Fintech plugs community FIs into the cryptocurrency/digital asset era
A hybrid crypto storage/wallet solution allows FIs to use existing core processing systems to vault/process Bitcoin (BTC), Ripple (XRP), Litecoin (LTC) and Ethereum (ETH)
ROCKY HILL, CT (August 27, 2019) — DaLand CUSO, a fintech and consulting firm focused on the sustainable relevance of community financial instiutions, today announced the availability of the Coin2Core Extended Ecosystem Wallet™ (C2C), a solution that allows community financial institutions to use their existing core platform to vault/process cryptocurrency and digital assets for their consumers. The core-extended solution uses the open capabilities of the financial institution’s core processing platform to provide a secure, local, valuable service to consumers, allowing them to store their cryptocurrency and digital assets with a trusted, local partner.
“Money is morphing,” said COO Jon Ungerland, “and we see a substantial opportunity for local financial institutions to add value, security, confidence, and convenience to consumers/communities by locally storing/processing emerging digital currencies and assets.” Envisioning eventualities for community financial instiutions to strengthen their posltion as transaction/economic epicenters in their local economies, Ungerland continued, “Each month the global economy sees more users, total capital, and transactions in these portfolios and networks outside traditional banking, and we’ve developed an elegant, easy, hybrid solution to allow local financial instiuttions to use their existing core technologies to expand services while improving security and consumer experience around these new types of money.”
According to DaLand CEO Jeff Levesque, this latest innovation is just another example of the way DaLand, formed as a fintech to benefit the relevance of local financial institutions, is leading community FIs towards synthesizing business strategy and technology tactics. “Global trends are indisputable,” said Levesque, “and we don’t see any data or dynamics to suggest additional deposit dollars and transactions will not evaporate from the traditional, dollar-based economy and banking ecosystem.” DaLand’s goal, per Levesque, is to “develop and deploy solutions which help prevent the further erosion and extinction community financial institutions as essential collaborative partners in local economies,” he concluded, “it’s becoming increasingly difficult to imagine a world where community FIs remain relevant in the face of all these digital asset and cryptocurrency innovations, without an efficient, elegantly simple, and cost effective path to use their existing technologies to advance into service and support of these new assets and currencies.”
“It’s the type of truly exciting innovation and technical challenge we fintech nerds live for,” said DaLand’s Director of Development Josh Pilachowski. “Via our exclusive relationship with NetQash LLC, and our ability to use their proporietary secure mobile wallet and secure transaction image technology, our team was able to embark on turning some really innovative ideas into relevance-generating realities.. We’re looking forward to introducing the industry to some really cool ways to safely and sustainabily store and process Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and Ripple (XRP) as part of the local mobile wallet and in an elegant synthesis with other core banking operations.”
This latest innovation is part of DaLand CUSO’s “Community Ecosphere” experience set, which provides a number of digital portals for financial institutions to extend their core banking operations beyond the teller line and out into the community, adding valuable, convenient, in-demand services to consumers and other organizations in communities surrounding local financial institutions.
About DaLand CUSO
Based in Rocky Hill, Conn., DaLand CUSO is a next-generation CUSO designed to benefit community financial institutions by functioning as their fintech experts and solutions consultants. With extensive experience in every level of financial institution operations and management, the DaLand team is comprised of three groups: Strategic Project Services (SPS), which draws upon the CUSO’s vast technical and professional experience to manage complex projects, conversions, and mergers; Vendor Strategy Services (VSS), which assists clients in strategically mapping out their technology partners and associated costs to create a sustainable and synthesized long-term IT and business strategy map; and the CODE division, which develops core-optimized digital experiences and extends the capabilities of relevant cores for DaLand CUSO clients that employ such cores. Additional information is available at www.dalandCUSO.com.