Atlantic Community Bankers Bank (ACBB) Announces Strategic Partnership with AvidXchange to Enhance Financial Services for Member Institutions
October 5, 2023
ACBB is proud to announce a strategic referral partnership with AvidXchange, a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers.
This exciting partnership will empower ACBB and its member institutions to leverage AvidXchange’s cutting-edge AvidAscend Financial Accounting Suite, designed to streamline back-office accounting processes through automation, reducing manual tasks associated with invoice approvals and payments. Furthermore, it will significantly reduce reliance on paper invoices and checks.
AvidAscend Financial Accounting Suite, purpose-built for financial institutions, boasts a track record of success, collaborating with more than 1,700 U.S. banks and credit unions. This comprehensive suite includes accounts payable, fixed assets, prepaids accruals, approval workflow, OCR Invoice Inbox, AvidPay, vendor management, and expense report tools.
“We’re excited to embark on this partnership with ACBB and offer their clients access to the multitude of benefits offered by our purpose-built AvidAscend Financial Accounting Suite,” said Dan Drees, President of AvidXchange. “AvidAscend is perfectly suited for bankers’ banks, community banks, and credit unions. We look forward to transforming the way middle market financial institutions handle their bills.”
ACBB’s Chief Banking Officer, Joe Krzywicki, also expressed enthusiasm for the partnership: “ACBB is dedicated to delivering services that drive efficiency, profitability, and enhanced capabilities to financial institutions. We recognize the immense value in automating accounts payable processes at ACBB, and we’re honored to collaborate with a trusted partner like AvidXchange. We not only refer their purpose-built solution to our clients but also employ their leading AvidAscend Financial Accounting Suite for our internal accounting processes.”
Many of ACBB’s member institutions already utilize core systems that have established integrations with AvidAscend, ensuring a seamless setup and onboarding experience.
This partnership exemplifies ACBB’s ongoing commitment to delivering innovative solutions to its member institutions, enhancing operational efficiency, and reinforcing its position as a trusted partner in the ever-evolving financial services landscape.
To learn more about AvidAscend and how this partnership can benefit your financial institution, please reach out to your relationship manager.