Louis Hernandez Jr. of Black Dragon Capital, a growth-oriented private equity fund, congratulates ASI Group, one of its portfolio companies and a leading cloud based solutions provider for the financial services industry, for going live with its first client in the United States.
"ASI Group is on the cusp of a huge expansion into the United States, and it's exciting to watch the company grow under the leadership and tenacity of CEO Hernando Torres. The incredibly advanced cloud-based technology, open API approach and outstanding service, along with the leadership his team provides, make ASI Group the next big thing in the U.S. fintech market," said Hernandez, founder, managing director and CEO at Black Dragon Capital and an ASI Group board member.
Coastal Outsourced Solutions is the first financial institution in the United States to use ASI Group's global digital banking technology platform to create its own cloud platform called Coastal Collections Solutions. ASI Group's leading-edge collections software, which deploys cloud elasticity, is designed to reduce client operating costs while improving loan asset quality. As a subsidiary of First Citizens' Federal Credit Union with headquarters in Fairhaven, Mass., Coastal Outsourced Solutions has more than a half-billion dollars in assets.
"This is a historical moment for ASI Group as it marks the culmination of our strategy to expand into the U.S. market with the most advanced technology deployed in the world in order to provide financial institutions the most flexible and adaptable tools that have been lacking for decades," said Hernando Torres, president and CEO at ASI Group.