CSI Works To Advance Adoption Of Real-Time Payments Through FedNow Pilot Participation
PADUCAH, Ky., June 1, 2021 – Computer Services, Inc. (CSI) (OTCQX: CSVI), a provider of end-to-end fintech and regtech solutions, is participating in the FedNow Pilot Program to advance instant payments in the U.S. The program is designed to foster industry partnerships in development of the Federal Reserve’s new real-time payments service.
As part of the FedNow Pilot Program, CSI will support development, testing and adoption of the FedNow Service. Prior to joining the pilot program, CSI participated in the Fed International Organization for Standardization (ISO) 20022 working group, a precursor to the pilot program.
“CSI develops innovative technology solutions to provide our customers with the tools needed to create a seamless payment experience,” said David Culbertson, CSI president and COO. “Through CSI’s participation in the FedNow Pilot Program, we will offer our expertise in digital payments to influence and shape the FedNow Service, so it provides the greatest benefit possible to community financial institutions and consumers. And our bank customers will be among the first to process real-time payments using the new platform.”
CSI’s digital payment solutions empower financial institutions with industry-leading tools to deliver fast, simple payment options to customers through the company’s digital banking platforms. The integrated payment solutions provide convenient, secure money movement for both consumer and business accounts. Additionally, CSI’s industry-leading peer-to-peer (P2P) solution delivers the latest payments technology, allowing funds to clear in a matter of seconds.
As a member of the pilot program, CSI will play an instrumental part in shaping the service’s features and functionality to ensure industry readiness. To learn more about the FedNow Pilot Program and the FedNow Service, visit FedNow.org.
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 Places to Work in Fintech 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.