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.

Risk Management 221

Risk Management Management Community Bank Community 221

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.

Payments 195

Payments 195

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 98

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Payments Dive

MARCH 13, 2023

The merchants explained how the SVB situation had affected their sales, online commerce, payments and finances.

Branding 195

Branding Retail Online Payments 195

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.

Software 64

Software Groups Company 64

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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US Policies Regulation System 75

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.

Examples 52

Examples Fintech Industry 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 75

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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.

Fintech 52

Fintech Regulation Marketing 52

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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US Operations 75

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.

Marketing 65

Marketing Report 65

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

Regulation 70

Regulation Marketing Technology 70

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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.

America 36

America Technology Payments 36

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

US 70

US Capital Technology Management 70

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.

Operations 36

Operations Report 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

Payments 70

Payments 70

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Lending

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.

Cards 36

Cards Payments Mobile 36

TheGuardian

MARCH 13, 2023

Sale of SVB’s British subsidiary to HSBC is a satisfactory fix but Fed emerges with less of a worthy halo Live coverage of Silicon Valley Bank collapse Why did it collapse and is this the start of a banking crisis? Comment: SVB’s failure is predictable – what can it teach us? The good news is that it took only a long weekend to find a fix – a good one – for the UK end of the doomed Silicon Valley Bank.

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US Regulation 67

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.

Industry 36

Industry Company 36

TheGuardian

MARCH 13, 2023

Some traders are even pricing in a cash rate cut in Australia later this year, a position that had little support just a week ago Follow our Australia news live blog for the latest updates Get our morning and afternoon news emails , free app or daily news podcast Bets are rising that Australia’s record run of rate rises is about to end, as fears triggered by the collapse of Silicon Valley Bank sweep global markets and sink bank stocks.

Marketing 66

Marketing 66

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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.

Lending

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.

US 36

US Marketing 36

TheGuardian

MARCH 13, 2023

Rescue of Silicon Valley Bank’s British arm followed fears sector would be plunged into crisis HSBC to buy Silicon Valley Bank UK for £1 in rescue deal SVB: global banking shares slide as fallout spreads Nils Pratley: relief in the UK over SVB. Panic in the US UK tech firms breathed a collective sigh of relief on Monday after a rescue of Silicon Valley Bank’s British arm was announced, amid fears that failure to broker a deal would have plunged the industry into an immediate crisis.

Groups 60

Groups Industry US Operations 60

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

TheGuardian

MARCH 13, 2023

We’re interested to hear how affected SVB investors and workers in the tech and start-up sector view the bank failure and what the wider implications might be We’re keen to hear from investors who have been affected by the collapse of Silicon Valley Bank , which failed after a run on the lender that was originally sparked by fears over the a multibillion-pound shortfall on the US parent company’s balance sheet.

US 56

US Technology 56

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