Silicon Valley Bank is planning to release new API banking services over the coming months....this would enable them lead the tech revolution The Standard Treasury team will now help accelerate that.
Silicon Valley Bank has picked up some help from a Y Combinator startup that had been trying to build its own bank. Standard Treasury founders Daniel Kimerling and Zachary Townsend were trying to build a bank with software code in its DNA that would work with fintech startups. They called this an "API-first" bank, referring to the software code building blocks that have greatly eased adding features to apps. Get the free daily TechFlash Silicon Valley newsletter. "Behind every fintech application is a wholesale bank," was one of their first claims in Standard Treasury's Series A pitch deck, listing Stripe, Braintree, Wealthfront, Prosper and Betterment as examples.