Kantox and Silicon Valley Bank partner to provide FX hedging technology to UK clients
Kantox has just announced a partnership with Silicon Valley Bank (SVB) to offer its Dynamic Hedging solution to SVB’s corporate clients in the United Kingdom.
Through this partnership, SVB’s clients will have access to Kantox’s award-winning software while also benefitting from automated FX execution through their existing SVB banking facilities.
Following on from a recent article about bank partnerships posted by our CEO, Philippe Gelis, this is the first bank partnership to be announced. In April this year, Kantox closed its second venture debt financing deal with SVB for €5 million.
Philippe Gelis, CEO and Co-founder at Kantox, said in a press release: “Kantox has an excellent relationship with Silicon Valley Bank who have always supported our innovative approach to FX management.
“By offering our Dynamic Hedging software to their corporate clients, we are providing a sophisticated solution which makes the treasurer’s job easier, while providing added value to SVB’s existing FX services,” concluded Philippe.
Erin Platts, Head of EMEA and President of Silicon Valley Bank’s UK Branch added: “FX is clearly an important focus for our many globally-connected clients, as is working with a technology partner that understands the innovation economy and the sectors in which they operate.
“Through this partnership with Kantox, we aim to create genuine value for our clients by bringing automation and efficiency to their transactional FX management activities,” explained Erin.
Many of SVB’s clients’ core industries – including ecommerce, fintech, digital health and enterprise software – are technology-driven and international by nature. With such a high level of digitalisation, automating currency management processes to increase efficiencies and reduce the administrative burden is a necessity for many businesses.
Dynamic Hedging fully automates FX risk management to create greater efficiencies for treasurers. The technology provides better visibility over FX exposure and hedges transactions in real-time to mitigate FX risk and enhance competitiveness – all without human intervention.