Silicon Valley Bank is still open for business for fintech companies. In many ways, even though it is now part of First Citizens Bank, it is very similar to what it was before, at least from a fintech perspective.
Welcome back to the Fintech Blueprint / Rebank podcast series hosted by Will Beeson and Lex Sokolin. In this episode, we talk through a few recent events that are indicative of the Fintech world right now. Brex raised an additional $150 million at a slightly improved valuation vs. its last round just as Monzo is reportedly looking at a 40% down round. Why? Shopify launched bank accounts for its merchants and announced the Shop app, basically an Amazon competitor plus Klarna, just as it worked with Facebook to support the launch of Facebook Shops and joined the Libra Association. Lots going on. Lastly, we discuss why Goldman’s M&A activity over the past couple years leads to the natural conclusion that they should buy Schwab.
The British Business Bank (BBB) has approved The Bank of India and Silicon Valley Bank to deliver the Coronavirus Business...
A majority of fintech companies today focus on providing faster and cheaper financial products to already well-served Americans. While this...
Capstack Technologies’ founder and CEO Michal Cieplinski believes he has the antidote to the Silicon Valley Bank meltdown, and Citi Ventures agrees.
Cambridge Bancorp in Massachusetts formed an innovation group in 2016 and is now positioned to compete against bigger banks; head of the innovation Group Scott Chamberlin tells American Banker, “We spent a couple years proving … we could win business externally and, more importantly, internally from a credit standpoint. We’ve proven that out. This is year we start to add scale.”; the bank is looking to be an alternative to the likes of Silicon Valley Bank and Square 1; they see a differentiating characteristic being their local reputation and that they are in it for the long haul. Source.
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.
Could AI have prevented the SVB crisis? Maybe not completely, but consumer sentiment analysis could have dramatically reduced its impact.
The Silicon Valley Bank collapse highlighted the importance of a little-discussed but key feature of healthy banks and fintechs - backup servicing.
This week we sat down with Michele to talk about the outlook for financial institutions an innovation in the wake of the SVB crisis.