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The Current Banking Crisis – 10 Not So Apparent Lessons

South State Correspondent

Percentage of Uninsured Deposits: At the time of failure, SVB had approximately 88% of their deposits above the FDIC-insured $250k limit and ran at 95% at the end of last year. 9) Brand Matters: SVB had one of the best brands in banking. Higher cash holdings will now be a demarcation of credit quality.

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FDIC Greenlights Mobile-First Fintech Varo Money for Deposit Insurance

The Financial Brand

The post FDIC Greenlights Mobile-First Fintech Varo Money for Deposit Insurance appeared first on The Financial Brand. Fintech's patience paying off as it nears final hurdles, setting stage for major new digital banking competitor.

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Why Payments Diversity Matters As Firms Go Global

PYMNTS

In an interview with PYMNTS, Deirdre Ives, CEO and managing director at Wirecard North America, noted that when it comes to innovation, issuers face challenges in meeting the needs and expectations of a diverse populace of users spanning borders and cultures. FDIC) estimated that 6.5 Another 18.7

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Bitcoin Daily: Blockchain Phone ‘Finney’ To Debut In Dec; AriseBank CEO Handed 120-Year Prison Sentence Over $4M Crypto Scam

PYMNTS

According to The Next Web , Jared Rice defrauded investors out of $4 million after he claimed the company would become the “first decentralized banking platform” — offering FDIC -insured accounts and banking services, as well as Visa -branded credit cards and other cryptocurrency services.

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BBVA On Google, Digital Banking And The Rise Of The ‘Everyday App’

PYMNTS

When the story of the coronavirus is written, when it comes to financial services, the key chapters will focus on the pace at which innovation accelerated — and where a range of players came together to create ecosystems, rather than to simply compete in zero-sum, winner-take-all bids for consumers. Ready For The Digital Shift.

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FDIC Greenlights Mobile-First Fintech Varo Money for Deposit Insurance

The Financial Brand

The post FDIC Greenlights Mobile-First Fintech Varo Money for Deposit Insurance appeared first on The Financial Brand. Fintech's patience paying off as it nears final hurdles, setting stage for major new digital banking competitor.

FDIC 15
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Pandemic Supply Chain Pivots, Cross-Border Conversion, P2P Payments Top This Week’s News

PYMNTS

FDIC: US Banks See Chargebacks Soar, Profits Tank Due To Pandemic. Can Telehealth And Other Innovations Cure America’s Post-Pandemic Medical-Cost Woes? Visa, Facebook Link Up For P2P Payments, eCommerce On WhatsApp. Bank profits in the United States took a 69.6 percent hit for Q1 compared to the same period in 2019.

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