It’s an understatement to note that technology has changed the way people bank, especially compared with how banking was done only a short 20 years ago. The advent of smart phones and mobile device technology has created expectations that banking follows suit. With that technology comes new challenges to protect customers’ data, the key to their financial wealth.
Grand Rapids State Bank’s core customer information system is supplied by FIS, Fidelity Information Systems. FIS is the world’s largest provider of core processing, card issuer and transaction processing services to financial institutions and businesses worldwide. During the next nine months, GRSB will upgrade several of its internal processes with new FIS technology to provide more elegant solutions to its customers, including its business customers.
“Many of the enhancements to our system will be essentially invisible to our customers,” explained Shelly Steere, Chief Operating Officer and Executive Vice President. “Some of the changes will improve our internal efficiency, while others will provide convenience to customers.
“One of the features our business customers will benefit from is the new customer relationship management function,” Shelly continued. “We have for some time asked FIS for the capability to bring our bank to our customers’ workspaces, wherever they are. This new functionality will essentially enable us to do just that. With a laptop or tablet, our business lenders will be ultimately be able to assist our business customers with many banking functions, short of providing cash. We’re excited about this new development.”
Coordinating this roll-out takes a great deal of planning and careful implementation, particularly since GRSB’s sister bank in Delano and Mound had to undergo a similar but more extensive process. Minnesota Lakes Bank, acquired by Wilcox Bancshares in September 2014, converted its entire back office system to mesh with GRSB’s. Now that they’ve caught up, GRSB is taking its turn to add the new elements.
The new sales management functionality will provide access to the bank’s extensive customer information database through one portal. This will allow a business banker to have at their fingertips information about a customer’s accounts. This includes data about a customer’s history with the bank, including which services the customer uses and who within the bank has been in touch with that customer.
“We will implement what FIS considers to be best practice for our sales processes and management reports,” Jeff Lee, Chief Credit Officer, said. “We will also provide alerts to other GRSB employees who may interact with the same customer so there is more continuity from the customer’s perspective.”
“It has been—and will be—a lot of work to put things in place,” Shelly concluded, “but our customers will be the beneficiaries of this substantial investment.”