Standard Treasury team joined SVB Financial's information technology team this week to help it expand the bank's digital banking platform.
The startup is a provider of application programming interfaces and SVB, in Santa Clara, Calif., hired the team to help it develop its own API banking services. It also acquired certain assets. Terms of the deal have not been disclosed.
"We view API banking services as a natural progression in how our tech-savvy clients want to work with their banking partners and service providers," Bruce Wallace, chief operations officer of the $37 billion-asset SVB, said in a statement.
The company said it plans to release new API banking services in the coming months that are currently in development by the Standard Treasury team.
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