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Banking Failures Must be a Wake-up Call for Regulatory Modernization, Says Cross River Bank CEO


The recent collapses of tech-friendly banks, including Silicon Valley Bank (SVB), Signature BankSilvergate Bank and First Republic Bank, have rightly caused a global conversation about the future of banking, and even more so, of financial services.

PYMNTS recently posed these questions to Gilles Gade, the CEO of FinTech-focused Cross River Bank, to get his view on the contemporary environment and what needs to change.

Here’s what the challenger bank chief had to say.

PYMNTSThe Federal Reserve’s autopsy on Silicon Valley Bank’s failure puts blame partially on its own doorstep, while separate regulator reports on Signature Bank’s collapse cite that lender’s “poor management.” What did you think of the regulator self-reviews?


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