDC is Canada’s export credit agency, providing financial services for companies that buy from Canadian companies, or those that have Canadian supply and services in their corporate value chains. EDC’s financing can be used for capex and/or project finance requirements, either through bilateral or syndicated corporate facilities. Operating on commercial principles, EDC has a partnership-preferred philosophy to collaborate with private-sector financial institutions to share risk and create greater capacity for Canadian trade transactions. EDC is committed to Corporate Social Responsibility, and it takes into account the environmental and social impacts of its transactions.

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MetLife Foundation proudly announces its third year as sponsor of Multipliers of Prosperity, an award winning custom content hub led by WSJ. Custom Studios that helps raise awareness about the challenges and opportunities in the realm of financial inclusion.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170404005313/en/

According to the World Bank’s Global Findex*, there are over two billion people globally, one third of whom are based in Asia, who lack access to basic financial tools such as bank accounts, credit and insurance. Low income people who lack financial services often resort to using informal methods which are significantly more expensive, less secure and less likely to assist low income households build better lives for themselves.

Multipliers of Prosperity provides an in-depth look at the world of financial inclusion and introduces the reader to innovative organizations who are making breakthroughs and are making a positive difference. The hub shares insights and chronicles the triumphs of people who have taken steps towards financial stability and the providers who have helped them reach their goals.

“Improving the financial health of low and moderate income individuals so they can secure a better financial future is a key component of the Foundation’s work,” said Chris Townsend, President, Asia, MetLife, Inc., and MetLife Foundation Board Member. “The steady rise of fintech solutions that address the needs of this underserved population is encouraging.”

Dennis White, President & CEO of MetLife Foundation, added, “MetLife Foundation is partnering with a number of organizations around the world to provide individuals and communities with the tools they need to achieve sustainable financial well-being. Multipliers of Prosperity is an excellent way to put a spotlight on financial inclusion, and to share the ongoing work being done by our partners.”

Over the next five months, Multipliers of Prosperity will feature a mix of videos, articles, original photography and interactive storytelling. This includes a four-part video series showcasing organizations making a significant impact on individuals and communities in Asia and around the world, including Bankable Frontiers Associates and Sajida in Bangladesh who are creating mobile phone based solutions to suit their busy clients’ needs, and Common Cents Lab, a financial research lab, in the United States which is using a deep understanding of behavioral economics to design products and services that facilitate use and encourage success.

In 2016, Multipliers of Prosperity added Chinese, Japanese, and Korean language options to the content hub. The hub received over 430,000 page views and had over 500,000 unique viewers on SnapChat with the video content viewed over 1.5 million times. The short film, “a Dispatch from India” which highlighted the work of Ujjivan, a microfinance institution and partner of MetLife Foundation in India, won three Telly Awards. To date, the campaign has promoted a significant increase in public awareness on the topic of financial inclusion delivering more than 20 million digital and print impressions.

MetLife Foundation is also the sponsor of The Financial Inclusion Challenge 2017 for the third year. The competition is led and managed by The Wall Street Journal and runs through to March 15, 2017. Finalists will be invited to attend a live event on June 7 in Hong Kong where the winner will be selected. Finalists will be considered for grant funding from MetLife Foundation.

To learn more about and how to participate in “The Financial Inclusion Challenge 2017,” please visit: http://financingthefuture.wsj.com/financialinclusion.html .

About MetLife Foundation

MetLife Foundation was created in 1976 to continue MetLife’s long tradition of corporate contributions and community involvement. Since its creation, MetLife Foundation has provided more than $744 million in grants and $70 million in program-related investments to organizations addressing issues that have a positive impact in their communities. Today, the Foundation is dedicated to advancing financial inclusion, committing $200 million to accelerate progress globally.

Together with our partners, we have now helped 1.5 million people in 30 countries gain access to financial products, services, and institutions that they need to build better and more secure lives.

To learn more about MetLife Foundation and financial inclusion visit multipliersofprosperity.com.

