Avidbank Taps CorServ to Launch New Commercial Credit Card Program
California-based Avidbank has tapped CorServ to help launch a new credit card program for the bank’s commercial customers.
Avidbank transitioned from its previous program to CorServ’s Account Issuer program, the companies said in a Tuesday (May 14) press release.
The new program provides Avidbank’s commercial customers with better choices of credit card products, self-service interfaces for managing their cards, customizable reports that include Level 2 and Level 3 transaction data, virtual cards, spend controls and expense reporting, according to the press release.
“This collaboration aligns with our commitment to providing innovative banking solutions to meet the evolving needs of our customers,” Art Wasson, executive vice president, treasury management services at Avidbank, said in the release.
Wasson highlighted the card products, control over credit decisioning, options for local servicing and custom rebates as reasons why Avidbank selected CorServ as its partner for this program.
These resources “enable Avidbank to better serve our commercial customers than national card issuers can,” Wasson said in the release.
CorServ, which offers a turnkey credit card issuing program for financial institutions, is providing Avidbank with commercial card products and features that will enable the bank to meet the needs of commercial customers of all sizes, per the release.
“Avidbank knows the needs of its clients best and can now provide local servicing for their commercial business, municipality and non-profit customers,” Anil Goyal, CEO of CorServ, said in the release.
In another partnership, Ohio-based Peoples Bank said in August that it implemented CorServ’s credit card program to revolutionize the banking experience for its diverse customers, including commercial, small business, non-profit, local municipalities and consumer clients.
“Our new card products have competitive rewards programs while at the same time providing a long-term product for our consumer and small business customers with relationship-based APRs lower than the industry average,” Tom Frawley, senior vice president of Peoples Bank, said in a press release announcing that partnership.
In May 2023, Inbanx tapped CorServ to launch Visa commercial credit cards, saying it would integrate CorServ’s payment card issuing platform into its own budget and spend control platform to provide “the next generation of payment capabilities” to its customers.
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