Georgia-Based Pinnacle Bank Adopts CorServ Credit Card Program
Georgia-based Pinnacle Bank has tapped CorServ to launch a credit card program for commercial, business and consumer customers.
The bank transitioned from its previous Agent Bank program to CorServ’s Account Issuer program, the companies said in a Monday (June 3) press release.
“We discovered CorServ offers distinct advantages by allowing us to better serve our customers with a variety of card products, participation in credit decisioning and options for local servicing,” Shannon Fortson, executive vice president and chief credit officer at Pinnacle Bank, said in the release.
CorServ enables banks and FinTechs to deliver and embed payment card capabilities for their customers. The company provides issuing processing and program management services for credit, debit and prepaid cards, according to the release.
In the partnership with Pinnacle Bank, the bank’s commercial customers now have better choices of credit card products, self-service interfaces for managing their cards, customizable reports that include Level 2 and 3 transaction data, virtual cards to pay vendors, spend controls and expense reporting, the release said.
In addition, Pinnacle Bank’s consumer and small business customers have a choice of cards and can set their own alerts and spend controls and receive two-way fraud text alerts, per the release.
“This partnership provides their customers with a credit card program featuring increased capabilities for a convenient and simple experience,” Anil Goyal, CEO of CorServ, said in the release. “Our comprehensive credit card products and features empower Pinnacle Bank to meet the banking needs of their customers while enabling them to compete with national credit card issuers.”
In another recently announced partnership, CorServ teamed up with California-based Avidbank to help launch a new credit card for that bank’s commercial customers.
“This collaboration aligns with our commitment to providing innovative banking solutions to meet the evolving needs of our customers,” Art Wasson, executive vice president, treasury management services at Avidbank, said at the time in a press release.
In August, Ohio-based Peoples Bank implemented CorServ’s credit card program, saying it will use CorServ’s program to take full ownership of credit card profits and losses and make credit decisions based on its in-depth knowledge of applicants.
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