Signature Bank’s new digital payments platform, Signet™, is designed to enable real-time payments for its commercial clients only.
The Signet Platform leverages blockchain technology in its architecture, allowing Signature Bank’s commercial clients to make payments in U.S. dollars 24 hours a day, seven days a week, 365 days-a-year. Transactions made on the Signet Platform settle in real time, are safe and secure, incur no transaction fees, and require a minimum account balance of $250,000. Typically, in the case of real-time payments, funds are transferred between two different institutions. With Signet, funds are transferred in real-time between commercial clients of Signature Bank.
The Signet Platform will be open to all commercial clients effective January 1, 2019 at 12:01 A.M. Eastern Time. Please visit www.signet.com at that time.