Banking led off fintech news again this week with the regional bank "mini crisis" continuing to unfold
Making news this week were First Republic Bank, Shopify, Cross River Bank, Wise, Coinbase, Binance.US, Klarna, First Republic Bank, Nubank, Congress and more.
Will this be enough to break the spiralling loss of confidence in the banking system?
·
Regulators' seizure of the ailing First Republic comes as no surprise after a week of speculation. JP Morgan wins the bid to acquire.
The good news this week is that we had no more bank failures in this country. While a buyer was found for Signature Bank (most of it anyway) the fate of First Republic still hangs in the balance.
First Republic Bank has acquired Gradifi, a student loan repayment technology platform; the platform offers technology that allows employers to make contributions to the student loans of their employees; an increasing number of employers have been integrating student loan contributions with their benefit plans; Gradifi will become a wholly-owned subsidiary of First Republic Bank and the acquisition will help it to meet the increasing demand for its technology. Source