FINANCIAL MANAGEMENT

Alkami Partners with Array to Enable Financial Institutions Boost Digital Engagement

Alkami | June 10, 2022

Alkami_Partners_with
On June 9th, Alkami Technology, a prominent cloud-banking digital solutions provider in the U.S., announced an alliance with Array, an innovation platform specializing in financial services. Following the partnership, Alkami Technology will be able to offer Array’s range of solutions to their client base, comprising of My Credit Manager, Offers Engine, and ID Protect.

Improving the digital-first banking experience is a top priority for banks and credit unions. Our partnership with Array enables banks and credit unions to provide added-value products to account holders, which increases engagement and potentially revenue as well.”

Stephen Bohanon, Founder, Chief Strategy & Product Officer of Alkami

Alkami offers financial and banking services with a wide berth of digital banking solutions focused on user-onboarding, account servicing, and engagement.

Array is known for promoting financial literacy and providing offerings that help customers understand, navigate, and secure their credit.

The time is now for community banks and credit unions to accelerate their digital transformation so they can continue to offer a differentiated level of personal service. Today’s success formula for personal service includes a mix of in-branch experiences and digital tools that add value to account holders every time they log in. Alkami and Array are making it easier than ever to help banks and credit unions deploy a consistent roadmap of innovative digital products for account holders.”

Martin Toha, co-founder and CEO of Array

Spotlight

In the financial services industry, the need for transformation and innovation is higher than ever before. We understood what‘s at stake. And that‘s why we launched SAP Fioneer – the best of both worlds.

SAP Fioneer brings the core banking and insurance expertise of our trusted SAP heritage to build the next generation of financial services software, together with our clients. SAP partnered up with DEDIQ to combine best-of-breed technology with new investment power, an entrepreneurial spirit and an innovative approach.

We bring together embedded solutions and holistic services end-to-end – covering the complete customer experience for B2B, whilst delivering an outstanding and personalised experience for the end user. SAP Fioneer is the SAP you know and trust, but with a hyper focus on financial services.

Spotlight

In the financial services industry, the need for transformation and innovation is higher than ever before. We understood what‘s at stake. And that‘s why we launched SAP Fioneer – the best of both worlds.

SAP Fioneer brings the core banking and insurance expertise of our trusted SAP heritage to build the next generation of financial services software, together with our clients. SAP partnered up with DEDIQ to combine best-of-breed technology with new investment power, an entrepreneurial spirit and an innovative approach.

We bring together embedded solutions and holistic services end-to-end – covering the complete customer experience for B2B, whilst delivering an outstanding and personalised experience for the end user. SAP Fioneer is the SAP you know and trust, but with a hyper focus on financial services.

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ABNB Federal Credit Union Launches BioCatch on Alkami Digital Banking Platform

Alkami, ABNB Federal Credit Union and BioCatch | September 01, 2022

Alkami Technology, Inc., a leading cloud-based digital banking solutions provider for banks and credit unions in the U.S., today announced its client, ABNB Federal Credit Union, has launched the BioCatch solution via the Alkami Platform to protect members from fraud attacks and cybercrime with state-of-the-art fraud mitigation technology. "The steady increase in mobile and online banking usage by our members over the past two years has led to a similar spike in fraudulent activities, The addition of BioCatch will help us further protect our members in real time from threats such as social engineering scams, account takeovers, fraudulent account opening and mule account detection," -Mick Vollmer, chief information officer of ABNB A member of Alkami's Gold Partner Program, BioCatch monitors user behavior throughout the account lifecycle, at origination and continuously throughout each online session, to identify risk by analyzing actions such as mouse movements, typing cadence or interaction with the screen. Leveraging machine learning to produce a risk score, BioCatch identifies and alerts the financial institution to genuine or fraudulent behavior. The technology helps ensure account holders are provided with a secure and seamless digital experience all while reducing the financial institution's risk. We believe that no financial institution should have to accept increased fraud risk in order to deliver a premium customer experience, and we observe that the most sophisticated fraud attacks do not discriminate based on size, stature or location. By leveraging our cutting-edge technology, ABNB can provide its members with a world-class online banking experience while protecting against the newest fraud attacks before funds are lost. BioCatch is committed to Alkami's gold standard in digital banking by enabling seamless user experiences through our fraud prevention techniques. We are pleased our partnership with Alkami is enabling more financial institutions to protect their most vulnerable clients and provide enhanced digital user experiences,said Gadi Mazor, chief executive officer of BioCatch. Security and fraud prevention are top of mind for financial institutions across the country. ABNB is another Alkami client leading the way in their adoption of bleeding edge innovation to guard and protect their members, I am thrilled to see ABNB joining the community of Alkami clients working to proactively get ahead of these threats while also enhancing the user experience,added Stephen Bohanon, co-founder and chief strategy and product officer of Alkami. About Alkami Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly and build thriving digital communities. Alkami helps clients transform through retail and business banking, digital account opening and digital loan origination, multi-payment fraud prevention, and data analytics and engagement solutions. About ABNB Federal Credit Union ABNB is a full-service financial institution providing personal and business financial services to its members in Greater Hampton Roads, Virginia and Northeastern North Carolina. With fourteen branches and a nationwide network of credit union service centers and surcharge-free ATMs, ABNB currently serves nearly 78,000 members. About BioCatch BioCatch is the leader in Behavioral Biometrics, technology that leverages machine learning to analyze an online user's physical and cognitive digital behavior to protect individuals online. Today, BioCatch counts over 25 of the top 100 global banks as customers who use BioCatch solutions to fight fraud, drive digital transformation and accelerate business growth. With over a decade of analyzing data, more than 80 registered patents, and unparalleled experience, BioCatch continues to innovate to solve tomorrow's problems.

