Silicon Valley Bank

HawkEye 360 Secures $40 Million Debt Commitment

Retrieved on: 
Tuesday, April 2, 2024
First Citizens BancShares, SVB, Silicon Valley Bank, Lead, Hawk-Eye, HawkEye 360, RF

Over the past 12 months, HawkEye 360 has raised $108 million across its Series D-1 round and this debt financing, which has underscored the support and confidence from investors and lenders regarding its business and financial momentum.

Key Points: 
  • Over the past 12 months, HawkEye 360 has raised $108 million across its Series D-1 round and this debt financing, which has underscored the support and confidence from investors and lenders regarding its business and financial momentum.
  • "Raising over $400 million in capital in under five years is a landmark achievement for HawkEye 360," stated John Serafini, CEO of HawkEye 360.
  • "SVB is thrilled to continue our relationship with HawkEye 360 and provide them with the financing to help them execute their growth strategy."
  • For more information about the capabilities of the HawkEye 360 satellite constellation, please visit he360.com .

Celent Names Silicon Valley Bank Leader in Cash Management

Retrieved on: 
Tuesday, April 2, 2024
First Citizens BancShares, Corporation, SVB, SAN, Silicon Valley Bank, Silicon, Face, Treasury, Cryptocurrency

SAN FRANCISCO , April 2, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced that SVB Go, its new online banking platform, has been recognized as a leading cash management solution by Celent, a global research and advisory firm for the financial services industry.

Key Points: 
  • SAN FRANCISCO , April 2, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced that SVB Go , its new online banking platform, has been recognized as a leading cash management solution by Celent, a global research and advisory firm for the financial services industry.
  • "The Model Bank Awards recognize how banks creatively apply technology to change the face of banking," said Colin Kerr, Principal Analyst at Celent.
  • Silicon Valley Bank has reinvented cash management by tailoring unique customer experiences for each stage of a client company's growth."
  • "Silicon Valley Bank is committed to providing, and investing in, digital solutions, products and services our clients need to scale and grow their businesses," said Gagan Kanjlia, Chief Product Officer of Silicon Valley Bank.

WealthManagement.com Named a Finalist for Three 2024 Jesse H. Neal Awards

Retrieved on: 
Wednesday, March 27, 2024
Editorial, SVB, Knowledge, Research, RIA, Silicon, RIAS, Silicon Valley Bank, Marketing

NEW YORK, March 27, 2024 /PRNewswire/ -- WealthManagement.com is named a finalist for three 2024 Jesse H. Neal Awards: Best Industry Coverage: RIAs; Best News Coverage, and Best Media Brand.

Key Points: 
  • NEW YORK, March 27, 2024 /PRNewswire/ -- WealthManagement.com is named a finalist for three 2024 Jesse H. Neal Awards: Best Industry Coverage: RIAs; Best News Coverage, and Best Media Brand.
  • The recognition is shared by all for efforts that span the website, our editorial, podcasts, videos, research, events.
  • "We're honored to once again be a finalist for the Neal Awards, and I'm particularly proud of the categories in which WealthManagement.com is a finalist," said Wealth Management Group's director of editorial strategy and operations David Armstrong.
  • The 2024 Neal Award winners will be announced and honored at a New York City luncheon on April 26.

Bank Director Releases 2024 Risk Survey Results

Retrieved on: 
Tuesday, March 26, 2024
Moss Adams, Community, Consumer, White, Editorial, Federal Home Loan Banks, Eye, Silicon Valley Bank, Silicon, Research, AI, NIM, Bank

BRENTWOOD, Tenn., March 26, 2024 /PRNewswire/ -- Bank Director, the leading information resource for directors and officers of financial institutions nationwide, released its 2024 Risk Survey, sponsored by Moss Adams LLP. The survey reveals rising concerns among directors and executives around enhanced regulatory pressures, including the Community Reinvestment Act and scrutiny on fee income.

Key Points: 
  • BRENTWOOD, Tenn., March 26, 2024 /PRNewswire/ -- Bank Director, the leading information resource for directors and officers of financial institutions nationwide, released its 2024 Risk Survey , sponsored by Moss Adams LLP.
  • According to the survey , more than three-quarters of respondents say their concerns about regulatory risk have grown over the past year, compared with 66% who said as much in the previous survey.
  • "Deposit costs climbed in 2023 as more customers pursued a better rate," says Emily McCormick, vice president of editorial and research at Bank Director.
  • A majority say their bank has undergone a regulatory exam since the March 2023 failure of Silicon Valley Bank.

Coast raises $92 million in new capital, partners with Visa to expand financial tools and software for modern business fleets

Retrieved on: 
Thursday, March 21, 2024
BoxGroup, Visa, Insight Partners, The Home Depot, Partnership, SVB, SVP, Lerner, GPS, Transport, SMS, Daniel, Silicon, HVAC, Workflow, Traction, Accel, Pest control, Silicon Valley Bank, Discount Tire, RaceTrac, Cumberland Farms, Economics, Mobile phone

The company also secured $67 million in committed debt capital from Silicon Valley Bank and TriplePoint Capital.

Key Points: 
  • The company also secured $67 million in committed debt capital from Silicon Valley Bank and TriplePoint Capital.
  • The fleet fuel payments on these specialized cards add up to a staggering $120 billion annually in the US.
  • Coast, led by founder and CEO Daniel Simon, reimagines the fleet payments product category, enabled by mobile technology and state-of-the-art vehicle data and telematics.
  • "Coast provides a strong financial product backed by powerful software for fleet-operating businesses, which allows it to attract very high-quality companies as customers," Foley said.

