Why we switched to Silicon Valley Bank

Industry Guides

In 2014, WebsiteAlive chose a new banking partner: Silicon Valley Bank. We’d been with Wells Fargo for seven or eight years, and we couldn’t shake the feeling that we were just a set of numbers on a ledger to them. Worse yet, it was becoming increasingly apparent that they didn’t really understand the tech world as well as we would have liked. If you’d have asked them what we did here at WSA, there would have been a lot of mumbling and hand-waving. Luckily, we had other options.

“Silicon Valley Bank only takes on people in technology,” says WebsiteAlive CEO Adam J. Stass. “So when they reached out to us, we were very grateful and excited to start working with them. Within 30 to 45 days, we knew we made the right decision based on how they’ve helped us out.”

A tech-specific bank works differently than a mainstream bank in three different ways: (1) the pace is faster because the bankers don’t need technical information explained to them; (2) a bank that serves technology businesses understands our profitability model better; and (3) Silicon Valley Bank’s products and services in particular are scalable, so they will continue to be a trusted partner as we continue to globalize and grow.

This blog post echoes our experiences:

Tech funding: Can your bank make the Kessel Run in less than 12 parsecs?

Transferring our core to a different bank was a daunting proposition because we work on a SaaS model and we couldn’t afford any hiccups. But we were surprised and delighted by how smooth the transition was.

“It’s such an improvement to get treated like a person and not a number,” says Stass. “More than anything, just that they understand our world—that’s very important to us.”

No Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Alive Blog
Simply Making the “Chat Now” Option More Noticeable Than an 800 Number Will Cause More Consumers to Naturally Move Toward Your Product

One thing the Internet didn’t do away with is the demand for customer service.  Some early e-retailing visionaries saw a huge opportunity,  a brave-new-Internet retail world where customers didn’t need to talk to retailers; that hasn’t happened. And, so, the challenge to online retailers has been how to fill customers’ …

Alive Blog
Online Retail Businesses are Booming Thanks to Live Chat

Live chat has become such an essential tool for online retail businesses as users find it more trustworthy due to the human contact aspect.  We are creatures of habit and we, as consumers, have grown impatient.  We want a quick fix whether it’s food we are after (fast food) or …

Industry Guides
Go Social By Adding AliveChat To Your Facebook Fan Page!

Add Live Chat To Your Fanpages! We want to help your business go social! WebsiteAlive now integrates easily into your Facebook Fanpages.