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Why Avidia Bank Chose LegitScript Merchant Monitoring

Avidia Bank is at the forefront providing an exceptional experience for service providers in an ever-evolving industry. It is a growing sponsor bank for ISOs and many other payment methods.

As the Vice President of Payment Risk and Underwriting, Joe Palombo’s job is to ensure the payments ecosystem stays free of fraud — regardless of the payment product. From boarding to underwriting to ongoing monitoring, he is responsible for a six-person team that helps to manage these functions to keep the bank protected and, most important, compliant with all regulators and card brands.

LegitScript’s merchant monitoring solution is a one- stop shop with an exceptional staff — especially its customer success team.

Joseph Palombo, Vice President of Payment Risk and Underwriting

In the following Q&A, Joe shares about his team’s experience with LegitScript Merchant Monitoring.

Before partnering with LegitScript, was Avidia Bank performing its own monitoring or working with an outside vendor?

It was a combination of both. We were using a third-party provider, but the work product was restricted mostly to manual spreadsheets. It was taking a lot of time and effort to comb through the report, interpret the report, and record findings. We needed one self-contained system for merchant monitoring to improve operations and streamline our approach.

Ultimately, why did you partner with LegitScript and choose it over other solutions?

Cost was a big driving factor in choosing LegitScript, as well as the ease of access to the solution itself. Everything we need is now “under one roof.” This saves our team a lot of time and effort.

How would you judge LegitScript as far as the accuracy and detail of results?

LegitScript’s accuracy is spot-on and their results are easy to understand. The insight they provide to our analysts is extremely helpful in prompting the proper reviews on the bank side.

What if you have a question about a merchant LegitScript has flagged? Is the team helpful and knowledgeable?

If our account manager is not sure about something, it is promptly socialized internally at LegitScript and answered by the appropriate teams. This is another extremely valuable benefit. Our LegitScript account manager is frequently in touch with us and most helpful.

How would you describe LegitScript to another payments company shopping around for a merchant monitoring service provider?

LegitScript’s merchant monitoring solution is a one-stop shop with an exceptional staff — especially its customer success team. The company is respected and recognized by the card brands, and is set up to specialize in a handful of high-risk verticals should an organization need or want to go down those roads.

Anything else you’d like to add about your experience with LegitScript?

As the bank continues to scale, we look forward to continuing to build a relationship alongside LegitScript and continue to leverage the data and information to create a safer payments space.


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