Kantox and Silicon Valley Bank expand their partnership, in order to provide innovative currency risk management technology to US clients.
Kantox, a European fintech and leader in Currency Management Automation software, has recently announced an expansion of their partnership with Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors. Through this expansion, SVB’s corporate clients across the United States will now be able to leverage Kantox’s award-winning Kantox Dynamic Hedging® solution to automate the management of their currency risk.
In doing so, Kantox will be one of the first European fintech companies to partner with an American bank, in order to provide their solution to that market. This expansion comes at a time when many businesses continue to struggle with the cost and risk of international currency transactions. Kantox also currently works with hundreds of clients across a broad spectrum of industries, including the food, travel, chemical, e-commerce, manufacturing, oil and gas sectors.
By introducing the Kantox platform to SVB’s existing suite of specialized currency management solutions, SVB clients will be able to 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 – all with minimal human intervention.
The expanded partnership follows a successful launch in EMEA in which SVB’s UK corporate clients were provided access to Kantox’s solution.
For nearly 40 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centres around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
Paul Jennings, Head of FX Advisory at Silicon Valley Bank says: “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.”
Philippe Gelis, CEO and Co-founder at Kantox, adds: “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”.