CSI completes 15 virtual core conversions in COVID-19 environment
Virtual projects deployed for banks ranging up to $1.6 billion in assets during pandemic
PADUCAH, KY (August 20, 2020) — Despite limitations on in-person work and travel due to COVID-19, Computer Services, Inc. (CSI) (OTCQX: CSVI), a provider of end-to-end fintech and regtech solutions, has successfully completed 15 virtual core conversions since the beginning of the pandemic.
Five of the conversions were followed by mergers with existing CSI customer institutions, and included banks up to $1.6 billion in assets. More than 90% of the work was completed in a remote environment.
Several of the banks’ executives cited that—despite not having CSI staff onsite for the core conversion process—their conversions were already underway, and they needed to push ahead with the crucial project.
“We were 18 months into a 20-month process, and we knew we couldn’t delay the roll–out any longer,” said Greg Hayes, president and chief operating officer of Belleville, Penn.-based Kish Bank ($1.048 billion in assets). “CSI was very open with us on how they would use virtual tools to run the conversion, what they were going to do, and when. Then we got to work, and the fundamentals of the conversion went very well.”
Hayes added that he feels the conversion was successful due to the dedication and personalized service from the CSI implementation team, who worked tirelessly to adapt to a challenging situation.
CSI leveraged WebEx and Microsoft Teams to create a live, virtual communications channel with the banks, which kept the conversions on track and helped the banks work through their own challenges brought on by the pandemic, including—in some cases—a remote staff who were themselves forced to pivot from their expectations.
“When the pandemic started, we were so close to the conversion that we had already communicated with our employees what that conversion was going to look like,” said Lance Greunke, president and chief financial officer of Arnold, Mo.-based FortuneBank ($208 million in assets). “Probably our biggest hurdle to overcome was the fact that we had people working from home, such as new accounts and tellers, who never had. We had to set up remote access on their computers and put them in a position to succeed during and after the conversion.”
Greunke added that the teams from both CSI and FortuneBank diligently worked to ensure all parties, including the bank’s customers, were kept informed and that any issues were quickly resolved.
With the ongoing ramifications of the pandemic still uncertain, CSI is prepared to continue core conversions and other services in a remote environment as necessary.
“It is vital that we offer remote-based services to our bank customers due to the unique challenges of COVID-19,” said Steve Powless, CSI’s chairman and CEO. “During this unprecedented time, I’m proud of our team for their commitment to maintaining our customer-focused philosophy and ensuring our new partners have the innovative technology foundation they need for success in this evolving environment.”
About Computer Services, Inc
Computer Services, Inc. (CSI) delivers innovative financial technology and regulatory compliance solutions to financial institutions and corporate customers across the nation. Through a combination of expert service, cutting-edge technology and a customer-first mentality, CSI excels at driving businesses forward in a rapidly changing industry. CSI’s expertise and commitment to authentic partnerships has resulted in the company’s inclusion in such top industry-wide rankings as the FinTech 100, American Banker’s Best Fintechs to Work For and MSPmentor Top 501 Global Managed Service Providers List. CSI’s stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.
