Valley Bank is committed to fostering a culture where people can collaborate, create, and conceive ideas that provide our customers with an unmatched banking experience. That’s why we don’t define innovation from strictly a technological perspective, but rather as a way to enhance our customers’ experience through thoughtful, creative solutions and tools catered to their needs.
“While it’s no secret that innovation significantly improves the customer experience, it’s important that innovation also leads to new developments that can modernize the banking industry,” says Stuart Cook, Chief Innovation Officer at Valley.
To ensure a seamless experience for all, for example, Valley has User Experience and Digital Banking teams aimed at developing and implementing innovative models that improve processes, remove redundancies, effectively address issues, and deliver optimized services that meet our customers’ needs.
“We use technology and data-driven insights to enhance our offerings, apply new technologies, and provide our customers with a secure and advanced banking experience,” Cook added.
INVESTING IN THE TECHNOLOGY OF THE FUTURE
For nearly a century, Valley has been a linchpin in local economies, and has watched the financial industry grow, evolve, and embrace a new wave of change and innovation, giving way to advanced solutions that are changing the playing field for our clients.
Valley Ventures, our Corporate Venture Capital group, makes early-stage equity investments into start-ups designed to transform the financial space.
“It’s a priority of ours to invest in advanced tools and technologies that can provide an exceptional experience for our partners and customers,” says Cook. “It is our responsibility as relationship bankers to give our customers a user experience that makes their banking smooth, safe, and easy. Valley Ventures is a natural continuation of our decision to acquire Bank Leumi USA, and it equips Valley with an additional set of capabilities to engage the startup Ecosystem.”
To date, Valley Ventures has a portfolio of twelve investments, and seeks to invest in companies that are tackling big problems in three verticals:
- Fintech, the use of technology to power innovation within financial services
- Proptech, which is used by real estate professionals, underwriters, property managers, and banks, among others, to manage transactions
- Enterprise Technology, investing in companies that can help us serve the needs of communities that have otherwise been overlooked
“We are proud to offer the companies within our portfolio a series of benefits backed by strong security, deep industry expertise, and a culture committed to innovation,” says Cook.
EXPANDING TECHNOLOGY BANKING SERVICE
As thought leaders in the tech industry, we know the nuances of the market, its players, and its movements, and we know that our clients are constantly required to change, adapt, and make big and bold decisions.
Through our Technology Banking team, we offer a variety of services, including subscription financing and equity offerings designed to accelerate client growth and capital deployment. “We are committed to bring value to our clients through our years of expertise and our suite of best-in-class banking solutions,” says Ori Kaufman Grafter, Head of International and Technology Banking at Valley. “Our team is designed to help our clients navigate the industry and expand their reach.”
Our Tech Banking teams are located in the East Coast, West Coast, and in Israel. We serve private equity and venture capital firms, technology entrepreneurs, and founders and executives that invest in, build, and manage technology and innovation companies.
As a full-service commercial bank, Valley has the tools to help companies achieve their ambitions. Whether needing cash management solutions, foreign exchange services, or other commercial banking services, our dedicated teams are equipped to help you achieve your goals.
INNOVATION IS NOT JUST ABOUT TECHNOLOGY
Valley has put particular focus on specific industries that need better banking support. One example is our expansion of services for the cannabis industry.
Over the past few years, Valley has become a leader in the cannabis banking industry, having become one of the few federally chartered banks onboarding cannabis business-related clients.
“We are proud to have developed an innovative banking model that allows this cash-dominant industry, which has been traditionally overlooked by financial institutions, to receive access to banking and investment capital,” says Cook.
Under Valley’s cannabis banking program, clients can navigate complex cross-border operations through a software model developed by one of Valley’s service providers. The software identifies where a transaction happened and consolidates multi-state transactions into a single banking statement, simplifying the tracking of purchases across states. The Bank has also cut transport fees – which pile up on multi-state operators – saving clients tens of thousands of dollars over time.
“Not only has this type of innovation allowed these businesses to operate efficiently, but its allowed this heavily taxed industry to generate revenue for local economies, create jobs in economically distressed communities, and open business opportunities for women, minorities, and social equity applicants,” says Cook.
Our commitment to innovation has been and always will be focused on the needs of our customers. Ensuring the success of our customers and our communities is what drives us to continue to expand the notion of innovation in everything we do.
We invite you to learn more about Valley Bank at Valley.com.