Could AI have prevented the SVB crisis? Maybe not completely, but consumer sentiment analysis could have dramatically reduced its impact.
Making news in fintech this week was the former Silicon Valley Bank CEO, Microsoft, Goldman Sachs, OpenAI, Nubank, Truist,. Jack Henry, FedNow, Ripple, Dave and more.
·
Regulators' seizure of the ailing First Republic comes as no surprise after a week of speculation. JP Morgan wins the bid to acquire.
The VC and startup community are tentatively settling into an optimistic action plan after SVBs failure. SVB Capital is still on the table.
·
The experience of this past weekend highlights a type of business continuity risk that managers of FBO accounts should stop to consider.
The Silicon Valley Bank collapse highlighted the importance of a little-discussed but key feature of healthy banks and fintechs - backup servicing.
·
Senate Committee remained unconvinced by Greg Becker's apology citing multiple warnings and increased paychecks as risks mounted.
The Silicon Valley Bank (SVB) collapse will improve financial system health if it moves systems towards decentralized finance (DeFi). That pulls them away from the single points of failure that caused the most damage over the past few weeks, Paystand CEO Jeremy Almond said.
First Citizens Bank has acquired part of the failed SVB, announced the FDIC yesterday.
Following the SVB crisis, already precarious Credit Suisse has struggled to hold the confidence of investors. UBS has agreed to acquire.