Cass Banking Operations Provide Payment Security

Secure Financial Controls – an Imperative to Outsourced Freight Payment

As a publicly held, financial holding company (NASDAQ: CASS), Cass Information Systems' corporate structure provides unparalleled security for its clients, a group that includes some of the largest companies in the world. Consider the following about Cass:

  • Disburse $40 billion annually on behalf of clients

  • Compliant with SEC, Nasdaq, Federal Reserve, FDIC, and State of Missouri rules and regulations relating to accounting standards and controls, disclosure requirements, corporate governance, and safety and soundness

  • Cass Commercial Bank provides sophisticated and secure financial exchange services to our organization and our clients

  • Compliant with SOC 1 Type 2 | SSAE 16 Type 2 | SAS 70 Type 2 audit requirements consistently since 1997

  • Audited annually by KPMG, LLP

Cass maintains a strong financial position to protect the assets of its depositors and customers.

Selecting a Financial Services Partner - Full Transparency

CFOs and controllers should closely scrutinize the financial health and internal controls of any potential financial services partner – particularly your freight audit and payment provider. This business partner must become a trusted steward of your funds as it facilitates a closed-loop, invoice-to-payment cycle on your behalf.

Cass is the only freight payment provider that is both publicly held and a bank holding company. As such, records of our performance are available through a number of public institutions. Other providers are privately held and rely on third-party banks for financial transactions. Transparency is limited because they are unregulated, privately held businesses. These businesses are not subject to bank examinations, are not bound to maintain required capital levels, and do not file regular financial statements available for public inspection.

Implementation of our solution also creates documented, auditable policies, processes and procedures to control and manage expenses and ensure that financial obligations are properly reported within your financial statements and regulatory guidelines.

Cass Payment Systems are Secure

Being a financial holding company provides unique benefits in the area of payment. A built-in funds transfer system tightens the movement, security and tracking of payments. Unique payment needs can be better accommodated. A comprehensive audit trail of all carrier payments provides clear visibility and more timely answers.

When selecting a freight payment provider, the company’s external controls, transparency into financial health, and its payment systems and security are important selection criteria.

View our more recent Annual Report.

Best Practices in Freight Payment White Paper