Accounts
Discover Dynamic Account Solutions that empower businesses and fintechs with innovative, secure, and scalable banking services.
Evolve offers a comprehensive suite of account solutions designed to seamlessly support fintech and businesses alike, offering flexible options for managing both while maintaining security, compliance, and ease of use. Among these offerings are Virtual Accounts (vAccounts), Primary Banking accounts, and Omnibus accounts, each designed to meet the unique needs of modern financial programs.
Account Types
vAccounts
When a fintech utilizes vAccounts, it maintains the direct relationship with the end user, allowing them to engage with the app as they would with a traditional bank. In the background, Evolve maintains the accounts in a highly secured ecosystem known as the Evolve Stored Value Ecosystem (ESVE).
vAccounts are ideal for apps that facilitate peer-to-peer payments, digital wallets, rewards programs, and more. Once a vAccount is created, it can be configured to send and receive funds. Whether it’s for simple money transfers or more complex, cross-border transactions, vAccounts offer a flexible solution for any fintech platform.
Primary Banking
When launching a financial program, one of the first and most critical steps is securing an account infrastructure that can reliably manage funds. Evolve’s Primary Banking accounts are designed to hold the funds necessary to secure your financial program and manage the flow of capital.
These accounts serve as the primary operating account for your business and are typically used to manage the inflow and outflow of funds related to the program. Whether it’s processing deposits from users, making payouts, or managing reserves, Primary Banking accounts ensure that your business can scale smoothly and securely.
Omnibus
Managing Funds in Aggregate.
Omnibus accounts streamline operations by centralizing funds, making it easier for businesses to oversee large volumes of transactions and manage liquidity. With this setup, the business is responsible for overseeing the total sum of funds, while the specific distribution to users or accounts is handled within the business’s operational framework.
Omnibus accounts are flexible and easy to integrate with both vAccounts and Primary Banking solutions. This allows fintechs to provide their users with a seamless experience, where funds can be transferred from an Omnibus account to individual vAccounts with ease.