Cass Information Systems, Inc. To Acquire TouchPoint, Leading National Church Management Software (ChMS) Provider

Rhea-AI Summary

Cass Information Systems (NASDAQ: CASS) has announced its acquisition of TouchPoint, a mobile church management software developer. This acquisition aims to enhance services for faith-based and non-profit organizations, combining TouchPoint’s capabilities with Gyve Generosity Services, an online giving platform owned by Cass. Ross Miller, former COO of Pursuant, will lead the integration. This merger is expected to provide an all-in-one solution for member engagement and financial management, reflecting Cass's commitment to this sector.

Positive

• Acquisition of TouchPoint enhances Cass's service offerings to faith-based and non-profit organizations.
• Integration with Gyve Generosity Services promises an all-in-one solution for clients.
• TouchPoint's backing by a regulated bank enhances its service capabilities.

Negative

• None.

ST. LOUIS--(BUSINESS WIRE)-- Cass Information Systems, Inc. (NASDAQ: CASS) has entered into an agreement to acquire the assets of mobile church management software (ChMS) developer TouchPoint, a division of The Pursuant Group, Inc., based in Dallas, Texas. TouchPoint’s solutions help faith-based and non-profit organizations engage members and efficiently manage activities.

Ross Miller, current chief operating officer of Pursuant and president of TouchPoint, will join Cass as a Vice President and lead the combination of TouchPoint with Gyve Generosity Services, also owned by Cass. Gyve is an online giving platform that combines multiple ways to make a gift (including credit card, debit card, and direct debit) with generosity advising and bank offerings, such as lending and depository services.

“By adding online gift processing capabilities to TouchPoint’s current suite of services, the new division will offer faith-based and non-profit organizations an all-in-one solution,” said Martin Resch, Chief Operating Officer of Cass Information Systems. “TouchPoint provides the growth-oriented support that these organizations are seeking and demonstrates the expanded commitment Cass is making to this important segment.”

“Enhancing TouchPoint with Gyve’s giving platform significantly enhances our current offering to clients,” noted Miller. “With Cass, TouchPoint is backed by the advanced capabilities of a regulated commercial bank. TouchPoint becomes a sole-source technology and financial partner making it easier for clients to manage member activities, achieve financial goals and make a difference in their communities.”

Cass Commercial Bank, the wholly owned banking subsidiary of Cass, has provided banking products to faith-based and other non-profit entities since 1994. It has more than 250 faith-based and non-profit clients across the United States and has funded more than $1 billion of church expansion projects.

About Cass Commercial Bank

Founded in 1906, Cass Commercial Bank provides sophisticated financial exchange services to its parent company as well as its clients and consistently ranks among the top performing banks in the United States. Learn more about Cass Commercial Bank at CassBank.com.

About Cass Information Systems

Cass Information Systems, Inc. is a leading provider of integrated information and payment management solutions. Cass enables enterprises to achieve visibility, control and efficiency in their supply chains, communications networks, facilities and other operations. Disbursing over $80 billion annually on behalf of clients, and with total assets in excess of $2.4 billion, Cass is uniquely supported by Cass Commercial Bank. Cass is part of the Russell 2000^®. More information is available at www.cassinfo.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220531005041/en/

Kenn Entringer, 314/721-2828

Source: Cass Information Systems, Inc.

FAQ

What is the purpose of Cass's acquisition of TouchPoint?

The acquisition aims to enhance services for faith-based and non-profit organizations by integrating TouchPoint's capabilities with Cass's Gyve Generosity Services.

What impact will the TouchPoint acquisition have on Cass's services?

The acquisition will provide an all-in-one solution for member engagement and financial management, significantly improving offerings for clients.

Who will lead the integration of TouchPoint with Cass's existing operations?

Ross Miller, the former COO of Pursuant and president of TouchPoint, will join Cass as a Vice President to lead the integration.

How has Cass historically supported faith-based organizations?

Cass Commercial Bank has provided banking products and financial services to faith-based and non-profit clients since 1994, funding over $1 billion of church expansion projects.