Ryan Davis
Property Management Software

The following is a message from our Chief Executive Officer Ryan Davis on the state of the banking industry following recent events – published March 21st, 2023.

“The past several days I have had the opportunity to speak to many of our bank partners around the country. Their resolve despite the adversity they faced was something I’ve come to expect. Most importantly, their dogged determination to ensure the confidence of our customers was paramount in their minds. I am grateful to each for their partnership and their action during a difficult time.

Through my discussions, I was continually struck by the unique nature of banking in association management. In most cases, the financial position of associations is solid. It is a source of liquidity for financial institutions. CINC Systems and our clients partner with banks on more than 30,000 associations and more than 90% are fully FDIC ensured.

While uncertainty prevailed the last several days, CINC Systems’ unique ability to provide banking as a service through our bank integration and payments platform meant continued business continuity regardless of the outcome. This gave our customers peace of mind – a sense of well being that was confirmed by our banking partners reaching out to client to ensure them their accounts were protected and safe.

While none of our customers have been impacted by the situation, we will continue to monitor events and work with our bank partners to ensure continued continuity and peace of mind for our customers.

As a company founded by a banker who wanted to better serve the community association management industry, we recognize the value of seamless banking to our clients.”

 

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