PointBank Chooses CoreSoft to Replace Legacy Platform

Atlanta, GA - October 2012

VSoft core banking solution provides competitive edge with system flexibility, speed to market, customer insights

VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced that $350 million PointBank selected CoreSoftTM to replace its processing platform.

Pilot Point, TX -based PointBank had been in the market for years looking for a “next generation” core system that would provide more flexibility, advanced features and leading-edge technology. For well over a century, the locally-owned and community-focused PointBank has made delivering unparalleled service to the Denton area residents it serves a top priority.

The opportunity CoreSoft provides to improve customer service, especially in terms of speed to market with new products and services, attracted the bank and set it apart from other systems it had seen. After nearly three years of carefully evaluating several available core platforms, the bank selected VSoft because of its technology advantages and long-term partnership opportunity. PointBank’s implementation will include a complete online banking product as part of the strategic partnership with VSoft.

“We recognized the need to replace our current platform years ago, but weren’t able to justify the financial and time commitment for a replacement that was not a significant advancement over our current system. CoreSoft was what we’d been looking for – a browser-based system that offered us tremendous flexibility and multi-channel integration,” said Ray David, CEO of PointBank. “We are excited to work with VSoft for our new core platform, and believe that the partnership will serve us well into the future.”

“PointBank is a growing community bank that is as dedicated to their customers and community today as they were when they started over a century ago. The bank is a wonderful addition to the growing VSoft family and a perfect fit for CoreSoft,” said Murthy Veeraghanta, chairman and CEO, VSoft Corporation. “The platform is designed for community-focused financial institutions, providing an assortment of consumer and commercial solutions and relationship management tools. The platform will allow the bank to meet their immediate goals for their nine branches while also providing them with the needed flexibility and scalability as they continue to grow.”

CoreSoft can be implemented as an in-house solution, giving any financial institution the freedom to maintain and configure hardware preferences, or as an outsourced model, providing significant capital cost savings at VSoft’s data center.

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