FV Bank introduces first API to increase automation of its payments and data services
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FV Bank introduces first API to increase automation of its payments and data services 22 February 2022US Reporter: Jenna Lomax
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FV Bank, the US bank for digital asset banking and custody services, has introduced its first application programming interface (API) to advance bank automation and integration for its clients’ operations.
FV Bank’s API will enable firms to scale their operations through automating data flows and payments systems.
The API will streamline payments including ACH, Domestic Wire, international wires and internal transfers using FVNet, the FV Bank framework. Compliance functions will automatically run in the background, including sanctions screenings to ensure anti-money laundering compliance.
The new API also provides real-time notifications for incoming and outgoing payment and transaction reconciliation — creating a better experience for both firms and their customers, says FV Bank.
FV Bank’s API will also enable clients to integrate banking solutions into their own fintech and blockchain applications.
The API facilitates instant transfer of funds to their customers’ FV Bank Account enabling real- time payouts and, when permissioned, to request funds from a customer’s FV Bank account and access balance and transaction history data.
Future releases of the API will include integration with FV Bank’s digital asset trust and custody services.
Miles Paschini, co-founder and CEO at FV Bank, says: “Our new API will allow customers to seamlessly integrate payments and banking into their platforms and improve customer experiences. Our goal is to vertically integrate and provide the regulatory and compliance functions of a bank and also deliver the tech solutions directly to our customers.”
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