SVB's latest solutions and a new State of the
Fintech Industry Report available at Money20/20
MONEY20/20 LAS VEGAS, Oct. 23,
2023 /PRNewswire/ -- Fully committed to supporting
its clients and the innovation economy, Silicon Valley Bank, a
division of First Citizens Bank, is showcasing a series of new
products and services this week at the annual financial services
Money20/20 event in Las Vegas. Since its acquisition by First
Citizens Bank in 2023, SVB continues to deliver and invest in new
digital solutions, such as its digital banking platform SVB Go, new
efficiency tools including travel and expense management, and
curated tech stack partnerships to support the ongoing operations
and growth of its clients. SVB's unmatched capabilities continue to
uniquely meet the demands of the innovation ecosystem.
"SVB has a rich history of delivering innovation economy
expertise, customized solutions and high-impact business
connections. Today, we're continuing to build on that 40-year
history with even more powerful digital solutions, and products and
services that support clients end-to-end," said Gagan Kanjlia, Chief Product Officer of Silicon
Valley Bank. "Our clients need the ability to move quickly to grow
their businesses, which underlies our continued investments in the
tech-forward financial solutions that will help them meet their
ambitious goals. Joining forces with First Citizens has enabled us
to accelerate our solution roadmap."
SVB's transition to its enhanced online banking platform, SVB
Go, is underway. The platform has been rolled out to tens of
thousands of clients to date and is expected to reach all clients
in 2024, simplifying and streamlining how they conduct day-to-day
treasury management. SVB Go, being demoed at Money20/20, was built
as a simple and secure way to manage cash flow, issue border and
international payments, build custom reports in real-time and
mitigate risk proactively, via an intuitive digital platform.
SVB has several additional new and updated products rolling out
in 2023:
- NEW SVB Travel & Expense Management Platform
to improve cash flow with more control over expenses at no extra
cost, including streamlined pre-approvals and reimbursements
- NEW Embedded Finance Solutions to facilitate
payments and manage money movement on behalf of business customers,
capturing new revenue
- NEW SVB Offers bringing a curated set of leading
business services to help startups operate at a discount
- NEW Real-Time Digital Onboarding, revamped to offer
prospects context, clarity and simplicity throughout a streamlined
application experience
In early 2024, SVB will launch Real-Time Payments (RTP)
origination functionality ("Send") via its API Banking channel,
enabling instant payouts for marketplace sellers and gig workers;
instant settlement for payment facilitation sub-merchants; instant
loan funding and disbursements; faster on-behalf-of payment flows
for third-party payment processors; and a host of other use cases
to support the innovation economy. SVB joined the Clearing House
RTP network in 2022 and currently offers the RTP Receive capability
to all commercial clients.
With a 40-year history dedicated to the innovation economy, SVB
provides banking services, debt-financing solutions
expertise and connections to companies and investors. SVB also
continues to provide valuable research, perspectives and analysis
on current trends and market conditions, offering actionable
insights to its clients and partners.
A leader in providing market insights about the innovation
economy, SVB recently released its latest report, The State of
Fintech. The report provides analysis on the latest
investment, fundraising and deal activity across the sector.
Access the full report on svb.com.
Learn more about SVB's product platform by visiting booth #9200
at Money20/20.
About Silicon Valley Bank
Silicon Valley Bank (SVB), a
division of First Citizens Bank, is the bank of some of the world's
most innovative companies and investors. SVB provides commercial
and private banking to individuals and companies in the
technology, life science and healthcare, private equity, venture
capital and premium wine industries. SVB operates in centers of
innovation throughout the United States, serving the unique
needs of its dynamic clients with deep sector
expertise, insights and connections. SVB's parent company,
First Citizens BancShares, Inc. (NASDAQ: FCNCA ), is a top 20
U.S. financial institution with more than $200 billion in assets.
First-Citizens Bank & Trust Company, Member FDIC. Learn more at
svb.com.
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SOURCE Silicon Valley Bank