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ALL PAYMENT SYSTEMS OPERATING AT 100% CAPACITY

We want to first confirm that Silvergate’s wire system capabilities are back to full strength after the challenges of the past week. We were first notified early Friday morning, March 20, by our payments service provider (Finastra) that anomalous activity had been detected within their network. The nature of this activity prompted a voluntary action by Finastra to bring all their servers offline. Our initial response was to understand any risk to Silvergate and our customers and restore wire transfer capabilities as soon as possible. To that end, all services and connectivity were restored as of Monday evening, March 23. 

Finastra engaged the services of CrowdStrike, a forensic investigation firm, who has confirmed there is neither evidence nor indication of data exfiltration, nor is there any risk to external customer systems or information.  We are working with Finastra to obtain a certification confirming this directly.  Further, there is no evidence nor indication that re-activating B2B connections between Finastra and Silvergate posed a threat to Silvergate’s enterprise. Finastra continues to provide updates including initial information about the root cause of this incident and additional steps taken to investigate and triage the event.

Please reach out to your Private Client Manager and service teams for any additional questions at [email protected] or [email protected]

 

Silvergate Bank