Avidbank launches B2B credit card program with CorServ

California-based Avidbank has hired CorServ to assist the bank's business customers in rolling out new credit card options.

Avidbank transitioned to CorServ's account issuer program from its previous program, the companies said in a press release on Tuesday (May 14).

According to a press release, the new program provides Avidbank's business customers with enhanced credit card product selection, a self-service interface for managing credit cards, customizable reporting including Level 2 and Level 3 transaction data, virtual cards, spend controls and Expense Report.

“This partnership is consistent with our commitment to provide innovative banking solutions that meet the evolving needs of our customers,” Art Wasson, executive vice president of financial management services at Avidbank, said in a press release.

Wasson highlighted card products, control over credit decisions, local service options and customized rebates as reasons why Avidbank selected CorServ as a partner for the program.

These resources “enable Avidbank to serve our business customers better than domestic card issuers,” Watson said in the release.

CorServ, which provides turnkey credit card issuance programs to financial institutions, is providing Avidbank with commercial card products and capabilities that will allow the bank to meet the needs of business customers of all sizes, according to a press release.

“Avidbank understands its customers' needs best and can now provide local services to their commercial enterprise, municipal and not-for-profit clients,” CorServ chief executive Anil Goyal said in the release.

In another collaboration, Ohio-based Peoples Bank said in August it implemented CorServ’s credit card program to revolutionize the banking experience for its diverse customers, including commercial, small businesses, nonprofits , local municipalities and consumer clients.

“Our new card product features a competitive rewards program while providing our consumer and small business customers with a long-term product with relationship-based annual interest rates that are below the industry average,” said Tom Frawley, Senior Vice President of the People's Bank of China. ” in a press release announcing the partnership.

In May 2023, Inbanx hired CorServ to launch the Visa business credit card and said it would integrate CorServ's payment card issuance platform into its own budget and spending control platform to provide customers with “next generation payment capabilities.”

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