Sun.Mar 12, 2023

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Silicon Valley Bank: why did it collapse and is this the start of a banking crisis?

TheGuardian

Until last Friday Silicon Valley Bank was the 16th largest bank in the US, worth more than $200bn Four decades ago, Silicon Valley Bank (SVB) was born in the heart of a region known for its technological prowess and savvy decision making. The California-headquartered organisation grew to become the 16th largest bank in the US, catering for the financial needs of technology companies around the world, before a series of ill-fated investment decisions led to its collapse.

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Reducing Payment Fraud Through Modernization

BankInovation

Payment fraud continues to plague the financial services industry. According to the American Bankers Association, fraud against bank deposit accounts totaled $25.1 billion in 2018[1]. In 2022, eight U.S. Senators sent letters to the CEOs of seven of the largest U.S. banks concerning fraud at one real-time payment firm.

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Yellen says Silicon Valley Bank won’t receive bailout after collapse

TheGuardian

US treasury secretary says Biden administration is working closely with regulators to help depositors as fears of banking crisis rise The US treasury secretary, Janet Yellen, said on Sunday there will be no bailout for Silicon Valley Bank, which collapsed this week, raising fears of a banking crisis, but also said the Biden administration was working closely with regulators to help depositors hit by the fall of SVB.

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Silicon Valley Bank's 'old-fashioned' failure highlights lingering risks

American Banker

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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UK working on cash lifeline for tech firms hit by Silicon Valley Bank collapse

TheGuardian

Jeremy Hunt announces move after meetings with Rishi Sunak and Bank of England governor over ‘high priority’ issue The UK government is drawing up plans for an emergency cash lifeline for tech firms hit by the collapse of Silicon Valley Bank UK (SVB UK), as the chancellor warned the sector was at “serious risk”. Jeremy Hunt said the issue was a “high priority” for the government, and that he had been locked in late-night meetings with the prime minister, Rishi Sunak, and the Bank of England gove

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Why Silicon Valley Bank was so important to UK tech sector

TheGuardian

SVB specialised in high-growth startups, solving problems other lenders would not touch UK racing to secure deal to protect firms from SVB collapse Yellen says SVB won’t receive bailout after collapse Silicon Valley Bank’s name isn’t just hollow branding. Founded in Santa Clara in the 1980s, in the heart of the Bay Area’s tech cluster, it was a regional bank that served the local economy.

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Can the securities industry deliver T+1 in T-minus 15 months?

The Banker

The US SEC has set May 2024 as the implementation date for shortening the standard settlement cycle for US securities transactions, a challenging deadline for the industry to hit. By Marie Kemplay.

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Failure of Silicon Valley Bank May Foreshadow Innovation Crisis

The Financial Brand

This article Failure of Silicon Valley Bank May Foreshadow Innovation Crisis appeared first on The Financial Brand. 50% of U.S. venture-backed startups banked with SVB. Which institutions are ready to fill their special financing needs now? This article Failure of Silicon Valley Bank May Foreshadow Innovation Crisis appeared first on The Financial Brand.

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In abrupt reversal, regulators to cover Silicon Valley Bank, Signature uninsured deposits

American Banker

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The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

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Making Sense of the Silicon Valley and Signature Bank Failures

The Financial Brand

This article Making Sense of the Silicon Valley and Signature Bank Failures appeared first on The Financial Brand. SVB will dominate financial headlines for months. Some painful lessons in maintaining public confidence are going to be learned — again. This article Making Sense of the Silicon Valley and Signature Bank Failures appeared first on The Financial Brand.

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Regulators shut Signature Bank, pick industry veteran to run bridge bank

American Banker

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Timeline & Explainer: How a Historic Week Unfolded for U.S. Banking

The Financial Brand

This article Timeline & Explainer: How a Historic Week Unfolded for U.S. Banking appeared first on The Financial Brand. Silvergate, Silicon Valley and Signature collapsed in less than a week, prompting a new liquidity support program for all banks & credit unions. This article Timeline & Explainer: How a Historic Week Unfolded for U.S. Banking appeared first on The Financial Brand.

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First Republic touts position after boosting Fed, JPMorgan Chase borrowing limits

American Banker

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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Markets at risk of more upheaval as banking uncertainty persists

American Banker

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Fed discusses easing access to discount window to help banks

American Banker

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Regulator takes control of SVB's Canada unit, seeking windup

American Banker

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Liquidity Group plans $3 billion emergency loans to aid start-ups hit by SVB

American Banker

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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US seeks to stymie bank-run risk as Yellen pledges protections

American Banker

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