BankTEL Systems
BankTEL Systems provided shareholder management and accounts payable automation software to community banks and credit unions. Its Ascend product suite was acquired by AvidXchange and rebranded as AvidAscend, now part of AvidXchange's broader AP and payment automation platform serving multiple verticals.
- Company typePrivate
- Founded1992
- HeadquartersColumbus, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What BankTEL Systems does
BankTEL Systems was a private U.S. software company founded in 1992 and headquartered in Columbus, Ohio, that provided financial institutions — primarily community banks and credit unions — with software for shareholder management and accounts payable automation. Its flagship offering was the Ascend product suite, which delivered login-portal-based shareholder recordkeeping and AP workflow functionality to a niche but financially regulated buyer base.
BankTEL and the Ascend product suite were acquired by AvidXchange and have been rebranded as AvidAscend. Under AvidXchange, the former BankTEL capabilities are folded into the broader AvidSuite platform — a unified AP and payment automation ecosystem spanning invoice automation, purchase order automation, payment automation, straight-through processing, analytics (AvidAnalytics), and managed services (Accounts Payable as a Service). The platform integrates with ten major ERP and accounting systems (Oracle NetSuite, Intuit QuickBooks, Microsoft, Sage, Acumatica, Blackbaud, MIP Fund Accounting, MRI, Rent Manager, Yardi) and is supported by AI-assisted invoice and document processing.
The go-to-market is direct enterprise sales with a "Request a Demo" motion targeting verticals including real estate, construction, financial services, healthcare, hospitality, media, education, nonprofits, government, and automotive. Pricing is not publicly disclosed; former BankTEL and Ascend customers are directed to AvidXchange for current product information. AvidXchange operates as a licensed U.S. money transmitter (NMLS ID: 1494826), enabling it to execute B2B payments directly — a structural revenue extension beyond software licensing. BankTEL Systems as a standalone entity is no longer operating independently.
BankTEL Systems firmographics
Firmographics- Name
- BankTEL Systems
- Legal name
- BankTEL Systems
- Website
- https://banktel.com
- Company type
- Private
- Founded year
- 1992
- Operating status
- Acquired
- Headcount range
- 11–50 employees
- Short description
- BankTEL Systems provided shareholder management and accounts payable automation software to community banks and credit unions. Its Ascend product suite was acquired by AvidXchange and rebranded as AvidAscend, now part of AvidXchange's broader AP and payment automation platform serving multiple verticals.
- Ownership category
- akta.pro rank
BankTEL Systems industry classification
Industry- Product category
- Financial Services Software
- NAICS
- Activities Related to Credit Intermediation (5223), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)
- akta.pro secondary industries
- Biller Direct EBPP Platforms (FSAMAJAA), A2A Bill Pay & eInvoicing (Open Banking Enabled) (FSAMAFAL), Payment Orchestration Platforms (FSAGABAA)
Keywords
Where BankTEL Systems is headquartered
LocationHeadquarters
- HQ city
- Columbus
- HQ country
- United States
- HQ region
- North America
Markets served
BankTEL Systems business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Distribution channels2 records
Marketing channels4 records
BankTEL Systems product offering
Product offeringCore offering
BankTEL Systems provides financial institutions such as banks and credit unions with software for shareholder management and accounts payable automation through its Ascend product suite. Following its acquisition by AvidXchange, the products continue under the AvidXchange umbrella as AvidAscend, offering invoice processing, purchase order automation, and B2B payment automation integrated with major ERP systems.
Product overview
BankTEL Systems was acquired by AvidXchange and now operates as part of AvidXchange's financial services portfolio. The core offering is AvidSuite, a unified accounts payable automation platform comprising modules for invoice automation, purchase order automation, and payment automation. The Acquired Ascend product suite was formerly BankTEL's flagship financial management solution. Additional products include AvidAnalytics for reporting, Lien Waiver Management for construction, and FastPay for media spend management. The platform integrates with major ERP systems including NetSuite, QuickBooks, Sage, Acumatica, Blackbaud, MIP Fund Accounting, MRI, Rent Manager, and Yardi.
Differentiator
Problem solved
Functional benefit
Brands
- Ascend: Product suite offered by BankTEL Systems for financial services and shareholder management, now integrated into AvidXchange's offerings.
Products and services
- Ascend (AvidAscend) BankTEL's flagship product suite for shareholder management and financial services automation at banks and credit unions, now continued as AvidAscend under AvidXchange.
- AvidSuite Comprehensive accounts payable and payment automation platform integrating invoice, purchase order, and payment processing workflows with ERP systems, offered to financial institutions including former BankTEL/Ascend customers.
- Accounts Payable Automation Core automation solution that manages the entire accounts payable workflow from invoice receipt through payment, targeted at mid-market and enterprise customers.
- Accounts Payable as a Service Managed services offering providing outsourced accounts payable processing for customers that prefer a service-led delivery model over pure software licensing.
- FastPay Media Spend Management Media and advertising spend management solution for media-industry customers, operated under the FastPay sub-brand.
Companies that use BankTEL Systems
Customer profileSegments1 record
Ideal customer profiles1 record
BankTEL Systems technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
AI capability2 records
Feature2 records
BankTEL Systems partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core.
- Oracle NetSuitecoreAvidXchange offers AvidSuite integration with Oracle NetSuite for seamless data synchronization between AP automation and accounting systems.
