Avidia Bank is embracing real-time payments as part of its push to promote collaboration with FinTechs, the financial institution announced Friday (July 12).
In a press release, Avidia said it will soon on-board to real-time payments via The Clearing House, adding to its existing faster payment support that enables P2P and C2B push payments via payment cards. Offering real-time payments as well as a range of APIs will enable Avidia to expand its offering to FinTechs that want to integrate faster payment capabilities into their own solutions. The APIs in particular enable FinTechs to customize financial services offerings to their corporate partners, the bank said.
“We understand that [FinTechs] have very unique needs when it comes to building and managing their businesses,” said Avidia Bank COO and EVP Robert Conery in a statement. “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.”
Avidia also currently offers a proprietary marketplace for FinTechs to be able to connect with developers and sources of funding, including venture capital and angel investors.
“We want to provide all the tools that [FinTechs] need to grow and succeed — at every stage,” Conery added. “The marketplace makes it easy for them to connect with potential sources of funding as well as forge strategic partnerships with other FinTechs.”
In 2015 Avidia announced the launch of its cloud-based payments solution via a collaboration with linked2pay. The platform, Avidia Pay, enables ACH and credit card payment processing for merchant customers with a focus on small businesses, which can struggle to accept multiple payment and card types without incurring higher processing fees, the bank said at the time.
The solution can also be used on mobile devices with mPOS solutions, it noted.