Digital-First Banking

Digital-First Banking
Bank Customers Help Guide Transition to Digital-Everywhere Banking
March 23, 2023

Digital banks are gaining market share, especially among small business owners, freelancers and millennial customers. Increased security and the latest innovative features appeal to many favoring digital banking, but many, particularly older customers, still make good use of FIs’ physical locations. Mobile is surely the...

Digital-First Banking
Silicon Valley Bank Collapse: A Banking Drama in Three Acts
March 20, 2023

Amias Gerety, partner at FinTech VC firm QED Investors, watched the collapse of Silicon Valley Bank just like the rest of us. His assessment of what really happened, and where we go from here, is shaped by a perspective few of us have. In 2010,...

Digital-First Banking
Report: First Republic Could Get Rescue From Banking Giants
March 16, 2023

America’s largest lenders are reportedly considering a plan to rescue the embattled First Republic Bank. JPMorgan Chase, Bank of America and Wells Fargo are working together to offer a capital infusion to the struggling bank, the Wall Street Journal (WSJ) reported Thursday (March 15), citing unnamed sources. Meanwhile, a separate WSJ story Thursday says...

Digital-First Banking
Helios Investment Partners Reportedly Offering Stake in Crown Agents Bank
March 15, 2023

A stake in Crown Agents Bank may be up for sale. Private equity investor Helios Investment Partners is working to sell a stake in the provider of cross-border payments, Reuters reported Wednesday (March 15), citing unnamed sources. Helios Investment Partners and Crown Agents Bank did not immediately reply to PYMNTS’ request...

Digital-First Banking
Treasury Prime Launches Multibank Network to Diversify FinTech Banking Risk
March 15, 2023

If the past week has taught us anything, it’s not to put all your eggs in one banking basket. That’s especially true for FinTechs and tech startups, the backbone of innovation within financial services.   Many of them are scrambling to find new financial services providers....

Digital-First Banking
Sezzle CEO Sees Sharpened FinTech Focus on Bank Stability Post-SVB
March 15, 2023

“Last weekend felt like the wild, wild West,” Charlie Youakim, CEO of payments startup and B Corp Sezzle, told PYMNTS CEO Karen Webster in a recent conversation. “SVB had been around forever, they had a great brand. [Its collapse} is a big shock to me,” he...

Digital-First Banking
SVB and Signature Bank Passed KPMG Audits Days Before Collapses 
March 14, 2023

When it comes to banking, compliance is king. That makes proper accounting and internal controls queen, at the very least. This, as the collapse of Silicon Valley Bank (SVB) last week and Signature Bank over the weekend, comes just a handful of days after big-four accountant KPMG LLP reportedly gave both...

Digital-First Banking
Ingo Money CEO on SVB’s Collapse and the Importance of Avoiding Single Points of Failure 
March 14, 2023

A lot of money is moving this week, but not in a good way. In the five days since last Wednesday (March 8), three US banks have failed partly because of customer runs on their deposit bases — two crypto-servicing institutions, Signature Bank and Silvergate Bank, and one historical...

Digital-First Banking
First Republic Bank Says It’s Seeing ‘Business as Usual’
March 13, 2023

First Republic Bank is reportedly seeing “business as usual” after bank failures of recent days. CNBC reported Monday (March 13) that First Republic Bank Executive Chairman Jim Herbert told the network’s Jim Cramer that the bank was meeting withdrawal demands with the help of additional funding, was not...