CSI, a prominent player in the financial software and technology industry, announced a strategic investment from TA Associates (TA).
The partnership adds to the existing support from majority investor Centerbridge Partners, L.P. (Centerbridge) and minority investor Bridgeport Partners (Bridgeport).
This investment marks a pivotal moment in CSI’s impressive nearly six-decade journey, where it has consistently equipped community bankers with cutting-edge technology fostering growth, efficiency, and customer loyalty.
“In our nearly 60-year history, we have remained uniquely focused on empowering community bankers with the most advanced technology that drives efficiency, meaningful growth and account holder loyalty,” stated CSI CEO and President David Culbertson. The addition of TA aligns with CSI’s ambition to enhance its extensive technology suite and evolve with modern solutions essential for community bankers.
The past fiscal year has been extraordinary for CSI, witnessing a 36% sales increase. The company has introduced significant updates to its software platform, made strategic hires, partnered with digital banking and treasury management FinTech Dragonfly Financial Technologies, and acquired loan origination software provider Hawthorn River. These accomplishments demonstrate CSI’s commitment to aiding community banks in competing effectively and deploying impactful technologies across various operational spectrums.
TA’s decision to invest was influenced by CSI’s reputation as a leading innovator in the core banking market. “It’s crucial for community banks to offer solutions that are both user-friendly and highly secure,” commented Hythem T. El-Nazer, Managing Director for TA, emphasizing CSI’s customer-first philosophy and SaaS cloud solution expertise. With the investment, El-Nazer and Mike Libert, Managing Director at TA, will join CSI’s board alongside current members such as Jared Hendricks from Centerbridge and Bridgeport’s Founder, Frank Martire.
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