In many countries, KYC is a regulatory necessity, not just a recommended practice. Financial organizations must verify clients’ identities to avoid money laundering, fraud, and other illegal activities. Failure to comply can result in significant penalties and legal consequences, making KYC an essential component of risk management for any financial company engaged in international commerce.
Beyond compliance, KYC is an important risk management tool. Financial organizations can assess the risk of a given commercial partnership by properly screening consumers. This data is crucial for making informed decisions, such as establishing transaction limits or requesting more paperwork from high-risk clients.
Few firms have had as significant an influence on international business for Small and Medium-sized Enterprises (SMEs) as Silverbird in the ever-changing field of financial technology or fintech. Max Faldin founded the London-based fintech startup in 2020, and it has quickly emerged as a game-changer, delivering a range of financial products geared to the unique demands of international exporters. Silverbird’s origins, milestones, technology developments, and strategic alliances have been directed by Faldin’s core vision for a more equitable and efficient global trading environment for SMEs.
Silverbird arose from a market need recognized by Max Faldin during his previous business initiatives, including the Moscow-based online marketplace WikiMart. Faldin’s dissatisfaction with existing banking methods, notably in international commerce for SMEs, prompted him to develop a platform that could provide a better digital alternative. High costs, unjust rejections, and antiquated laws have long plagued the business, and Faldin saw an opportunity to use technology to simplify and improve the accessibility of cross-border payments.
Silverbird has achieved significant milestones that have catapulted it into the fintech limelight since its beginnings. The company obtained seed money in 2021 from venture capital companies such as FJ Labs, Market One Capital, and FBE Ventures. With this funding, Silverbird was able to invest in cutting-edge technology such as AI-powered Know Your Customer (KYC) and transaction monitoring tools. Silver Lining, the company’s online journal, was created in 2023, further consolidating its thought leadership in the sector.
Silverbird’s usage of AI-powered KYC technology is one of its most differentiating characteristics. The business has established a solid system in collaboration with Currencycloud that enables the speedy and secure onboarding of SMEs, making them bankable across Europe and beyond. This technological advantage distinguishes Silverbird from its rivals and has also changed the SME banking sector. The firm’s platform allows massive international transfers, gives better foreign exchange rates, and provides worldwide business accounts with local EU/UK bank data, all to remove barriers to international payments.
Strategic alliances have greatly enhanced Silverbird’s growth trajectory. The firm has partnered with TUUM, a modular core banking platform, and other real-time payment systems to broaden its reach and capabilities. These collaborations have provided Silverbird access to cutting-edge technologies and unexplored markets, allowing it to deliver banking services to a broader spectrum of SMEs. Collaborations have also allowed the firm to provide multi-currency accounts supporting more than 30 currencies with no transfer limitations, further facilitating cross-border trading.
Silverbird’s operations are based on principles and values that align with its objective. The corporation focuses on being “globally empathetic,” a feature ingrained in its DNA. This mindset manifests itself in a thorough awareness of other cultures, nations, and languages, which shapes the company’s products and customer connections. Silverbird goes the extra mile to understand each customer’s unique story, resulting in solutions that are not only technologically sophisticated but also deeply anchored in the real-world demands of international business players.
Silverbird’s creator and CEO, Max Faldin, is a seasoned entrepreneur with over two decades of business experience. Faldin, who was born in Podolsk, Russia, has a Master of Business Administration from Stanford University Graduate School of Business as well as a Master of Economics and Finance from The Hebrew University of Jerusalem. His career has included various executive roles, including Deputy to the CFO and CEO, and he has previously worked as a mentor and adviser for other firms.
Faldin had previously established himself in the e-commerce market before creating Silverbird. He established WikiMart, Russia’s greatest online marketplace, and acquired more than $50 million in finance, the majority of which came from Tiger Global. The platform grew to become one of Europe’s fastest-growing online enterprises, with a GMV of $250 million and over 10,000 merchants. His experience with WikiMart, especially the difficulties associated with cross-border payments, paved the way for Silverbird.
Silverbird is well-positioned to disrupt the financial sector further as it expands. Silverbird is set to extend its services and reach because of its strong technology foundation, innovative collaborations, and a culture of global empathy. The recent creation of Silver Lining, the company’s online journal, demonstrates a commitment to thought leadership and a readiness to share ideas that might benefit the larger industry.
Silverbird’s objective is based on Max Faldin’s vision of a more inclusive and efficient international commerce environment for SMEs. His fundamental view that SMEs, regardless of size or location, have an equal opportunity to participate in the global economy drives the company’s ideas and alliances.
Silverbird has established itself as a revolutionary leader in the financial business since its beginning in 2020. Its concentration on international commerce for SMEs has filled a key market need by providing various banking products that are both technologically sophisticated and sensitive to the specific issues that small and mid-sized businesses encounter.
Strategic alliances and technology advancements have greatly impacted the company’s path, including critical milestones such as venture capital investment and the introduction of its online journal. These factors, together with a strong business culture and principles, have elevated Silverbird to the forefront of the fintech industry. As Silverbird looks to the future, Max Faldin’s vision acts as a guiding beacon. His knowledge of the constraints of conventional banking in international business has been crucial in establishing the company’s goals and products. Silverbird is more than a fintech firm on its present trajectory; it symbolizes what is possible when technology is used to make international trade more accessible, efficient, and, above all, human.
