Per the official announcement, the transaction follows a commercial partnership between the two organisations to leverage Hawthorn River’s digital loan origination solution within CSI's software platform and strengthen the companies’ existing technical integration.
It also adds critical functionality to CSI’s comprehensive technology platform, which includes core processing, digital banking, payments, fraud and compliance, and cybersecurity. The integration is set to enhance CSI customers’ loan origination capabilities across all loan types for both commercial and consumer accounts. The acquisition also enables CSI to deliver single-point loan origination solutions to non-CSI community banks through channel partnerships and API integrations with other technology and service providers.
Officials from CSI stated that lending is one of the most critical lines of revenue for community banks, yet it also is the most plagued by inefficiency and outdated technology. CSI works not just to advocate for community banks, but to deliver technologies that solve their most important problems and empower them to compete and scale. Therefore, the acquisition of Hawthorn River is the latest step in addressing those needs.
The announcement further states that the acquisition is the latest demonstration of CSI’s commitment to delivering modern solutions to community and regional banks seeking ways to acquire, engage, and retain account holders across a range of financial services.
About CSI
As a software provider, Computer Services (CSI) seeks to help community and regional banks, as well as organisations worldwide, solve their customers’ needs through open and agile technologies. In addition to its nearly 60 years of personalised service, CSI aims to shape the future of banking by swiftly deploying advanced solutions that help its customers rival their competition.
About Hawthorn River
Hawthorn River is community banking software designed by community bankers. The company's mission is to position community banks to remain competitive and independent in a rapidly consolidating industry.
From streamlining the end-to-end lending process to automating specific steps along the way, Hawthorn River seeks to help community banks increase productivity, reduce regulatory risk, and elevate the borrower experience.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
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