Avidbank Taps CorServ to Roll Out New Commercial Credit Card Program

Avidbank, based in California, has asked CorServ, which is located in Georgia, for assistance in launching a new credit card program for commercial customers of a financial institution.

Avidbank Taps CorServ to Roll Out New Commercial Credit Card Program

The mentioned lender has transitioned from its previous program to the account issuance partner program, rolled out by a Georgia-based company. The relevant information is contained in a press release published by CorServ.

The new program will provide Avidbank’s commercial customers with an expanded set of credit card products. Also in this case, they will have access to self-service interfaces for managing their funds and to customizable reports that include data on second- and third-level transactions, virtual cards, cost control tools, and statistics on how much money was spent over a certain period.

Art Wasson, Executive Vice President of Treasury Services Management at Avidbank, says that the new collaboration aligns with the financial institution’s commitment to providing consumers with innovative solutions in the banking sector. According to him, the lender’s appropriate efforts will contribute to meeting the customers’ needs which are currently on a consistent growth trajectory.

Art Wasson says that partnering with CorServ is the right solution in terms of the prospects for successful completion of tasks such as highlighting card products, monitoring credit decision-making, and providing local service opportunities and custom rebates. According to him, the partner’s resources will allow the financial institution to improve the quality of service to commercial clients. He also stated that within the framework of the specified tasks, cooperation with CorServ is more effective than the opportunities provided by national card issuers.

The press release notes that the Georgia-based company, which offers its customers, which are financial institutions, a turnkey credit card issuance program, will provide Avidbank with access to commercial card products and features that allow lenders to meet the needs of commercial clients of any size.

Anil Goyal, CEO of CorServ, says that the California-based bank knows its customers’ needs best and can now provide local services for their commercial businesses, municipalities, and non-profit organizations.

It is worth noting that the Georgia-based company actively cooperates with other firms and lenders. For example, in August, Peoples Bank, based in Ohio, announced the implementation of the CorServ credit card program. At that time, the lender stated that the realization of these partnerships would contribute to the process of revolutionizing the banking experience for clients, including, among others, commercial organizations, companies related to the small business sector, non-profit organizations, municipalities, and consumer clients.

Tom Frawley, senior vice president of Peoples Bank, in a press release announcing the specified partnership, noted that the financial institution’s new card products have competitive reward programs and at the same time are a long-term solution for customers and small businesses. Also in this context, special attention was paid to the fact that the APRs based on relationships with the mentioned clients are lower compared to the average recorded in the banking sector.

Last May, Inbanx, based in Texas, involved CorServ in launching commercial Visa credit cards. At that time, the mentioned software company announced its intention to integrate the payment card issuing platform from a Georgia partner into its own budget and spend control platform to provide customers with access to next-generation payment capabilities.

As we have reported earlier, Robinhood Launches Credit Card for Its Gold Members.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.