First Fed Bank has tapped fintech Apiture to provide better digital and mobile banking services to its clients. 

Community and regional banks and credit unions recognize that having strong, comprehensive digital capabilities is no longer optional to stay competitive with large banks and fintechs, an Apiture spokesperson told Bank Automation News. 

This year, Apiture has signed at least four financial institutions, including: 

• The $1.9 billion FORUM Credit Union; 

• The $1 billion Freedom Bank; 

• The $700 million Sage Capital Bank; and 

• The $204 million Citizens State Bank. 

“Smaller institutions are known for the personal relationships they’ve built with their customers in the branch environment and are looking for ways to replicate that same connection through digital channels,” the spokesperson said.  

“They’re seeking a modern front end with the same sophistication customers expect from national providers but also digital tools that deepen engagement and deliver the personalized experience that sets them apart.” 

Among community financial institutions, business banking is becoming a clear area of focus, the spokesperson said.  

“Small and mid-sized businesses are the lifeblood of local economies, and community institutions see an opportunity to differentiate themselves by serving those businesses more effectively,” they said. 

The Wilmington, N.C.-based fintech hosts its Apiture Digital Banking Platform on the Amazon Web Services cloud, the spokesperson said, adding that FIs can customize its digital banking offering to meet the needs of its customers. 

Apiture’s AI strategy 

Apiture is developing AI-driven solutions for its FI clients to improve efficiency and provide a more personalized experience to their customers, the spokesperson said. 

“Our platform includes a growing number of AI-driven features, such as an AI assistant that delivers insights into end-users’ spending and transactions,” the spokesperson said. 

The fintech also offers an AI marketing tool that bankers can use to target clients with specific products, the spokesperson added. 

Apiture’s future with CSI 

Digital banking and payments service provider CSI announced Aug. 19 that it will acquire Apiture for an undisclosed amount. 

Apiture’s business banking will significantly strengthen CSI’s business banking capabilities, helping financial institutions offer the tailored, sophisticated services commercial and small business clients need, Nancy Langer, president and CEO of CSI, told BAN. 

“The acquisition allows us to serve our existing customers while enabling us to expand our engagements with larger community banks,” Langer said. “Integrating Apiture into CSI’s platform will create new opportunities for CSI customers to drive engagement, deepen business relationships and capitalize on the high deposit and lending potential they represent.” 

The move comes after CSI’s acquisition by private equity firms Centerbridge Partners, L.P. and Bridgeport Partners for $58 per share; it was delisted from the NYSE in August 2022. 

Centerbridge Partners persisted in pursuing CSI despite initial rejection, “eventually convincing the company to go private with their compelling logic about building an end-to-end fintech and potential market opportunity,” David Culbertson, vice chair of the CSI Board of directors and former CEO, previously told BAN. 

CSI obtained additional funding from PE firm TA Associates in January 2024 to develop new solutions for organic growth and to find niche M&A opportunities, he added. 

“I think probably half of our growth will be organic in nature … and the other half will be through M&A,” Culbertson said. 

CSI has acquired the following companies since 2020 for undisclosed amounts, according to Crunchbase: 

• Data analytics service provider Velocity Solutions in September 2024; and 

• Digital applications and file management service provider Hawthorn River in December 2023. 

The addition of Apiture’s digital banking platform alongside CSI’s recent acquisitions of Hawthorn River and Velocity Solutions will enable the company to power every stage of the accountholder lifecycle, including core banking, digital banking, customer engagement and lending, CSI’s Langer said. 

CSI is actively evaluating new acquisitions, with a goal of targeting at least one asset per year, Langer said. “We also recently brought Michel Jacobs [on Aug 27] on as chief strategy officer to drive our enterprise-level strategy, including M&A.” 

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