Silicon Valley Bank Launches Mobile Banking App for Businesses

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Mar 26, 2013, 11:00 ET

SANTA CLARA, Calif., March 26, 2013 /PRNewswire/ -- Silicon Valley Bank, financial partner to technology and life science companies of all sizes, launched Apple® and Android™ mobile banking apps for its commercial clients in the US.

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Designed specifically to help Silicon Valley Bank's technology-focused clients, the app helps users manage their finances, schedule and approve payments, and transfer funds securely from the convenience of a tablet or smart phone.

"The SVB mobile banking app is very intuitive," said Cyriac Roeding, CEO of Shopkick. "It's a great basis for further functionality, and the account overview is simple."

Using their existing online banking credentials, Silicon Valley Bank's clients can log into the mobile banking app to complete a variety of tasks:

Monitor SVB commercial bank accounts and related transaction history
Receive push notifications for pending wires and approve wires on the go
Schedule outgoing wires and transfers between SVB accounts
Use simple navigation to sort, filter, and search accounts and transaction history

"The app works the way our clients want to work because we engaged some of our most innovative clients throughout the design process," said Bruce Wallace, Chief Operating Officer of Silicon Valley Bank. "Our mobile applications integrate with our online banking platform allowing our clients to, for example, initiate transactions via the app on their tablets, review those transactions in online banking, and approve transactions via the app on their phone. It's flexible."

With simple design and seamless integration with online banking services, Silicon Valley Bank's mobile application is easy to use and has many of the same security features used in the online banking platform, including data encryption, user authentication, and multiple access controls.

About Silicon Valley Bank
Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six international operations. (Nasdaq: SIVB) www.svb.com.

Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.

Apple, the Apple logo, Mac, Mac OS and Macintosh are trademarks of Apple. Android is a trademark of Google, Inc., registered in the U.S. and other countries.

SOURCE Silicon Valley Bank