blocktribune.com
Puerto Rico based FV Bank, a licensed digital bank and digital asset custodian, has announced its strategic investment in open banking platform DIRO.
FV Bank seamlessly integrates traditional banking services with digital asset management. Licensed and regulated by the Office of the Commissioner of Financial Institutions (OCIF), FV Bank aims to support the growth and unique requirements of Fintech and blockchain companies including exchanges, OTC desks, Liquidity Providers and their clients with products ranging from traditional banking and payments services to digital asset custody and Visa card issuance.
Headquartered in New York, DIRO claims to be the first open banking platform to offer full global coverage. DIRO’s platform provides financial institutions, payment providers, crypto companies, and other enterprises with the ability to quickly and accurately verify any person or document directly from the original trusted online source on a fully global basis.
FV Bank is integrating DIRO’s solution into its account opening protocols to facilitate compliant automation of its Know Your Customer (KYC) and Know Your Business (KYB) processes. With instant external bank account verification, identity verification, proof of address and proof of funds obtained directly from the original trusted web source, FV Bank will be able to streamline its onboarding of international clients.
“We’re delighted to invest in DIRO — a technology company at the forefront of the identity verification sector,” said Miles Paschini, co-founder and CEO of FV Bank. “DIRO’s instant bank account verification services will help us to further improve our clients’ user experience while also strengthening our KYC and AML processes.”
“Working with true pioneers like FV Bank helps us to further build the momentum around DIRO’s instant bank account verification platform serving financial institutions around the world,” said Per Jirstrand, co-founder and Chief Revenue & Product Officer at DIRO.