Category: Trade & Industry

The collapse of Silicon Valley Bank presents an innovation opportunity for fintechs in treasury management as more bank clients look to multibank strategies to ensure security in their capital. For example, as companies look to diversify their balance sheets for risk management purposes, they’ll need a snapshot of all of their accounts in one place.…

It’s 2023, and technologies like machine learning, robotic process automation, natural language processing and artificial intelligence are fast becoming ubiquitous in both customer-facing and back-office digital infrastructure, bringing financial institutions a wealth of opportunities to leverage automation across the business. Bucky Porter, financial services industry analyst, Windstream Enterprise As these technologies and the automation capabilities…

Over the course of a single week we witnessed, in quick succession, the collapse of three of the most crypto-friendly banks in the U.S. – Silvergate, Silicon Valley Bank (SVB) and Signature. The failure of SVB represented the largest bank failure since the 2008 financial crisis. While U.S. regulators swiftly stepped in to guarantee deposits…

Envestnet is rushing to release a product Monday that is designed to help financial institutions avoid a “Silicon Valley Bank situation.”  The wealth tech giant’s new Bank Deposit Index will allow bank treasury executives to track inflows or outflows of deposits and segment them by “big, regional or small banks,” as well as consumer segments…

PhonePe raised $200 million from Walmart. With this latest tranche, the India-based company maintains its $12 billion valuation. The new investment brings PhonePe’s total funding to $650 million. Just one month after raising $100 million, India-based PhonePe announced it closed a $200 million investment. With the new round, PhonePe’s pre-money valuation remains flat at $12…

LONDON — Morgan Stanley is changing the way it looks at inclusivity and diversity in financial services through its Inclusive Ventures Lab.  “We have been working on thinking about the equity in this space,” said Sanghamitra Karra, EMEA head of multicultural client strategy and multicultural innovation lab at venture capital group Morgan Stanley, Wednesday at…

Discover Financial Services is democratizing its technology by allowing engineers and outside developers to share their knowledge in a newly launched platform.  The platform, Discover Technology Experience, allows developers to share ideas and work on technologies such as robotic process automation (RPA). Its aim is to attract engineers to work for Discover, Angel Diaz, leader…

Stripe received $6.5 billion in Series I funding, along with an updated valuation of $50 billion. The $50 billion valuation is almost half of the company’s peak valuation of $95 billion received in 2021. Today’s investment will not be used to fuel company growth, but will instead be used to provide liquidity to employees and…

Banking is going digital fast–and you need to figure out how to compete with digital-first fintech challengers. Here’s what you need to know to stay competitive. In the following interview, Michael Haney, Head of Digital Core for Technisys, discusses the evolution of banking’s digital transformation and how banks can retain market share amid stiff competition…