The partnership will provide hundreds of community banks and credit unions with interest rate risk modelling services to strengthen confidence in an uncertain banking environment
Kasasa, an award-winning financial technology and marketing provider, announced it is partnering with the Thomas Ho Company Ltd. (THC), a leading financial engineering firm to take a new, proactive approach to balance sheet management with IncomeRisk™. The analytics and insights from THC will enable community financial institutions that work with Kasasa to cohesively link risk and return by identifying key drivers of net interest income (NII) and provide risk assessment analyses.
The recent failure of Silicon Valley Bank (SVB) and Signature Bank (SB), and buyout of First Republic Bank, sparked fear throughout the banking sector. Consumer confidence wavered, and they began demanding transparency, wanting to know that their banks are making prudent decisions and that their money is safe.
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“Consumer confidence is the foundation of the banking industry,” said Gabe Krajicek, CEO of Kasasa. “Thomas Ho’s IncomeRisk platform, which will help fiduciaries better understand the amount of risk they’re assuming to generate income, will help banks tighten up their balance sheets and ultimately help restore trust and confidence in our industry.”
The partnership between Kasasa and THC will help community banks and credit unions understand what is driving their NII and the amount of risk they’re taking to generate this return. THC’s IncomeRisk balance sheet management platform links risk and return into a cohesive management tool that can easily be monitored over time and compared to other institutions. It also links to THC’s Optimization Modelling to help identify value added strategies to maximize risk-adjusted returns.
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“Kasasa’s network of community banks and credit unions combined represent the 4th largest branch banking network in the country,” said Thomas Ho, PhD, founder and CEO of Thomas Ho Company Ltd. “With so much of the industry encapsulated by the Kasasa brand, we want to help maintain the integrity of the banking system and ensure that banks fully understand the risk they’re taking to generate profitability.”
Kasasa partners exclusively with community financial institutions — the only place consumers can find their innovative banking solutions. Kasasa serves hundreds of community financial institutions nationwide, representing over 3 million consumer bank accounts across 3,400+ branches in all 50 states. Since 2003, Kasasa financial institutions have given back nearly $3 billion in rewards to Kasasa account holders.
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