SVB Extends Kantox Partnership to Currency Management

Silicon Valley Bank has expanded its partnership with currency management technology firm Kantox to deploy the latter’s Dynamic Hedging solution to allow customers in the US to automate their currency hedging. Previously the solution was rolled out in Europe for the bank’s corporate clients.

The bank says its clients will be able to minimise risk, reduce costs and gain a competitive edge when operating across borders, by accessing instant visibility into both macro and micro FX exposures and automatically offsetting risks by booking, reporting and reconciling hedging transactions in real-time.

“SVB innovation clients conduct business globally from inception and are always looking for improved efficiency in managing their FX risk and optimising execution through automation,” says Paul Jennings, head of FX advisory at SVB.

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. [Our solution] will create greater efficiencies for treasurers and provide added value to SVB’s current FX services.”