FV Bank Introduces Virtual Accounts for Enhanced Fund Attribution in International and Domestic Payments Transactions

FV Bank‘s virtual accounts are now available, streamlining how businesses handle both international and domestic payment flows. This solution gives you more clarity and control over high-volume financial transactions by improving fund attribution and automating reconciliation.

With this feature, FV Bank customers can now pre-generate virtual account numbers for each of their clients or counterparties, enabling seamless automation of incoming payment attribution. Businesses can assign a unique virtual account number and deposit instructions to every client, ensuring that when a client sends a SWIFT wire, ACH, Domestic Wire or USDC Stablecoin to this virtual account, FV Bank automatically tags and attributes the deposit to the underlying counterparty.

This solution addresses a longstanding challenge faced by businesses that receive payments from large customer bases of our clients or counterparties. Traditionally, matching incoming deposits to specific customers has been a time-consuming and error-prone process, often requiring manual reconciliation and creating operational overhead. FV Bank’s Virtual Account feature eliminates these inefficiencies, helping businesses reduce reconciliation errors, minimize manual tracking, and make management of high-volume receivables processing more scalable.

The introduction of FV Bank virtual accounts makes global and local fund flows more open and automated, improving operational efficiency for clients.

This Virtual Account structure also significantly improves FV Bank’s compliance controls through enhanced KYCC (Know Your Customer’s Customer), enabling FV Bank to improve its transactional monitoring and KYC structures.

Key features of the Virtual Account solution include:

• Unique virtual account numbers for each counterparty
• Support for incoming international wire (SWIFT), ACH, Domestic Wires and Stablecoin. deposits
• API availability for integration into client platforms
• Robust reporting tools
• Enhanced KYCC and monitoring controls

‘Our mission at FV Bank is to bring integrated accessibility and efficiency to modern banking,’ said Miles Paschini, CEO of FV Bank. ‘With the launch of Virtual Accounts, we are addressing a real pain point for our customers—automating the attribution of incoming funds and eliminating manual reconciliation, while materially improving our compliance capabilities. This feature empowers our clients to scale their operations with confidence, while maintaining the transparency and control they need in today’s fast-moving global economy.’

A wide range of businesses stand to benefit from this solution, including:

• Regulated businesses such as law firms, asset managers, and fintechs that require clear segregation and attribution of incoming client funds
• Marketplace and platform businesses, exchanges, and payment processors that need to efficiently reconcile high volumes of incoming payments

FV Bank continues to deliver forward-thinking solutions that help businesses operate more efficiently and securely in the global digital economy.

With FV Bank virtual accounts, the bank stays true to its mission of providing modern financial systems with cutting-edge payment options.