The Future Of Business To Business Banking: Fintech 50 2024 ...Middle East

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The Future Of Business To Business Banking: Fintech 50 2024
Lauren Myrick’s company Found is the only Fintech 50 newcomer in the business to business banking category this year. Found Compared with other fintech segments, business to business banking had a pretty good 2023–thanks in part to the failure of a conventional bank. When $209-billion-in-assets Silicon Valley Bank’s collapsed in March 2023, some fintechs saw a deluge of new business. For example, Mercury, founded in 2017, attracted more than $2 billion in deposits in the days after SVB’s VB implosion and had retained more than 90% of those customers six months later. While not itself a bank eligible for federal deposit insurance, Mercury makes customers eligible for up to $5 million i

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