Core Banking, Fintech

DCI Onboards GoDeposits for BaaS Bank

DCI Onboards GoDeposits for BaaS Bank

For 60 years, DCI, the privately-owned developer of core processing, digital banking, and Fintech processing solutions, has dedicated itself to the aggressive pursuit of the future. Through new technology releases, innovations, updates, and vendor integration, DCI continues to deliver the products and services which prove financially advantageous to BaaS banks and traditional processing institutions alike. The market onboarding of GoDeposits, a shining star for DCI banks, is further proof of this commitment.

By successfully eliminating the need for middleware, GoDeposits eradicates the need for Fintechs and financial institutions to work around the core processor. Today, DCI's partners are empowered to track transactions through DCI, ruling out the once-essential demand for third-party involvement. No friction in the 90-second application, 100% compliance, all KYC, options for funding, and multi-branding—all through one instance of core and no middleware.

This level of cost savings for Fintechs and income opportunities for banks is simply unprecedented. While most have only theorized about such a triumph, DCI got to work in the market, actualizing this vision. Through tried-and-true products and services, experienced staff, and a financially sound company, DCI has once again moved the needle for community banks seeking a forward-looking, customer-driven partner.

DCI's President and CEO Sarah Fankhauser shares her excitement for this breakthrough, saying, "I couldn't be prouder of DCI and of our employees' ability to work together, continuously striving for excellence in the marketplace. DCI has been around for 60 years, but we have never stood still. As a community bank processor, we're fighting every day to save community banks and offer them the products and services necessary to compete with the big banks."

Unlike its competitors, DCI shares no interest in reinventing old products, infusing VC money, or taking a product off the block to regroup, all while advertising something absent from the market itself. Instead, DCI's focus remains directed toward action, innovation, and ahead-of-the-curve achievement intended to best serve its customers.

"There is no group of developers moving at warp speed like the DCI development team," says Tanna Faulkner, Senior Vice President of Digital Channels and Sales. "We are not getting to the future in banking, DCI is there. Now, watch us grow."

About DCI

DCI is the developer of the award-winning iCore360® core banking software, plus iCoreGO® digital banking and fintech processing solutions for community financial institutions nationwide, including those using other core platforms. DCI is privately owned by a group of bank clients, with several serving as board members and user group leaders. DCI also provides private ATM network/card management, FrontLine® teller software, custom analysis, risk/vendor management, and more. For additional information about DCI, visit www.datacenterinc.com or contact info@datacenterinc.com.

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Core Banking

MidFirst Bank Extends Western Expansion with Entrance into Nevada Market

MidFirst Bank | January 08, 2024

MidFirst Bank, the largest privately held bank in the nation, recently announced its expansion into the Southern Nevada market. This effort is led by Michael Pizzi, who will serve as Senior Vice President and Nevada Market Executive, and a team of bankers from Bank of Nevada who have extensive area expertise, deep regional relationships and a proven track record of delivering exceptional support to their customers and the communities they serve. This expansion extends MidFirst’s growth in the western United States, building upon the Bank’s recently announced entrance into the new Southern California markets of Santa Barbara, San Diego and South Bay. “We are pleased to continue executing MidFirst’s growth strategy with our entrance into the Southern Nevada market,” said Jeff Records, Chairman and CEO of MidFirst Bank. “Michael and his team have a strong foundation in Nevada and a reputation for excellence, and we’re confident they are the best team to develop our new market presence. Las Vegas has experienced tremendous growth over the last decade, and MidFirst is ideally positioned to support this thriving community, providing robust banking service offerings and leading customer service.” “We look forward to bringing MidFirst Bank to Southern Nevada and growing our presence in the region,” said Michael Pizzi, Senior Vice President and Nevada Market Executive of MidFirst Bank. “We have a solid team of experienced bankers in place to lead our market development, and together we will deliver a unique brand of banking to this community with an emphasis on personal relationships, first class customer service, expert financial guidance, and community support. Over the next year, we will focus on expanding our team, so we can best serve the community with a comprehensive suite of banking products and services to include private banking, mortgage, SBA, and treasury management services.” Michael joins MidFirst Bank as Senior Vice President and Nevada Market Executive. His career spans 25 years with a focus on business banking and middle-market companies. He most recently served as Executive Vice President and Managing Director of Commercial Banking at Bank of Nevada and prior to that served in various management positions at U.S. Bank for over 14 years. His clients are participants in a variety of industries, including medical, law, manufacturing, wholesale, distribution, and commercial real estate. Michael is an active member of the community and serves as a member of the Latin Chamber of Commerce. He is a past board member of both Junior Achievement of Southern Nevada and the Discovery Children’s Museum. Michael brings with him a team of experienced banking professionals from Bank of Nevada to serve the Southern Nevada Market, which includes Senior Vice President Joyce Smith and Senior Vice President Jeff Miracle. About MidFirst Bank With $36.6 billion in assets, Oklahoma City-based MidFirst Bank is the largest privately owned bank in the nation and provides commercial lending, wealth management, private banking and mortgage servicing nationally. MidFirst Bank has locations in Arizona, California, Colorado, Nevada, Oklahoma, Texas and Utah. MidFirst Bank serves California through 1st Century Bank, a division of MidFirst Bank.

