Financial software and technology provider CSI, Paducah, Ky., acquired Qolo, a fintech provider offering treasury solutions and payments infrastructure. .According to CSI, the acquisition will enable it to provide community banks with necessary commercial banking infrastructure through a real-time account ledger, multi-rail payment orchestration and improved card capabilities. Qolo provides services to fintech and business-to-business payments providers including multi-rail money movement, card issuing, virtual account management and embedded ledgering. “Businesses in their communities also need sophisticated banking capabilities that simplify and fit more naturally into their day-to-day financial operations,” said CSI President and CEO Nancy Langer. “With Qolo, CSI is helping community banks bring those capabilities to market in ways that help them grow commercial relationships and become more central to how businesses operate.“At the same time, it expands our ability to support fintechs and B2B payments providers as demand grows for financial services embedded directly into everyday business workflows,” Langer added. D.A. Davidson & Co. was strategic and financial advisor to Qolo, while Cooley LLP was legal counsel to the fintech.
