SVB Collapse Leads to Rethinking Startup Banking Options

  • Following the collapse of Silicon Valley Bank (SVB) in March, fintech companies stepped in to fill the gap for startups seeking alternatives for their funds.
  • Mercury saw a substantial influx of customers and funds, while Piermont Bank, a digital-only bank, was able to quickly open accounts.
  • Panelists discussed encouraging former SVB customers to return, improving the banking experience, and understanding the specific needs of startup clients.
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