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Avidbank partners with Corserv to launch commercial credit card program

May 17, 2024
1 Min Read

Corserv has partnered with Avidbank in the United States to introduce a new credit card for its business customers.

The bank will enable card issue, processing, servicing, and program administration by utilizing Corserv's Account Issuer solution.

The UK-based vendor initially states that a greater selection of credit card goods, including virtual cards, will be available to the bank's commercial enterprise, municipality, and non-profit clients thanks to the relationship. Additionally, the bank will be able to provide transaction analytics, expenditure limits, and expense reporting capabilities.

The capabilities would "enable Avidbank to meet the banking needs of the smallest to the very large of these customers," according to Anil Goyal, CEO of Corserv.

Over the past year, credit card programs from Busey Bank in Illinois, Peoples Bank in Ohio, and Meridian Bank in Pennsylvania have chosen to run on Corserv's Account Issuer solution.

Avidbank, a California-based company, now manages more than $2 billion in assets and provides deposit, cash management, and internet banking services.

The bank serves clients mostly in the counties of San Francisco, Santa Clara, and San Meteo. Its lending responsibilities include mortgages, sponsor finance, venture and asset-based lending, and construction and commercial real estate loans.

 

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