- Intuit QuickBookscoreIntegration with Intuit QuickBooks enables customers to connect their AP automation workflows with QuickBooks accounting software.
- MicrosoftcoreAvidSuite integration with Microsoft ecosystem for compatibility with Microsoft-based accounting and business systems.
- SagecoreIntegration with Sage accounting software allows customers to automate AP processes within their existing Sage environment.
- AcumaticacoreAvidSuite provides integration with Acumatica cloud ERP for seamless accounts payable automation.
- BlackbaudcoreIntegration with Blackbaud for nonprofits and educational institutions to automate AP processes within their existing Blackbaud systems.
- YardicoreIntegration with Yardi property management software for real estate customers to streamline accounts payable workflows.
- MRI SoftwarecoreIntegration with MRI Software for real estate and property management AP automation needs.
- MIP Fund AccountingcoreIntegration with MIP Fund Accounting for nonprofits and government entities to automate accounts payable processes.
- Rent ManagercoreIntegration with Rent Manager property management software for real estate customers.
Recent moves6 records
Expansion highlights5 records
BankTEL Systems competitors and assessment
Company assessmentDirect peers
- Bill.com: Bill.com is a leading AP and AR automation platform for SMB and mid-market customers. It is a direct competitor to AvidXchange (BankTEL's parent) in accounts payable and bill pay, with overlapping product surface including invoice capture, approval workflows, and payment execution.
- Tipalti: Tipalti provides end-to-end accounts payable automation including invoice processing, approval workflows, and global payments. It competes head-to-head with AvidXchange's AP automation stack (which now incorporates BankTEL) for mid-market and enterprise finance teams.
- MineralTree: MineralTree delivers AP and payment automation specifically targeted at banks serving their commercial customers, closely paralleling BankTEL's original financial-institution vertical. It is one of the closest direct competitors to the integrated AvidXchange/BankTEL offering for community banks and credit unions.
- Stampli: Stampli offers AI-powered AP automation with collaborative invoice management and payment processing. It directly competes with AvidXchange/BankTEL in mid-market AP, with overlapping use cases in invoice capture, approval routing, and payment automation.
- Versapay: Versapay provides invoice-to-cash and AP automation solutions for B2B networks. It overlaps with AvidXchange/BankTEL in invoice processing and collaborative accounts payable workflows, serving similar mid-market finance organizations.
- Corcentric: Corcentric delivers AP automation, procure-to-pay, and payment solutions for mid-market and enterprise customers. It is directly comparable to AvidXchange/BankTEL across the invoice-to-pay workflow, including automated approvals, supplier payments, and financial process optimization.
Emerging players
- Melio: Melio offers B2B accounts payable and payment automation focused on small businesses. It is an emerging player with meaningful overlap to AvidXchange/BankTEL in payment automation, though typically smaller deal sizes than BankTEL's financial-institution buyers.
- Ramp: Ramp is a fast-growing corporate card and spend-management platform with embedded AP/approval workflows. It competes against AvidXchange/BankTEL in the broader invoice-to-pay and spend-management category for SMB and mid-market buyers, though with a more consumer-style product experience.
Broad incumbents
- SAP Concur: SAP Concur is an established enterprise spend, travel, and invoice management platform. As a broad incumbent it overlaps AvidXchange/BankTEL across invoice automation and AP workflows for larger enterprises, but as part of a much wider portfolio rather than BankTEL's financial-institution niche.
- Sage Group: Sage provides accounting and AP automation as part of its broader ERP and financial-management suite. AvidXchange/BankTEL integrates with Sage rather than competing head-on, but Sage's embedded AP functionality makes it a broad incumbent that overlaps in the customer base.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
BankTEL Systems social profiles
Digital presenceBankTEL Systems compliance and trust
Trust signalCompliance1 record
BankTEL Systems financial estimates
Financial estimateRevenue estimate
Valuation estimate
BankTEL Systems leadership team
Management profileNumber of profiles
Profiles3 records
BankTEL Systems funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BankTEL Systems M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about BankTEL Systems
What does BankTEL Systems do?
BankTEL Systems provides financial institutions such as banks and credit unions with software for shareholder management and accounts payable automation through its Ascend product suite. Following its acquisition by AvidXchange, the products continue under the AvidXchange umbrella as AvidAscend, offering invoice processing, purchase order automation, and B2B payment automation integrated with major ERP systems.
Is BankTEL Systems a public or private company?
BankTEL Systems is a private company. It is classified as corporate owned and is currently acquired.
When was BankTEL Systems founded?
BankTEL Systems was founded in 1992. It employs 11 to 50 people.
Where is BankTEL Systems based?
BankTEL Systems is headquartered in Columbus, United States, in the North America region.
Who are BankTEL Systems's main competitors?
Direct peers on record are Bill.com, Tipalti, MineralTree, Stampli, Versapay and Corcentric. Emerging players are Melio and Ramp. Broad incumbents are SAP Concur and Sage Group.
Does BankTEL Systems have an API?
No public API is recorded for BankTEL Systems.
What industry is BankTEL Systems in?
BankTEL Systems's product category is Financial Services Software. Its primary akta.pro industry code is BPAMAFAF, Bill Pay, Invoicing & Payables Platforms, with a secondary code of FSAMAJAA, Biller Direct EBPP Platforms. Its NAICS code is 5223 and its SIC code is 6199.