Payments Dive

MARCH 13, 2023

As the banking crisis spread, payments players, such as FIS, and venture-backed firms, including Payoneer, were caught in the contagion.

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Payments 486

South State Correspondent

MARCH 13, 2023

The abrupt collapse of Silicon Valley Bank (SVB) is a stunning example of bank leadership not understanding interest rate risk, running into trouble with an inverted yield curve, and ignoring the impact of a severe monetary correction on long-duration assets. There will be much more discussion and information written on this bank’s collapse, as well as the shutdown of Signature Bank and the story about Sterling Bank, and perhaps others in the weeks and months to follow.

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Risk Management Management Community Bank Community 221

Abrigo

MARCH 13, 2023

Stress testing & deposit strategies in the spotlight The failure of Silicon Valley Bank offers other financial institutions the chance to reassess their approaches to and management of interest rate risk, liquidity risk, and credit risk. You might also like this whitepaper, "Inflation and rising rate's impacts on earnings and margins." DOWNLOAD Takeaway 1 Silicon Valley Bank's failure is a stark reminder for other financial institutions that when a crisis occurs, it can spread rapidly.

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Payments Dive

MARCH 13, 2023

In a world where merchants expect fast and easy payments, the time required for ISOs and ISVs to complete arduous technical onboarding processes can cost sales and damage reputations.

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Payments 195

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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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ATM Marketplace

MARCH 13, 2023

The self-serve kiosk industry pushed forward in a big way in 2022, as the recovery from the pandemic continued for the second straight year. A convergence of factors took hold: rising consumer acceptance of self service, a recovering supply chain, a growing labor shortage, improving technology, and the return of industry trade shows.

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Report Industry Technology 103

TheGuardian

MARCH 13, 2023

Silicon Valley Bank UK has been sold to HSBC for £1 , in a deal that protects depositors’ money says Treasury and Bank of England Full story: HSBC to buy Silicon Valley Bank’s UK operations Why Silicon Valley Bank was so important to UK tech sector Here’s Sky’s Ed Conway: Important developments. Continue reading.

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The Paypers

MARCH 13, 2023

Lloyds Banking Group has invested GBP 10 million into digital ID company Yoti to develop its app-based identity verification software, which is launching later in 2023.

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Software Groups Company 64

TheGuardian

MARCH 13, 2023

Financial deregulation lead to the crash in 2008 and it could again in 2023. It’s time to make banking boring again On Friday, bank regulators closed Silicon Valley Bank, based in Santa Clara, California. Its failure was the second largest in US history and the largest since the financial crisis of 2008. Will other banks fail? On Sunday, regulators closed New York-based Signature Bank.

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BankInovation

MARCH 13, 2023

The collapse of Silicon Valley Bank is having a trickle-down effect on fintechs and banks within the financial services industry, but Cross River Bank is not one— in fact, the bank is swooping in to capture business amid the fall of its competitors. For example, the $9.2 billion Ft. Lee, N.J.

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Examples Fintech Industry 52

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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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TheGuardian

MARCH 13, 2023

The collapse of SVB highlights deep failures in the conduct of regulatory and monetary policy Live coverage of Silicon Valley Bank collapse Global banking shares slide as SVB fallout spreads Why did it collapse and is this the start of a banking crisis? The run on Silicon Valley Bank – on which almost half of all venture-backed tech startups in the US depend – is in part a rerun of a familiar story, but it’s more than that.

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BankInovation

MARCH 13, 2023

Signature Bank followed in Silicon Valley Bank’s footsteps Sunday when regulators overtook the spiraling financial institution. Today, First Republic Bank is drawing attention as its shares take a dive. At 2:30 p.m. ET Monday, First Republic Bank’s shares sat at $41.46, down 50% from market open.

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Fintech Regulation Marketing 52

TheGuardian

MARCH 13, 2023

Analysts say US Federal Reserve will probably reject further increase in borrowing costs next week Live coverage of Silicon Valley Bank collapse Why did it collapse and is this the start of a banking crisis? Why Silicon Valley Bank was so important to UK tech sector The world’s most powerful central banks could be forced to stop raising interest rates after the Silicon Valley Bank crisis, economists have said, amid growing signs of financial stress linked to rapid increases in borrowing costs ov

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California US Technology Marketing 71

The Banker

MARCH 13, 2023

FATF’s greylisting of Africa’s two biggest economies will deepen existing economic troubles in both markets. James King reports.

