4 ms·
SVB was historically such a weird bank - it was the most "famous" tech bank, perhaps solely because of its name - but yet it was so utterly behind in the techno
by mmastrac 4y ago
SVB was historically such a weird bank - it was the most "famous" tech bank, perhaps solely because of its name - but yet it was so utterly behind in the technology it used for _years_.
- bink 4y agoBehind other banks or behind tech companies? Every bank I've ever used is about 10 years behind when it comes to tech.
- airstrike 4y ago10 is a very generous number
- AustinDev 4y agoUSAA is and has always been leaps and bounds ahead of other banks in terms of tech.
- loeg 4y agoI like USAA and bank with them but their tech is often worse than other banks. Their website is often slow or pages fail to load. Their app frequently crashes/hangs if you leave it in the background and then try to use it again. They have overly sensitive anti-fraud detection that prevents essentially all (desired) international transactions. They have weird low transfer limits ($5000/day) for outgoing ACH initiated on their end and outgoing Zelle ($1000/24hr). (If you initiate the ACH transfer from the receiving bank, the $5000 limit doesn't apply and they'll process the transfer normally.) Of course, the reason I bank with them at all is they had mobile check deposit in like 2011 or 2012, which was ahead of the game at that point.
- TMWNN 4y ago>SVB was historically such a weird bank - it was the most "famous" tech bank What would you name as its peers? I've heard First Republic. What about Bank of the West? >perhaps solely because of its name It is a killer name, after all. I bet the First Republics of the world wish that when they were started however many decades ago, their founders had the foresight to name them "High-Tech Bank" or "Sand Hill Bank" or somesuch.