Corserv, a company that empowers banks and fintechs with payment programs, has implemented a credit card program with Pennsylvania-based Meridian Bank in order “to serve their business and commercial customers.”
Meridian Bank is “a $2 billion full service commercial bank, founded in 2004 and headquartered in Greater Philadelphia with offices in Pennsylvania, New Jersey, Delaware, Maryland, and Florida.”
Corserv’s robust program “enables Meridian Bank to continue offering innovative solutions to its customers through credit card products with a variety of APRs, rewards, and features.”
For Meridian Bank, it was crucial “that their credit card program offer extensive commercial and business capabilities.”
Jason Rose, Vice President, Treasury Sales and Service at Meridian Bank, said:
“Because we run Meridian like a business, we understand the needs of our community business owners. We found that virtual card support, automated credit-decisioning, extensive spend controls, business self-service features, and free expense reporting from Corserv’s program allow us to offer specialized features to our business and commercial customers.”
Anil Goyal, CEO at Corserv said:
“Our turnkey card issuing program minimizes the disruption, cost, and resources needed for typical card programs while enabling our partners to average over 8% Return on Assets on the business card program. It is our core mission to provide institutions like Meridian Bank with payment card features that NEWS RELEASE compete with the largest banks, while doing what community banks do best – serve the specific needs of their community.”
As noted in the update, Meridian Bank, the wholly owned subsidiary of Meridian Corporation, is “an innovative community bank serving Pennsylvania, New Jersey, Delaware, Maryland and Florida.”
Through more than 20 offices, “including banking branches and mortgage locations, Meridian offers a full suite of financial products and services.”
Meridian specializes “in business and industrial lending, retail and commercial real estate lending, electronic payments, and wealth management solutions through Meridian Wealth Partners.”
Meridian also “offers a broad menu of high-yield depository products supported by robust online and mobile access.”
As mentioned in the announcement, Corserv claims it “provides innovative issuing processing and program management services for credit, debit and prepaid cards enabling Banks and Fintechs to deliver and embed payment card capabilities for their customers.”
Corserv’s deep expertise in the industry combined with their modern technology API solution provides their clients “with everything they need to quickly build a successful credit-issuing business.”
