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Community Banks Receive Industry Recognition for Leveraging Compushare's Cloud Computing Solution

Mar 19 2013 12:00AM

Marketwire

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SANTA ANA, CA -- (Marketwire) -- 03/19/13 -- Compushare, the nation's leading Technology Management Provider for the financial industry and pioneer of C3 -- the only fully hosted cloud computing solution designed specifically for financial institutions -- announced today that two of its C3 Cloud Computing Clients (Bay Commercial Bank, CA and Fortune Bank, WA) have received accolades from leading financial trade publications and industry associations for their utilization of cloud computing to drive their businesses forward.

In Q4 2012, Bay Commercial Bank was selected as a Tech Leader in Independent Banker magazine for its adoption of cloud computing, which prevented the bank from making significant capital investments, accelerated their pending acquisitions and improved their ability to service clients remotely. The Tech Leader article profiled five community banks that are using technology to drive the industry forward. According to George Guarini, Bay Commercial Bank's CEO, "If you go the traditional route [building technology infrastructure in-house], necessary upgrades can get very expensive. You don't have that challenge with C3, because all of our applications are securely hosted in an environment built specifically for financial institutions, which makes upgrades and compliance much more cost effective and efficient and relieves us from all of the headaches associated with maintaining our own technology." And Janet King, Bay Commercial's Executive Vice President and COO, noted that "We feel our platform is much stronger today than it ever could have been based on what our budget would have allowed to continue maintaining an internal technology environment."

More recently, Bay Commercial Bank and its cloud computing deployment initiative was selected as one of the Top 10 Community Bank Information Technology (IT) Initiatives in the February 2013 issue of Bank Technology News magazine. The Top 10 Community Bank IT Initiatives story profiled ten community banks where technologies such as digital fingerprints, cloud computing and responsive web design are among the top innovative solutions utilized to improve bank operations, increase revenue, enhance security and resiliency, and increase customer service in order to become a leader in their respective communities. According to King, "The biggest beauty of C3 for me is the ease in adding new branches, users and applications. Being in a growth environment, this is extremely important. Adding resources like branches can be done in a matter of hours as opposed to weeks or months with our previous on-premise model."

And most recently on March 1, 2013, Fortune Bank was selected as a finalist by Western Independent Bankers for The Innovative Community Banks of the Year Award. "The Innovative Community Banks of the Year Award represents ways in which community banks are paving the way to innovation in community banking," said Nancy Sheppard, President and CEO of WIB. "The nominated banks and finalists are prime examples of the way in which innovation and service can successfully meet." Fortune Bank was recognized for its Cloud Computing Solution, powered by Compushare's C3 Cloud Computing platform. When Fortune Bank was faced with an aging infrastructure and a desire for increased resiliency and mobility, the bank decided Compushare C3 was the optimum solution compared to rebuilding and investing in a technology infrastructure that didn't have nearly the economies of scale available within C3.

The web-enabled Compushare C3 solution allows Fortune Bank employees to securely access all of their approved bank applications via a custom web portal. With C3, the bank has the ability to easily and quickly add additional branch locations without the need to plan for or purchase additional server hardware.

Fortune Bank officially launched the C3 solution in summer 2012, and already has been able to decommission its local server infrastructure realizing the benefits of centralized data, secure application access from anywhere and system resiliency that was cost prohibitive for the bank to build internally.

"Compushare is honored to have Fortune Bank and Bay Commercial Bank as C3 clients and even more pleased to see these banks be recognized for utilizing the solution in ways that drive their businesses and allow them to focus on the growth of their banks," said Romir Bosu, CEO, Compushare. "The benefits of cloud computing are significant to community financial institutions and we are proud to have developed a solution that banks can adopt in order to maximize efficiencies, avoid unnecessary costs and improve the way does business with its clients," added Bosu.

About Compushare

Compushare is the leading provider of high quality, innovative technology and compliance solutions for the financial market. Whether it's providing a totally outsourced cloud computing solution or assisting with the management of your technology or IT strategic plan, Compushare takes a consultative approach to its solutions. With more than 15 years of technology experience supporting over 800 financial clients nationwide, Compushare is a SAS 70 Type II certified, FFIEC reviewed, and preferred partner with many major providers. Compushare C3 Cloud Computing is the only on-demand fully hosted cloud computing solution designed specifically for the financial market. From our leadership team to the members of our service delivery team, our array of knowledge, certifications and practical expertise is unrivaled in the Financial Services Industry.

Learn more about Compushare, Inc. at www.compushare.com.



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Source: Marketwire