FV Bank has launched a new virtual account feature aimed at simplifying the process of attributing incoming payments for businesses handling large volumes of transactions.
FV Bank is a US-regulated financial institution providing both digital asset custody and traditional banking services on a unified platform. The financial institution stated the tool is now available to its institutional clients, providing each of their customers or counterparties with a unique account number for more efficient fund tracking.
This development allows business clients to generate dedicated virtual account numbers in advance, assigning them to individual payers. As a result, incoming funds, whether through SWIFT wires, ACH, domestic wires, or USDC stablecoin transfers, can be automatically attributed to the appropriate end client. The system removes the need for manual reconciliation, a task that has historically presented operational inefficiencies for businesses managing multiple payments.
Improved compliance and integration capabilities
The virtual account infrastructure also supports broader compliance objectives. By improving visibility into the origin of funds, the feature strengthens FV Bank’s Know Your Customer’s Customer (KYCC) procedures and enhances transactional monitoring. According to FV Bank officials, this enables more robust risk controls and bolsters overall anti-money laundering measures.
The offering includes API availability for integration into client systems, as well as reporting tools designed to support automated receivables management. According to company representatives, the structure is particularly relevant for entities such as fintechs, legal firms, payment processors, and platforms dealing with segregated customer accounts or high-volume inflows.
Officials from FV Bank noted that the virtual account feature is intended to address persistent challenges faced by businesses that receive funds from multiple clients. They explained that by automating attribution and improving internal compliance processes, the tool offers both operational and regulatory benefits.
