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Fintech platform provider expands reach among Illinois community banks to deliver digital account opening and digital lending capabilities.
FRANKLIN, Tenn., September 20, 2023 – Core10, Inc. (Core10), a U.S.-based financial technology company that provides lending and account opening products, as well as software development services is now a Preferred Service Provider (PSP) for the Community BancService Corporation (CBSC). This partnership enables Core10 to bring its digital account opening and lending platform to community banks throughout the Illinois area.
In conjunction with its business services subsidiary, the CBSC, the Community Bankers Association of Illinois (CBAI) is committed to helping local banks remain competitive to benefit their customers and the Illinois communities they serve. CBAI represents 270 Illinois financial institutions and 150 associate members to whom they deliver quality education and recommendations on products and services that address key operational challenges.
“Consumers increasingly expect to open new accounts and complete loan applications online as effortlessly as signing up to use popular e-commerce sites and social media apps. Yet, most community bankers cite concerns around KYC, fraud and the cost of implementing a digital solution. The CBSC Innovation Committee spent a year evaluating community bank-friendly digital services providers and ultimately recommended Core10 as an ideal solution to the board of directors.” said Mike Kelley, president of the CBSC. “Core10’s Accrue solution is built for all community banks regardless of core provider or size of IT department. Offering digital account opening and lending is destined to become table stakes and Core10 can get community banks into the market quickly and affordably.”
Core10 works with CBAI member bank Princeville State Bank (PSB). Leveraging the platform, PSB will be able to improve customer and staff experiences and significantly decrease the effort and time required to support a loan application and/or an account opening by hours or days.
“Our bank needed an efficient customer onboarding process, and Core10’s Accrue platform was the obvious choice to upgrade our account opening and lending experiences and expand our digital capabilities. This platform has tremendous potential to streamline PSB’s processes and improve customer and staff experiences and will scale as we grow. Core10 has also proven themselves to be a true partner of the bank and not just another technology provider,” said Andrew Black, president and CEO of Princeville State Bank.
Core10’s Accrue platform provides CBAI members with a highly configurable and scalable digital account opening and lending solution that supports consumer and commercial transactions. Accrue delivers pre-built integrations to core systems and other critical fintechs, supporting customizable, automated workflows. Core10 also offers subscription and project-based API integration solutions to eliminate backlogs, reduce staffing costs and support business growth opportunities.
“We are thrilled to partner with the CBSC and CBAI as a Preferred Service Provider. We have a shared vision for supporting community banks on their digital transformation journey and look forward to becoming a trusted partner of Illinois community banks for years to come,” said Jeff Hanson, CEO of Core10.
About Princeville State Bank
Princeville State Bank (PSB) is a family-owned, community bank that provides both personal and business banking services. With rich local connections, PSB has been serving the area since 1950 and continues to serve Princeville, Peoria and surrounding communities with their core values of service, commitment and trust.
About Community BancService Corporation (CBSC)
The business services subsidiary of CBAI, CBSC aggregates the clout of CBAI member banks to negotiate lower costs and provide improved access to essential bank products and services. CBSC is governed by a board of 34 community bankers who evaluate and select prospective business partners.
About CBAI
One of the largest state banking associations in the nation, Community Bankers Association of Illinois (CBAI), is a professional trade association representing 270 Illinois commercial banks and thrifts and their 880 Illinois bank branches. Its members have nearly $80 billion in assets and employ approximately 17,000 individuals. CBAI, headquartered in Springfield, was founded in 1974 to exclusively represent and serve the community-banking profession.
About Core10
Core10, founded in 2016, is a U.S.-based provider of lending, account opening, and BaaS products, as well as software development services. Core10 is the trusted, easy button partner for banking digital transformation and innovation. The company’s Accrue platform provides an omnichannel digital lending and deposit account opening solution to help elevate and streamline banking operations. Its Mesh middleware layer gives banks a flexible, modern infrastructure to connect their entire technology ecosystem with their core. Supporting their product lines, Core10's professional services team has years of experience building APIs and core connectivity as well as custom software product development.
