Modern Treasury announces formal partnership with Silicon Valley Bank

By Pavithra R

Modern Treasury, a payments operations software provider, has announced a referral agreement and new integration for automated payment operations with Silicon Valley Bank, a leading provider of a range of banking services to companies of all sizes in innovation centers around the world, to simplify the management of the entire cycle of money movement for fast-growing companies.

“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. Together, we look forward to modernizing the payment operations function for shared customers through our simple, scalable and secure platform,” said Matt Marcus, Modern Treasury CPO and co-founder.

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.

“Innovative companies need financial services and products that allow them to work at full speed and focus on growing their businesses. This integration increases efficiency and provides transparency into the full payments process as well as specialized banking services tailored to fast-growth companies,” said Kathleen Pierce Gilmore, Head of Global Payments at Silicon Valley Bank.

Established in 1983, Silicon Valley Bank (SVB) helps innovative companies and their investors move bold ideas forward, fast. It provides a full range of financial services and expertise to companies of all sizes in innovation centers around the world.