Direct File Transmission
Automate And Streamline Your Global Payments And Liquidity Management
SVB Transact Gateway, our direct transmission solution, streamlines your back-office operations by integrating directly with your back-office system, accounting software or ERP. By securely transmitting domestic and global payment instructions to SVB for processing, Transact Gateway simplifies your payments process, and helps improve your cash positioning and global liquidity management.
How Transact Gateway works
Transact Gateway supports the automation of payables as you grow and move beyond web- or paper-based payment solutions.
- Generate and approve payment files using your existing back-office system, accounting software, or ERP.
- Transmit your payment files using secure FTP with maker/checker release controls available through Transact Gateway.
- SVB executes your payments in your preferred payment method1 and provides you with status updates, if available, so you can track who you’ve paid.
Improve account reporting and reconcilement
Transact Gateway automates delivery of account balance and transaction data to avoid manual processes and expedite access to vital information. Receive files in industry standard or custom formats at intervals to accommodate your specific needs. Gain greater visibility into cash position and receivables throughout the day with frequent intraday file deliveries. Simplify account reconciliation by receiving end-of-day, weekly or monthly statement files.
Key benefits of using direct transmission
Transact Gateway is designed to improve your current back-office operations, while helping you scale your payments processing for future growth.
Operational efficiency and cost savings:
- Eliminates or reduces time-consuming, paper-based processes
- Reduces errors and increases staff productivity through automation
- Consolidates different types of payments in a single file
- Provides better visibility and communication with suppliers through real-time information reporting
Enhanced security and controls:
- Provides additional maker/checker controls where needed
- Expedites conversion of paper-based payments to electronic formats—including Virtual Card Numbers (VCNs)1—to help reduce fraud
- Supports Sarbanes-Oxley and Basel III governance needs
Better cash positioning and forecasting:
- Accelerates the visibility of account balances and transactions2
- Supports automated daily account reconciliation
- Supports a variety of industry standard or custom file formats
1 Not all payments are available. VCNs are only available for some U.S.-based domestic payments.
2 For any deposit account serviced through SVB's London- or U.S.-based branches, and some deposit accounts held at other financial institutions where those banks report your balances to SVB through S.W.I.F.T.
In relation to the Financial Services Compensation Scheme, please ensure that you review the important information on depositor preference that affects clients of Silicon Valley Bank in the UK.
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