Category: Doing Business Overseas

Raisin has appointed Cetin Duransoy as CEO of the company’s U.S. division, SaveBetter by Raisin. Duransoy comes to Raisin from Fundbox, where he served as President and COO. Today’s announcement follows Raisin’s $64.7 million capital raise in March of this year. Savings and investment product marketplace Raisin has appointed a new CEO for its U.S.…

Fintech accelerator Expert Dojo, a former client of Silicon Valley Bank, moved some of its deposits to First Republic Bank in March to strengthen the bank’s deposits and help avoid a similar fate to SVB — which was ultimately unsuccessful.  In the blog “Taking a Stand for Regional Banks: Expert Dojo Will Be Depositing Money…

JPMorgan Chase acquired First Republic Bank this morning after regulators stepped in over the weekend to facilitate the sale of the struggling bank — and is prepared to spend $2 billion integrating First Republic into its platform over the next 18 months. “Over time, we will be converting First Republic’s operations and platforms to Chase…

May is Asian-American/Pacific Islander Heritage Month. May is also the month that brings Finovate back to San Francisco for our annual spring fintech conference, FinovateSpring. To this end – and to officially launch our Asian-American Month Commemoration – we’re highlighting the women and men of Asian-American heritage who will be taking the stage at FinovateSpring…

JPMorgan Chase & Co. agreed to acquire First Republic Bank in a government-led deal for the failed lender, putting to rest one of the biggest troubled banks remaining after turmoil engulfed the industry in March. The transaction, announced in the early morning hours Monday after First Republic was seized by regulators, makes the biggest US…

We see founders from across all fintech sectors at every Finovate event, and FinovateEurope 2023 was no different. At last month’s event, we gave five fintech founders a microphone to answer five questions. In the four-minute video below, you’ll hear from Katalin Kauzli, Co-Founder and Business Development Director of Partner Hub; Gonzalo de la Peña,…

First Republic Bank shares fell as much as 54% in extended New York trading on speculation that it would be seized by regulators, as regional US lenders are pressured by deposit drains and weakening investments. Regulators were poised to place the San Francisco-based lender into receivership, Reuters reported late Friday, citing a person it didn’t…

As Financial Literacy Month draws to a close, we reached out to Parker Graham, founder and CEO of Finotta. We wanted to hear his thoughts on what it means to be financially literate at a time of major digital transformation and technological change – both in financial services and in the world writ large. Finotta…

Amazon Web Services customers looked to cost savings within their cloud spending amid economic turbulence in the first quarter. “Our AWS sales and support teams continue to spend much of their time helping customers optimize their AWS spend so that they can better weather this uncertain economy,” Chief Financial Officer Brian Olsavsky said Thursday during…

Silicon Valley Bank and federal regulators alike let poor management slide for several years — leading to the largest banking failure since 2008. SVB lacked board effectiveness, risk management and internal audits within its operations, and had 31 outstanding supervisory warnings when the bank collapsed in March. Similarly, the Fed failed to follow up on…