A minor error could practically take a company alike this down.
Yes, a financial company needs more focus on test, quality, etc. than a social network or game, but you don't really get those things by terrorizing employees.
If you look at the organizations producing the best, most bug-free code, they're generally 9-5 shops with very experienced people, probably way more qualified than a startup employee for the same role, and for roles where the requirements and performance metrics are pretty well established.
Trying to avoid all defects is kind of the opposite end of a spectrum from rapid innovation. You can have low defects in production through great test and rapidly catching/fixing bugs, but at a certain point, you do need to accept higher overhead and slower development speed to deliver very low defect products.