To our clients & members,
People work with people.
When folks ask about our experience with Silicon Valley Bank, I don’t think of a faraway bank in a valley I rarely visit, I think of Dennis, Matt and Tom.
I think of a cold, rainy Chicago day, when they listened to my vision, developed an understanding of our business, and earnestly leaned into finding where we have common ground to move forward together.
At Paytient, we’re in the business of providing certainty. Certainty for employers to ensure every person that they insure can effortlessly pay for care. For members, to have a feeling of certainty, or peace of mind, that they can carry in their wallets, year-round, in comfort knowing their employer also cares about their financial health if they get sick.
In order to provide that enterprise-grade level of certainty for nearly 700,000 people, Paytient manages this responsibility across multiple banking partners with layers of redundancy.
For years, Paytient diversified its cash management across multiple banking partners to ensure consistency of service across a range of unlikely scenarios. As I watched the winds of uncertainty get whipped up last week, we were grateful to be built upon the bedrock of our partnership with Commerce Bank, one of the safest banks in the country.
Despite the uncertainty last week, and thanks to the dedication and hard work of our engineering and product teams alongside counterparts at Commerce Bank, Paytient card members could rely upon flawless certainty of service without interruption.
As I’ve told our friends at SVB, the mistakes and mistrust caused by others won’t define them.
Nearly half of venture-backed startups, including Paytient, have a relationship with Silicon Valley Bank. We’ll maintain our relationship, as SVB rebuilds the trust it lost, because they have been the bank of choice for innovators in this country for 40 years and I believe, in the end, innovation always outruns fear.
Sincerely,
Brian Whorley
