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Banking-as-a-service from CSI Boost New Fintech Partnerships

BaaS Capabilities at CSI Promote New Fintech Partnerships

Computer Services, Inc. (CSI) informed on February 8, 2023, that it helped ECHO Health, Inc. and MOCA Financial, Inc. form relationships with financial institutions to launch banking-as-a-service (BaaS) and payments initiatives by providing a comprehensive suite of prebuilt open APIs.

CSI's state-of-the-art API allows for easy, secure, and audited access to a wide range of products, including but not limited to account opening, deposits, savings, payments, cards, identity verification, and other essential facets of the financial industry.

By using these application programming interfaces (APIs), fintechs can quickly and easily integrate with CSI's tech ecosystem's financial institutions to develop and distribute BaaS solutions. This opens up previously unimaginable possibilities for financial organizations to generate additional income streams, reduce operational risk, and tighten up on data security.

Anchor Bank, a CSI enterprise banking core customer, is the sponsor bank for insurance claim disbursement leader ECHO Health, Inc. ECHO and CSI can automate vast numbers of individual coverage HRA (ICHRA) disbursements, issue virtual card payments to healthcare providers using commercial credit and prepaid cards, and simplify user access to healthcare savings accounts.

Jeff Lewis, Senior Vice President of Payments at ECHO, stated, "Reducing friction in our payments processing services has long been a priority." Jeff Lewis continued, "CSI's prebuilt open API platform—combined with its long history of financial services and fintech innovation—meant they were the perfect partner to help us deploy this initiative, which streamlines our current payments operations and creates a new opportunity to automate and scale our capabilities."

(Source – Business Wire)

MOCA Financial, Inc., a digital-first card-based payments provider, and Horizon Bank, CSI's primary customer, have implemented API technology from CSI to increase market share and customer satisfaction. As a result, Horizon Bank can offer native mobile payments and purpose-driven cards to MOCA, thanks to CSI's innovative card program!

David Culbertson, CEO and President of CSI, said, "Community banks are increasingly exploring open banking and BaaS applications as growth engines that can help them create value for their account holders and become attractive options for fintechs."

"Our BaaS options are helping financial institutions and fintechs alike make those connections and develop solutions that are quickly becoming the future of financial services," he concluded.

(Source – Business Wire)

About CSI

CSI, a forward-thinking technology partner, provides fintech, regtech, and cybersecurity solutions worldwide to financial institutions and corporations. The company is known for its expert service and technology advancements, speed-to-market, and solutions for fraud and anti-money laundering, account origination, small-to-medium businesses, treasury management, managed IT services and cybersecurity, real-time payments, open banking, BaaS, and more. It also gives businesses and financial institutions all over the country access to flexible technology that speeds up growth and success.

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