Avidia Bank, a community bank based in Massachusetts, has revealed plans to introduce Real-Time Payments (RTP) service to support growth of fintech companies.

The Massachusetts-based lender claimed that it is the first community bank in the US to sign on to this service available through The Clearing House (TCH).

It also offers faster payments through a push-to-card system.

Besides faster payment services, Avidia Bank will offer a library of Application Programming Interfaces (APIs) to the fintechs. These APIs will enable the businesses to provide customised banking platforms to their corporate partners.

Avidia Bank COO Robert Conery said: “We understand that FinTech’s have very 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.”

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Fintech companies will also get access to a unique marketplace to connect with other developers, private equity, angel investors and venture capital firms.

Conery added: “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.”