Cass Information Systems Inc (NASDAQ: CASS)

Cass Information Systems Inc provides payment and information processing services to large manufacturing, distribution and retail enterprises across the United States. The Company’s services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information. Cass also processes and pays facility-related invoices, which include electricity and gas as well as waste and telecommunications expenses. Cass solutions include integrated payments, a B2B payment platform for clients that require an agile fintech partner. Additionally, the Company offers a church management software solution and an on-line platform to provide generosity services for faith-based and non-profit organizations. The Company’s bank subsidiary, Cass Commercial Bank, supports the Company’s payment operations and provides banking services to privately held businesses in the St. Louis metropolitan area and restaurant franchises and faith-based ministries within the United States.

The Company generates revenue through processing payables and payables-related transactions for large corporations in the United States. Revenue is derived from freight invoice rating, payment processing, auditing, and accounting and transportation information services. Additional revenue comes from processing and paying facility-related invoices such as electricity, gas, waste, and telecommunications expenses. Cass also earns revenue from its integrated payments platform, church management software, and generosity services for faith-based and non-profit organizations. The Bank contributes revenue through banking services to its target markets including privately held businesses, restaurant franchises, and faith-based ministries.

The company operates through the following segments: Transportation Information Services, Facilities Expense Management, TouchPoint, and CassPay.

• The Transportation Information Services segment processes freight invoices, provides payment processing, auditing, and generates accounting and transportation information for large manufacturing, distribution and retail enterprises.

• The Facilities Expense Management segment processes and pays facility-related invoices including electricity, gas, waste, and telecommunications expenses for clients across the United States.

• The TouchPoint segment offers a church management software solution and an on-line platform to provide generosity services for faith-based and non-profit organizations.

• The CassPay segment provides integrated payments and a B2B payment platform for clients requiring an agile fintech partner.

Cass Information Systems Inc is one of the largest firms in the transportation bill processing and payment industry in the United States based on total dollars of transportation bills paid and items processed. The Company also ranks among the largest providers of utility information processing and payment services. Cass is unique among its competitors in the facilities expense management space as it is not exclusively affiliated with any one energy service provider, allowing various providers to market its services while adding value through their own auditing, consulting, and technological capabilities. The Company holds a competitive advantage through its ownership of Cass Commercial Bank, enabling it to manage the movement of funds from customers to suppliers via immediate, accurate, controlled, and protected electronic cash management and funds transfer systems, replacing older check processing mechanisms.

The Company serves large manufacturing, distribution and retail enterprises across the United States for its transportation and facilities expense management services. Cass also serves faith-based and non-profit organizations through its TouchPoint division and CassPay operation. The Bank provides services to privately held businesses in the St. Louis metropolitan area, restaurant franchises, and faith-based ministries throughout the United States. The Company’s client base is varied and not dependent on any single customer or group of customers for a significant portion of its business.