FinTech Weekly - Another 2008? - Issue #407

According to Paul Krugman and Joe Biden, we’re not witnessing the beginning of a new 2008. But we can’t avoid noticing some similarities.

March 16, 2023

The collapse of the Silicon Valley Bank, along with the challenges faced by other banking institutions, are upsetting investors and savers. The domino effect that is hitting financial institutions and economies across the world seems to have no end after the collapse of FTX – and regulators were already more severe after the collapse of the exchange. Are they acting correctly to protect people and businesses? And what about the effects that all this will have on people around the world and on different economies? This number of FinTech Weekly covers all this, but we want to give you all the information you need, so we will go on covering the topic and its consequences. Stay tuned if you want to understand what’s going on!

Panic Mustn't Be Allowed To Spread After SVB Collapse: EU Lawmaker
Panic Mustn't Be Allowed To Spread After SVB Collapse: EU Lawmaker
via CoinDesk

Markus Ferber, leader of the center-right party in the European Parliament, said that regulators should stop the fear spreading after the Silicon Valley Bank collapse. Ferber also said that politicians should rethink the way they argue current rules that put at risk governments such as Italy and Greece.

Fintech World Forum 2023 and Impact Investing Conference 2023
Fintech World Forum 2023 and Impact Investing Conference 2023
via Fintech World Forum

FinTech World Forum 2023 is based in London UK Europe as one of the leading fintech events 2023 for the global financial services, finance, and banking technology industry. Its focuses on Mobile Payments, Lending, Insurance, Blockchain, Bitcoin, Investment, Money, Crypto, Cryptocurrency, Digital, Innovation, Wallet, Pensions, Funds, Payment, Tech, Financial Services, Technology, Bank, Wealth Management, Insurtech, Regtech, and Wealthtech.

Future Branches in Boston
Future Branches in Boston
via WBR Event

What is your branch doing to exceed their expectations and meet the needs of other generations as well? Future Branches is two days of action-packed stories, conversations and connections with the top minds in retail banking. We will explore how leading financial institutions are revamping retail banking technology, retooling front line associates, and creating the branch and retail banking experience of the future. You’ll get actionable strategies to provide personalized high touch experiences for today’s customers. This is THE meeting place to benchmark against the best of the best in financial services.

Banking Opinions Regulation

What's Next for Silicon Valley Bank After It's Historic Collapse?
via Bloomberg

Sally Bakewell discussed what could happen now to the Silicon Valley Bank and said that the bank wanted to initiate a rescue plan but failed to do so. The FDIC stepped in to close the bank. Now Sally can’t help but ask two questions: “What will happen now to the Silicon Valley Bank?” and “How could regulators miss this?”. She then added that they’re not sure on what will happen next, but the bank will probably go into some sort of sale procedure.

Cryptocurrency Regulation

Coinbase Files Amicus Brief in Insider Trading Case: ‘We Need Rulemaking’
via CoinDesk

Coinbase is willing to list securities if given proper guidance from the Securities and Exchange Commission (SEC). Whai, an employee at Coinbase is suspected of leaking information about a new token list on Coinbase, and has become the main person of a civil complaint.

Banking Business Regulation

FDIC Planning Another Silicon Valley Bank Auction
via The Wall Street Journal

Regulators are having some trouble in finding a buyer for the firm over the weekend, after their try in auctioning the Silicon Valley Bank. But according to the Federal Deposit Insurance Corp. (FDIC) they might sell the firm now that the Silicon Valley Bank failure has been declared a threat to the financial system.

Banking Opinions Regulation

Silicon Valley Bank Isn’t Lehman
via The New York Times

The issues the Silicon Valley Bank is facing are not the same as the 2008 crisis. The SVB is not Lehman: according to Paul Krugman, even if the collapse of the bank can result in a systemic risk, the current situation is not like 2008.

Banking Regulation

Biden emphasizes US banking system is safe after Silicon Valley Bank collapse
via CNN politics

On Monday, President of the United States Joe Biden said that the US banking system is safe and is taking action to contain the recent collapse of the Silicon Valley Bank. People will have access to their money. The President also said that people must take action on this issue to prevent it from happening again.

Regulation Security

New plans for a GDPR replacement have divided Britain’s tech sector
via TNW

A new bill presented to the Parliament last week, the Data Protection and Digital Information Bill (DPDIB), will hopefully boost the economic growth of the United Kingdom. People are worried that this new law will put citizens privacy in dange, but the UK Parliament assures that the privacy of the citizens will be safe.

Banking Business

Fintechs Winning Silicon Valley Bank’s Abandoned Customers
via Forbes

The bank of Silicon Valley has come to an end this week and it shocked everyone, even the most experienced and the most expert people in finance. Fintechs, which are not banks, can partner with them and offer diversification and convenience. Basically, they’re winning customers.

Banking Business Regulation

Chinese firms feel limited impact from SVB's failure; experts warn of global risks
via Global Times

Chinese enterprises said that the sudden collapse of the Silicon Valley Bank had a limited impact on them, but they should be aware of the risks of the financial collapse. The world saw the collapse of the Silicon Valley Bank on Friday and 31 clients were from China or overseas.

Blockchain Business Cryptocurrency

Blockchain, regulations, boosting boom in digital asset payments
via Middle East Economy

The MENA WadzPay president, Khaled Moharem, an expert in the financial sector also thanks to his previous work with SWIFT, has been implementing digital payment solutions in the UAE and Saudi so he can add value to the growth of digital asset payments.

Banking Business Investments Politics Regulation

FinTech Definition
via FinTech Weekly

A complete definition of FinTech is the starting point to understand what is happening in the industry, why fintech is disruptive, where regulators are headed. FinTech Weekly published a comprehensive definition you can use to clear all your doubts.


Regulating Fintech: 5 Steps To Grow Sustainably [UPDATE]
via FinTech Weekly

Since regulators are always more active – and maybe too severe – in regulating the fintech industry, we share 5 steps that can help to regulate fintech … but in a sustainable way.


Senior Product Manager | Product Platform ($174,250/yr - $205,000/yr )
Senior Product Manager | Product Platform ($174,250/yr - $205,000/yr )
via Ramp

As the product leader owning Ramp's platform function, you will define and evolve our end-to-end platform product vision, strategy and execution by leading a core team of engineers and designers to build amazing products for our internal teams.

Client Deployment Manager
Client Deployment Manager
via Globcap

This Client Deployment Manager role is critical in supporting implement our strategy by driving speedy deployments of our white label technology solutions and increasing our client satisfaction.

(Senior) DevOps Engineer (f/m/d)
(Senior) DevOps Engineer (f/m/d)
via Raisin

We are looking for someone with a software engineering background, who found in DevOps an opportunity to help other engineers solve complex problems using cloud technologies and industry practices like infrastructure as code, CI/CD and platform engineering.

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