Gary Welsh, senior vice president of First Bethany Bank & Trust in Bethany, Okla., wasn’t exactly thrilled when the bank’s longtime print and mail vendor closed shop back in 2009. Fortunately, First Bethany already had a trusted partner in CSI for its Remote Deposit Capture (RDC) product, so he didn’t look far for a replacement. And once the switch happened, Welsh discovered just how much CSI could bring to the table.
“We did not realize how much we had just accepted,” Welsh says of the previous vendor. “The other shop had been doing the same thing since 1980.”
He says CSI’s Print & Mail solution—which the bank uses to outsource the production and delivery of its monthly statements and notices—has improved operational and cost efficiencies, generated excellent delivery times, and “runs like a Swiss watch.”
But the gains reach much further than that.
“The biggest thing we looked for was a vendor who could not only do print and mail, but also be knowledgeable enough to help us go into image statements,” Welsh says. “We had image statements before we went to CSI, but they were very basic.”
He says CSI’s advanced technology and inventive design tools breathed new life into the bank’s image statements, bringing them on par with the industry: “The images just popped off the pieces of paper.”
Welsh goes on to say that CSI’s RDC solution creates additional conveniences for First Bethany’s customers and employees.
“We get lots of dollars in our deposit base from our RDC clients—and a teller never touches them,” he says. “That’s helped keep personnel costs down. And we’ve had absolutely zero dollar-loss with the product.”
But, most importantly to the bank, RDC helps gain and retain customers operating outside Bethany—from Lubbock, Texas, to Denver and beyond.
“We have a client who was in Bethany and had to relocate, and by using this product, we’re still their bank,” Welsh says.
The ability to better serve customers is indeed priceless, but measurable results also go a long way.
“We’ve seen huge improvement in every aspect, from delivery to cost savings—CSI’s process has saved us a significant amount of money,” Welsh says of the more than $13,000 saved in paper and postage since implementing CSI’s Print & Mail. “The first year, we saw a big drop in our paper and production costs, and now that we have CSI’s eStatements going at a good clip, we’ve seen our postage costs go down. And the great thing is, they continue to decrease every year.”
Further, personnel costs have remained steady, even as the bank grows: “We’ve almost doubled our asset-size in the last five years, and we’ve not had to increase our staff,” Welsh says. “We do have other efficiencies, but the bottom line is, yes, we feel like our products—especially the Print & Mail, eStatements and RDC—have allowed us to grow our bank without having to grow our staff.”