BayCoast Bank Selects FMSI to Significantly Reduce Time Spent Producing Staffing Reports
Financial Management Solutions, Inc. (FMSI), a provider of business intelligence solutions for banks and credit unions, announced today that BayCoast Bank has adopted FMSI’s Teller Management System™ (TMS) and has been utilizing the system successfully over the last several months. The $941 million, Massachusetts-based financial institution has significantly reduced the time it was spending preparing and analyzing internal workforce optimization reports, while simultaneously receiving enhanced reports with greater detail for its 15-branch locations.
"It was very time consuming for us to prepare workforce optimization reports internally,” said Jim Wallace, SVP & CFO at BayCoast Bank. “Furthermore, our reports generally did not provide the detail we required to fully support our staffing and service decisions. FMSI’s solution saves us a lot of time and also allows us to evaluate important details that we did not previously have access to, including each teller’s individual performance and our rank in the FMSI industry productivity ranking report.”
The Teller Management System™ schedules tellers based on forecasted transaction volumes, thus helping financial institutions gain better control of labor costs while increasing service levels.
"Community Banking is constantly reviewing staffing levels based on transaction volumes without losing focus on service and sales to meet customer expectations,” said Wallace. “The FMSI reports helps us all validate our staffing levels through such metrics as excess-waiting-for-work-time, which provides an extremely valuable reference when we are deciding whether or not to replace positions and/or add new positions.”
“Without the right business intelligence, most financial institutions are not equipped to make a thorough evaluation of teller performance levels,” said W. Michael Scott, President/CEO of FMSI. "FMSI has more than 20 years of experience helping banks and credit unions improve the productivity of their staff through meaningful business intelligence. Our unique solutions for measuring and forecasting transaction volumes on a monthly basis regularly reveal areas for better service and increased productivity."
About BayCoast Bank
BayCoast Bank is a successful community bank serving the people and businesses of southeastern Massachusetts and Rhode Island. The Bank upholds the time-honored belief in community involvement and provides a wide range of financial services. BayCoast has locations in Fairhaven, Fall River, New Bedford, North Dighton, Seekonk, Somerset, Swansea, Westport and Tiverton, Rhode Island. In addition to offering a vast array of deposit and loan products, BayCoast offers insurance and brokerage services to consumers and businesses alike. Affiliates include BayCoast Financial Services, offering stocks, bonds, mutual funds, annuities and college savings plans and Partners Insurance Group, LLC, a network of independent agencies representing several insurance companies that provide automobile, home, life and business insurance coverage. Learn more at www.baycoastbank.com
About Financial Management Solutions, Inc. (FMSI)
Located in Atlanta, GA and established in 1990, FMSI provides easy-to-use yet sophisticated, business intelligence systems —The Teller Management System™ (TMS), The ContactCenter Management System™ (CMS), and the Lobby Tracking System™ (LTS)—that allow financial institutions to manage and staff to meet their service and sales needs. As the industry experts, FMSI gives banks the ability to schedule their team throughout the branch network, and to manage staff through easy-to-read color graphics and succinct management reports. FMSI provides performance management information exclusively to financial institutions of all sizes. Visit the company's website at http://www.fmsi.com or call 877.887.3022 to schedule a complimentary online demonstration of any of our products.