June 13, 2019
Avidia Shows How Relationship Between Banks and Fintechs May Shift
Hudson-based Avidia Bank made a bold move last month, becoming the first community bank in the country to join The Clearing House’s real-time payments network and in the process showing how the relationship between fintechs and banks may soon start to shift.
The move gives the bank’s customers the ability to send, clear and settle payments immediately and at all times – 24 hours a day, seven days a week and 365 days of the year.
Joining The Clearing House’s system is important for a few different reasons: Not only will it help Avidia become a leader in the payments space and solve customers cash flow problems, but it will also make the bank an attractive place for fintechs to launch out of.