Latest news with #FVBank
Yahoo
09-07-2025
- Business
- Yahoo
FV Bank unveils virtual accounts for payment automation
FV Bank, a US-regulated digital bank that focuses in both traditional and digital asset banking services, has introduced its new Virtual Account function, which is intended to assist businesses simplify and streamline the process of crediting incoming foreign and domestic payments. The Virtual Account tool enables entities to create unique, dedicated account numbers for each of their clients or counterparties. These statistics can then be utilised to automatically track and match incoming money, eliminating the need to perform manual reconciliation and greatly lowering the possibility of errors. Additionally, the solution accepts a wide range of payment methods, such as USDC stablecoin deposits, domestic wire payments, ACH transfers, and international SWIFT wires. Faster processing and more transparent tracking are made possible by the automatic attribution of each transaction to the appropriate counterparty. Miles Paschini, CEO of FV Bank stated: 'Our mission at FV Bank is to bring integrated accessibility and efficiency to modern banking. With the launch of Virtual Accounts, we are addressing a real pain point for our customers - automating the attribution of incoming funds and eliminating manual reconciliation, while materially improving our compliance capabilities. This feature empowers our clients to scale their operations with confidence, while maintaining the transparency and control they need in today's fast-moving global economy.' For many businesses, reconciling incoming payments from a large number of clients has long been a manual and error-prone task. FV Bank's new feature aims to eliminate that bottleneck. The Virtual Account structure also boosts the bank's compliance processes by boosting KYCC (Know Your Customer's Customer) capabilities, providing an additional layer of protection and transparency to transactional monitoring. Key features of the Virtual Account solution include: Unique virtual account numbers for each counterparty Support for incoming international wire (SWIFT), ACH, Domestic Wires and Stablecoin. Deposits API availability for integration into client platforms Robust reporting tools Enhanced KYCC and monitoring controls Furthermore, the new service is likely to benefit firms who handle big amounts of customer payments on a regular basis. This includes: Regulated businesses such as law firms, asset managers, and fintech's that require clear segregation and attribution of incoming client funds Marketplace and platform businesses, exchanges, and payment processors that need to efficiently reconcile high volumes of incoming payments As financial institutions and fintech companies battle with changing regulatory requirements and increasing payment volumes, technologies such as FV Bank's Virtual Accounts provide a modern answer to a long-standing operational difficulty. FV Bank waved it will continue to introduce technologies to help businesses operate more securely and efficiently in a globally linked, digital-first economy. "FV Bank unveils virtual accounts for payment automation" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Finextra
08-07-2025
- Business
- Finextra
FV Bank rolls out virtual accounts
FV Bank, the U.S. licensed digital bank offering a vertically integrated suite of traditional and digital asset banking and custody services, today announced the launch of its new Virtual Account feature, empowering business clients to automate and streamline the attribution of incoming international payments with unique, dedicated account numbers. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. With this feature, FV Bank customers can now pre-generate virtual account numbers for each of their clients or counterparties, enabling seamless automation of incoming payment attribution. Businesses can assign a unique virtual account number and deposit instructions to every client, ensuring that when a client sends a SWIFT wire, ACH, Domestic Wire or USDC Stablecoin to this virtual account, FV Bank automatically tags and attributes the deposit to the underlying counterparty. This solution addresses a longstanding challenge faced by businesses that receive payments from large customer bases of our clients or counterparties. Traditionally, matching incoming deposits to specific customers has been a time-consuming and error-prone process, often requiring manual reconciliation and creating operational overhead. FV Bank's Virtual Account feature eliminates these inefficiencies, helping businesses reduce reconciliation errors, minimize manual tracking, and make management of high-volume receivables processing more scalable. This Virtual Account structure also significantly improves FV Bank's compliance controls through enhanced KYCC (Know Your Customer's Customer), enabling FV Bank to improve its transactional monitoring and KYC structures. Key features of the Virtual Account solution include: • Unique virtual account numbers for each counterparty • Support for incoming international wire (SWIFT), ACH, Domestic Wires and Stablecoin. deposits • API availability for integration into client platforms • Robust reporting tools • Enhanced KYCC and monitoring controls 'Our mission at FV Bank is to bring integrated accessibility and efficiency to modern banking,' said Miles Paschini, CEO of FV Bank. 'With the launch of Virtual Accounts, we are addressing a real pain point for our customers—automating the attribution of incoming funds and eliminating manual reconciliation, while materially improving our compliance capabilities. This feature empowers our clients to scale their operations with confidence, while maintaining the transparency and control they need in today's fast-moving global economy.' A wide range of businesses stand to benefit from this solution, including: • Regulated businesses such as law firms, asset managers, and fintechs that require clear segregation and attribution of incoming client funds • Marketplace and platform businesses, exchanges, and payment processors that need to efficiently reconcile high volumes of incoming payments FV Bank continues to deliver forward-thinking solutions that help businesses operate more efficiently and securely in the global digital economy.
