BankProv to Scale its Specialty Banking Team to Serve Underserved Markets
BankProv, based in Amesbury, Massachusetts, announced on January 18, 2022, its expansion of the Digital Asset team to enhance its banking services for the cryptocurrency community. The bank pioneered credit lines backed by Ether and launched innovative lending solutions for crypto-mining businesses. Key personnel include Joe Kenney as EVP and Chief Lending Officer, and Bill Papp as VP of Digital Asset Banking. CEO Dave Mansfield emphasized BankProv's commitment to providing tailored solutions for underserved markets, supporting the growth of the digital asset sector.
- Pioneered credit lines backed by Ether, indicating innovation in financial services.
- Expansion of the Digital Asset team shows commitment to growth in cryptocurrency banking.
- Launch of new lending solutions for crypto-mining businesses, enhancing service offerings.
- None.
AMESBURY, Mass., Jan. 18, 2022 /PRNewswire/ -- BankProv, a future-ready commercial bank that offers adaptive and technology-first banking solutions to emerging markets, is expanding its Digital Asset team as the Bank pushes its full-service offering for the cryptocurrency community to the next level.
In 2021, BankProv became the first bank in the industry to extend a line of credit backed by Ether, announced its offering of equipment and infrastructure loans to help crypto-mining businesses scale their operations, and launched a series of industry-leading APIs, inclusive of the new ProvXchange™ network for 24/7, client to client transfers.
BankProv will continue to support the cryptocurrency community through the alignment and promotion of key personnel:
Joe Kenney: Executive Vice President, Chief Lending Officer
When Joe Kenney joined the Bank in 2012, he was tasked with growing the Bank's presence in Southern NH. Kenney eagerly rose to the challenge, building out a very successful lending team in our Bedford location. In his new role as EVP, Chief Lending Officer, Kenney will continue to help the Bank build out its specialty products and niche lending areas.
Paul Mansfield: Senior Vice President, Director of Specialty Lending
Paul Mansfield joined the Bank in 2017 as part of our Leverage Cash Flow team but quickly grew his skills across various industries. In 2021, Mansfield took his knowledge and helped launch BankProv's Specialty Lending team. The team's focus of providing innovative lending solutions to the cryptocurrency ecosystem sets the Bank on a path to become leaders in the market.
Ryan Fox: Vice President, Specialty Lending
Joining the bank in 2020, Ryan Fox spent most of his career at William Fox & Co., a family-owned business in Washington, D.C. His experience owning and managing a business for more than a decade gives him the first-hand insight, knowledge and understanding of the challenges that face business owners daily. Fox has quickly developed as one of the go-to experts in the crypto lending space and was instrumental in the Bank originating and closing its first crypto mining loan.
Max Rossignol: Specialty Lending Portfolio Manager
Max Rossignol joined the Bank at the end of 2021 as the Specialty Lending Portfolio Manager. A recent graduate of Saint Michael's College, Rossignol will support the growth of the Specialty Lending team through relationship management and industry analysis.
Bill Papp: Vice President, Digital Asset Banking
Bill Papp joins BankProv as Vice President, Digital Asset Banking with more than 25 years of experience in the financial industry. He started his career at Lehman Brothers and most recently spent five years at Pacific Premier Trust, a division of Pacific Premier Bank. Papp brings a wealth of digital asset knowledge and will specialize in business banking for crypto-native and related businesses.
Zachary Zwicker: Vice President, Business Development
Zach Zwicker was recently promoted to Vice President, Businesses Development and will join the Digital Asset team to support crypto-related businesses, particularly miners and those interested in the Bank's banking-as-a-service (BaaS) business model. During his three-year tenure at BankProv, Zwicker has proven that he is interested, knowledgeable and dedicated to driving deposits, and is poising the Bank for continued growth in the Digital Asset space.
"For several years, BankProv has been focused on creating customized solutions and robust fiat banking products for all business types in the cryptocurrency space," said Dave Mansfield, CEO of BankProv. "The growth of our Digital Asset team will help us solidify our mission and provide much-needed banking services to an underserved market."
About BankProv:
BankProv, legally operating as The Provident Bank, is a subsidiary of Provident Bancorp, Inc. (NASDAQ: PVBC). BankProv is a future-ready commercial bank for corporate clients, specializing in offering adaptive and technology-first banking solutions to niche markets, including cryptocurrency, renewable energy, fin-tech, and search fund lending. We are committed to offering state-of-the-art APIs (application programming interfaces) for all business clients and BaaS (Bank as a Service) partners. Through our offerings, BankProv insures
Press Contact: Rachelle Petersen, Marketing Manager
Phone: (978) 407-4604
Email: rpetersen@bankprov.com
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