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Main IT Firms That Did Enterprise With SVB

Main IT Firms That Did Enterprise With SVB

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Joseph F. Kovar, Wade Tyler Millward

The collapse of Silicon Valley Financial institution has despatched ripples all through the monetary and know-how industries. Listed below are a few of the IT distributors that had performed enterprise with the financial institution.



Main IT Firms That Did Enterprise With SVB


The collapse of Silicon Valley Financial institution (SVB) has despatched ripples all through the monetary and know-how industries.

Bloomberg experiences that greater than 190 firms worldwide may be searching for new lenders after the collapse of SVB.

[RELATED: SVB Backstop Fallout: IT Solution Providers Breathe ‘Sigh Of Relief’]

The 40-year-old Santa Clara, Calif.-based financial institution collapsed when clients withdrew $42 billion in a single day final week, in accordance with CNN.

IT Distributors That Did Enterprise With SVB

A few of the firms that exposed their ongoing enterprise with the financial institution embrace:

*RingCentral

*Sumo Logic

*Juniper Networks

*Lantronix

In a joint assertion Sunday, Secretary of the Treasury Janet Yellen, Federal Reserve Board Chair Jerome Powell and Federal Deposit Insurance coverage Corp. (FDIC) Chairman Martin Gruenberg introduced that the federal government would absolutely shield all depositors of SVB with no losses borne by taxpayers.

Right here’s what you should know.