CIT Wins 2022 FinTech Breakthrough Award for Community Association Banking Payment Platform

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CIT, a division of First Citizens Bank

Apr 27, 2022, 10:00 ET

NEW YORK, April 27, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced its Community Association Banking group has been selected as winner of the "Best B2B Payments Platform" award for C-PropertyPay in the sixth annual FinTech Breakthrough Awards program. The recognition was awarded by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market today.

C-PropertyPay is a simple and secure payment system that enables residents and association members pay their dues, rent and other shared services fees online or via a mobile app. It is part of CIT's C-Suite Digital Solutions – a portfolio of easy-to-use, agile tech products for payment processing, customer information, data management and more.

"We are thrilled by this recognition from FinTech Breakthrough for C-PropertyPay, which creates efficiencies and streamlines multiple payment systems," said Alan DeTata, president of Community Association Banking. "With products and tools like C-PropertyPay, the Community Association Banking team is well positioned to continue advancing its innovative suite of digital solutions to meet the unique needs of community association managers and their residents."

The C-PropertyPay solution integrates with accounting software through APIs, complies with payment and industry regulations, enables intuitive online and mobile payments and removes the burden of storing sensitive data -- all while saving time and reducing credit risk. A new amenities feature in C-PropertyPay continues to transform how association members and residents manage payments. It enables residents and homeowners to pay for additional items such as pool keys, access cards and more in one easy system.

"C-PropertyPay provides residents with a more comprehensive payment system and empowers community association management companies to achieve their business goals," said James Johnson, Managing Director, FinTech Breakthrough. "That makes it our choice for 'Best B2B Payments Platform' for 2022."

The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2022 FinTech Breakthrough Award program attracted more than 3,950 nominations from across the globe.

CIT's Community Association Banking business is a leader in association banking services, including certificates of deposit, money market accounts, and a variety of digital payments solutions, supported by the expertise of CIT's Treasury and Payment Services business.

About CIT
CIT is a division of First Citizens Bank, the largest family-controlled bank in the United States, continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. Parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $100 billion in assets. The company's commercial banking segment brings a wide array of best-in-class lending, leasing and banking services to middle-market companies and small businesses from coast to coast. First Citizens also operates a nationwide direct bank and a network of more than 600 branches in 22 states, many in high-growth markets. Industry specialists bring a depth of expertise that helps businesses and individuals meet their specific goals at every stage of their financial journey. Discover more at cit.com/firstcitizens.

About FinTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.

MEDIA RELATIONS:
Donna Choi
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SOURCE CIT, a division of First Citizens Bank