CSI has taken a significant step in bolstering its offerings for community banks by acquiring Qolo, a fintech provider specializing in modern treasury solutions and payments infrastructure. This strategic move is designed to equip smaller financial institutions with the tools necessary to compete against larger banks, thereby enhancing their operational capabilities. The integration of Qolo's advanced technology into CSI's existing banking platform will introduce features such as a real-time account ledger, a unified payment engine for seamless money movement, and expanded capabilities for issuing and processing various payment types, including debit and corporate credit cards.
Nancy Langer, President and CEO of CSI, emphasized that this acquisition will empower community banks to leverage their local expertise and trusted relationships while enhancing their service offerings. By incorporating Qolo’s technology, these banks can better serve their commercial clients, fostering deeper relationships and becoming integral to the financial operations of businesses. Patricia Montesi, Co-Founder and CEO of Qolo, highlighted the challenges faced by community banks and fintechs, including fragmented systems and manual processes, and expressed confidence that joining forces with CSI will enable more robust investments in the infrastructure necessary for modern financial experiences.
This acquisition follows CSI's recent purchase of Apiture, a digital banking solutions provider, indicating a clear trend towards consolidating technology capabilities to better serve financial institutions. By combining resources, CSI aims to offer comprehensive solutions that enhance customer engagement and retention, solidifying its position in the competitive landscape of financial technology.
Nancy Langer, President and CEO of CSI, emphasized that this acquisition will empower community banks to leverage their local expertise and trusted relationships while enhancing their service offerings. By incorporating Qolo’s technology, these banks can better serve their commercial clients, fostering deeper relationships and becoming integral to the financial operations of businesses. Patricia Montesi, Co-Founder and CEO of Qolo, highlighted the challenges faced by community banks and fintechs, including fragmented systems and manual processes, and expressed confidence that joining forces with CSI will enable more robust investments in the infrastructure necessary for modern financial experiences.
This acquisition follows CSI's recent purchase of Apiture, a digital banking solutions provider, indicating a clear trend towards consolidating technology capabilities to better serve financial institutions. By combining resources, CSI aims to offer comprehensive solutions that enhance customer engagement and retention, solidifying its position in the competitive landscape of financial technology.
Source: PYMNTS