*World Bank Findex 2014

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Triton Aviation Finance, a Delaware statutory trust (“TAF”), announced today that it is evaluating its strategic alternatives. TAF has engaged Latham & Watkins LLP as legal counsel to assist with this evaluation. These options include, among other things, a liquidation and distribution of TAF’s remaining assets pursuant to an equitable proceeding under state law. While TAF considers these and other alternatives, it expects to continue to make interest payments on the Subclass A-1 notes as required by the Trust Indenture, dated as of June 22, 2000 (as supplemented by that certain Indenture Supplement, dated as of November 30, 2001, that certain Second Indenture Supplement, dated as of September 27, 2012, and that certain Third Indenture Supplement, dated as of September 30, 2013, the “Indenture”), among TAF, as the issuer, TAL2 LLC, a Delaware limited liability company, in its capacity as cash manager, and Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), as Trustee. However, TAF does not expect, after giving effect to required payments of expenses and establishment of reserves, to have funds available for principal distributions outside of a formal resolution. TAF is considering all of its options at this time.

Any questions may be directed to TAF at (415) 795-2085 or rbrinkman@t-aviation.com.

____________

Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements are based on management’s current expectations of future events and involve substantial risks and uncertainties, many of which are outside of TAF’s control, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. In particular, no assurance can be made that TAF will engage in a formal process in the near term, or take any action at all. TAF is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise. You should not place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by law, TAF does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the three months ended 31 March 2017.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170411005955/en/

QNB Head office in Doha Qatar (Photo: ME NewsWire)

For the three months ended 31 March 2017, Net Profit reached QAR3.2 billion (USD0.9 billion), up by 12% compared to previous year, delivering a consistently high profitability.

Total assets increased by 35% from March 2016 to reach QAR743 billion (USD204 billion). This was driven by a growth rate of 33% in loans and advances to reach QAR536 billion (USD147 billion). QNB Group was successful in attracting new customer deposits to comply with the cap on loans to deposit ratio of 100% set by QCB, which is effective from the end of 2017. These deposit mobilisation efforts resulted in increased customer funding by 34% to reach QAR541 billion (USD149 billion) from March 2016. This led to the Group’s loan to deposit ratio reaching 99%.

The Group’s prudent cost control policy and strong revenue generating capability allowed it to maintain an efficiency ratio (cost to income ratio) of 28.9%, which is considered one of the best ratios among financial institutions in the region.

QNB Group was able to maintain the ratio of non-performing loans to gross loans at 1.8% and coverage ratio at 114% as at 31 March 2017, a level considered one of the best amongst financial institutions in the MEA region, reflecting the high quality of the Group’s loan book and the effective management of credit risk.

Total Equity increased by 17% from March 2016 to reach QAR71 billion (USD20 billion) as at 31 March 2017. Earnings per Share reached QAR3.5 (USD 1.0), compared to QAR3.1 (USD 0.9) in March 2016.

Capital Adequacy Ratio (CAR) calculated as per the QCB and Basel III requirements stood at 15.7% as at 31 March 2017, higher than the regulatory minimum requirements of the Qatar Central Bank and Basel Committee. The Group is keen to maintain a strong capitalisation in order to support future strategic plans.

In March 2017, QNB launched its operations in the Saudi capital, Riyadh. This branch is a significant milestone in QNB Group’s strategy of international expansion.

Based on the Group’s continuous stellar performance and its diversified international presence, QNB is now the most valuable banking brand in the MEA region, with the value of its brand increased to USD3.8 billion to rise to the 60th place globally, in addition to attaining the highest rating of AA+ in brand strength.

QNB Group is present, through its subsidiaries and associate companies, in more than 30 countries and 3 continents providing a comprehensive range of products and services. The total number of staff for the Group is more than 28,000 operating from 1,250 locations and 4,300 ATMs serving more than 21 million customers.

*Source: ME NewsWire

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Kyriba Corp., the global leader in cloud-based treasury, cash, risk and payment management solutions, today announced India’s largest private sector bank named Kyriba the most Innovative Fintech Vendor in India at the Fintech Valley Vizag Spring Conference managed by KPMG International Cooperative (“KPMG International”).

