CSI, a prominent FinTech provider, known for its comprehensive financial software and technology solutions, has announced the acquisition of Velocity Solutions, renowned for its intelligent deposit growth and overdraft management software.
Velocity Solutions brings to the table best-in-class solutions for account and deposit acquisition, customer engagement, and retention, as well as advanced software for consumer liquidity management through its Intelligent Platform®.
The acquisition aims to enhance CSI’s offerings in the financial sector by integrating Velocity’s data-driven approaches to deposit management and intelligent overdraft decisioning systems. These systems are designed to deepen customer relationships while minimizing risk exposure for financial institutions.
CSI stands out as a forward-thinking software provider, dedicated to aiding community and regional banks, as well as global organizations, in meeting customer needs through innovative and agile technologies. With a nearly 60-year legacy of personalized service, CSI continues to shape the future of banking with rapid deployment of advanced solutions that enable its customers to rival larger competitors.
Velocity Solutions has a nearly 30-year history of servicing over 30 million consumers and business owners. The company’s Intelligent Platform supports banks and credit unions in managing risk, driving revenue, and enhancing account holder engagement, thereby boosting non-interest income.
David Culbertson, president and CEO of CSI, commented, “Our customers rely on us to provide the advanced tools and software that drive revenue, efficiency and cost savings.
“Velocity’s data-driven approach to deposit management and its intelligent overdraft decisioning engine are each designed to deepen relationships with account holders while minimizing risk exposure for financial institutions. Integrating Velocity’s advanced solutions into our existing financial services suite is CSI’s latest commitment to creating new paths to growth for financial institutions throughout the country.”
Christopher Leonard, CEO of Velocity Solutions, added, “The CSI and Velocity teams are united by the same mission to empower community and regional financial institutions to compete and win against the largest banks in the country.
“Our customers are facing increasing pressure to grow in a challenging rate and deposit environment and require innovative ways to acquire and serve their account holders. We are eager to tap into CSI’s deep expertise and development prowess to expand our banking management platform and support customers in meeting their goals.”
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