Silicon Valley Bank teams up with Plaid

Monday 20 September 2021 13:16 CET | News

Silicon Valley Bank (SVB) and Plaid have announced a partnership to allow clients to authenticate bank account information with Plaid and generate payments via a tokenized payment solution. 

The joint solution connects Plaid's instant account verification and SVB's ACH API functionality through a tokenized system to minimise the handling of beneficiaries' sensitive bank data. Together, Plaid and SVB give clients a way to process payments directly from their SVB accounts.

The integration also enables joint clients to be compliant with Nacha requirements related to fraud detection standards for WEB debits and data security.  

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Keywords: banks, partnership, online authentication, ACH
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: United States
This article is part of category

Securing Transactions