THE BANK OF THE PACIFIC ACHIEVES REMARKABLE RESULTS
ATLANTA, GA., -- (June 18, 2009) -- With difficult economic times facing the industry, many financial institutions are looking for ways to reduce branch expenses, while maintaining or improving service. The Bank of the Pacific is an example of a financial institution that found the winning combination.
In the first 13 months after implementation of Financial Management Solutions' The Teller Management System™ , the bank improved the productivity in their 18 branch network from 10.0 to 16.9 transactions per hour, a 69% productivity increase, while reducing their labor costs from $1.49 to $0.86 per transaction, a 42% reduction in labor costs. This was achieved while improving customer service through better scheduling to match the branch staffing to the customer traffic in the branches.
Lynn Paylor, The Bank of the Pacific's SVP/Human Resources Director, attributes their success to the way the bank approached and planned for the implementation of The Teller Management System™.
"We received buy-in from our CFO, President, CEO and Board of Directors before proceeding. We then sat down with all branch managers and supervisors by region to properly lay the foundation for implementation. We talked though the issues and emphasized how The Teller Management System™ supports the Mission, Vision, and Values of our Company and how important the savings opportunity was to the entire organization,"
"The Bank of the Pacific did everything right. Their top-down team approach allowed them to overcome some unique challenges and obstacles and achieve extraordinary results", according to W. Michael Scott, FMSI President and CEO. With The Teller Management System™ firmly in place, Paylor believes they are well positioned to manage the bank's branch operations. "We now have an objective ability to better manage our branch staff as the number one thing that FMSI helped us accomplish. It is a really big deal for us."
About The Bank of the Pacific
The Bank of the Pacific employs over 226 employees with over $627 million in assets. It is a full-service 18 branch community bank based in Aberdeen, Washington committed to providing professional, convenient and personalized financial services to the citizens and businesses of Grays Harbor, Pacific, Wahkiakum, Whatcom, and Skagit counties as well as the northern Oregon communities of Clatsop County. The Bank also has a mortgage operation covering all markets.
About Financial Management Solutions, Inc. (FMSI)
Combining 200 years of financial services experience with innovative technology, FMSI provides comprehensive resource scheduling and performance evaluation solutions for today's complex branch environment. These solutions are designed to improve service, reduce operating costs, and increase profitability by targeting the effective management of financial institution's non-interest operating expenses.
FMSI's integrated suite of branch decision-support software and scheduling tools includes Teller Management System™, Online Scheduling, and Lobby Tracking System™. FMSI works with financial institutions of all sizes throughout the United States. Visit the company's Web site at www.fmsi.com or call 877.887.3022.