07/12/2023

Divvying Up the Silicon Valley Bank Pie

When the San Francisco-based neobank Mercury launched in 2019, it wanted to offer a better way for startups to bank. “I was always frustrated with the banks we had to use as entrepreneurs,” says Mercury Founder and CEO Immad Akhund, who says he’s been working in the startup space since 2006. He believes most banks offer “outdated” products and services. “Especially for tech-enabled businesses, they’re not going to bank branches. They’re dealing with their bank on an app, on a website.” They don’t like fees, he adds, and they want to use application programming interfaces (APIs) that connect to accounting…

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WRITTEN BY

Emily McCormick

Vice President of Editorial & Research

Emily McCormick is Vice President of Editorial & Research for Bank Director. Emily oversees research projects, from in-depth reports to Bank Director’s annual surveys on M&A, risk, compensation, governance and technology. She also manages content for the Bank Services Program. In addition to regularly speaking and moderating discussions at Bank Director’s in-person and virtual events, Emily regularly writes and edits for Bank Director magazine and BankDirector.com. She started her career in the circulation department at the Knoxville News-Sentinel, and graduated summa cum laude from The University of Tennessee with a bachelor’s degree in Spanish and International Business.

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