Financial technology provider Computer Services, Inc (CSI) is rebuilding its tech stack in partnership with cloud computing giant Microsoft Azure.
The partnership is designed to expand CSI’s cloud technology platform and improve its ability to support banking clients such as Iowa’s Marion County Bank and Pennsylvania’s InFirst Bank.
The switch to Microsoft Azure involves transferring from traditional data centers to the “public cloud”. This will reduce reliance on “on-premises mainframes”, CSI said, while also improving the company’s responsiveness, reliability, and ability to scale up to support more clients.
It will incorporate artificial intelligence technology, used to aggregate customer data and provide analysis, as well as improving user experiences, security, and compliance.
Vijay Reddy, CSI’s chief technology officer, highlighted “the shift toward digital adoption and experiences has forced financial institutions to respond with new solutions across digital banking, payments, and other critical areas that meet heightened demand for access and flexibility.”
More financial service companies, particularly banks, have been transitioning to cloud-based technology for their operational platforms to improve security, customer access, and scalability, among other things.
A study published by Capco and Wipro FullStride Cloud Services in February last year found 62% of financial services leaders believed the deployment of cloud technologies would increase future revenues, while 52% believed it would improve future profitability.
The Microsoft Azure collaboration would enable CSI to “provide clients with leading-edge technologies to help them more rapidly respond to unique customer needs”, Reddy added.
Several of CSI’s clients have already made the transition to the new technology platform. Brent Gaulke, Marion County Bank’s vice president of IT and operations officer, said its switch to CSI Cloud Services on the Microsoft Azure platform “provides peace of mind” and “a strong combination of services that allows us to better serve our account holders”.
CSI’s CEO and president David Culbertson said the partnership with Microsoft fitted with the company’s strategy to create products and solutions that could “deliver value to our clients and their customers faster, easier and at greater scale”.