National Post
08-07-2025
- Business
- National Post
FV Bank Introduces Virtual Accounts for Enhanced Fund Attribution in International and Domestic Payments Transactions
Article content SAN JUAN, Puerto Rico — , the U.S. licensed digital bank offering a vertically integrated suite of traditional and digital asset banking and custody services, today announced the launch of its new Virtual Account feature, empowering business clients to automate and streamline the attribution of incoming international payments with unique, dedicated account numbers. Article content With this feature, FV Bank customers can now pre-generate virtual account numbers for each of their clients or counterparties, enabling seamless automation of incoming payment attribution. Businesses can assign a unique virtual account number and deposit instructions to every client, ensuring that when a client sends a SWIFT wire, ACH, Domestic Wire or USDC Stablecoin to this virtual account, FV Bank automatically tags and attributes the deposit to the underlying counterparty. Article content This solution addresses a longstanding challenge faced by businesses that receive payments from large customer bases of our clients or counterparties. Traditionally, matching incoming deposits to specific customers has been a time-consuming and error-prone process, often requiring manual reconciliation and creating operational overhead. FV Bank's Virtual Account feature eliminates these inefficiencies, helping businesses reduce reconciliation errors, minimize manual tracking, and make management of high-volume receivables processing more scalable. Article content This Virtual Account structure also significantly improves FV Bank's compliance controls through enhanced KYCC (Know Your Customer's Customer), enabling FV Bank to improve its transactional monitoring and KYC structures. Article content Key features of the Virtual Account solution include: Article content 'Our mission at FV Bank is to bring integrated accessibility and efficiency to modern banking,' said Miles Paschini, CEO of FV Bank. 'With the launch of Virtual Accounts, we are addressing a real pain point for our customers—automating the attribution of incoming funds and eliminating manual reconciliation, while materially improving our compliance capabilities. This feature empowers our clients to scale their operations with confidence, while maintaining the transparency and control they need in today's fast-moving global economy.' Article content A wide range of businesses stand to benefit from this solution, including: Article content Regulated businesses such as law firms, asset managers, and fintechs that require clear segregation and attribution of incoming client funds Marketplace and platform businesses, exchanges, and payment processors that need to efficiently reconcile high volumes of incoming payments Article content FV Bank continues to deliver forward-thinking solutions that help businesses operate more efficiently and securely in the global digital economy. Article content About FV Bank Article content FV Bank is a fully licensed and regulated U.S. digital bank offering a vertically integrated suite of digital asset and traditional banking services. With a focus on innovation, security, and compliance, FV Bank is Banking the Future by providing USD banking, digital asset custody services, money market accounts, Visa debit cards, and Stablecoin deposits and conversions, all accessible via a single, unified platform. Article content Article content Article content
Forbes
25-04-2025
- Business
- Forbes
Crypto-First Banks Are Coming To Shake Up The Banking World
Crypto banks look set to redefine the banking sector in 2025 The Federal Reserve is the latest U.S. regulator to clear the path for crypto banking to enter the mainstream, so let's take a look at where the market stands and how it might evolve. One of the implications of the pro-crypto policies pursued by the Trump administration is that the banking sector is positioned to undergo a transformation via both the expansion of crypto friendly banks as well as the launching of multiple crypto-native banks. As of this writing the only federally chartered crypto operating in the U.S. is Anchorage Digital Bank NA, with other efforts such as those launched previously by Paxos National Trust and Protego National Trust having faced obstacles at the federal level. One other institution of note is FV Bank, which operates as a U.S. licensed digital bank, providing a platform where clients can manage both traditional USD accounts and cryptocurrencies. FV Bank services encompass digital asset custody, traditional banking services like payments, and support for various stablecoins. Even in face of state-based efforts such as in Wyoming the regulatory outlook has remained challenging since cryptoassets first became a mainstream financial markets topic; these icy market conditions seem set to finally begin thawing. To understand the importance of such developments in the U.S. banking industry crypto investors and advocates would be well served to reflect on how crypto banking hopefuls were treated in the past. One notable example is the ongoing legal battle between Custodia and the Federal Reserve, following multiple denials for inclusion in the Federal Reserve system despite substantial efforts by the firm to satisfy previously stated requirements. Despite these setbacks, in March 24 the firm partnered with Vantage Bank to tokenize U.S. dollar demand deposits on Ethereum via ERC-20; the appetite and interest in tokenized payments continues to accelerate. In short the U.S. banking landscape has proven to be difficult, if not outright hostile, to crypto-native institutions, but this has not stopped innovation and the creativity in the space. As this outlook continues to pivot to a more hospitable one, let's take a look at what this means for crypto investors going forward. One of the missing pieces of the cryptoasset ecosystem has been the lack of ability for investors to generate yield from