Robert Conery, COO, EVP, Avidia Bank

Avidia Bank, a mutual community bank headquartered in Massachusetts and founded in 2007, has recently announced its innovation and growth plan to help Fintechs fuel their growth in businesses Services.

Avidia Bank was earlier providing payment services, but it will now soon be providing, Real-Time Payments (RTP). Avidia was the first community bank in the country to sign on to this service available through The Clearing House (TCH) and currently offers faster payments through a push-to-card system that allows customers to pay people and small businesses using their cards.

Robert Conery, COO, EVP, Avidia Bank commented on the program, “We understand that FinTech’s have unique needs when it comes to building and managing their businesses. As a niche bank dedicated to innovation, Avidia Bank is nimble enough to deliver the payment and banking services and compliance expertise they require, but with a level of personal service that’s difficult to find today, We want to provide all the tools that FinTech’s need to grow and succeed – at every stage. The marketplace makes it easy for them to connect with potential sources of funding as well as forge strategic partnerships with other FinTechs.”

In addition to delivering faster payment capabilities, Avidia will now be offering a range of other services to help FinTech’s build and grow their businesses, including a library of Application Programming Interfaces (APIs). These APIs allow FinTechs to offer white labelled solutions for their partners. The Hudson based community bank will offer Fintechs a marketplace where they can network with developers as well as private equity, angel investors, and venture capital firms.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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