“Corserv’s program provides competitive products without adding staff, infrastructure, and internal cost that previously made owning our own credit card program cost prohibitive.”
August 03, 2022
Corserv, a company that empowers banks and fintechs with payment programs, has implemented an innovative credit card program with Swansea, MA-based BayCoast Bank, to serve their consumer, business and commercial customers.
BayCoast Bank has an incredible history of providing exceptional financial services and solutions to communities on the South Coast of Massachusetts and Rhode Island. Corserv’s innovative program enables BayCoast to continue community-focused service through credit card products which offer a variety of APRs and rewards to customers.
This comprehensive credit card program now gives BayCoast the unique opportunity to participate in all credit decisions which impact its community banking customers.
“BayCoast Bank is dedicated to supporting the neighborhoods where we live and work. We want to help our local businesses and communities thrive. The ability to participate in the credit decisions for our customers was incredibly important for us as we sought to upgrade our credit card program, ”said Kevin Briggs, VP Strategic Initiatives at BayCoast Bank. “Corserv’s program provides competitive products without adding staff, infrastructure, and internal cost that previously made owning our own credit card program cost prohibitive.”
With innovative features such as virtual card support for businesses’ ePayables, automated credit-decisioning, sales and servicing portals, transparent and robust reporting, as well as hosted and secure PCI compliant software, Corserv provides a competitive, full-featured credit card program for community banks to serve their customers, based on their specific needs.
“We are proud to enable banks like BayCoast with robust features to compete with the largest banks, while doing what community banks do best – serve the specific needs of their community,” said Jerry Craft, CEO at Corserv. “Our turnkey card issuing program minimizes the disruption, cost and resources needed for typical card programs, while enabling our bank partners to average over 6% Return on Assets on the program.”
About BayCoast Bank
BayCoast Bank is a long-standing community bank providing financial products and services to the people and businesses of Southeastern Massachusetts and Rhode Island through 25 branches and loan production offices, with more locations coming soon. The Bank offers a family of complete financial services through its subsidiaries: BayCoast Mortgage Company, LLC, BayCoast Financial Services, Plimoth Investment Advisors, Partners Insurance Group, LLC, and Priority Funding, LLC. For more information, visit https://baycoast.bank/ or call 508-678-7641.
Corserv provides payment services including a turnkey issuing program for credit cards, P-cards, and virtual cards that enables Banks and Fintechs to deliver competitive, branded payment services to their customers. Corserv’s secure hosted programs combine our credit, compliance and marketing expertise with our modern online solution and open APIs – everything clients need to quickly build a successful card-issuing business. Our Bank and Fintech clients increase their earnings per share by benefitting from loan interest, interchange, fee income and economies of scale from Corserv’s client base. Most importantly, they deepen their customer relationships. For more information, please visit http://www.corservsolutions.com
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