A new core system is a significant financial investment and time commitment. Finding the right core partnership to meet your bank’s needs takes time to research and vet the options. Gilmer National Bank started exploring their core options when they realized their current provider was not adapting to the changing climate and not making the updates needed for the bank to grow their business. They took IBT Apps through their vendor management process, and we learned, from being on the vendor side, what it takes for a community bank to secure the right core partnership. The information below serves as a firsthand account of vendor management in action using Gilmer National Bank’s story.
The success of a bank hinges largely on their relationship with their core partner. This is especially true for community bankers since the needs for each are specific to the demands of their business. For community bankers to retain market share in an ever-evolving market, it is essential for them to choose a core solution that is intuitive, and an active partner that is willing and able to do what they need to stay competitive.