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Priority and Century Bank Announce Strategic Partnership to Expand Product Offering to Bank Customers
Rhea-AI Impact
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Rhea-AI Sentiment
(Neutral)
Tags
partnership
Rhea-AI Summary
Priority Technology Holdings (NASDAQ: PRTH) has partnered with Century Bank to provide an advanced accounts payable solution, CPX, to Century Bank customers. This collaboration aims to streamline manual processes, enhance payment efficiencies, and optimize revenue for both buyers and suppliers. Stephen Tackett, EVP at Priority, highlighted the benefits of automation and increased treasury value for Century Bank's clients. The partnership addresses a critical need for effective digital banking solutions among community banks, empowering them to better serve their clients.
Positive
Partnership with Century Bank enhances service offerings to customers.
CPX solution optimizes accounts payable processes, benefiting buyers and suppliers.
Improves payment speed and reduces transaction costs.
Negative
None.
CPX, powered by Priority will deliver industry-leading AP solutions to Century Bank customers
ALPHARETTA, Ga.--(BUSINESS WIRE)--
Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority”), a leading payments technology company helping customers collect, store, and send money, has announced a partnership with Century Bank, a full-service community bank supporting locations in New Mexico and Texas.
Under the partnership, Century Bank’s customers will be able to take advantage of Priority’s best-in-class accounts payable (AP) solution, CPX. Engineered to help buyers and suppliers find the intersection of value, CPX eliminates inefficient manual processes and optimizes revenue share from virtual card for buyers, while accelerating payments and managing transaction costs for suppliers.
“We are excited to partner with Century Bank to offer a seamless suite of B2B payment solutions to their customers and deliver the benefits of automation, revenue creation and greater treasury value,” said Stephen Tackett, Executive Vice President and head of the B2B division for Priority. “CPX delivers the speed-to-market and frictionless onboarding process that will support Century Bank’s customers as well as the Bank’s vision of becoming a super-community bank.”
“Today, companies are focused on optimizing their AP process and desire to partner with a community bank that is committed to the communities they both serve,” said Tyler Sisneros, SVP and Director of Treasury and Digital Banking for Century. “Unfortunately, many community banks are technology challenged, and the payables optimization vision evangelized by larger FI’s precludes most companies due to cumbersome IT requirements of their payables tools. We are proud of our partnership with Priority because it allows us to provide our commercial clients with a powerful, yet user-friendly payment tool.”
Priority is a payments powerhouse driving the convergence of payments and banking. The company has built a single platform to collect, store, and send money that operates at scale. We help our customers take and make payments while managing business and consumer operating accounts to monetize payment networks. Our tailored, agile technology powers high-value payments products bolstered by our industry-leading personalized support. Additional information can be found at www.PRTH.com.
About Century Bank
Century Bank was established in the Great State of New Mexico in 1887. Century Bank is a state chartered and locally owned, full-service community bank. Century Bank is proud to support New Mexico’s financial needs including commercial loans, mortgage loans, consumer loans, deposit products, wealth management and services including electronic and mobile banking and treasury management. Current locations include Santa Fe, Espanola, Albuquerque, Las Cruces, Los Alamos, Houston and Dallas. Century Bank is proud of our commitment to the people and communities of New Mexico. We continue to support our communities with our philanthropic efforts, lending money back into our communities and helping individuals and businesses with their financial needs. With local board members and over 170 employees, Century Bank is honored to be a part of New Mexico’s heritage.
What is the partnership between PRTH and Century Bank about?
Priority Technology Holdings (PRTH) has partnered with Century Bank to provide customers with CPX, an advanced accounts payable solution designed to streamline payment processes.
What are the benefits of the CPX solution offered by PRTH?
The CPX solution optimizes accounts payable operations, enhancing payment speed, reducing transaction costs, and improving revenue share for suppliers.
When was the partnership between PRTH and Century Bank announced?
The partnership was announced recently, with specific details highlighted in a press release by Priority Technology Holdings.
How does the partnership benefit Century Bank customers?
Century Bank customers will benefit from improved efficiency in their accounts payable process, along with access to enhanced digital banking solutions.
What is the stock symbol for Priority Technology Holdings?
The stock symbol for Priority Technology Holdings is PRTH.
