Embedded banking is expanding as fintechs and payment platforms seek to provide accounts and payment services without building their own banking infrastructure.
FV Bank, regulated U.S. digital bank and financial infrastructure platform, has just launched Global Managed Accounts (GMA), an embedded finance service that allows eligible fintech and payment-platform customers to offer FV Bank accounts and payment capabilities through their own products and brands.
Under the GMA model, business and individual customers can open accounts directly with FV Bank through a partner’s platform. FV Bank holds and manages the accounts and the associated regulated banking relationship, while the fintech or payment platform controls the front-end experience and customer relationship.
FV Bank provides the infrastructure for customer onboarding and compliance, including KYC, KYB, transaction monitoring and ongoing account reviews. The service also includes processes for payment traceability and information sharing related to applicable Travel Rule requirements. The service provides both business and individual account types. FV Bank manages KYC, KYB and KYT processes, ongoing monitoring and regulatory compliance. Partners can use a dedicated portal to onboard customers, manage accounts and review account activity.
GMA is designed for businesses offering domestic and international accounts, cross-border payments, remittances and stablecoin-enabled money movement. According to FV Bank, the service supports payments across more than 180 countries and more than 40 currencies.
Product features include USD domestic and international wire transfers, ACH and cross-border payments in more than 40 currencies. The service also supports USDC and USDT transfers, with 24/7 settlement across supported payment rails.
“It can take years for a fintech company to navigate the banking, payments and compliance infrastructure needed to bring a financial product to market,” said Miles Paschini, CEO of FV Bank. “Global Managed Accounts gives our partners a faster way to launch, reach more customers and expand what they offer in domestic and international markets, while FV Bank provides the regulated accounts, payments and compliance infrastructure behind the scenes.”
“Fintechs shouldn’t have to choose between a seamless customer experience and a clear, bank-managed compliance foundation,” added Nitin Agarwal, chief revenue officer of FV Bank. “We’re already onboarding fintechs to GMA, bringing accounts, domestic and international payments, and compliance infrastructure together on one platform. It gives our partners a more complete product while reducing the complexity of managing multiple banking and payment relationships.”
GMA follows the launch of Stablecoin Invoicing and is the second product introduced on FV Bank’s expanded financial infrastructure platform. The service is available to approved fintech and blockchain enterprise clients.
