Headquarters: Greybull, Wyo.
Asset size: $203 million
Project: New commercial lending platform.
Why it's cool: Technology opened up a new market for the bank.
Open Door to Commercial Loans
The software platform deployed by Big Horn Federal Savings Bank worked well for many years. But sweeping changes in the banking market forced the bank to re-evaluate its technology platform.
John Coyne, the bank's chief executive, says the recession and credit unions' push into consumer banking drove the move to offer more business loans. The Miser platform, designed by FIS, that Big Horn Federal had been using "was really good to us, but as we looked forward, it became very limiting and it didn't have a good application for commercial lending," Coyne says. After the bank reviewed its options, Big Horn decided to buy the Cleartouch platform designed and distributed by Fiserv Inc.
The best part of the new platform is that it processes transactions in real time. "That has allowed the institution to take a couple of giant steps forward in how we can ultimately serve our customers and client base," Coyne says.
