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CSI partners with Bankers Helping Bankers to support community banks

Wednesday 27 July 2022 12:56 CET | News

Computer Services, Inc. (CSI), a US-based provider of end-to-end fintech and regtech solutions, has partnered with Bankers Helping Bankers to help the organisation’s mission of empowering community banks.
CSI partners with Bankers Helping Bankers

Established by FedFis and the Independent Bankers Association of Texas (IBAT) in late 2021, Bankers Helping Bankers connects bankers nationwide so that they can identify solutions that drive earnings and diversify sources of income. Its mission is to elevate and unite community banks across the US to compete with large financial institutions.

In six short months, Bankers Helping Bankers has built a network and most of the nation’s state associations have joined the movement. CSI works with Bankers Helping Bankers to build digital banking strategies that community bankers need to adapt and compete.

FedFis provides financial institutions fintech data analytics and a strategy system that tracks financial, merger and acquisition, and Vendor data on every bank and credit union in the US. FedFis aims to help community bankers understand which products and services best pair with their existing technology will drive the strategic outcomes for which they strive.

The importance of community banks

Community banks tend to have less than USD 10 billion in assets, take deposits, and hold a traditional portfolio of mortgages and business loans. Of the 5,000 lenders in the federal programme that insures deposits against bank runs, all but 500 are community banks.

Community banks have a critical role in keeping their local economies growing by lending to creditworthy borrowers in their regions. They often respond with greater agility to lending requests than their national competitors because of their knowledge of the needs of their customers and their close ties to the communities they serve. Such lending helps foster the economy by allowing businesses to buy new equipment, add workers, or sign contracts for increased trade or services.

A study by Alkami shows that regional and community financial institutions (FIs) should focus on their digital experience to snag younger generations not yet sold on a bank. The study included 1,500 US participants who have a bank account and use digital banking and was weighted according to the 2020 US Census for age, region, gender, and ethnicity.


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Keywords: partnership, banks, fintech, regtech, financial institutions
Categories: Banking & Fintech
Companies: Bankers Helping Bankers, CSI
Countries: United States
This article is part of category

Banking & Fintech

Bankers Helping Bankers

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CSI

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