CSI

Core Functionality

CSI states that it delivers fully integrated, end-to-end cloud-enabled core processing solutions that feature API-driven capabilities through CSIBridge. With an open API marketplace, CSIBridge lets vendors write real-time integration to core data, so community banks can leverage their data and realize their unique business strategies. CSI’s core platforms empower financial institutions to deliver a consistent banking experience, regardless of channel.

General ledger

CSI’s General Ledger (GL) Transaction Manager lets banks monitor, control and analyze all GL functions to fulfill management requirements, create efficiencies and drive revenue. In addition, its Financial Management System provides a comprehensive source to control the quality of GL processing and senior management reporting.

Teller

CSI Teller creates employee productivity and efficiency by giving tellers access to menu-driven financial transactions and shortcut keys that simplify routine functions. CSI delivers Teller as a service, eliminating the need for on-site servers. CSI Teller Capture combines image processing with Teller functionality to scan and balance transactions.

Lending

CSI’s Lending product allows banks the flexibility to process commercial, mortgage, consumer and revolving credit loans through a single system. Its feature-rich offerings include Loan Product Manager to improve onboarding efficiency, as well as Loan Analytics, which enables cost-effective ways to control portfolios and incorporates risk management and collateral valuation systems and relationship pricing.

Deposits

CSI’s Account Opening solution streamlines digital onboarding by automating the process and creating time efficiencies, productivity and customer satisfaction. In addition, CSI’s Positive Pay verifies the authenticity of checks to decrease fraud and maintain compliance; Recon Service automatically reconciles activity for accounts including cashier’s checks, CD interest checks and money orders; and Remote Deposit Capture lets merchant customers scan checks directly into their accounts. CSI’s online delivery portal allows customers to open checking, savings, CDs and health savings accounts.

Digital and Ancillary

CSI Digital Banking utilizes a single-code base that adjusts to the customer’s type of device, screen size and operating system, delivering an optimized experience. Its digital banking suite provides secure, fully integrated tools through one administration site, enabling banks to manage consumer and business user access from a single sign-on.

Payment Card Platform / EFT Services

CSI’s Card Services are fully core-integrated and deliver EMV technology, fraud protection, card instant issue, Card On/Off and multiple report access. As a debit card processor, CSI also completes all necessary agreements with Mastercard, Visa and digital wallet providers.

Firm's Response to Core Committee's Key Areas of Focus

Bank Access to Customer Data

CSI states that they understand and completely agree that they are a steward of customer data. As such, its job is to protect, process and provide access. It does this in a variety of ways:

Through its integrated banking solution that allows the bank and their customer to see the same thing, in real time, at any time.
Through its CSIIQ solution. This data mining solution offers access to all the bank’s information through defined or ad hoc reports. IQ was developed, in partnership with SAP, to offer quick access to information. In simple terms, every single field that is available on the core, in digital banking, and through EFT are exposed in IQ so that the bank can create reports and dashboards with data across all platforms.
CSI has been using APIs internally for some time. In April 2018, an open API portal (csibridge.com) was publicly launched and made available to a broader fintech marketplace.
CSI is a member of the Financial Data Exchange (FDX), an organization committed to setting the standard for secure financial data sharing.
CSI also belongs to AFINIS (started by NACHA to advance API standardization across the financial services ecosystem.) AFINIS also includes work with the Interactive Financial eXchange Forum (IFX).

Approach to, and Status of, Open APIs

Regarding data sharing, CSI states that it believes:

The protection of data is its most critical responsibility.
Requested data that is relevant to the specific request is all that should be shared.
Current processes that use screen scraping to collect information expose more data than may be necessary and put the consumer’s privacy more at risk.
APIs offer a more secure alternative to providing access to the relevant information and support the need to expand their use within our industry.

Fair and Transparent Contract Provisions

(Including Exclusivity, Coterminous Contracts, Deconversion Fees, Limitation of Liability, SLAs and Early Termination Penalties)

CSI states the following:

Contract does not contain exclusivity language.
Core-related contracts are coterminous. Generally, managed services or compliance services are not coterminous because they are shorter-term contracts. However, CSI will accommodate if requested by the bank.
Deconversion fees are noted in the contract at the time the agreement is executed and are tied to the effort to deliver the deconversion files.
CSI frequently adds language to extend liability obligations in the event of customer impact and/or negligence by CSI.
SLAs, with defined penalties for non-performance, and the ability to exit the contract with no penalty for repeated offenses, are standard language in CSI core agreements.
CSI does not consider liquidated damages and deconversion fees as profit centers. CSI works with the customer to define the liquidated damages that represent the anticipated lost revenue CSI would experience should the contract be terminated early without cause. In the case of an acquisition, CSI caps the liquidated damages at two years.

Quick Facts
Headquarters Location	Paducah, Kentucky
Website	csiweb.com
Year Established	1965
Ownership Model	Public
Regionally Focused or National	Nationwide
Number of Cores Offered	2
Name of Core Solution	NuPoint and Meridian
Number of US Banks on the Core	416 live, 21 others in various stages of implementation
Functionality	CSI states that it has a full core offering including GL, teller, lending, deposits, digital and card. In addition, it offers ancillary solutions that address the compliance, document management and managed services needs of the community financial institution.
Target Bank Asset Size	Less than $10 Billion
Business Strategy	CSI states their strategy is to continue national expansion efforts by offering a complete technology suite designed for community financial institutions that is supported by its outstanding service model. CSI states they believe in being relentless when it comes to innovation and in being fair with its customers and understands that integrity matters.

Quick Facts

Headquarters Location

Paducah, Kentucky

Website

csiweb.com

Year Established

1965

Ownership Model

Public

Regionally Focused or National

Nationwide

Number of Cores Offered

Name of Core Solution

NuPoint and Meridian

Number of US Banks on the Core

416 live, 21 others in various stages of implementation

Functionality

CSI states that it has a full core offering including GL, teller, lending, deposits, digital and card. In addition, it offers ancillary solutions that address the compliance, document management and managed services needs of the community financial institution.

Target Bank Asset Size

Less than $10 Billion

Business Strategy

CSI states their strategy is to continue national expansion efforts by offering a complete technology suite designed for community financial institutions that is supported by its outstanding service model. CSI states they believe in being relentless when it comes to innovation and in being fair with its customers and understands that integrity matters.

Functionality & Response to Areas of Focus