The latest series of bank failures is testing trust in banks and fracturing the illusion that customers’ deposits are sitting there waiting for them. For even the savviest of bank customers, it is easy to make a deposit and forget it. Startups, VCs, and even individuals kept millions of dollars in their Silicon Valley Bank accounts, not thinking twice about the risks being taken with that money on their behalf.
Read more from Jiko CEO Stephane Lintner in his op-ed at Fortune, including the secrets of the industry learned firsthand in 2008 as a Wall Street quant trader who joined Goldman Sachs as a mathematician a few months before Lehman Brothers unraveled and what bank customers can do to make better decisions about where to store their money.
Fortune: Where’s your money? Your bank should be able to tell you
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