VSoft core banking platform will help bank gain a competitive edge with speed to market, customer insights.
CHICAGO, Oct. 11, 2011 – VSoft Corporation, a global information and technology provider of process improvement solutions for financial institutions, announced today that $700 million Evans Bank selected CoreSoft™ to replace its legacy core platform.
Hamburg, N.Y.-based Evans Bank was looking for a more flexible, performance-driven platform that would boost its competitive edge by improving customer service and enhancing its speed to market for new services and tools. After carefully analyzing several available core platforms, the bank selected VSoft because of its technology advantages, its flexible, scalable foundation and its commitment to the financial industry.
“Our current platform was developed nearly 20 years ago, and we realized a change was necessary to differentiate ourselves and enhance our competitiveness strategically. We needed a provider that could deliver the robust product capabilities on a system that is easy to understand, use and support,” said David Nasca, president and CEO of Evans Bank. “We are pleased to work with VSoft for our new core platform, and believe that the Partnership will provide the expertise and support that we need to excel.”
Howard Martin, CIO of Evans Bank, noted, “CoreSoft is a browser-based system developed in service-oriented architecture that will support Evans Bank’s multiple delivery channel real-time transactions, and provide proven regulatory compliance standards and robust reporting capabilities. CoreSoft has advanced systems features and technology supporting best of breed system integrations.” Mr. Nasca continued, “The bank plans to leverage CoreSoft’s comprehensive 360-degree view of customer relationships with next generation CIF to improve service, ensure continued customer retention and accommodate growth in the Western New York marketplace.” It is expected that this new core platform will be implemented during the second half of 2012.
“As a growing community institution dedicated to fostering relationships with customers and their communities, Evans Bank is an excellent fit for CoreSoft’s open and performance enhancing infrastructure,” said Murthy Veeraghanta, chairman and managing director, VSoft Corporation. “The platform is designed for community-focused financial institutions, enabling them to meet their immediate goals while also providing them with the needed flexibility and scalability to attain long-term growth strategies.”
CoreSoft can be implemented as an in-house solution, giving any financial institution the freedom to maintain and configure hardware preferences, or as an outsourced model, providing significant capital cost savings at VSoft’s data center, VServe, using one of two models ASP (application service provider) or SaaS (software as a service).
About Evans Bancorp, Inc.
Evans Bancorp, Inc. is a financial holding company and the parent company of Evans Bank, N.A., a commercial bank, with $703 million in assets, 13 branches and $587 million in deposits at June 30, 2011. Evans is a full-service community bank providing comprehensive financial services to consumer, business and municipal customers throughout Western New York. Evans Bancorp’s wholly-owned insurance subsidiary, The Evans Agency, Inc. provides property and casualty insurance through 13 insurance offices in the Western New York region. Evans Investment Services, Inc., a wholly-owned subsidiary of Evans Bank, provides non-deposit investment products such as annuities and mutual funds.
Evans Bancorp, Inc. and Evans Bank routinely post news and other important information on their Web sites at www.evansbancorp.com and www.evansbank.com.
About VSoft Corporation
VSoft Corporation offers core and payment-processing solutions that improve service, reduce cost and maximize efficiency for financial institutions. Its solutions provide seamless, real-time, high-volume and high-performance transactions across multiple channels and can be delivered in–house, or as an outsourced ASP or SaaS model to best meet the needs of individual financial institutions.
VSoft’s services have been trusted by more than 1,900 banks, credit unions and savings institutions, as well as transaction processors, governments, utilities, telecommunications and retail organizations worldwide. The company’s growth and stability has been recognized by inclusion in the Inc. 5000 list for four years running and featured in Bank Technology News’ 9th Annual Innovator Awards for CoreSoft, its core solution. For more information call 770-225-7692 or visit www.vsoftcorp.com.
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