Proformance, a leading provider of document automation and business process improvement solutions for financial institutions, announced the acquisition of two new customers for their Info-Access product.
City National Bank of Miami, Florida and Bankers Trust of Des Moines, Iowa have signed agreements to implement the integrated loan document imaging, tracking and exception processing solution into their operations.
City National Bank, with over $4 billion in assets, is one of the largest, most profitable banks in Florida. Bankers Trust's assets exceed $2 billion and it is the largest locally-owned bank in Iowa. Both banks will integrate INFO-ACCESS with the Metavante Core Processing system as well as other business applications to streamline operations resulting in greater efficiencies, improved customer service and compliance with applicable banking regulations. Legacy systems at both banks will be replaced by INFO-ACCESS.
Steve Simpson, Senior Vice President and CIO at City National Bank, commented on why they chose INFO-ACCESS. "One of our bank's primary objectives is to provide superior service to our customers," said Simpson. "As an innovator in the banking industry with exceptional efficiency rankings, we seek to accomplish our goals by choosing 'best of breed' technology to partner with our best practices. INFO-ACCESS clearly delivers the operational efficiencies we need to provide service that results in long-term customer loyalty."
Milea Schnathorst, Vice President of Operations at Bankers Trust, anticipates many benefits through INFO-ACCESS that will enhance the bank's operations. "We were literally running out of storage space for all of the loan paperwork. INFO-ACCESS is the perfect solution for taking our loan processes to an electronic format, reducing the paperwork that needs to be kept onhand," said Schnathorst. "Plus, we're a three-state bank," she added, "With this new system, all of our branches can see the loan documents immediately no matter where they're physically located. This is a great improvement compared to the previous delay of a few days for the paperwork to be distributed."
Wayne Whaley, CEO of PROFORMANCE, Inc., stated, "We provide a solution that not only ensures the loan document tracking process complies with banking industry regulations, it actually makes it easy for banks that are audited to produce the requested information." Whaley added, "We know that banks also need to be able to decrease costs and enhance customer service. Both of which are possible with INFO-ACCESS. Nothing compares to our product in the financial industry."
Both banks will complete installation of INFO-ACCESS in the third quarter of 2009.