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Digital-Only-Banks Emulate Silicon Valley Bank

The digital-only-bank emerging in Nigeria should study Silicon Valley Bank. It does many things for startups as a bank: funding, lending, consulting, networking, and cheerleading. That sauce would be the game changer to win customers.

Silicon Valley Bank which has shown how a modern bank can run when it comes to working with startups. Silicon Valley Bank, the bankroller of names such as Airbnb and Pinterest, is moving into the Nordic region. As Jennifer Baljko puts it in this piece for Fortune, "the U.S. bank’s entry, which was encouraged by Danish companies and investors, is seen as filling a kind of multifaceted funding-lending-consulting-networking-cheerleading gap that traditional local banks have a hard time closing."

But it would be competitive as Facebook goes into payment with Facebook Pay.

Today we’re introducing Facebook Pay, which will provide people with a convenient, secure and consistent payment experience across Facebook, Messenger, Instagram and WhatsApp.

People already use payments across our apps to shop, donate to causes and send money to each other. Facebook Pay will make these transactions easier while continuing to ensure your payment information is secure and protected.