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Building A Private Bank For The Next Generation

Forrester IT

Significant gaps continue to exist in private banking, forcing firms to rethink pricing and organizational models. As a result, high-net-worth clients are not fully benefiting from some of the digital innovations that are changing how customers interact with their private banks.

Banking 539
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Senators ask regulators to investigate bank and crypto ties, citing Washington state bank

GeekWire

bank regulators to investigate the ties between the banking industry and cryptocurrency firms including Farmington, Wash.-based based Moonstone Bank. They also note that Jean Chalopin, who is the head of Moonstone’s parent company FBH, is also the chair of Bahamas-based Deltec Bank. Its net worth was $5.7

Banking 92
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Bank downplays ties to FTX sister company in latest fallout from crypto exchange failure

GeekWire

A bank in rural Washington state sought to distance itself from FTX on Tuesday following a report last week detailing its connections to the failed cryptocurrency exchange. 23 that FBH, the parent company of Farmington State Bank, received $11.5 Moonstone Bank’s reputation as well.” Moonstone Bank’s reputation as well.”

Banking 103
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Remitly reports $458M in 2021 revenue, up 78%, as remittance company suspends service in Russia

GeekWire

million, up 69% in the year-ago period, with a net loss of $16.6 Full-year revenue for 2021 came in at $458.6 EU, and other allies this week cut Russian banks off from Swift , an international payment communication system that helps facilitate transactions. million, up from $9 million. million, up 78%.

Report 98
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Consumer protection agency investigating Venmo’s collection practices

The Verge

A Venmo user’s account may be referred to collections if it becomes overdrawn; while money transfers within the app usually occur immediately, sometimes the funds don’t leave the user’s bank account for more than 24 hours. Earlier this week, PayPal reported net income of $1.57 So Venmo covers the amount of the payment in the interim.

Banking 106
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9 questions about Silicon Valley Bank’s collapse, answered

Vox

The bank is closed. Justin Sullivan/Getty Images Tech’s favorite bank just failed. If you work in tech , you had probably heard of Silicon Valley Bank before now. If you’re not familiar with this seemingly regional bank, nobody’s blaming you. Anyway, you’re here now — Silicon Valley Bank isn’t. trillion or so.

Banking 98
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Remitly aims to raise up to $332M at $6.5B valuation in IPO for Seattle fintech giant

GeekWire

million net loss in the first six months of this year. million net loss in 2020, doubling its annual revenue and cutting its loss nearly in half. — jstoffer (@jstoffer) September 9, 2021. Remitly CEO Matt Oppenheimer helped come up with the idea for Remitly while working for Barclays Bank in Kenya.

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