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Marketing Report 65

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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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TheGuardian

MARCH 13, 2023

Stock markets fail to be reassured by Joe Biden’s intervention, as SVB failure is followed by Signature Live coverage of Silicon Valley Bank collapse Why did it collapse and is this the start of a banking crisis? Why Silicon Valley Bank was so important to UK tech sector Markets on both sides of the Atlantic failed to be reassured on Monday by government intervention as the fallout from the rapid collapse of Silicon Valley Bank prompted a heavy sell-off of bank shares.

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Marketing System US Technology 71

The Paypers

MARCH 13, 2023

Payments orchestration platform APEXX Global has closed its Series B funding round with USD 25 million raised to expand in North America and develop its products and technology.

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America Technology Payments 36

TheGuardian

MARCH 13, 2023

Proposed class-action lawsuit claims bank failed to reveal how rising interest rates made it ‘particularly susceptible’ to failure SVB Financial Group and two top executives have been sued by shareholders over the collapse of Silicon Valley Bank, as global stocks continued to suffer on Tuesday despite assurances from US president Joe Biden. The bank’s shareholders accuse SVB Financial Group chief executive Greg Becker and chief financial officer Daniel Beck of concealing how rising interest rate

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Company Marketing Groups US 71

The Banker

MARCH 13, 2023

As the prospect of selling their operations in Russia becomes increasingly challenging, should European banks walk away from their Russian operations or wait it out? Anita Hawser reports.

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Operations Report 36

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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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TheGuardian

MARCH 13, 2023

Takeover, arranged by government, likely to save British startups from big losses after US bank’s collapse Live coverage of Silicon Valley Bank collapse Why did it collapse and is this the start of a banking crisis? Why Silicon Valley Bank was so important to UK tech sector The government has struck a last-minute deal for HSBC to buy Silicon Valley Bank’s UK operations, saving thousands of British tech startups and investors from big losses after the biggest bank failure since 2008.

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The Paypers

MARCH 13, 2023

The Central bank of Egypt (CBE) has approved the rules for payment card service codes, allowing contactless transactions via mobile apps within the framework of the NPC.

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Cards Payments Mobile 36

TheGuardian

MARCH 13, 2023

A small army worked through the weekend to ensure 3,500 UK customers – largely tech firms – still had cash on Monday From the moment Silicon Valley Bank collapsed on Friday afternoon, banking regulators knew they had just two days to shore up confidence and prevent contagion spilling over in the UK. In offices, spare bedrooms and kitchens across the UK, it was all hands to virtual battle stations as a small army worked through the weekend and well into the early hours of Monday morning to try to

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Regulation Marketing Technology 59

The Paypers

MARCH 13, 2023

Identity solutions company HID has signed a memorandum of understanding (MoU) with iPassport to launch an identity verification solution for the transportation industry.

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Industry Company 36

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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

Compliance

TheGuardian

MARCH 13, 2023

In the US, the Federal Reserve has stepped in to guarantee deposits. The tech sector should realise it can’t go it alone Silicon Valley Bank (SVB) became one of the 20 largest banks in the US by being the darling of west coast tech startups, but it transpires that it expanded at the expense of managing its exposure to risk. The bank provided services to more than 2,500 venture capital firms (VCs) – companies that invest in startups with the hope that they’ll achieve long-term growth – and nearly

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The Paypers

MARCH 13, 2023

Ireland-based identity verification solution provider for SMEs and enterprises ID-Pal has announced its expansion into the US market, backed by Enterprise Ireland.

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US Marketing 36

TheGuardian

MARCH 13, 2023

Former staff voice concern after scheme’s assets plunge in value by £10bn in a year Barclays could save itself more than £200m a year after deciding to take a break from paying into its staff pension scheme, despite the fund’s assets plummeting by £10bn in 12 months. Barclays last month declared profits of £7bn for 2022, but its “contribution holiday” means the cost of the payments it would normally make towards former employees’ retirement benefits will now have to be met by the pension scheme

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Payments 58

The Paypers

MARCH 13, 2023

HSBC has acquired the UK arm of Silicon Valley Bank , securing the deposits of thousands of British tech firms that hold money at the lender, amid the US collapse.

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US Security 36

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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

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