#United States #Glen Burnie #CorServ #Bank of Glen Burnie #Credit Card Program

The Bank of Glen Burnie and CorServ Team Up for Credit Card Solutions

In an exciting new partnership, The Bank of Glen Burnie is collaborating with CorServ to unveil a comprehensive credit card program tailored for their commercial, business, and consumer customers. This initiative promises to bring enhanced financial solutions to clients in Glen Burnie, Maryland, and beyond.

A Community-Centric Approach
The Bank of Glen Burnie has a rich history dating back to 1949, establishing itself as a community bank that prioritizes personalized services and high-quality banking products. With six branches in Maryland, it has built a strong relationship with locals by focusing on their unique financial needs. Recently, the bank identified a significant demand from businesses and non-profit organizations for credit card products tailored to their operations.

To address these needs, The Bank of Glen Burnie evaluated its offerings and recognized the potential for introducing commercial cards, purchasing cards, and fleet cards. These options are designed to assist customers with effective cash management, virtual payments to vendors, and detailed expense reporting with added rewards benefits.

Insights from Leadership
Jonathan Shearin, the Vice President and Chief Lending Officer at The Bank of Glen Burnie, emphasized the importance of community engagement and personalized service. "At The Bank of Glen Burnie, everything we do is centered around the customer. After learning that our clients desired access to commercial credit cards, we were determined to find a solution that truly meets their needs," he remarked.

In their search, the bank found CorServ's platform, which is equipped with essential features such as spend controls and virtual card options paired with top-notch customer service. This partnership allows The Bank of Glen Burnie to maintain tighter control over its credit card issuing program, steering clear of the limitations associated with traditional Agent Bank programs.

Leveraging New Opportunities
CorServ, a company renowned for empowering banks and fintechs with credit card issuance solutions, is committed to enhancing the financial landscape for institutions like The Bank of Glen Burnie. Their credit card issuing platform offers competitive interchange rates, annual percentage rates (APRs), and fees, enabling the bank to create new revenue streams that surpass those offered under an Agent Bank model.

Anil Goyal, CEO of CorServ, expressed his enthusiasm for the partnership. "We are thrilled to provide The Bank of Glen Burnie with a credit card program that aligns with what their customers are seeking. A bank that prioritizes customer service must offer the products that clients need to contribute to the community while also increasing their revenue stream," he stated.

CorServ: Innovating Financial Solutions
CorServ specializes in innovative payment card issuing, processing, and program management solutions, designed to empower banks and financial institutions with various card types, including credit, debit, prepaid, virtual, and purchasing cards. Their turnkey credit card issuance program allows banks to achieve significantly higher returns on assets than conventional Agent Bank models, while also granting access to cardholder data and participation in credit decisions without necessitating additional staff.

For banks wishing to be self-issuers, CorServ offers a robust technology suite, empowering them to enhance their offerings while fintechs can seamlessly integrate payment cards into their platforms through CorServ’s API-first issuer processor solution. Interested parties can browse CorServ's offerings at their website for further details.

The Bank of Glen Burnie: Local Roots With a Commitment to Growth
Founded on the principles of serving the community, Glen Burnie Bancorp and The Bank of Glen Burnie are dedicated to fostering connections with their customers. The bank continues to be actively involved in supporting local initiatives and providing exceptional banking solutions, such as demand and time deposit acceptance, and various types of loans including real estate financing and automobile loans, making them a cornerstone of the financial landscape in Anne Arundel County.

With this new credit card program, the bank is poised to strengthen its customer relationships further, enhance local community growth, and continue its legacy as a trusted financial partner.