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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