Kantox expands partnership with Silicon Valley Bank into the US market
By Pavithra R
Kantox, a European FinTech and leader in Currency Management Automation software, has announced expanding its partnership with Silicon Valley Bank, a leading provider of a range of banking services to companies of all sizes in innovation centers around the world.
Through the expansion, SVB’s corporate clients across the U.S. can now leverage Kantox’s Dynamic Hedging solution to automate the management of their currency risk.
“SVB innovation clients conduct business globally from inception and are always looking for improved efficiency in managing their FX risk and optimizing execution through automation. We’re pleased to partner with Kantox to provide our clients with an industry-leading solution to currency management,” said Paul Jennings, Head of FX Advisory at Silicon Valley Bank.
By introducing the Kantox platform to SVB’s suite of specialized currency management solutions, SVB clients will now leverage a fully automated FX risk management solution that can help them to minimize risk, reduce costs and gain a competitive edge when operating across borders. The seamlessly integrated technology provides instant visibility into both macro and micro FX exposures and automatically offsets risk by booking, reporting and reconciling hedging transactions in real-time with minimal human intervention.
“SVB is the perfect partner for us to take our first steps within the US market. They understand the growing need for digital transformation within finance and view the innovation economy with a similar lens to that of our own. We’re excited to jointly offer our award-winning Kantox Dynamic Hedging® solution to their US corporate clients, which will create greater efficiencies for treasurers and provide added value to SVB’s current FX services,” said Philippe Gelis, CEO and Co-founder at Kantox.
The expanded partnership follows a successful launch in EMEA in which SVB’s UK corporate clients were provided access to Kantox’s solution.
Established in 1983, Silicon Valley Bank (SVB) helps innovative companies and their investors move bold ideas forward, fast. It provides a full range of financial services and expertise to companies of all sizes in innovation centers around the world.
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