Thinking of Starting a Bank?
Five Key Questions to Ask Core Processing Vendors
Q. Will I have access to quality business intelligence so that I can plan for growth?
A. A successful bank is built on sound business decisions and projections so it is important that you have the ability to plan strategically based on market trends, customer behavior, peer analysis and examination of your bank's current business practices. We will provide you with the tools you need to gather and store useful data, and then retrieve and analyze specific information - quickly, easily and accurately. Our analytical Data Warehouse tool allows you to do all this and more and is the best available on the market today.
Q. Will I be able to provide my customers with the products and services they want?
A. Open Solutions' flexible core banking platforms allow you to set up and control your bank's unique parameters-products, rates, records, deposit accounts, loan products, promotions, relationship pricing, and more-in real time without data center or programming assistance. We also provide multiple delivery channels; item processing capabilities; debit cards; online banking; electronic deposit; realtime balancing; front- and back-office support; call center services; interactive voice response; and flexible, customized CRM tools. We have you covered!
Q. Will you be able to keep up with my bank's growth?
A. With two core processing platforms and a variety of ancillary services, we will review your bank's growth strategy and recommend a system that not only addresses your immediate concerns but that is scaleable so it can keep pace as your business develops and diversifies. If business exceeds projections or your market strategy changes, the flexibility of our solutions accommodates quick adjustments so your business does not miss a beat. Over the last few years we have supported the launch of over 30 de novos nationwide. The Legacy Bank (link to case history) and Greater Buffalo Savings Bank (link to brief history) are just two examples of the extraordinary growth our de novo banks have achieved.
Q. Is your solution a good value?
A. We offer big bank capabilities at small bank prices allowing you to compete for customers on a level playing field. We help you plan your implementation down to the smallest detail and train your staff on the new system. And as your bank grows and adds services, we continue to conduct staff training both onsite and online to suit your bank employees' needs and schedules. We are also a safe choice when it comes to regulation and compliance because we possess some of the industry's tightest operational and risk management tools available. We pride ourselves on redirecting compliance efforts away from risk aversion and toward risk intelligence. In essence, we believe we provide solutions of exceptional value.
Q. Can your solution handle growth on one system so I don't have to switch to maintain quality?
A. Yes, it can and to support that statement here's a quote from one of our de novo bank clients, Harold Davis, Jr., Executive Vice President and Chief Information Officer at Greater Buffalo Savings Bank which has grown from $11 million in assets in 1999 to $740 million in assets in 2005:
"We have the same structure we started with in 1999. Our bank's growth can be attributed to our focus on customer service, and the flexibility of the Open Solutions system we elected to open our bank with—there are no restrictions to growing the bank."
