CSI Secures Record Number of NuPoint® Customer Deals

Rhea-AI Summary

Computer Services, Inc. (CSVI) reported a record-breaking first half of fiscal 2023, with 15 new partnerships for its NuPoint® core banking platform. The growth strategy has expanded the company's reach, marking the first core banking solutions in Arizona, New Hampshire, and Washington. The anticipated customer base will surpass the previous record of 26 new agreements. In conjunction with its acquisition by Centerbridge Partners and Bridgeport Partners, CSI is enhancing cloud services and API integrations, focusing on innovation and customer service.

Positive

• Achieved 15 new partnerships in the first half of FY2023.
• Projected to exceed previous record of 26 new deals in FY2021.
• First-time core banking solutions offered in Arizona, New Hampshire, and Washington.
• Strong customer acquisition despite pandemic challenges.
• Committed to enhancing public cloud services and API integrations.

Negative

• None.

PADUCAH, Ky.--(BUSINESS WIRE)-- Computer Services, Inc. (CSI) (OTCQX: CSVI), a leading provider of end-to-end fintech and regtech solutions, announced a record-setting first half of the 2023 fiscal year beginning March 1, 2022. The company has signed 15 new partnership deals for its NuPoint^® core platform with banks throughout the country. Three additional de novos are expected to go live by the end of the year. Fiscal-year-end projections are tracking toward a record number of new customers, surpassing the company’s previous single-year record of 26 new deals in fiscal year 2021.

“Our Enterprise Banking Group’s commitment to our robust growth strategy has yielded powerful results and surpassed targets year after year,” said David Culbertson, CEO and president of CSI. “The steady increase in new customer signings over the last few years has extended our footprint across the country and positioned CSI as the premier core solution for banks of all sizes and locations.”

The recent partnerships mark the first time CSI will provide core banking solutions to customers in Arizona, New Hampshire and Washington. Customers often cite CSI’s leading suite of products and first-class service as major reasons for converting to NuPoint®.

“The process of searching for a new core was rigorous and we evaluated multiple vendors,” said David Rupp, CEO and president of Virginia-based Movement Bank. “CSI stood out as having the best integrated platform coupled with the highest service level. We are excited to transition to the NuPoint® platform and believe CSI will be an outstanding partner as we continue to grow and broaden our impact.”

In the past 10 years, CSI’s concentrated growth initiatives have increased sales to community banks throughout the country, more than tripling the company’s footprint. CSI’s customer acquisition strategy continued to thrive even during the initial months of the pandemic. CSI’s newest customers cite the company’s personalized support, comprehensive and integrated product suite, and commitment to each institution’s community as key differentiators in the core banking industry.

“Our customers are consistently impressed with the complete portfolio of services we bring to the table,” said Giovanni Mastronardi, CSI’s group president of Enterprise Banking. “We focus on delivering industry-leading solutions with best-in-class service and cutting-edge technology to help our institutions achieve their goals and continue to grow. We’re excited to welcome these banks to CSI and create a positive impact within their communities.”

Today’s news follows the announcement that CSI entered into a definitive agreement to be acquired by private equity firms Centerbridge Partners, L.P. and Bridgeport Partners. The company remains focused on enhancing its public cloud services, deepening its API integrations and customer-facing programs, and continuing to fuel its more than 57-year history of top-tier innovation and customer service.

For more information on CSI, visit csiweb.com.

About CSI

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-Novarica 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. For more information, visit csiweb.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220908005369/en/

Callie Neatherlin

media@csiweb.com

Source: Computer Services, Inc.

FAQ

What new partnerships did Computer Services, Inc. sign in FY2023?

Computer Services, Inc. signed 15 new partnerships in the first half of FY2023 for its NuPoint® core banking platform.

How many new customer deals is CSVI projected to achieve in FY2023?

CSVI is projected to surpass its previous record of 26 new customer deals in fiscal year 2021.

In which states is CSVI providing core banking solutions for the first time?

For the first time, CSVI will provide core banking solutions in Arizona, New Hampshire, and Washington.

Who are the private equity firms acquiring Computer Services, Inc.?

Computer Services, Inc. is being acquired by Centerbridge Partners and Bridgeport Partners.

What strategies has CSVI implemented to boost customer acquisition?

CSVI's growth strategies focus on personalized support, a comprehensive product suite, and strong community commitments.