The week has ended in a bank run caused by the SVB's "classic balance sheet restructuring" actions. Some are asking, "who is next?"
Could AI have prevented the SVB crisis? Maybe not completely, but consumer sentiment analysis could have dramatically reduced its impact.
The fintech news this week was dominated by the demise of Silicon Valley Bank, a fast moving story that took less than 48 hours to unravel.
American Banker takes a close look at how APIs are being used at some of the world’s leading banks and...
In this conversation, we chat with Chris Dean, who is the Founder & CEO at Treasury Prime. Previously, Chris was the CTO & VP of Engineering at Standard Treasury, which was acquired by Silicon Valley Bank for an undisclosed amount.
More specifically, we discuss all things banking-as-a-service, FinTech APIs, embedded finance, and the general evolution of the FinTech banking industry over the last decade.
Arc were one of the self described first responders of the SVB crisis. They have now launched gold to help startups easily diversify risk.
Silicon Valley Bank has a joint venture partnership with Shanghai Development Bank Co. Ltd; the partnership led the bank to open its first Chinese branch in Shanghai in 2012 and the firm has now announced their second location in Beijing; the banking branch in Beijing has 14 employees and will offer services for companies in technology, private equity and venture capital which are a key focus for Silicon Valley Bank globally. Source
We will be live-updating the Silicon Valley Bank crisis story as new developments emerge through the weekend.
BBVA Compass, Capital One, Silicon Valley Bank, Citi, CBW Bank are some of the early adopters of open APIs that are beginning to transform how banking operates; the big question is how open will banking become and will it be mandated by legislation or will banks work with only those they trust; the one thing all banks are starting to do is make bigger investments into digital products, whether through partnerships or development as they see that the old way of banking will not survive. Source.
Making news this week were First Citizens Bank, Early Warning (Paze), Apple, big banks vs small banks, the FDIC, venture capital, Binance, HM Treasury and more.