UFS

About UFS

UFS, LLC operates as a specialized technology services provider, exclusively catering to the community banking sector in the United States. The firm was established in 1991, originally co-founded by Bank First alongside two other community banks with the objective of creating a shared technology infrastructure to effectively compete with larger national financial institutions. This cooperative origin is central to the company's operating philosophy, which emphasizes partnership and solutions purpose-built for the regulatory and competitive environment of community banks. In August 2023, the company transitioned from its bank-owned structure when an investment firm specializing in technology services acquired a 100% stake, providing additional capital and resources for growth.

The company's business model is centered on delivering a comprehensive suite of technology solutions and services through a fixed-rate subscription model. This portfolio includes core data processing, digital banking platforms, managed IT services, cybersecurity, private cloud hosting, and IT regulatory compliance. UFS positions itself as a 'bank technology outfitter,' aiming to manage the complexities of technology, allowing client banks to concentrate on their primary business of banking. A key aspect of their service is the high-touch support model, which is heavily staffed by former bankers who possess direct experience in the industry. This approach is designed to ensure that solutions are not only technologically sound but also operationally relevant. The company serves a client base ranging from de novo banks to institutions with assets up to $10 billion.

UFS has expanded its service capabilities and market reach through strategic acquisitions. In April 2024, it acquired vIntegrators, a provider of hardware and backroom solutions for financial institutions. This was followed by the acquisition of Safe Systems in August 2024, a firm specializing in IT, compliance, and security services for community banks and credit unions. A significant operational achievement was the successful migration and implementation of its Empowered Core banking technology platform for Bank First, a $4.2 billion asset bank, in June 2024, a project that enhances the bank's operational flexibility and ability to integrate with fintech solutions. The company is led by CEO Mike Tenpas and President Eric Jones.