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03/05/2023
Modern Treasury Launches ‘Global ACH’ With Silicon Valley Bank Signing On
PYMNTS
San Francisco-based financial services platform Modern Treasury is introducing a product called “Global ACH” which it bills as “a new payment service” that enables lower-cost cross-border transfers than options like SWIFT by utilizing local payment rails.
To launch Global ACH, Modern Treasury is partnering with Silicon Valley Bank.
According to a Thursday (March 2) press release, Global ACH offers “customers more choices for cross-border payments beyond the SWIFT network. With Global ACH, customers can automate international payments using the ACH- and RTP-equivalent payment rails in other countries. This helps companies expand international capabilities with less upfront investment while driving efficiency into their global operations.”
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