Kantox to Provide Automated FX Risk Management Solution to Silicon Valley Bank Clients

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.


Kantox to Provide Automated FX Risk Management Solution to Silicon Valley Bank Clients

August 9, 2019

Kantox has partnered with Silicon Valley Bank (SVB) to offer its FX management software, Dynamic Hedging, to SVB’s corporate clients in the United Kingdom across a number of sectors, including eCommerce, Fintech, Digital Health, and Enterprise Software.

Dynamic Hedging is a micro-hedging solution developed by Kantox which fully automates FX risk management and provides better visibility over FX exposure and hedges transactions in real-time to mitigate FX risk and enhance competitiveness. Automating currency management processes will help SVB’s UK corporate clients to increase efficiencies and reduce their administrative burden.

Philippe Gelis, CEO and Co-founder at Kantox, commented: “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.”

Erin Platts, Head of EMEA and President of Silicon Valley Bank’s UK Branch, said: “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.”

Kantox closed its second venture debt financing deal with SVB for €5 million in April 2019. The firm was founded in 2011 with the mission of solving the challenge of currency management which translates to allowing businesses to capture FX exposure data and automate hedging execution, process payments in a smart way, apply dynamic pricing of foreign currencies in real-time, open currency accounts in 29 currencies and simplify hedge accounting.

Dynamic Hedging was also recently awarded Best Risk Management Solution by Treasury Management International. Kantox was also awarded the Best e-FX Platform for Corporates at the FX Week e-FX Awards, Kantox was included on the Deloitte Technology Fast 50 UK list between 2016 and 2018 and Fast 500 EMEA in 2016 and 2017.

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