The deal sees the deployment of automated payment operations, which will simplify the management of “the entire cycle of money movement”, the two firms say.
SVB and Modern Treasury will provide mutual clients with processing directly through their SVB bank accounts.
Users can send, receive, reconcile and approve payments using SVB’s 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,” says Matt Marcus, Modern Treasury chief product officer and co-founder.
