ATLANTA, February 20, 2024 – CorServ, a company that empowers banks and fintechs with payment programs, has implemented an innovative credit card program with Maine-based Gorham Savings Bank ($1.6 Billion), to improve commercial lending for customers.
Gorham Savings Bank strives to be the leading financial services provider creating economic growth, prosperity and financial security for the people and communities of Southern Maine. Previously using an agent bank program for their business credit card program, Gorham Savings Bank was interested in enhancing their commercial lending process by offering commercial credit cards with ePayables and virtual card features.
Gorham Savings Bank selected CorServ’s advanced card issuing program to offer credit cards with extensive commercial banking capabilities. With the modern credit card program, CorServ gives Gorham Savings Bank the unique opportunity to participate in all credit decisions which impact its business banking customers.
“At Gorham Savings Bank we aim to provide the best banking experience for our customers,” said Kim Donnelly, EVP, Director of Wealth and Business Services at Gorham Savings Bank. “We’re excited to introduce a new, more comprehensive suite of credit cards better suited to meet the needs of our small business and commercial customers.”
Gorham Savings Bank will be equipped to serve their clients based on their unique commercial or business banking needs with features such as virtual card support for businesses’ ePayables, extensive spend controls including by MCC, a free expense reporting system, sales and servicing portals, transparent and robust reporting, all hosted and using CorServ’s secure PCI-compliant software.
“CorServ provides an enhanced value for Gorham Savings Bank and their customers with improved digital banking services for commercial lending including easier employee expenses and vendor payments,” said Anil Goyal, CEO at CorServ. “We are thrilled to provide a competitive and sophisticated commercial credit card program for Gorham Savings Bank customers.”
About Gorham Savings Bank
Headquartered in Gorham, Maine since its founding in 1868, Gorham Savings Bank is a depositor-owned community bank delivering a full suite of financial services tailored to the needs of Southern Maine’s businesses and consumers. As the only bank headquartered in Cumberland County, GSB serves and supports businesses that value local management, know-how and accountability. The bank offers consumer savings accounts, personal loans, mortgages, HELOCs, CDs, IRAs and financial planning services through its 11 branches and growing network of ATMs, Video Teller Machines and mobile services. Gorham Savings Bank is a tireless advocate for the wellbeing of the communities it serves, donating thousands of volunteer hours to dozens of community-based initiatives annually. Gorham Savings Bank is a member of the FDIC. Learn more at gorhamsavings.bank.
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