investments and/or holdings. Notable collapses and potentially fraudulent activity that have occurred at various DeFi and stablecoin protocols in the past have not helped in the effort to develop legitimate options for investors. Most recently, Resolv Labs closed a $10 million seed round to not only expand a crypto-native yield platform utilizing the USR stablecoin, which amplifies the influence of the $450 DeFi protocol of the same name. Other crypto leaders such as Circle, via its announced plans to go public, have ignited conversations about the possibility of distributions from stablecoin issers to future investors. Especially for banking institutions looking to offset some of the price and regulatory volatility that comes with the space, the ability to generate yield is an essential part of this plan. Interest generating cryptoassets also have the potential to entice institutional investors to support crypto-native banks, whose more patient capital will not be as volatile as retail investors can be during periods of uncertainty. Having an additional income stream will also elevate another subset of the cryptoasset sector to even higher prominence than had already been achieved; stablecoins. One of the few areas that comprehensive legislation has moved forward to any extent, least of all to the significant manner the STABLE and GENIUS acts have, is legislation pertaining to stablecoins. This makes sense for a number of reasons. First, stablecoins are intrinsically a straight-forward on-ramp for TradFi institutions, retail investors to gain exposure to the crypto space, highlighted by the reduced volatility that many such instruments provide. Second, recent efforts by Circle indicating its intent to go public and expand partnerships with U.S. banks build on similar efforts in the European Union. Notably, Societe Generale-Forge is planning to update its EUR Convertible stablecoin to comply with MiCA regulations as ING reportedly works on a stablecoin project as well. Stablecoins provide an almost tailor-made method for financial institutions to enter the crypto sector, have regulations that have passed (in the European Union) or are making significant progress (in the U.S.) and also provide the institutions a vehicle to duplicate the interest bearing accounts that have become more enticing given the higher rates of the post-COVID era. In addition, for audit and bank examination purposes, stablecoins promise transparency and fungibility that have proven difficult to duplicate with other existing crypto instruments. The evolution of the cryptoasset ecosystem continues to accelerate in new, and somewhat unexpected directions, as consolidation and greater integration with the TradFi space look set to dominate the market in 2025 and beyond. Stablecoins, providing stability, traceability, auditability, and yield (income) potential for institutional players and customers alike, look well positioned to play a leading role in crypto banking growth moving forward.
Associated Press
11-02-2025
- Business
- Associated Press
FV Bank Expands Leadership Team to Propel Next Phase of Growth
FV Bank, the digital bank offering a vertically integrated suite of traditional and digital asset banking and custody services, today announced two key leadership appointments to accelerate its growth across global markets. These strategic additions to the leadership team reflect FV Bank's continued commitment to delivering innovative enterprise banking solutions for international SMEs. David Carter joins FV Bank as Head of Card Programs. In this role he will spearhead the development and execution of FV Bank's card programs, ensuring seamless integration with FV Bank's other fintech offerings. Carter brings over 17 years of extensive banking experience, with particular expertise in Banking as a Service (BaaS), fintech, and payments. Prior to joining FV Bank Carter served as VP, Director of Implementation at Metropolitan Commercial Bank (MCB) for BaaS and fintech clients. Before MCB, Carter held executive roles including Director of Enterprise Banking at Echo Payment Systems and VP, Director of Client Operations at Republic Bank. 'David's deep understanding of fintech and payments, coupled with his proven track record in program development, makes him an ideal leader for our card programs,' said Miles Paschini, CEO of FV Bank. 'We look forward to his contributions in driving our growth and delivering exceptional value to our clients.' Kenneth Fox joins FV Bank as Head of Business Development — Americas. With more than 30 years of industry experience, Fox will drive strategic partnerships and expand the bank's presence across the Americas. Prior to joining FV Bank, Fox held executive positions at Paysign and Metropolitan Commercial Bank where he served as Vice President, Director of Business Development, Global Payments Group. Earlier in his career he held various leadership positions at Pathward and at Republic Bank including as Vice President, Director of Prepaid Business Development. 'Kenneth is a seasoned executive with extensive and diversified achievements in banking. We're delighted to welcome him on board to lead our business development efforts in the Americas and help us unlock new opportunities in those markets,' said Paschini. 'We are thrilled to welcome two outstanding new senior executives to our team whose extensive industry knowledge and passion for fostering strategic partnerships align perfectly with our vision for further expansion.' About FV Bank FV Bank is a fully licensed and regulated U.S. digital bank offering a vertically integrated suite of digital asset and traditional banking services. With a focus on innovation, security, and compliance, FV Bank is Banking the Future by providing USD banking, digital asset custody services, money market accounts, Visa debit cards, and stablecoin deposits and conversions, all accessible via a single, unified platform. David Lewis SOURCE: FV Bank Copyright Business Wire 2025. PUB: 02/11/2025 09:21 AM/DISC: 02/11/2025 09:21 AM
