When Silicon Valley Bank failed, fraudsters pounced
As customers rushed to withdraw their deposits from the bank and applied for accounts at other institutions, criminals took advantage of the chaos.
Source: americanbanker.com
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Top News In Ab Technology Today - Breaking & Trending Today
'There's an opportunity now to refresh and rethink risk management'
Sumeet Chabria, founder and CEO of advisory firm Thoughtlinks and a former tech executive at Bank of America, explains some of the technology changes every bank should be making to ensure it's not the next victim of a bank run.
Source: americanbanker.com
Appetite for expanded FDIC insurance is strong. Will it last?
IntraFi, R&T Deposit Solutions and other companies help banks capture and insure the entirety of their customers' balances — a cogent need in the aftermath of SVB.
Source: americanbanker.com
Banking crisis widens startups' geographic innovation gap
Fintechs were already clustered in New York and San Francisco. Now that most startups work with the four largest banks, it's even harder to create new technology in the heartland.
Source: americanbanker.com
Climate-focused neobank Aspiration to lay off 180 employees
The layoffs come as the fintech is still working to close the SPAC merger it announced in August 2021.
Source: americanbanker.com