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FINANCIAL MANAGEMENT

BankiFi Expands Operations into North America

BankiFi | July 22, 2022

BankiFi, an embedded banking solutions provider, announced its expansion into North America with the launch of BankiFi Americas. The organization’s growth and expansion into the U.S. market will support the unique digitization and payment modernization requirements of SMBs, while placing financial institutions at the heart of the relationship. Currently, community financial institutions in the U.S. are facing existential threat from fintech platforms, national banks and accounting package vendors that are offering a competitive suite of payment solutions to SMBs. With BankiFi’s open cash management platform and architecture, financial institutions can embed a flexible solution that can be tailored to address the unique segments of their small business portfolio. The platform addresses critical SMB requirements through digital workflows that collect payments faster, automate data integration with accounting platforms, and provide comprehensive insights to optimize working capital. “SMBs in the U.S. are facing the same problems we’ve seen in the U.K. and Australia, including late payments and time delays due to financial administration. “Within our technology, we aim to transform services available to SMBs within community banking, across the U.S.” Mark Hartley, CEO and Founder of BankiFi Financial services veteran, Keith Riddle, has been appointed to lead BankiFi Americas. With more than 35 years of experience in the financial industry, Riddle’s career spans executive roles at Sherpa Technologies and several industry-leading firms specializing in digital banking, bill presentment and payment, EFT processing services, wholesale financial services and cloud computing. “I’ve been following BankiFi’s incredible success in partnering with financial institutions to serve SMBs in the U.K., and realized the importance of enabling a comprehensive open cash management solution for financial institutions and their SMBs within the U.S.,” said Keith Riddle, CEO of BankiFi Americas. “I’m delighted to take the reins at BankiFi U.S. and build on what the U.K. team is doing in terms of digitizing the critical small business workflows and embedding the solution within financial institutions’ digital channels, in what is certainly an exciting time for the sector.” About BankiFI BankiFi is on a mission to help over 2 million SMBs, globally, by 2024 by partnering with banks and financial institutions to provide technology designed to make business banking better.

