Success StoriesNational Bank Of Kansas City Puts it All Together with the Open Architecture and Expansive Capabilities of PhoenixEFE™  National Bank of Kansas City is a decade-old institution that’s part of a two-bank holding company, with six branches, $750 million in assets and a full range of products to support its largely commercial as well as retail customer base. Technology is a key enabler of the bank’s success.
“…PhoenixEFE, with its open platform, takes integration to the next level. It’s not just a core system. It’s not just Internet banking or CRM. It is a solution that wraps all of the products our bank uses today -- or will need in the future – into one.” Eric Garretson
CFO
National Bank Of Kansas City | “When we originally looked at core providers, we wanted a partner who was going to be on the cutting edge of technology and constantly pushing their product to new limits. Integration was also key. Our bank has spent a lot of money on custom programs that we need to tie into the core,” said Eric Garretson, chief financial officer for National Bank Of Kansas City. “In my mind, PhoenixEFE, with its open platform, takes integration to the next level. It’s not just a core system. It’s not just Internet banking or CRM. It is a solution that wraps all of the products our bank uses today, or will need in the future, into one.” With PhoenixEFE, all bank employees get a comprehensive customer view – and that helps build relationships. “What I like about PhoenixEFE is that it takes the marketing out of our marketing department’s hands and actually puts it at the front line,” Garretson said. “With one look, our CSRs and personal bankers can see what products the customer has and what additional products he or she might need.”
“One of the things I’m most excited about with PhoenixEFE is the single sign-on feature. All we have to do is sign-on once to access all of our information, which saves time and eliminates the need to key in multiple passwords.” Eric Garretson
CFO
National Bank Of Kansas City | At the same time, bank management has a streamlined way to identify the bank’s key deposit customers and respond strategically. “When we dissected our customer base, it really allowed us to figure out who those key deposit customers were and where we needed to focus our efforts. One of the most surprising things to me was that our key customers were not those with the larger balances or those who had the greatest number of products,” Garretson said. “We actually found that our key customers are those with balances of $50,000 to $250,000. All of our marketing efforts and all of the rates that we offer are now targeted to those particular customers.” This capability also helps with risk management. “In today’s banking environment, strong governance is key. To that end, we use PhoenixEFE to quantify our ‘deposits at risk’ – all of our brokered CDs plus our customer relationships that are in excess of FDIC limits,” Garretson explained. “We apply that knowledge in all of our projections, as well as keeping our regulators informed and our board of directors up-to-date with our potential liquidity risk.”
“What I like about PhoenixEFE is that it takes themarketing out of ourmarketing department’s hands and actually puts it at the front line.” Eric Garretson
CFO
National Bank Of Kansas City | Coming out with the right services for today’s busy business customers -- like merchant capture -- is also critical for retention. PhoenixEFE enables National Bank Of Kansas City to bring those options to the table, and reduce costs in the process. “We saw merchant capture not so much as a way to gain new customers, but to keep our existing commercial customers by offering them more convenience,” Garretson said. “Before we rolled out merchant capture, we had a handful of customers within close proximity to our bank branches, and we were paying for courier services between their facilities and those branches. Now, we are able to reduce those expenses by around $4,000 or $5,000 a month.”
“Before we rolled out merchant capture, we had a handful of customers within close proximity to our bank branches, and we were paying for a courier services between their facilities and those branches. Now, we are able to reduce those expenses by around $4,000 or $5,000 a month.” Eric Garretson
CFO
National Bank Of Kansas City | Just as important, the solution makes life a little easier for everyone who uses it. “One of the things I’m most excited about with PhoenixEFE is the single sign-on feature. All we have to do is sign on once to access all of our information, which saves time and eliminates the need to key in multiple passwords,” Garretson said. “It also makes our people more efficient. They no longer have to worry about which system to go to in order to find whatever information they need. It’s all right there at their fingertips – in one place.” But, for Garretson, the innovative technology is only part of the equation. The relationship between National Bank Of Kansas City and Harland Financial Solutions is equally important to the bank’s continued success. “When you’re dealing with a solution that is so entrenched in your entire daily operations as PhoenixEFE is, you need a partner. With the Harland Financial Solutions team, we have that type of partnership,” Garretson said. “Their assistance is critical to our operation. Their continued support is key – and we’ve been pleased with their response and the way they continue to deliver innovative technology that gives us a competitive edge.” |
