"There are virtual runs on some of the banks ... that are rumored to be in trouble, " said Russ Dallen, a banking analyst at BBO Financial Services in Caracas.
Banks will seize such virtual assets in case of a default, or renegotiate the terms of a loan if a company misses a launch date, a sales target or an expected follow-on round of venture capital.
The stop was caused by a virtual freeze of capital inflows and lending as Brazilian banks were much more reliant back then on low rate international interbank lending, Volpon says.
There, Office Tiger employs 675 young Indians providing a virtual back office to some 20 American and European firms: banks, auditors, consultants and lawyers.
In its recent earnings call, NetApp confirmed that nine out of the 10 largest New York banks have selected its storage solutions to support their virtual desktops.