Avidbank Partners with CorServ to Implement a Beneficial Credit Card Program for Commercial Customers

ATLANTA, May 14, 2024 – CorServ, a company that empowers banks and fintechs with payment programs, has partnered with Avidbank (over $2 billion in assets) to launch a beneficial credit card program for their commercial customers.

Avidbank, headquartered in San Jose, California is known for its highly responsive and customer-centric approach and specializes in providing custom financial solutions in commercial & industrial lending, venture lending, structured finance, asset-based lending, sponsor finance, fund finance as well as construction and commercial real estate lending. With a focus on innovation and advocacy, Avidbank transitioned from its previous Agent Bank program to CorServ’s Account Issuer program. The solution provides Avidbank’s commercial customers with benefits including better choices of credit card products, powerful self-service interfaces for managing their cards, insightful customizable reports including Level 2 and 3 transaction data, virtual cards to pay vendors, spend controls, and expense reporting.

“This collaboration aligns with our commitment to providing innovative banking solutions to meet the evolving needs of our customers,” said Art Wasson, EVP, Treasury Management Services of Avidbank. “After searching the market, we found that CorServ uniquely provided us with the card products, control over credit decisioning, options for local servicing, and custom rebates that enable Avidbank to better serve our commercial customers than National card issuers can.”

“Avidbank knows the needs of it’s clients best and can now provide local servicing for their commercial business, municipality, and non-profit customers,” said Anil Goyal, CEO of CorServ. “CorServ provides the commercial card products and features that enable Avidbank to meet the banking needs of the smallest to the very largest of these customers.”

About Avidbank

Avidbank Holdings, Inc. (OTC Pink: AVBH), headquartered in San Jose, California, offers innovative financial solutions and services. We specialize in commercial & industrial lending, venture lending, structured finance, asset-based lending, sponsor finance, fund finance, and real estate construction and commercial real estate lending. Avidbank provides a different approach to banking. We do what we say.

About CorServ – CorServ provides a turnkey credit card issuing program that enables financial institutions to deliver competitive, branded credit cards to consumer, business and commercial customers. CorServ’s secure hosted programs combine our credit, compliance and marketing expertise with our modern online solution – everything our clients need to quickly build a successful card-issuing business. Our financial institution clients can increase their earnings per share by owning their customer loans and benefitting from loan interest, interchange, fee income and economies of scale from CorServ’s client base. Most importantly, our clients control their credit card customer relationships. For more information, please visit www.corservsolutions.com