Valley National Bank has announced the launch of Valley Foundry, a new technology and innovation capability designed to accelerate the adoption of emerging tech, streamline the path from experimentation to execution, and expand the bank’s engagement with startups, fintechs, and venture capital firms.
Industry veteran Michael Rappaport has been appointed to lead the new initiative. Rappaport brings extensive background in banking strategy and innovation, having previously led Capco’s Banking & Payments practice for the New York metropolitan area and held emerging technology roles at HSBC—including shaping early quantum computing strategies.
As head of Valley Foundry, Rappaport will oversee internal and external partnerships, direct intake and governance processes, and build out a portfolio focused initially on artificial intelligence, cybersecurity, data and analytics, and operational efficiency.
“The difference between an idea and innovation is execution,” Rappaport said. “Valley Foundry is designed to create a highway between Valley and the startup, fintech, and venture communities. We want founders and technology companies to know there is a team at Valley that can help them navigate the bank, identify the right business opportunity, test their technology and, when appropriate, evaluate opportunities for potential implementation.”
Valley Foundry acts as the bank’s central execution engine, integrating several existing technology-focused platforms:
- Tech & International Banking Team: Led by Ori Kaufman Gafter, connecting tech founders and investors with banking services as they scale.
- Valley Ventures: The bank’s corporate venture capital arm, investing in early-stage venture-backed companies.
- Partner Banking: Delivering specialized banking solutions to digital channels, fintechs, and financial service innovators.
- Internal AI Team: Driving practical AI development, cloud infrastructure, and application engineering to support fraud prevention and process automation.
“Technology is changing at an extraordinary rate, and Valley is focused on staying on the front foot by actively engaging with the ideas, companies, and technologies driving that change,” said Russ Barrett, Chief Operating Officer of Valley Bank.
With over $66 billion in assets, Morristown-headquartered Valley National Bank operates more than 220 branch locations and commercial offices across New Jersey, New York, Florida, Alabama, California, Illinois, Pennsylvania, and Arizona.
