With BankNews readers casting more than 2,000 votes, this year’s Innovative Solutions Award was the most successful ever. The Innovative Solutions Awards recognize companies that have introduced or significantly enhanced products designed to help community banks better serve their customers. Congratulations to this year’s winners.
The Redmond Company
LEED-Certified Building Design
Waukesha, Wis. | theredmondco.com
The Redmond Company is a full-service consulting/design/build firm that specializes in finding innovative solutions and tailoring them to financial clients’ needs. The company worked closely with Midland States Bank’s board and executive management to plan and design a new headquarters that would house the bank’s administrative, operations and finance divisions. High on the clients’ wish list was a class-A office space, something that would be a complement to the community and address the board’s interest in being environmentally conscious. The result is a four-story, 80,000-square-foot, LEED-certified main office facility located in Effingham, Ill.
The building’s LEED design will benefit the bank through improved operational performance of the building; consolidation of the bank’s administrative, operations and finance divisions into one efficient building; and improved management performance by having all groups in a single building.
The Redmond Company provided strategic planning, site selection, LEED certification and more to create a start-of-the-art headquarters for Midland States.
Outsourced Check Imaging Services
Jacksonville, Fla. | fisglobal.com
The technology behind check imaging is constantly evolving, so an enormous investment in even the latest hardware and software can mean quick obsolescence. FIS offers a full suite of back-office products and services to handle check and statement imaging and archiving needs, fulfill customer research requests in a fraction of the time, prevent fraud, and gain more complete information about existing and prospective customers.
Outsourcing image item processing to FIS also makes it possible to set a community bank apart from its competition by offering your customers new, convenient services. For example, branch and merchant capture as well as cost efficient clearing and settlement through electronic check image exchange are services provided.
FIS offers a data center strategy that leverages combined processing operations of hundreds of financial institutions, providing services more efficiently, less expensively and more responsibly in terms of conserving environmental resources.
CoNetrix | Network Advantage
Wolters Kluwer Financial Services | Reg E Opt-In Manager
LiveSite Testing for Disaster Recovery
Plainfield, Ill. | recoverysolutions.com
Recovery Solutions has created a testing tool that: 1) provides assurance that a bank’s disaster recovery solution will work in the event of a catastrophe; and 2) provides a critical regulatory component addressing the FFIEC’s March 2008 rewrite of the Business Continuity Planning Guidebook and the IT Examination Handbook.
LiveSite testing closely simulates a real-life emergency situation enabling clients to process data and transactions using backup solutions at the recovery site, thereby complying with the FFIEC’s standard of conducting a full-interruption/full-scale test.
By incorporating free virtualization software, such as VMware or Hyper-V, RS clients can now save critical file servers, workstations, data files and applications to an inexpensive external USB hard drive. The USB drive is brought to RS Mobile Banking Test Center, enabling Recovery Solutions to restore all critical applications, data and devices quickly to demonstrate full business resumption.
Recovery Solutions fully documents the entire testing process — from the moment of engagement until completion of the LiveSite test. This document also complies with the regulatory reporting requirements to communicate back to senior management and the board of directors as well as the regulatory agencies.
SynTel | MailStream Manager
ProfitStars | Optimizer
Alpharetta, Ga. | safesystems.com
Continuum was designed to significantly speed up the recovery process for community banks that have been impacted by a disaster or an unplanned business interruption and to allow them to quickly restore their operations. Continuum is a managed data protection, replication, failover and recovery solution that continuously protects business critical data and banking-specific applications. Community banks can now gain the efficiencies of having a FFIEC compliant, dedicated and redundant system.
During a normal business situation, the bank’s servers are constantly replicated to a dedicated virtual server environment in Safe Systems’ secure, SAS 70 Type II fully redundant data centers. In the event of a disaster, the bank will be able to recover its servers from anywhere with Internet access, whether that is a mobile banking unit, a branch or even the local coffee shop.
Safe Systems coordinates all core processor communication in the event of a disaster, provides annual documented testing of IT recovery procedures, and provides a fully staffed network operations center providing expert support to help facilitate the bank’s full recovery from a disaster.
CoNetrix | Tandem Security and Compliance Software
Monitise Americas | Mobile Money
Benchmark Technology Group
Alpharetta, Ga. | benchmarktechnologygroup.com
Enhanced in June 2010, BSA Navigator reduces risk of non-compliance with AML, OFAC and BSA regulations by prompting tellers to implement regulatory requirements during suspect transactions.
Customer information that must be entered into required reporting documents is collected by the teller during the transaction or automatically extracted from transaction history in the core system. This enables customer transactions to be analyzed and filtered to simplify the review by compliance officers the following day.
This system protects against common criminal tactics because it can be configured to monitor cash transactions that occur outside branches that may be used to avoid detection such as wire transfers, ATM deposits and structuring or branch hopping.
BSA Navigator also improves customer service by shifting the compliance burden away from tellers. Banks can significantly improve their confidence levels when it comes to monitoring and reporting suspicious transactions, while enabling tellers to focus on interacting with customers and identifying cross-selling opportunities.
Orbograph | Automation Services
A2iA | CheckReader & OnBase Branch Capture
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