CSI Partners with NYDIG to Provide Financial Institutions Simple, Secure Access to Bitcoin

Rhea-AI Summary

Computer Services, Inc. (CSVI) has partnered with NYDIG to provide a comprehensive suite of Bitcoin services for community financial institutions. This initiative enables customers to buy, sell, and hold Bitcoin seamlessly within CSI’s digital banking platform, enhancing user experience and compliance with industry standards. A recent survey indicates that 81% of respondents would use Bitcoin services offered by their banks. The collaboration aims to meet the growing demand for digital assets while maintaining security and compliance.

Positive

• CSI's partnership with NYDIG enables banks to offer Bitcoin services, tapping into customer interest.
• Survey indicates 81% of consumers would buy Bitcoin from their bank, indicating strong market demand.
• NYDIG's compliance-focused solutions enhance security for institutions offering Bitcoin services.

Negative

• None.

PADUCAH, Ky.--(BUSINESS WIRE)-- Computer Services, Inc. (CSI) (OTCQX: CSVI), a provider of end-to-end fintech and regtech solutions, has partnered with NYDIG, a leading bitcoin company, to offer a full suite of turnkey Bitcoin services to community financial institutions.

Powered by NYDIG, the new offering allows banking customers to buy, sell, and hold bitcoin directly within CSI’s digital banking platform, creating a safe and efficient way for users to manage their digital transactions.

According to a 2021 survey commissioned by NYDIG, 81% of respondents said they’d be interested in purchasing bitcoin from their bank if the service was available. In the same survey, 71% of those responding who already owned the digital asset said they’d switch their primary bank to one that offered Bitcoin-related products and services.

“Bitcoin is one of the fastest growing areas of consumer interest, and we feel strongly about giving customers the ability to safely buy, sell and invest in it,” said Gerald Reiter, president and CEO at Granite Bank, a CSI core banking customer.

NYDIG’s products meet the industry’s highest regulatory, audit, and governance standards, enabling financial institutions to maintain strict compliance programs while enhancing the banking experience for customers.

“Community banks are excited about offering Bitcoin services to their customers, but they also know that they need to provide a secure and compliant environment to maintain the trust that their customers place in them,” said Patrick Sells, NYDIG Chief Innovation Officer. “By partnering with CSI, we can help community banks meet the growing demand for bitcoin while remaining compliant and secure with a seamless customer experience through the CSI digital banking platform.”

The new offering joins CSI’s full suite of digital banking technology that provides a wide range of solutions for financial institutions, including mobile banking, digital account opening, web design and hosting and digital payments.

“At CSI, our top priority is helping our customers remain on the edge of innovation,” said Giovanni Mastronardi, CSI’s group president of Enterprise Banking. “It’s vital that we enable community financial institutions to grow their assets and reach new customers by integrating Bitcoin along with our suite of innovative digital banking products.”

About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core processing, digital banking, managed cybersecurity, cybersecurity compliance, payments processing, print and electronic document distribution, and regulatory compliance solutions to financial institutions and corporate customers, both foreign and domestic. Management believes exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation and have resulted in the Company’s inclusion in such top industry-wide rankings as IDC Financial Insights FinTech 100, Talkin’ Cloud 100 and MSPmentor Top 501 Global Managed Service Providers lists. CSI has also been recognized by Aite Group, a leading industry research firm, as providing the “best user experience” in its AIM Evaluation: The Leading Providers of U.S. Core Banking Systems. In addition, CSI's record of increasing its dividend each year for 49 years has earned it a designation of one of the financial media’s “Dividend Aristocrats.” CSI’s stock is traded on OTCQX under the symbol CSVI. For more information, visit csiweb.com.

About NYDIG
NYDIG is a bitcoin company powering a more inclusive economic system. Delivering technology and financial services to businesses in a broad range of industries, its full-stack bitcoin platform is built to the highest security, regulatory, and operational standards. NYDIG is the gateway to a new era of financial products that make bitcoin more accessible for all. Learn more at nydig.com, or connect on LinkedIn and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220106005118/en/

Laura Sewell

For CSI

270-349-9212

Haleigh Tomasek

For CSI

678-781-7208

Source: Computer Services, Inc.

FAQ

What is the significance of Computer Services Inc.'s partnership with NYDIG?

The partnership allows community banks to offer Bitcoin services, leveraging CSI's digital banking platform.

How does the survey impact CSVI's Bitcoin service offering?

The survey shows that 81% of respondents would be interested in purchasing Bitcoin from their bank, highlighting potential customer demand for CSVI's services.

What are the benefits of CSI's new Bitcoin services for financial institutions?

The new services provide a compliant and secure environment for banks to meet customer demand for Bitcoin transactions.

How does CSI maintain security with its Bitcoin offerings?

CSI's partnership with NYDIG ensures that the Bitcoin services comply with industry regulations, enhancing security.