PADUCAH, Ky. — End-to-end financial software and technology provider CSI has acquired Velocity Solutions, which offers financial institutions best-in-class account and deposit acquisition, customer engagement and retention solutions.
Founded in 1995 and servicing the transaction accounts of over 30 million consumers and business owners, Velocity Solutions is a leading provider of technology that drives revenue, service and compliance for community banks and credit unions.
Through the Velocity Intelligent Platform, the company’s analytics support banks and credit unions in managing risk while driving revenue, account holder engagement and non-interest income as well as intelligent software for consumer overdraft management.
“Our customers rely on us to provide advanced tools and software that drive revenue, efficiency and cost savings,” CSI President/CEO and president David Culbertson said. “Velocity’s data-driven approach to deposit management and its intelligent overdraft decisioning engine are each designed to deepen relationships with account holders while minimizing risk exposure for financial institutions. Integrating Velocity’s advanced solutions into our existing financial services suite is CSI’s latest commitment to creating new paths to growth for financial institutions throughout the country.”
Velocity’s deposit growth engine helps institutions create a complete picture of the account holder’s experience, using data analytics and segmentation to drive engagement and sustainable revenue. The company’s dynamic and intelligent overdraft management solution enables bankers to establish controls according to account behavior and access a real-time dashboard that monitors the health of their overdraft program.
The Velocity transaction complements CSI’s acquisition of Hawthorn River in December 2023, further enhancing CSI’s product offerings to support financial institutions’ most significant sources of revenue.
For more information on CSI, visit csiweb.com.
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