2022 Story | Kotapay

KOTAPAY FAST FACTS

ACCREDITED ACH PROFESSIONALS 5 IN BUSINESS FOR 30 years

WE PROCESS FOR MORE THAN

FULL TIME EMPLOYEES 29

$99 BILLION MOVED IN 2022

107,000 COMPANIES, IN ALL 50 STATES JANET

63.4 MILLION TRANSACTIONS PROCESSED IN 2022

We have been a client for over 18 years and consider them to be a trusted and strategic partner to our payroll business. We know that if we need a little extra - all we have to do is contact them and if there is a way to do it - they will work with us to get it done. The extended processing hours also really help us on the West Coast, and we have always been able to find someone willing to help in those “after hours” emergencies. As long as Payroll Solutions is in business, we will use them as our exclusive ACH processing partner.

ABOUT KOTAPAY

Kotapay is an electronic payment solutions provider based in Fargo, North Dakota, offering ACH and credit card processing solutions to companies in all 50 states and Puerto Rico. In April 2018, First International Bank & Trust (FIBT) acquired a local payments processor and rebranded as Kotapay. As a division of FIBT, Kotapay is uniquely situated to provide cutting edge payment solutions to companies while providing the safety, soundness and security that a financial institution brings.

Kotapay has been processing ACH transactions for over 30 years. Our software is a powerful transaction tool used to process over 60 million transactions a year. The first transaction received in 1993 was managed by the same person that oversees the transactions we process today. Years of experience, employee longevity, expertise and knowledge have helped drive our success and made us a trusted partner for thousands of companies.

Back Row: Jim Haug, SVP Director of Kotapay, Chad Schornack, VP Programming & Analytics, Josh Buth, ACH Operations Manager, Todd Richardson, VP National Sales Manager,

Front Row: Addie Nohr, Marketing Coordinator, Cindy Simon, Cash Management Manager, Ember Verkuehlen, Client Support Manager, Leanne Jung, ACH Risk & Compliance Manager

ABOUT FIRST INTERNATIONAL BANK AND TRUST

First International Bank & Trust (FIBT) is a full-service, family-owned community bank serving North Dakota, South Dakota, Minnesota, and Arizona. Founded in 1910 as Farmer’s State Bank in Arnegard, ND, FIBT’s foundation was built on the bond between its employees and customers. Throughout the years, the bank has expanded to four states and continues to make dreams happen for its clients and customers.

PRODUCTS & SERVICES

ACH Processing

Direct Deposit of Payroll

Accounts Receivable

Accounts Payable

Same Day & Next Day Processing

Federal, State and Local Tax Payments

Benefit Payments

Credit Card Processing

Accept payments through software or terminal

Wire Drawdown (Also known as Reverse Wire)

Good funds solution that applies thresholds to activate wire drawdown automatically

Pay Now Payment Portal

Custom-built payment page for your website to accept ACH or credit card payments

KotaConnect Payment Gateway

Use our web-based software to create and manage ACH & credit card transactions

Payroll Cards

Provide a direct deposit solution for unbanked employees

RISK MANAGEMENT

Kotapay understands the financial and reputational risk involved with processing electronic transactions. Through our application process we gather necessary documentation to confirm we know our customers while also complying with regulations. Through the underwriting process, risk tolerances are determined and file parameters are defined. Processors’ files and transactions are reviewed periodically while being monitored in real-time, making payment processing safe and secure for all parties.

Every transaction submitted to Kotapay is scanned through our fraud detection system which identifies potentially fraudulent or unusual transactions. These flagged transactions are then reviewed by our Fraud Analytics Department prior to being sent through the ACH Network.

PROTECTING CUSTOMER DATA

The protection of our customers’ transaction data is strictly enforced through multiple levels of security, internal controls and auditing. Kotapay is PCI Level 1 Compliant, the highest standard achievable according to the Payment Card Industry Data Security Standards (PCIDSS). The strict controls in place for credit card processing are utilized not only for credit card customer data, but also for ACH data and the personal information of our customers.

In addition to the PCI audit, Kotapay is also under the oversight and regulations of a financial institution.

LOOKING TO THE FUTURE

Three simple words are the principle ideals we strive for each day.

COLLABORATE with Customers and Partners INNOVATE with New Solutions AUTOMATE Processes

At Kotapay, we pride ourselves on our ability to develop systems and products to exceed customer expectations. With in-house developers and a vision for the future, the importance of controlling and managing our proprietary system is critical. The ever-changing payments landscape requires a flexible mindset, creative thinking and employee dedication to satisfy payment needs. As a Fintech company and a division of First International Bank & Trust, Kotapay is uniquely positioned within the payment industry and looks toward the future with optimism.

PARTNERSHIP & INTEGRATION

Kotapay partners with leading software companies to provide integrated services and preferred pricing for their customers. Utilization of our Application Programming Interface (API) allows for integration between Kotapay and our software partners.

With this integration, our partners are able to offer an enhanced customer experience by utilizing single sign-on, automated reporting.

Kotapay customers have experienced increased satisfaction by utilizing the seamless integration between Kotapay and their software due to the increased efficiency and ease of use, saving time and money.

M ATE

The Tax & Accounting business of Thomson

Reuters has partnered with Kotapay for many years, and we appreciate how the Kotapay services complement our payroll applications and drive efficiencies for our customers’ banking needs. As a Kotapay partner, we enjoy the integration with our products, aligned values, attention to security and fraud risk, along with outstanding support for our shared customers