Silicon Valley Bank Launches Improved Digital Banking Platform

Silicon Valley Bank (SVB), which became the unit of First Citizens Bank after its resonant collapse in March 2023, presented several new products and services.

Silicon Valley Bank Launches Improved Digital Banking Platform

The press release of this financial institution, which is not nowadays an independent organization, indicates that after entering the ownership structure of the current possessor, SVB continued to direct investments in digital solutions and efficiency improvement tools.

One of the new proposals of the bank is an improved SVB Go platform, which tens of thousands of consumers can currently use. It is expected that by the end of 2023, this platform will be available to the entire customer base. This digital product provides an opportunity to manage cash flows, make payment transactions, and reduce the level of risk associated with the use of finance.

SVB’s travel and expense management platform improves cash flow. In this case, customers are provided with a high level of control over expenses.

Embedded financial solutions simplify payment operations and facilitate the movement of money on behalf of business customers, which contributes to the emergence of new sources of income.

The bank has also updated the process of digital adaptation in real-time. In this case, the simplified experience of working with apps is available to customers.

SVB Offers provides consumers with a set of business services. These solutions help startups work at a discount.

The press release also contains information that SVB plans to launch the function of sending payments in real-time through its API banking channel by 2024.

As we have reported earlier, SVB Financial Sues to Recover $1.9 Billion From FDIC.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.