VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced today that $700 million Evans Bank selected CoreSoftTM to replace its legacy core platform.
Hamburg, N.Y.-based Evans Bank was looking for a more flexible, performance-driven platform that would boost its competitive edge by improving customer service and enhancing its speed to market for new services and tools. After carefully analyzing several available core platforms, the bank selected VSoft because of its technology advantages, its flexible, scalable foundation and its commitment to the financial industry.
"Our current platform was developed nearly 20 years ago, and we realized a change was necessary to differentiate ourselves and enhance our competitiveness strategically. We needed a provider that could deliver the robust product capabilities on a system that is easy to understand, use and support," said David Nasca, president and CEO of Evans Bank. "We are pleased to work with VSoft for our new core platform, and believe that the partnership will provide the expertise and support that we need to excel."
Howard Martin, CIO of Evans Bank, noted, "CoreSoft is a browser-based system developed in service-oriented architecture that will support Evans Bank's multiple delivery channel, real-time transactions and provide proven regulatory compliance standards and robust reporting capabilities. CoreSoft has advanced systems features and technology supporting best of breed system integrations." Nasca continued, "The bank plans to leverage CoreSoft's comprehensive 360-degree view of customer relationships with next generation CIF to improve service, ensure continued customer retention and accommodate growth in the Western New York marketplace."
Evans Banks expects the new core platform to be implemented during the second half of 2012.
"As a growing community institution dedicated to fostering relationships with customers and their communities, Evans Bank is an excellent fit for CoreSoft's open and performance enhancing infrastructure," said Murthy Veeraghanta, chairman and managing director, VSoft Corporation. "The platform is designed for community-focused financial institutions, enabling them to meet their immediate goals while also providing them with the needed flexibility and scalability to attain long-term growth strategies."
CoreSoft can be implemented as an in-house solution, giving any financial institution the freedom to maintain and configure hardware preferences, or as an outsourced model, providing significant capital cost savings at VSoft's data center, VServe, using one of two models ASP (application service provider) or SaaS (software as a service).