FAIRMONT, W.Va. — On Friday, MVB Bank, Inc. announced the formation of a new wholly-owned subsidiary, MVB Edge Ventures.

According to a media release, MVB Edge Ventures is based on a private equity fund model and provides management oversight, alignment and structure for MVB’s technology investments and allocates resources to help incubate technologies developed by MVB.

Three companies now fall under the MVB Edge Ventures structure: Victor Technologies, Inc. (“Victor”); MVB Technology, LLC (“GRAND”); and Flexia Payments, LLC (“Flexia”).

“With the launch of MVB Edge Ventures, MVB continues to set ourselves apart from the pack on the financial frontier. We don’t just bank Fintech companies, we also create, develop and invest in them. The three new businesses under the new MVB Edge Ventures umbrella already have significant traction,” said Larry F. Mazza, President, CEO, MVB Financial.

MVB created the Victor platform to make it faster and easier to launch, and scale, a broad spectrum of Fintech solutions for the Gaming, Payments, Banking-as-a-Service and Digital Asset sectors. Fintech developers can build solutions to manage and move money in a matter of weeks with developer-friendly APIs, the release states.

The release shows that banks can now onboard and manage more programs with Victor’s tailored due diligence, risk assessment and oversight workflow tools. Recognizing the complexity of the Fintech ecosystem, Victor also supports seamless integration with a proven network of value-added technology and service providers.

“Victor has a tremendous amount of demand for simple, secure and developer-friendly APIs for money movement and managing accounts. We expect to go live with our first client this quarter and have a growing implementation pipeline,” said Matt West, President, MVB Edge Ventures.

MVB holds a majority interest in Flexia, a prepaid card platform for land-based casinos to facilitate the move to a totally cashless casino floor. The Las Vegas-based Fintech company provides users with access to a reloadable account that combines a debit account and casino gaming accounts into one card, allowing for non-cash transactions at participating casinos, according to release.

This acquisition continues to advance MVB’s relationships within the Gaming industry.

According to release, GRAND provides cheaper, faster payments from a modern bank account. Account holders fund their GRAND account using a bank account, card or direct deposit and can then seamlessly transfer between their GRAND account and their favorite apps. GRAND helps drive significant savings for online merchants through a streamlined process for customer fund transfers.

“By formalizing our infrastructure around MVB’s technology businesses, we are leveraging MVB’s management expertise in financial technology and enhancing our ability to scale our Gaming, Banking-as-a-Service, Payments and Digital Asset initiatives,” Mazza added.