Link Money Collaborates with Silicon Valley Bank to Scale its Pay by Bank Solution

Retrieved on: 
Thursday, March 21, 2024
First Citizens BancShares, ACH, SVB, SAN, Silicon Valley Bank, Bank, Cryptocurrency

SAN FRANCISCO, March 21, 2024 /PRNewswire-PRWeb/ -- Link Financial Technologies, Inc. (dba Link Money), a US-based open banking payment platform, and Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced a strategic collaboration. Going forward, SVB will handle ACH processing and money movement on behalf of Link Money's merchants, enabling Link Money to enhance its capabilities, scale faster and further improve its Pay by Bank product.

Key Points: 
  • SAN FRANCISCO, March 21, 2024 /PRNewswire-PRWeb/ -- Link Financial Technologies, Inc. (dba Link Money), a US-based open banking payment platform, and Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced a strategic collaboration.
  • Going forward, SVB will handle ACH processing and money movement on behalf of Link Money's merchants, enabling Link Money to enhance its capabilities, scale faster and further improve its Pay by Bank product.
  • SVB's tech-forward banking platform enables us to provide a higher quality product offering for merchants utilizing our Pay by Bank solution.
  • Link Money's Pay by Bank solution enables merchants to save up to 80% on payment processing fees, reduce fraud costs, and lower churn.

Introducing Centime Banking: Business Banking Reimagined

Retrieved on: 
Wednesday, March 20, 2024
Bank failure, FNBO, Partnership, FDIC, Risk, SVB, Luigi, CFOS, Silicon, Fintech, First National Bank, Silicon Valley Bank, Bank

BOSTON, March 20, 2024 /PRNewswire/ -- Centime, a Boston-based fintech that offers comprehensive cash management and banking solutions to small- to midsize-businesses (SMBs), today announced the launch of a new banking product in partnership with FNBO (First National Bank of Omaha) aimed at helping businesses take control of their cash, protect their deposits, and maximize their return.

Key Points: 
  • At the same time, every business seeks higher yield on their operating accounts, instant liquidity, unrestricted use, and maximum protection against risks.
  • Automated Account Diversification: Centime Checking Plus* users can automatically diversify deposits and get access to multi-million-dollar FDIC insurance coverage.
  • By partnering with FNBO, Centime combines a modern online banking experience that's easy and convenient to administer, with the trusted stability of a 166-year-old financial institution with over $30 billion in assets.
  • To learn more and sign up for Centime Banking today, visit https://www.centime.com/features/banking-solutions .

Brex Named to Fast Company's Annual List of the World's Most Innovative Companies of 2024

Retrieved on: 
Tuesday, March 19, 2024
ROI, Culture, Organization, SVB, SAN, DoorDash, AI, Software, Taco Bell, Silicon Valley Bank, Cryptocurrency

SAN FRANCISCO, March 19, 2024 /PRNewswire/ -- Brex, the AI powered spend platform for startups and enterprises has been named to Fast Company's prestigious list of the World's Most Innovative Companies of 2024. The company earned the standing of No.4 in the Finance category.

Key Points: 
  • The first fully unified global spend platform joins the ranks of Nvidia, YouTube, Taco Bell, and more
    SAN FRANCISCO, March 19, 2024 /PRNewswire/ -- Brex, the AI powered spend platform for startups and enterprises has been named to Fast Company's prestigious list of the World's Most Innovative Companies of 2024.
  • This year's list shines a spotlight on businesses that are shaping industry and culture through their innovations.
  • Alongside the World's 50 Most Innovative Companies, Fast Company recognizes 606 organizations across 58 sectors and regions.
  • "To be recognized on Fast Company's Innovative Companies list is a testament to our commitment to our customers across the startup community and global enterprises."

Pinwheel's Power of Primacy Report Finds Banks Fail to Achieve Account Primacy by Wasting Resources on Account-Opening Incentives

Retrieved on: 
Friday, March 15, 2024
Partnership, Bank, Silicon Valley Bank, Pinwheel, Acquisition, Research, Silicon, Growth, Fintech, Digital

Pinwheel also polled consumers to understand if their bank switching behavior matches up with the acquisition strategies employed by banks.

Key Points: 
  • Pinwheel also polled consumers to understand if their bank switching behavior matches up with the acquisition strategies employed by banks.
  • Banks' account opening campaigns don't yield quality accounts because banks don't meet customer experience expectations.
  • These pieces of research help banks better define, measure, and achieve primacy.
  • The main takeaway from these findings is that banks' lofty account opening incentive campaigns aren't yielding quality accounts because banks are missing the mark on.

Silicon Valley Bank Moves to New Office in Downtown San Francisco

Retrieved on: 
Tuesday, March 12, 2024
Ecosystem, First Citizens BancShares, SVB, Berry Street, SAN, Silicon Valley Bank, Silicon, Acquisition, Howard Street, Nightclub

SAN FRANCISCO, March 12, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank and financial services provider to some of the world's most innovative companies and investors, today announced the opening of its new office in downtown San Francisco. The upgraded space, located at 222 2nd Street, features modern workspaces, as well as an event space and outdoor terrace for convening innovation economy clients and partners. 

Key Points: 
  • SAN FRANCISCO, March 12, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank and financial services provider to some of the world's most innovative companies and investors, today announced the opening of its new office in downtown San Francisco.
  • This San Francisco investment by SVB and parent company First Citizens supports the bank's growth goals and continued commitment to serving the innovation economy.
  • SVB has had a presence in San Francisco for 25 years, since opening its first office at 185 Berry Street in China Basin in 1999.
  • In addition to the San Francisco office, SVB has Bay Area offices in Menlo Park, Palo Alto and Santa Clara.