Your Preferred Return has arrived.
In this edition we’re focusing on Verivend Vault. Verivend has processed over $1B of transactions for our customers. We are transforming how private capital moves and with that adding further protections for our customers. Vault is the evolution of ‘Verivend Wallet’, our digital wallet, now with full FDIC Insurance supported by a ‘sweep network’ structure. More info below: |  |
$1B in Private Capital Transactions on Verivend |
Verivend Vault
The Verivend Vault operates on Verivend’s proprietary multi-partner bank network, offering a modern, cloud-hosted, and SSL-secured financial transaction application.
Encryption & Multi-Factor Authentication
Every transaction is fortified with encryption on an immutable ledger, ensuring data integrity and confidentiality. Combined with multi-factor authentication, the Verivend Vault is the most secure way to raise and deploy capital.
Reduced Risk of Fraud
The Verivend Vault significantly reduces the risk of fraud, particularly Business Email Compromise (BEC). By eliminating the need to exchange sensitive banking information, we mitigate the primary avenue through which cyber criminals intercept wiring instructions.
Capacity Built for Capital
Large-Volume Capacity
Purpose built to receive, store, and deploy large amounts of money.
High-Value Transactions
No limits! There are no transaction caps or limits with Verivend Vault.
Trust & Transparency
Track capital in real-time, knowing exactly where your funds are at all times. This level of transparency is achieved through Verivend’s advanced digital ledger.
FDIC Protection
Full Coverage
Verivend’s partner banks1 provide robust FDIC insurance coverage, ensuring that all funds in the Verivend Vault are protected and FDIC-insured2. The Federal Deposit Insurance Corporation (FDIC) insurance guarantees that deposits are secure up to the maximum allowable limit, safeguarding funds against bank failures.
Sweep Network
Maximize Coverage
The Verivend Vault’s proprietary sweep network spreads customer deposits across a network of established FDIC-insured banks. This structure ensures that customers benefit from a uniform, easy-to-use banking experience, while their funds are distributed across multiple banks to maximize FDIC protection and account diversification.
Transact with confidence on Verivend. Get started on your next deal today!
Let us know if you have any questions about these new features of Verivend Vault or suggestions for what we should built next.
1. Verivend is a financial technology company, not a bank. Banking services provided by M&T Bank and Five Star Bank; members FDIC.
2. Funds in the Verivend Vault are held by our partner banks, M&T Bank and Five Star Bank; Members FDIC.
3. FDIC coverage is provided by Verivend’s partner banks, M&T Bank and Five Star Bank; Members FDIC, through their sweep programs.