New York, May 1, 2023 – The U.S. banking crisis that began in March 2023 was the result of a number of factors, including:
The collapse of Silicon Valley Bank: Silicon Valley Bank was a large regional bank that specialized in lending to technology companies. The bank’s collapse in March 2023 was a major blow to the banking industry and shook confidence in the financial system.
Central banks are faced with the ongoing debates – Should retail and wholesale clearing and settlement of CBDC payments be separated? The differentiation doesn’t matter to the average citizen user. Their primary concern is to have a straightforward, secure, and all-encompassing solution that enables them to transfer value easily and affordably, regardless of their access to a bank or mobile/internet connectivity. Continue reading
The strategic partnership between Viva Wallet, a leading European cloud-based neobank, and Elo, a leading global supplier of interactive touch solutions, is pioneering a new retail payments experience. European businesses can now offer new payment experiences, accepting Chip & PIN and Tap-on-Phone contactless payments by combining Viva Wallet’s cutting-edge embedded payments platform for smart devices, with Elo M50 and M60 Pay mobile computers in an enterprise-grade mobile point of sale system. One piece of technology that integrates smart retail software and payment acceptance for each and every transaction into a powerful and robust handheld Android computer; anywhere, anytime, seamlessly, all from the palm of your hand. Viva Wallet and Elo’s strategic alliance, featuring additional omnichannel solutions, has gone live in Europe with plans to expand globally, including the US. Continue reading
Charles Read, University of Cambridge
A former prime minister of Britain, Harold Wilson, is famous for remarking that a week is a long time in politics. But in the world of finance, it seems everything can change in just two days.
As disruptive forces roil today’s financial sector, banking execs are scrutinizing the evolving role of banks in the most competitive market they’ve ever faced. What does the future hold? And how can they meet the challenges ahead to forge a brighter future – both for the industry and the greater world? Such is the focus of a new future of banking study, Banking in 2035: three possible futures, by Economist Impact and sponsored by AI and analytics leader SAS. Continue reading