There is no such thing as “one size fits all” when it comes to technology modernization and roadmap planning for Community Financial Institutions (CFIs). This is where Vitex comes in. The goal of our industry experts starts with understanding your business strategy by:
- Utilizing data to validate the initiatives.
- Providing assistance in selecting the technology partner (not just the vendor) that will handle your must-have requirements prior to looking at the “bells and whistles.”
- Selection of a partner using, what we call, ruthless assessment. With over 25-years of experience dealing with various vendor contracts, your specific business goals will be at the forefront of this process to ensure the protection of your business needs.
Banking as a Service (BaaS)
At Vitex, we understand the challenges Community Financial Institutions are facing because of the competitive and regulatory environment, as well as rapid consolidation happening in the industry. Growth is plateaued for many such CFIs due to geographical boundaries. At Vitex, we believe that many community financial institutions should look at changing the definition of the ‘Community’ in the community banking. It’s time to change the Community banking to Niche Banking.
Fintech partnership offers CFIs to leverage the charter they have as well as infrastructure, expertise and understanding of the regulation landscape. Fintech partnership opportunities can bring substantial asset growth at a fraction of cost and creating many cross sell opportunities for the future.
At Vitex, we will help you create roadmap for the success with Fintech partnership. We will help you with
- Niche banking
- Technology Vendor selection
- Fintech partner selection