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Kantox teams up with Silicon Valley Bank to provide FX hedging technology to UK corporates.

BANKING AND CREDIT NEWS-August 20, 2019--Kantox teams up with Silicon Valley Bank to provide FX hedging technology to UK corporates

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Global Banking News - 20 August 2019

Kantox, a company involved in foreign exchange (FX) management solutions, has said that it has entered into a partnership with Silicon Valley Bank (SVB) to offer cutting-edge FX management software to SVB's corporate clients across the United Kingdom, Finextra has reported online.

With many of SVB's clients' core industries - including eCommerce, Fintech, Digital Health and Enterprise Software - being both technology-driven and international by nature, automating currency management processes to increase efficiencies and reduce the administrative burden is a necessity.

A micro-hedging solution developed by Kantox, Dynamic Hedging, fully is claimed to automate FX risk management to create greater efficiencies for treasurers. The technology is further claimed to provide better visibility over FX exposure and hedges transactions in real-time to mitigate FX risk and enhance competitiveness - all without human intervention. The partnership will help SVB's UK corporate clients have access to Kantox's software as well as benefit from automated FX execution through existing SVB banking facilities, the report said.

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.'

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Publication:M2 Banking & Credit News (BCN)
Geographic Code:4EUUK
Date:Aug 20, 2019
Words:285
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