Computer Services Inc (CSI) will participate in the FedNow pilot program with the aim of increasing the adoption of instant payments in the US.
CSI delivers core processing, digital banking, managed services, payments processing, print and electronic document distribution, as well as regulatory compliance solutions to financial institutions and corporate customers, both foreign and domestic. The company claims it is a provider of end-to-end FinTech and RegTech solutions.
Established by the US Federal Reserve, the FedNow pilot program will support development, testing and adoption of the FedNow real-time payments service. It will also encourage development of services and use cases that leverage FedNow functionality.
According to CSI, as a member of the program it will play an ‘instrumental part’ in shaping the service’s features and functionality to ensure industry readiness.
CSI president and COO David Culbertson said, “CSI develops innovative technology solutions to provide our customers with the tools needed to create a seamless payment experience.
“Through CSI’s participation in the FedNow Pilot Program, we will offer our expertise in digital payments to influence and shape the FedNow Service, so it provides the greatest benefit possible to community financial institutions and consumers. Our bank customers will be among the first to process real-time payments using the new platform.”
Earlier this year, Kentucky-based CSI collaborating with CivilTas Bank Solutions to provide the latter’s community bank customers with managed services solutions.
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