“Kyriba has strengthened its financial solutions with more than 22% invested in R&D, focusing on the customer experience and security in payments, among other key risk management modules,” said Jean-Luc Robert, Chairman and CEO, Kyriba. “We have delivered consistent year-over-year growth, and some of the world’s most reputable banks invest in our vision to be the leader in SaaS solutions.”

Kyriba was shortlisted as one of the top seven contenders after the first round of an RFP evaluation of 100 vendors. After being invited on-stage to demonstrate how multinational banks have transformed their payments landscape using Kyriba’s award winning cloud-based solution, Kyriba won the category inclusive of the following criteria:

• New and innovative solutions around Payments and Remittances spanning across Retail Banking, Corporate Banking and Treasury and that surpass existing solutions in the market.
• Payments and Remittances: Develop solutions leveraging the opportunities of digital payments, transfers, remittances by the use of emerging technologies to make payments more seamless, secure and convenient.

Kyriba won the award based on its Payments module, and the win was reinforced by having representation in India from Protiviti, a local channel partner.

Congratulating Kyriba on winning the award, Kalyan Raman, Managing Director – Technology Consulting Practice in Protiviti Member Firm in Middle East and India said, “We at Protiviti always bring to our Clients the best of practices in digital advisory, technology and solutions. We work closely with our Technology Partners globally, such as our Channel Partner Kyriba, to bring cutting-edge solutions to our clients to help them face their business challenges with confidence. We are glad to be part of this important win in India, which is a testimony to Kyriba and its innovative financial technology solutions.”

“Kyriba delivers a world class product that is transformative for banks and financial professionals, which is why our rapidly growing partner ecosystem invests in their future with confidence in their success,” said Karthik Manimozhi, EVP Worldwide Alliances and Channel Sales, Kyriba. “Kyriba has an exceptional presence around the world, and now an even stronger presence in India. With recognition from the largest bank in India, and a massively energized Channel Partner, Protiviti, we have an exciting road ahead.”

To learn more about Kyriba PartnerSURGE or joining our partner program, contact us at treasury@kyriba.com.

About Kyriba Corp.

Kyriba is the global leader in cloud-based treasury, cash and risk management solutions, delivering Software-as-a-Service (SaaS) financial technology to corporate CFOs and Treasurers. More than 1,500 global organizations use Kyriba to enhance their global cash visibility, improve financial controls, and increase productivity across their cash and liquidity, payments, supply chain finance and risk management operations. Kyriba is headquartered in New York, with offices in San Diego, Paris, London, Tokyo, Singapore, Dubai, Hong Kong, Shanghai and Rio de Janeiro.

To learn how your organization can increase the strategic function of its financial professionals, contact us at treasury@kyriba.com.

Engage with Kyriba
 

• Like Kyriba on Facebook: www.facebook.com/kyribacorp
• Follow Kyriba on LinkedIn: www.linkedin.com/company/kyriba-corporation
• Follow Kyriba on Twitter: www.twitter.com/kyribacorp
• Read Kyriba’s blog: www.kyriba.com/blog

About Protiviti

Protiviti delivers deep expertise, objective insights, a tailored approach and unparalleled collaboration to help leaders face the future with confidence. Our consulting solutions span critical business problems in technology, business process, analytics, risk, compliance, transactions and internal audit. We are committed to attracting and developing a diverse workforce of professionals that share the common value of collaboration. As an organization, we believe that by teaming together, with each other, and our clients, we can see beyond the surface of changes and problems organizations face in this fast changing world to discover opportunities others might miss and face the future with greater confidence.

Our more than 4,500 people serve clients through the network of Protiviti and independently owned Member Firms in more than 70 offices in over 20 countries. Our people and organization have consistently been recognized by FORTUNE and Consulting Magazine as a best company to work for. We have served over 60% of FORTUNE 1000® companies and 35% of FORTUNE Global 500® companies. In India, Protiviti’s member firm (Protiviti India Member Private Ltd.) is a leading provider of business consulting, internal audit, risk management, technology, tax and regulatory, financial reporting and IFRS advisory, forensic and fraud investigation, information management and transaction services. Protiviti member firms are separate and independent legal entities, are not agents of other firms in the Protiviti network, and have no authority to obligate or bind other firms in the Protiviti network.

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