FAIRFAX, Va.–(BUSINESS WIRE)–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 gives the Company access to the Fund’s blockchain “infrastructure”, such as blockchain-powered applications in the key service areas of lending, payments and exchange, as well as access to the JAM FINTOP network (the “Network”) of community banks. The company sees this significant investment as its latest effort to set customers up for success.
“We are excited about FVCBankcorp’s strategic investment in JAM FINTOP Blockchain. Our commitment to investing in innovative solutions such as the rapidly growing and invaluable blockchain technology infrastructure drove this decision,” said FVCbank Chairman and CEO David Pijor, Esq. “With this investment, We now leverage connections within the fund’s network to secure strategic partnerships with fintech startups.”
“Over the next decade, we believe that blockchain will become the dominant operating infrastructure in the financial system and look forward to helping our network members become early adopters of this transformational technology. In addition, we believe that the JAM FINTOP network can provide access to proprietary deal flow as entrepreneurs appreciate the tremendous value and touchpoints it provides.We appreciate the company’s investment and 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 pathways to improved operations within the financial infrastructure of the future by joining a group of over 90 banks with more than $1 trillion in combined assets. Taken together, the network will rank as the fifth largest commercial bank in the United States, providing enhanced strength through mutual support and resources.
This strategic investment in fintech is just the latest of many the company has made in recent years. In 2021 alone, the company made significant strides in harnessing the power of fintech to serve its customers. Notable fintech investments include the implementation of leading construction loan monitoring software that has improved compliance and accelerated 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 man 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 began operations in November 2007. FVCbank is a $2.3 billion asset size 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 DC metropolitan areas. Based in Fairfax, Virginia, FVCbank has nine full-service offices in Arlington, Fairfax, Manassas, Reston and Springfield, Virginia, Washington DC 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.
