Avidia, KyckGlobal Team On B2B Treasury Management

Avidia Bank is partnering with KyckGlobal, which will help boost its portfolio of treasury management products and services, a press release said on Wednesday (April 12).

Avidia Bank offers services for businesses including payment services, banking as a service, commercial credit solutions and more.

And KyckGlobal offers a cloud-based technology layer featuring a growing array of high-value endpoints that payment recipients can select. Any payment types available come from the single point of funding and reconciliation.

KyckGlobal, through the partnership, will deliver a new application programming interface (API)-first solution for Avidia and give the bank's clients the ability to access a near-instant payment type. It will add value to Avidia’s current banking products and services.

Called Push to Card, the new program will make ‘push payments’ available for major branded debit, credit and prepaid cards in the U.S., without any need for routing numbers.

A fully integrated connection, Push to Card will help customers with customized funds flow and reporting capabilities, which cuts down on cash flow requirements for Avidia clients. There's also more administrative oversight provided.

“Global adoption of digital payment flavors has skyrocketed, and agile businesses will meet consumer expectations in this regard,” said Robert Conery, chief operating officer and executive vice president of Avidia Bank. “This partnership will equip Avidia Bank’s business clients with the innovative tools of the new economy and deliver on Avidia Bank’s promise of accelerating growth with key fintech partnerships.”

Ashish Bahl, CEO and founder of KyckGlobal, said the partnership would help Avidia Bank “attract new business while streamlining processes, reducing operational costs and realizing new efficiency gains across their customer base,” the release said.

CarrieAnne Cormier, senior vice president of retail operations and strategy at Avidia, told PYMNTS last year that the pandemic had forced the bank to focus more on what it could've done long ago, including focusing on working from home and internal workflows, which has saved it money.