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Fintech, Investments

KSL Capital Partners Announces Promotions, Including Four New Partners

KSL Capital Partners | December 15, 2023

KSL Capital Partners, LLC ("KSL"), a leading investor in travel and leisure businesses, today announced its 2024 promotions, including the addition of four individuals to the firm's partnership. The following individuals have been promoted to Partner effective January 1, 2024. Kirk Adamson Martin Edsinger Kevin Rohnstock Tina Yu "Our people are our single most important asset, and we could not be more pleased to welcome four new Partners who reflect the strength of our firm and global team," said Eric Resnick, Chief Executive Officer and co-founder of KSL. "On behalf of the entire KSL team, I want to congratulate Kirk, Martin, Kevin and Tina on their well-deserved promotions to Partner and thank them for their unique strengths and exceptional leadership, which have been instrumental to KSL's success to date. Each will support our continued growth in the years to come." KSL also announced Michael Acierno and Harris Levinson have been promoted to Principal, effective January 1, 2024. "KSL is committed to building the next generation of private equity leaders and promoting from within our firm, and we are thrilled to see the continued progression of our team," said Peter McDermott, Chief Investment Officer and co-founder of KSL. "Mike and Harris both joined us as associates and are now key leaders in our tactical opportunities and credit fund strategies, and we thank them for their hard work and commitment. We look forward to their continued growth at KSL." Mr. Acierno, who focuses on tactical opportunities, and Mr. Levinson, who focuses on credit investments, are also members of the firm's Investment Committee. About Kirk Adamson Prior to joining KSL in 2017, Kirk was a Principal in Blackstone's Real Estate Debt Strategies team (BREDS) based in London. Prior to Blackstone, Kirk was an Associate in Deutsche Bank's Commercial Real Estate Group from 2010 to 2012. Earlier in his career, Kirk worked as an Investment Banking Analyst at Deutsche Bank, based in both New York and London. Kirk holds a B.S. in Accounting & Business Administration from Washington & Lee University, where he graduated magna cum laude. Kirk focuses on North American investments. About Martin Edsinger Prior to joining KSL in 2017, Martin worked as an Investment Manager with ARLE Capital Partners. Prior to ARLE Capital Partners, Martin worked as an Experienced Associate Consultant with Bain & Company and an Economic Analyst with NERA Economic Consulting. Martin graduated from The Stockholm School of Economics (SSE), where he holds a degree in Accounting and Financial Management and an MSc in Economics and Business. Martin focuses on European investments. About Kevin Rohnstock Kevin serves as the firm's General Counsel. Prior to joining KSL in 2011 as Chief Compliance Officer, Kevin served as Associate General Counsel of Royal Gold, Inc. from 2009 to 2011 and as Senior Corporate Counsel for Newmont Mining Corporation from 2005 to 2009. Kevin began his legal career in 2002 as an Associate in the Corporate and Securities Department of Brownstein Hyatt & Farber, P.C. Kevin is a former member of the Board of Trustees of the Legal Aid Foundation of Colorado. Kevin holds a B.A. from Holy Cross and a J.D. from the University of Denver. About Tina Yu Prior to joining KSL in 2011, Tina was an Investment Banking Analyst at Citigroup in the Real Estate group. Tina was awarded in 2018 The International Hotel Investment Forum (IHIF) and The International Society of Hospitality Consultants (ISHC) Young Leader Award and featured as one of the Influential Women in Hospitality by Hotel Magazine in 2018. Tina graduated magna cum laude from The University of Pennsylvania, where she holds a B.S. in Finance and Real Estate from the Wharton School and a B.A. in International Studies from the College of Arts and Sciences. Tina focuses on European investments. About KSL Capital Partners KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; New York, New York; and London, England. KSL invests across three primary strategies through its equity, credit and tactical opportunities funds. KSL's current portfolio includes some of the premier properties in travel and leisure.

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Investments

Green Home Loans from PrimeLending Finance Energy Efficient Upgrades for Homeowners

