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AvidXchange and Atlantic Community Bankers Bank Partner, Offers AvidAscend to more Banks and Credit Unions

October 3, 2023
ACBB celebrates 40 years

AvidXchange, a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced its referral partnership with Atlantic Community Bankers Bank (ACBB), an East Coast bankers bank serving financial institutions in 15 states. Founded in 1983, ACBB is a cooperative serving the lending, payments, and advisory needs exclusively for financial institutions.

This partnership will allow ACBB and its clients to use AvidXchange’s AvidAscend Financial Accounting Suite which can help streamline the back-office accounting processes by using automation to reduce manual processes around invoice approvals and payments, as well as the use of paper invoices and checks. AvidAscend Financial Accounting Suite, which is purpose-built for financial institutions and works with more than 1,700 U.S. banks and credit unions, includes accounts payable, fixed assets, prepaids accruals, approval workflow, OCR Invoice Inbox, AvidPay, vendor management and expense report tools.

“We’re proud to be working with ACBB and for their clients to also leverage the many benefits of our purpose-built AvidAscend Financial Accounting Suite,” said Dan Drees, President of AvidXchange. “AvidAscend is the perfect fit for a banker’s bank, as well as community banks or credit unions, and we’re excited to see how this partnership will continue our journey to transform the way middle market financial institutions pay and receive their bills.”

“ACBB is proud to partner with organizations like AvidXchange who align with our mission to help deliver services that drive efficiency, profitability, and improved capabilities to financial institutions.” said Joe Krzywicki, Chief Banking Officer of ACBB. “As we evaluate solutions to deliver to our clients, we first look internally at the challenges we face. We see high value in automating accounts payable at ACBB and we are honored to work with a trusted partner like AvidXchange. Further, we are excited to not only refer their purpose-built solution to our clients, but to practice what we preach and use their leading AvidAscend Financial Accounting Suite for our internal accounting processes.”

Many of ACBB’s customers are using core systems that AvidAscend already has established integration with making the setup and onboarding process a seamless experience.

To learn more, visit: https://www.avidxchange.com/products/avidascend/

And to learn more about how AvidXchange, and its publicly traded parent AvidXchange Holdings, Inc. (Nasdaq: AVDX), are transforming the way companies pay their bills, visit www.AvidXchange.com.

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