SANTA CLARA, Calif.--(BUSINESS WIRE)--Modern Treasury, a payments operations software provider, and Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, today announced a referral agreement and new integration for automated payment operations to simplify the management of the entire cycle of money movement for fast-growing companies.
Modern Treasury’s payment operations platform enables companies to instantly close books with continuous accounting, manage payments via dashboard or API, and automatically reconcile cash across multiple bank accounts. Through a referral agreement, SVB and Modern Treasury will provide mutual clients with seamless access to process payments directly through their SVB bank accounts, enabling users to send, receive, reconcile and approve payments using SVB’s broad set of domestic and international payment methods and currencies.
"We are thrilled to partner with a bank like SVB that sits in the heart of the tech industry and has been partnering with the most exciting technology companies for decades," says Matt Marcus, Modern Treasury CPO and co-founder. "Together, we look forward to modernizing the payment operations function for shared customers through our simple, scalable and secure platform.”
“Innovative companies need financial services and products that allow them to work at full speed and focus on growing their businesses,” said Kathleen Pierce Gilmore, Head of Global Payments at Silicon Valley Bank. “This integration increases efficiency and provides transparency into the full payments process as well as specialized banking services tailored to fast-growth companies.”
"Working with SVB and Modern Treasury from the start has been a game changer for us,” said Aleksander Koenig, CEO and founder of Settle. “Not only are they some of the highest caliber people I've worked with, their tech stack has made it possible for us to grow 1,000x with ease. Any fintech should consider working with them, full stop."
Learn more and get started at svb.com/account/fintech/modern-treasury.
About Modern Treasury
Modern Treasury builds payments operations software that automates the full cycle of money movement—from payment initiation, through approvals, to reconciliation—all from one app and API. Enabling real-time payments, automatic reconciliation, and continuous accounting, Modern Treasury’s platform is used by customers in a diverse range of sectors, including real estate, health care, financial services, and marketplaces, and more, with monthly reconciliations on the platform in the billions. Founded in 2018, San Francisco-based Modern Treasury is backed by Altimeter, Benchmark, and Y Combinator.
About Silicon Valley Bank
For nearly 40 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.