PrimeLending | December 07, 2023

National residential mortgage lender PrimeLending, a PlainsCapital Company (PrimeLending), proudly offers Green Home Loans, a range of mortgage solutions for homeowners who want to finance environmentally beneficial upgrades to homes they are purchasing or already own. Energy efficient upgrades not only reduce a home’s carbon footprint, they also can increase property values and save money over time. Energy efficiency is a growing concern for American homeowners according to a 2023 study by Thumbtack1 that found 71% of homeowners said sustainability is absolutely a priority for this year’s home projects, yet nearly one-third (32%) still consider sustainable, energy efficient home upgrades too expensive. “Green Home Loans are a huge win for PrimeLending customers by helping to remove financial obstacles to making energy efficient upgrades,” said Tim Elkins, Chief Production Officer at PrimeLending. “We are committed to offering mortgage solutions that align with our customers' goals, such as saving money, increasing property value, and protecting the planet.” PrimeLending’s Green Home Loans are mortgage solutions that allow borrowers to finance certain green improvements, such as: Energy-efficient windows and doors Solar panels or solar-powered appliances Roof, floor, or wall insulation Energy-saving HVAC systems and appliances PrimeLending’s Green Home Loans include FHA, VA, USDA, conventional and renovation loan options and may offer favorable interest rates, repayment terms, and other benefits for the borrower. Consumers can connect with a PrimeLending home loan expert for more information. About PrimeLending PrimeLending is a national home lender combining personal guidance and local expertise with fast service, more choices and the flexibility to meet homeowners’ unique needs. PrimeLending is focused on empowering its customers to pursue their homeownership goals, whether they’re looking to buy, refinance, renovate or build a home. The PrimeLending team works alongside our customers in all 50 states, helping them make home financing decisions and have a rewarding experience along the way. PrimeLending is a wholly owned subsidiary of PlainsCapital Bank, which in turn is a wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH). More information at www.PrimeLending.com. Equal Housing Lender. All loans subject to credit approval. Rates and fees subject to change.

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Financial Management

Finastra showcases strategies for lending growth and compliance at its User Connect series

Finastra | December 05, 2023

Finastra, a global provider of financial software applications and marketplaces, brought together leaders from community banks and credit unions across the United States to discuss innovation in lending technology, operational and strategic initiatives, and trends in mortgage and retail lending. The series, open to current Finastra lending customers, was hosted in Chicago, Orlando, Dallas, and Scottsdale from September through mid-November. With presentations from Lending business unit product and compliance experts, various financial institutions, and industry partners, User Connect explores how financial institutions can maximize their fintech solutions, offering strategies for achieving increased growth, productivity, and compliance readiness. User Connect is a unique opportunity to come together with customers and ecosystem partners to share ideas and best practices. Insights from the event are invaluable, and we look forward to conversations like this throughout the year so that we can enable more seamless customer journeys and more productive time to revenue for lending teams across the US. Mitch Lucas, head of retail lending at Finastra Throughout the series, several significant takeaways were highlighted: Optimization of tech stack is key: To generate leads more quickly and easily, nurture these leads, and increase chances to convert them to being a customer, a modern end-to-end tech stack is crucial. If a borrower encounters any technical obstacles from application through the onboarding process, the risk of losing the lead to a competitor increases significantly. Automation and streamlined processes address operational challenges: To process loans quickly and underwrite more efficiently, leveraging integrated services, embracing workflow automation, and utilizing document management for a paperless loan file eliminates many operational challenges. Systems that migrate borrower information from the point-of-sale to the loan origination system automatically reduce human error, decrease incidences of regulatory compliance issues, and speeds up prequalification, approvals, and processing times. Research from Finastra and East & Partners supports this takeaway, noting that lending process automation remains a major area for improvement, with significant room for growth in approvals, closing, origination, and servicing. 11% of respondents said they utilize automated approvals, while just 10% offer automated loan closing processes. Even fewer respondents have succeeded with origination and servicing automation, at 7% and 6% respectively. Importance of readiness for increased loan applications: According to the Mortgage Bankers Association (MBA), the mortgage origination market is expected to improve by 19% to $1.95T in 2024, a rebound after the estimated 30% drop from 2022 to 2023 and 50% fall from 2021 to 2022. While volume has significantly slowed, lenders must be ready for an uptick in applications, so they do not lose leads to competitors. Financial institutions can prepare by investing in scalable technologies, setting up parameters for automatic prequalification, focusing on personalized experiences, and building self-service portals for document management. Section 1071 is looming, and financial institutions need to be ready: Although Section 1071 of the Dodd-Frank Act is currently wrapped up in ongoing litigation, borrowers and compliance experts agree preparation is important. Users throughout the series were polled and noted that banks and credit unions are paying close attention in order to train staff and align processes. Attendees agreed that since commercial lending practices are often challenging to implement, preparing early is critical should the litigation fail. Supporting younger generations on their homebuying journey: According to a presentation from David Lykken, chief transformational officer at Transformational Mortgage Solutions, the typical American dream of home ownership has not gone away, but younger buyers are struggling to break into the market, noting that people aged 28-38 have only a 28.87% rate of home ownership. When rates decrease, an increase in this number is expected, but planning is important. Brian Bone, president and CEO at American Partners Federal Credit Union stated during a panel discussion, "My kids are very concerned about their ability to buy a home. We as an industry need to do everything we can to help them, whether that means credit coaching, down payment assistance, or other programs. This also includes ensuring we offer the best of both worlds – the human touch of financial services with a technology stack suitable for their needs." Brian Bone added, "The User Connect series in Orlando was a valuable experience for me and my credit union. I learned a lot from Finastra's experts and partners. I also appreciated the opportunity to network with other financial institutions and share best practices. Finastra's User Connect series is a great event for anyone who wants to stay ahead of the curve in the lending industry." About Finastra Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning software solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by more than 8,000 institutions, including 45 of the world's top 50 banks. For more information, visit finastra.com

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