Valley Reimagining Banking through Digital
Valley Bank (NASDAQ:VLY) is enhancing its digital banking capabilities to expand its services nationwide. The bank launched Valley Direct, offering a high-yield savings account accessible via a quick online application. Valley aims to transform by investing in technology and partnerships with Fintechs, emphasizing a transition from physical branches to a comprehensive digital ecosystem. New hires, including Chris Craver and Walt Cox, bring extensive experience in financial technology, focusing on product development and digital payment systems, respectively. This marks a pivotal step in Valley's commitment to providing superior financial services.
- Launch of Valley Direct, a high-yield savings account available to all U.S. residents.
- Investment in technology and partnerships with Fintechs to enhance digital services.
- New hires with extensive experience in digital financial services, likely improving product offerings.
- None.
Valley Bank, (NASDAQ:VLY), one of the largest regional banks in the U.S., is leveraging digital technology to reimagine banking, creating the vision and roadmap to deliver differentiated products and services with speed and agility. With a national charter, digital services enables Valley to reach markets beyond its current footprint in New York, New Jersey, Florida and Alabama.
“Valley is taking digital disruption seriously and embracing it through new products, services and partnerships,” said Ira Robbins, President and CEO. “Banks must move beyond physical branches and embrace the entire ecosystem. By investing in and working with Fintechs and other digital service companies, we are delivering best in class products to our customers, while maintaining our core value of being a relationship bank.”
The bank recently launched its online bank Valley Direct, premiering a high-yield savings account which is available to any U.S. resident 18 years of age or older. Through a fully digital application on desktop and mobile, customers can sign-up for an account in less than three minutes.
“Valley Bank is on a transformational journey to offer its best in class financial services nationwide,” said Stuart Cook, Chief Digital Products Officer. “We are the right sized bank, with the right thinking and we will deliver outsized impact.”
To execute this digital vision, Valley is expanding with professionals who bring extensive expertise in technology and financial services. Recently, Chris Craver joined as Senior Vice President, Head of Digital Products and Walt Cox came onboard as First Vice President, Director, Digital Payments.
Craver leads the product team at the intersection of business, technology and user experience. He will focus on accelerating Valley’s capabilities through the development and improvement of digital products and experiences. His 25 year career includes product and technology leadership roles at both startups and large companies, including Genentech, Varo Bank, Monitise, IBM and M&T Bank.
Cox joins Valley from Moov Financial where he was the Director of Business Development and Payments Strategy. At Valley, he is responsible for designing and building consumer and business payment products to drive meaningful payment experiences for the bank and its customers. Cox brings more than 10 years of product management and business development experience to Valley working for financial service firms and Fintechs including Rapyd, Redwood Credit Union, FIS and Insight Methods.
About Valley
As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately
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