Success Stories

Today’s competitive and highly-regulated mortgage industry presents banks with opportunity and risk. Florence Savings Bank, a Massachusetts community bank with a large mortgage lending business, recognized that its existing mortgage origination system was out of date and unable to keep up with the pace of change. Numerous workarounds and adjustments had been created over the [...]

Viking Bank, a $600M bank on the west coast, was seeking a way to reduce expenses and improve the overall relationship with a mission critical vendor.  The bank hired an IT specialist to re-negotiate several contracts, resulting in a savings of approximately $2000, or 3.5%, per month.  After speaking with Vitex they realized there was more [...]

Independent Bank Corporation is an Ionia, Michigan-based bank holding company with total assets of approximately $3 billion.  They came to Vitex with a straightforward request – renegotiate the core, item, web banking and EFT contracts to reduce overall costs.  Vitex looked at the tactical and strategic business needs of the bank and developed a comprehensive [...]

High Point Bank has been a trusted financial partner for customers in North Carolina’s Triad reason for more than 100 years.  In the 90s they faced increasing regulatory requirements – including the creation of a strategic technology plan.  As was the case with many community banks at the time, their CFO served double-duty as CIO.  [...]

Bank of the Pacific is a 17-branch community bank headquartered in Aberdeen, Washington.  The bank is largely driven by its commercial lending business, but realized it was spending too much time and money processing “convenience” consumer  loans for its commercial customers.  A new system was needed that would streamline the consumer loan process.  Vitex was [...]

Security Bank has an 80-year history of serving the West Texas community.  When the bank acquired local TexStar Bank in 2008, their core processing vendor quoted $176K for the conversion. Vitex was engaged to help negotiate that figure, and in the process identified opportunities to bring down the overall annual costs for the bank’s core [...]

Vitex has helped numerous financial institutions and Fortune 500 companies realize significant bottom line impact through our AP Micro Review process.  Due to the confidential nature of this business we are unable to disclose individual clients; however the process and the results are consistent.  After conducting an in-depth review of accounts payable transactions over a [...]