It's been awhile since we posted about API Banking, but that's because of how busy we’ve been shipping code. Since its forward-thinking acquisition of Standard Treasury, SVB has started to provide a uniquely valuable capability to its customers: programmatic access to banking transactions. Since our last post, we have launched new APIs to help SVB clients programmatically open bank accounts, send payments using the credit card network, and send payments using the automated clearing house (ACH) network.
The goal for API Banking this year is to develop a broad array of APIs. A critical part of this is validating that we
- build products that you want; and,
- ensure those products are easy to use.
We always want your feedback about our APIs - the good, the bad, and the ugly.
Last year we began transforming SVB banking into an open platform. We have recently partnered with Stripe to launch Atlas. Atlas provides entrepreneurs from around the world with the pieces they need to launch a business, from incorporation documents to a bank account. Atlas leverages the SVB Onboarding API to programmatically open bank accounts and provision banking products for Atlas users.
To push our SVB open platform forward, we are dramatically increasing the capabilities exposed over API. In 2017, those capabilities are expected to include
- More payment rails (wire payments, spot trading, disbursements)
- Account information (account balances, transaction details)
- Fraud prevention (fraud controls within our API)
- Developer tools (developer portal, analytics)
We will be writing a monthly blog series to provide you more insight into our design process, technical approach, and roadmap. To receive our blog posts, learn how to use our products, or provide feedback, please subscribe here.