FVCBankcorp, Inc. Announces Major Investment in Cutting-edge Fintech Fund
27 Luglio 2022 - 10:00PM
Business Wire
$1 million investment puts the Company in a class of leading
financial institutions pioneering transformations
FVCBankcorp, Inc. (NASDAQ: FVCB) (the “Company”) announced a $1
million investment in JAM FINTOP Blockchain (the Fund), a fund
created and managed by Jacobs Asset Management (JAM) and FINTOP
Capital. The investment gains the Company access to the Fund’s
blockchain “infrastructure,” such as blockchain-powered
applications in the key service areas of lending, payments and
exchanges, as well as access to the JAM FINTOP Network (the
“Network”) of community banks. The Company sees this significant
investment as its latest endeavor in setting its customers up for
success.
“We are excited about FVCBankcorp’s strategic investment in JAM
FINTOP Blockchain. Our commitment to investing in innovative
solutions like the rapidly growing and invaluable blockchain
technology infrastructure drove this decision,” said FVCbank
Chairman and CEO David Pijor, Esq. “With this investment, we can
now leverage connections within the Fund’s Network to secure
strategic partnerships with fintech startups.”
“Over the next decade, we believe blockchain will become the
dominant operating infrastructure of the financial system and look
forward to helping our Network members become early adopters of
this transformational technology. Additionally, we believe the JAM
FINTOP Network can provide access to proprietary deal flow as
entrepreneurs appreciate the tremendous value and touchpoints it
provides. We are appreciative of the Company’s investment and we
are proud to welcome the team to our Network,” said Ryan Zacharia,
General Partner at JAM Special Opportunity Ventures.
The Fund supports its financial institution partners by
investing in companies that help community banks compete against
megabanks, neobanks and fintechs. The Company’s investment unlocks
avenues to enhanced operations within the financial infrastructure
of the future by joining a cohort of over 90 banks with more than
$1 trillion in combined assets. Taken as a whole, the Network would
rank as the fifth-largest commercial bank in the United States,
providing bolstered strength through mutual support and
resources.
This strategic investment in fintech is only the latest of many
the Company has made in recent years. In 2021 alone, the Company
made significant strides in leveraging the power of fintech to
serve its customers. Notable fintech investments include
implementing a leading construction lending monitoring software
that has enhanced compliance and sped up the funding of draw
requests and the integration of Robotic Processes Automation (RPA),
which virtually eliminated human error on repetitive tasks while
freeing up hundreds of working hours annually.
The Company continues to demonstrate that it prioritizes
innovation and inspires change to meet the banking needs of a
modern clientele.
About FVCBankcorp, Inc.
FVCBankcorp, Inc. is the holding company for FVCbank, a
wholly-owned subsidiary that commenced operations in November 2007.
FVCbank is a $2.3 billion asset-sized Virginia-chartered community
bank serving the banking needs of commercial businesses, nonprofit
organizations, professional service entities, their owners and
employees located in the greater Baltimore and Washington D.C.,
metropolitan areas. FVCbank is based in Fairfax, Virginia, and has
nine full-service offices in Arlington, Fairfax, Manassas, Reston
and Springfield, Virginia, Washington D.C., and Baltimore,
Bethesda, and Rockville, Maryland.
For more information on the Company’s selected financial
information, please visit the Investor Relations page of
FVCBankcorp, Inc.’s website, www.fvcbank.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220727006054/en/
For further information, contact: David W. Pijor, Chairman and
CEO Phone: (703) 436-3802 Email: dpijor@fvcbank.com
Patricia A. Ferrick, President Phone: (703) 436-3822 Email:
pferrick@fvcbank.com
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