The closure of Silicon Valley Bank has impacted startups and venture capital firms. Hundreds of such firms did their banking and kept billions of dollars with the bank, which went under the receivership of the Federal Deposit Insurance Corporation (FDIC) Friday (March 10), The Information reported Friday. That has...
Silicon Valley Bank has collapsed. The regulators have circled the wagons. The damage is contained. Maybe. Maybe just for a day, because who knows what comes next? As Friday’s stock market roller-coaster ride ended, no one could answer that question. The FDIC has done what it...
Silicon Valley Bank has been taken over and closed by a state financial regulator. The California Department of Financial Protection and Innovation (DFPI) took possession of the bank and appointed the Federal Deposit Insurance Corporation (FDIC) as its receiver Friday (March 10), the DFPI said in a Friday press release....
Small banks. Big Impact. The demise this past week of crypto-bank Silvergate and the lingering issues at SVB Financial (Silicon Valley Bank) will likely have far-reaching reverberations for lending — specifically to the tech sector. The specter of bank runs looms and may force smaller,...
In today’s challenging macroclimate, embedded finance solutions are critical to meeting evolving customer preferences. And in today’s macro environment, where maintaining and expanding every customer relationship is increasingly important, meeting customer preferences is critical to business growth and survival. That’s according to Meghan Ryan, CFO at API...
Five years after open banking became a regulatory requirement, the U.K. now claims 7 million active users. That figure, representing less than 20% of the total number of bank account holders in the U.K., poses the question: What can be done to reach critical mass...
For Goldman Sachs, the journey down Main Street now seems like an ill-advised detour. As reported here, the white-shoe investment bank is mulling what’s next for its consumer business — and the words “strategic alternatives” have popped up. In Wall Street speak, that verbiage typically signals there...
More than a million British customers used open banking for the first time in January. The addition of 1.2 million first-time users during the month raised the number of consumers and small and medium-sized businesses (SMBs) using open banking in the United Kingdom above the...
Banking faces a critical juncture. Against a rising tide of inflation and record debt levels, 59% of retail bank customers say they expect help from their financial institutions (FIs) in understanding and managing their financial health. All too often, however, consumers are finding that help lacking. United States retail bank...
