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).
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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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By GlobalDataFintech 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.”
