FIS Insights - Case Studies and Whitepapers
| Improving Item Processing Efficiency: Union First Market Bankshares Corporation July 2011 | Download file |
Union First Market Bankshares Corporation is a high-performing community bank holding company headquartered in Richmond, Virginia with assets of nearly $4 billion. Union First wanted to achieve a meaningful cost reduction in check processing, expand its depth of reliable support and improve efficiencies through tighter data integration. The bank adopted FIS™ ImageCentre™ to support in-house image capture, data perfection and balancing activities while outsourcing software and hardware hosting and maintenance to FIS.
| Susquehanna Bank’s Vision for the Future of Item Processing | Download file |
Susquehanna Bank is a regional financial services holding company headquartered in Lititz, Pennsylvania with more than 200 branches. Susquehanna wanted a more efficient and flexible processing solution that would: 1) seamlessly integrate CAR/LAR technology; 2) improve processing efficiencies and reduce manual workflow; and 3) could be implemented without disruption to customers or bank personnel. The bank adopted the comprehensive suite of FIS’ item processing solutions including VisionIP, VisionContent and VisionRisk to achieve a savings of 10−12 man-hours per week and elimination of paper check processing.
| The BankPlus® Paperless Transition | Download file |
BankPlus is a community bank with 65 offices serving 33 Mississippi communities and more than $2 billion in assets. BankPlus wanted to reduce paper flows throughout its bank to increase efficiencies and reduce operational expenses. The bank piloted deployment of document imaging advance capture to create the foundation for implementation of document imaging throughout its BankPlus network. Benefits achieved included: 1) elimination of interoffice courier service — a $250,000 annual savings; 2) streamline of centralized operations to gain additional process improvements; and 3) improvement in customer service.
| Bay Cities Bank Conversion Consulting | Download file |
Bay Cities Bank is a community bank with five offices in the greater Tampa area and assets of more than $600 million. Bay Cities Bank wanted to achieve a smooth transition in integrating its new acquisition and converting deposits and loans to the Bay Cities Bank’s IBS platform. As hoped, its conversion weekend turned out to be a “non-event” and the process of going through a full-scale conversion has prepared the bank to handle future acquisitions.
| First Niagara Bank: Providing a Quality Partnership Approach | Download file |
First Niagara Financial Group, Inc., through its wholly-owned subsidiary, First Niagara Bank, has $30 billion in assets, $18 billion in deposits and 346 branches in Upstate New York, Pennsylvania, Connecticut and Massachusetts. In early 2010, First Niagara wanted a partner to support its strategy of growth through acquisitions. The bank leveraged FIS Consulting Services’ Quality Assurance and Conversion Project Management Consulting to achieve on-time and on-budget integration of its acquisition of Harleysville National Corporation and lay a foundation for future quality assurance initiatives.
| Sandy Spring Bank: Analyze Payments, Make More Money | Download file |
Sandy Spring Bancorp is a $3.5 billion community bank holding company with 43 offices in the Washington-Baltimore area. The bank wanted to increase revenues and customer profitability through better understanding of its customer base and development of a payment strategy to leverage customer insights. The bank worked with FIS Consulting Services to develop an enterprise payment strategy framework to better align customer segments with payment products. This effort identified $1.9 million in payment-related revenue lift opportunities.
| Tri City Stops Fraud as It Happens with FIS/ Realtime Decisioning | Download file |
Tri City National Bank is a commercial bank with 38 offices in the Milwaukee area. The bank needed to take a more proactive and strategic approach to fraud management in order to reduce large card fraud losses it was incurring. The bank implemented Realtime Decisioning to give Tri City additional control over its card transactions and proactively monitor fraud. As a result, Tri City was able to stop nearly $5,000 in fraudulent transactions within about a one-month period. Also after a large processor breach affected numerous retailers, Tri City’s confidence in their fraud monitoring tools helped them avoid reissuing cards.
| Guaranty Bank Provides 24/7/365 Customer Support | Download file |
Guaranty Bank is a business and community bank with 34 branch locations serving the Colorado Front Range. Guaranty Bank wanted to provide after-hours call center support for its growing retail customer base without having to staff a second and third shift for an unknown volume of calls. Guaranty Bank implemented the FIS Virtual Back-Office™ solution, which manages a bank’s day-to-day operations for a wide range of back-office services, including after-hours call center support. As a result, Guaranty Bank has been able to improve customer service without increasing the bank’s call center staff.
| OMNI Community Credit Union: ProDirect Attracting New Cardholders | Download file |
With $250 million in assets, OMNI Community Credit Union has more than 33,000 members across Southwest Michigan. The credit union wanted a cost-effective account acquisition tool for targeted mailings that would produce high response rates and would be a turnkey solution. As a result of implementing FIS’ ProDirect, the credit union has boosted its credit card penetration within its membership, increased outstanding balances and improved customer loyalty.
| Progress Towards the Paperless Financial Institution | Download file |
FIS recently conducted a survey that gauges the progress banks have made toward becoming completely paperless institutions. The findings describe the spread of imaging into the various functional areas of a bank and discuss the documents financial institutions are currently capturing electronically. Conclusions drawn from this research are then contrasted with current experience drawn from banks in the midst of paperless initiatives.
| Shifting Investments in Legacy Branch Networks – Finally | Download file |
Actions to reduce costs in an attempt to offset pressure on banks’ revenues are leading to the accelerated rationalization of the industry’s legacy branching franchises. Recent stories appearing in trade publications highlight this trend: BancorpSouth’s intention to eliminate 23 office locations, to First Niagara Bank’s move to shutter 11 offices and to Webster Bank’s intent to close offices. These actions, while obviously noteworthy, do not provide a clear picture of just how much change is occurring across the country. This paper describes the industry shift toward branch consolidation and presents a logical methodology for financial institution executives to analyze branch channel costs.
| Strategic Cost Management Is Key to Efficiency and Profitability | Download file |
To improve the efficiency and productivity of financial institutions, in the face of the banking industry’s current transformation, the following areas of Personnel Productivity must be addressed:
- Business Process Improvement
- Staff Capacity Forecasting
- Management Reporting and Measurement
- Change Management
This paper describes actions bank executives can take in each of these areas to begin to improve their institution’s financial performance.