Avidia Bank Offers Real-Time Merchant Account Approvals

Underwriting and boarding automation sets Avidia Bank apart as a card sponsor

HUDSON, Mass.--()--Avidia Bank announced today that it is supporting the real-time delivery of merchant accounts on the Bank Centric Payments platform. Now their reseller partners can leverage a paperless, real-time process to register, underwrite and board clients for card processing.

"In my experience the underwriting and boarding process took days at best, and often a week or more. What we are talking about here is technology that does it in real-time. Our access to utilize these tools is a major breakthrough for our sales team and will enable us to move much faster when bringing our clients onboard,” according to Jim Malcolm, President of Sales at Veritas Payment Advisors. “When we can get real-time approval, we can start making money on the spot."

This level of technology can go a long way to narrow the gap between the largest sponsor banks and those like Avidia Bank. By embracing automation, the bank has greatly improved the reseller and client experience.

“Now the bank can offer resellers a paperless, real-time process to register, underwrite and board clients for card processing and additional payment services. A key part of that process is that we now have a higher and more effective ability to monitor and manage the initial and ongoing risk of our portfolio. We do this by leveraging integrations to our analytic service provider accounts through the Bank Centric Payments platform." said Cliff Thompson, Vice President of Business Development and Payment Solutions of Avidia Bank.

For more information, please contact: Cliff Thompson, Vice President of Business Development and Payment Solutions at 978-567-3658, 978-875-0278 or c.thompson@avidiabank.com

About Avidia Bank
Avidia Bank provides state-of-the-art electronic banking capabilities to businesses and consumers across Central Massachusetts through online access and full-service branches. Avidia Bank is a $1.4 billion bank, headquartered in Hudson, MA with branches in Hudson, Westborough, Clinton, Leominster, Marlborough, Northborough and Shrewsbury. Visit us at avidiabank.com and follow us on social media including Twitter, Facebook and LinkedIn.

Contacts

Avidia Bank
Michael Allard, 774-760-1206
SVP Marketing
m.allard@avidiabank.com

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Contacts

Avidia Bank
Michael Allard, 774-760-1206
SVP Marketing
m.allard@avidiabank.com