CHARLOTTE, N.C., (June 7, 2018) – AvidXchange™, a leading fintech provider of accounts payable (AP) and payment automation solutions for midsize companies, and HomeTrust Bank (Asheville, NC) today announced a multi-year partnership to bring innovative technology solutions to HomeTrust treasury customers. Through a strategic referral partnership with AvidXchange, HomeTrust Bank can quickly provide customers access to AvidXchange’s industry leading AP automation and payments tools that address the many challenges of middle-market companies paying vendors.
“Middle-market companies are demanding relief from manually processing paper invoices and paper checks,” stated Michael Praeger, CEO and Co-Founder of AvidXchange. “We are proud to partner with HomeTrust Bank in bringing automation and payment innovation to their large and growing treasury customer base. We also value our shared history of founding North Carolina companies that put customers first.”
The benefits to HomeTrust Bank and AvidXchange are considerable. HomeTrust, with $3.2B in assets which stretch across North Carolina, South Carolina, Tennessee, and Virginia, adds to their offering of treasury solutions that enable middle-market customers to reduce costs, save time, and improve their financial performance. It is estimated that 75% of business-to-business payments today are still processed manually by paper check. AvidXchange, through the partnership with HomeTrust Bank, gains a financial institution partner that has a reputation for local branch service and a customer-focused approach.
“AvidXchange, with thousands of customers in the middle-market, is the acknowledged leader in AP automation and payments. This was an easy choice for us,” said Eric Edgison, SVP and Director of Treasury Services, HomeTrust Bank. Our treasury customers gain a solution that fundamentally improves the operations of their business, and we gain a fintech partner that is committed to our success.”
For more information, go to www.avidxchange.com/news
AvidXchange™ revolutionizes the way companies pay their bills. Serving more than 5,500 clients throughout North America, AvidXchange is an industry leader in automating invoice and payment processes for midmarket companies spanning multiple industries including Real Estate, Financial Services, Energy, and Construction. AvidXchange has been recognized as the top software company in North Carolina by the North Carolina Technology Association, one of the 50 fastest-growing private companies in the Charlotte area for six consecutive years, ranked among Deloitte’s Fast 500 this past year, and was recently named the top 100 technology companies in North America by Red Herring. In the midst of record growth, AvidXchange has remained true to its most valued competitive advantage—its people. AvidXchange has been recognized as one of the Best Places to Work in Charlotte for eight consecutive years. For more information, contact us at 800.560.9305 or info@AvidXchange.com.
About HomeTrust Bancshares, Inc.
HomeTrust Bancshares, Inc. is the holding company for HomeTrust Bank. As of March 31, 2018, the Company had assets of $3.3 billion. The Bank, founded in 1926, is a North Carolina state chartered, community-focused financial institution committed to providing value added relationship banking through 43 locations as well as online/mobile channels. Locations include: North Carolina (including the Asheville metropolitan area, the “Piedmont” region, Charlotte, Cary, and Raleigh), Upstate South Carolina (Greenville), East Tennessee (including Kingsport/Johnson City/Bristol, Knoxville, and Morristown) and Southwest Virginia (including the Roanoke Valley). The Bank is the 2nd largest community bank headquartered in North Carolina.