The entire technology industry and world is watching as the fallout from the unfortunate collapse of Silicon Valley Bank (SVB) has had wide-ranging effects throughout the technology and startup ecosystem.
Transparently, while impact.com did have a banking relationship with SVB, we also work across several banking partners and are not adversely affected. We have communicated new deposit instructions to any customers depositing money into SVB; updating the new deposit information is the only action required at this time, and we expect deposits and payments to flow through our systems as they normally would.
Based on the latest information from the Federal Reserve Board, we are optimistic that all affected businesses will fully recover from this event. impact.com has led the industry with innovative technology and thought leadership, and by remembering that our customers are our true north. We aim to continue providing you with the best technology for partnerships and business growth.
We realize this situation continues to evolve and will work with any clients who may have financial concerns of their own, related or unrelated to SVB. If we can help in any way, we want to. We are partners first and foremost and our clients’ success is also ours. Thank you for your continued business and we look forward to communicating any new updates as quickly as we can.
David A. Yovanno