How Rippling's Parker Conrad Rescued His Company as SVB Was Imploding
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The FDIC's Decision to Debit Bank and Payments Rails
Ripling debits its client's accounts early in any given week, providing enough time for the funds to settle or clear. The FDIC had seized Silicon Valley Bank, meaning Ripling needed to figure out fast how to access funds and then get them to people who needed those paychecks. Conrad was still sitting in his kitchen at 9 AM when he realized they would not.
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