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FINANCIAL MANAGEMENT

CSI to be Acquired by Centerbridge and Bridgeport for $1.6 billion

Centerbridge, Computer Services, Inc. and Bridgeport | August 23, 2022

Computer Services, Inc., a leading provider of end-to-end fintech and regtech solutions, announced today it has entered into a definitive agreement to be acquired by Centerbridge Partners, L.P. (Centerbridge), a global, multi-strategy private investment firm with deep experience investing in financial services and technology, and Bridgeport Partners (Bridgeport), a private investment firm with a long-term, value-oriented approach, in an all-cash transaction valued at approximately $1.6 billion, or $58.00 per share. The transaction follows a robust strategic review process and was unanimously approved by CSI’s board of directors. Under the terms of the agreement, CSI shareholders will receive $58.00 per share in cash upon the closing of the transaction, which is expected to occur in the fourth quarter of calendar year 2022, subject to customary closing conditions, including CSI shareholder approval and regulatory review. The per-share purchase price represents a 53% premium to CSI’s closing stock price on Aug. 19, 2022, the last full trading day before the agreement was announced, and a premium of 54.4% over CSI’s 30-day volume-weighted average share price. “After a thorough strategic review, the CSI board of directors is very pleased to announce this transaction and believes it is in the best interests of our shareholders, Upon completion of the transaction, CSI intends to continue operating under the leadership of CEO David Culbertson and the CSI leadership team, with its headquarters expected to remain in Paducah, Kentucky.” -Steve Powless, CSI’s Chairman of the Board Further, in connection with the transaction, all members of the CSI board of directors and Founder and Chairman Emeritus John A. Williams have entered into a voting and support agreement to vote in favor of the transaction. Mr. Williams commented, “Having formed CSI nearly six decades ago, I am pleased to support this transaction as it will provide shareholders with immediate cash at a compelling value premium. In addition, I believe that our customers, employees and communities can rest assured that—based on their history—current management, Centerbridge and Bridgeport will continue CSI’s legacy.” CSI’s long history of delivering end-to-end, market-leading solutions includes serving nearly 2,600 customers in the U.S. and in 30 other countries while pioneering innovative technology advancements. For more than 57 years, CSI has been known as a leader in innovation and customer service. Centerbridge and Bridgeport have deep experience in technology and financial services as owners and operators. Working together after the closing, CSI intends to execute our strategic plans to expand and diversify our product offerings, transform our technology to leverage the scale and resiliency of the public cloud, and deploy optimized fintech and regtech solutions through our open banking and banking-as-a-service initiatives,” said David Culbertson, CSI’s President and CEO. In working with Centerbridge and Bridgeport, CSI plans to carry on its tradition of excellence and continue to invest in its product roadmap to bring more solutions to market faster. Supporting high-quality companies is central to our strategy at Centerbridge, and we have a deep track record of doing so in both financial services and technology. We are excited to work with CSI, as we share a like-minded commitment to innovation for customers and satisfaction for employees, CSI has a long, distinguished history in Paducah, Kentucky, as well as other local communities across the nation. We plan to continue our commitment and investment in these communities to further foster the CSI legacy,said Jared Hendricks, Senior Managing Director at Centerbridge and Ben Jaffe, Managing Director at Centerbridge. Centerbridge and Bridgeport bring years of experience driving growth and value for businesses across a variety of industries. I am pleased to have this opportunity to partner with Centerbridge on the acquisition of CSI, a company that I have followed closely for decades and have respected as a real leader in financial services and technology, CSI has always been known for its commitment to its customers, employees, partners and the communities it serves—a reputation that Centerbridge and Bridgeport are committed to maintaining while we work together with David and his team to implement the company’s growth initiatives,said Frank Martire, Bridgeport’s Founder. Transaction Details Closing of the transaction is subject to customary conditions, including approval by CSI’s shareholders and the receipt of regulatory approvals. Upon completion of the transaction, CSI will become a privately held company, and its common stock will no longer be listed on any public market. Raymond James & Associates, Inc. and Moelis & Company LLC are acting as co-financial advisors to CSI, and Nelson Mullins Riley & Scarborough LLP is acting as its legal counsel. Goldman Sachs & Co. LLC and Jefferies LLC are acting as financial advisors to Centerbridge and Bridgeport. Kirkland & Ellis LLP is serving as legal counsel to Centerbridge. Aviditi Financial, LLC is serving as a capital markets advisor to Bridgeport. Weil, Gotshal and Manges LLP is serving as legal counsel to Bridgeport. About the Proposed Transaction A copy of the merger agreement and a presentation related to the proposed transaction will be posted on the Investor Relations section of CSI’s website at https://www.csiweb.com/who-we-are/investor-relations. The description of the merger agreement in this press release does not purport to be complete and is qualified in its entirety by reference to the full text of the merger agreement. 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. About Centerbridge Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines—private equity, private credit and real estate—in an effort to develop the most attractive opportunities for our investors. The firm was founded in 2005 and, as of June 30, 2022, has approximately $34 billion in capital under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies. About Bridgeport Bridgeport Partners is a private investment firm with a long-term, value-oriented approach to investing. Bridgeport invests proprietary capital and partners with strategic sources of capital with a long-term orientation to support management teams and companies through industry and economic cycles. The firm, founded by Frank Martire, is led by seasoned operators and investors with decades of experience successfully building and leading companies in the public and private markets.

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