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...their approach to customer service, details and compliance far exceeded our expectations.

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Featured Case Study

In early 2003, Patriot Federal Bank of Canajoharie, NY, began to organize. Kate Wolfe, the bank's COO and VP, remembers the point at which they considered the gap between what they needed to do to open the bank, from a technological standpoint, and what they knew how to do:

We are bankers. We are not information technology professionals. With technology advancing at the pace that it is today, we knew that we needed someone to help us integrate our banking services into the advanced technology our customers would demand. Inqbank was referred to us by Dan Hudson, Bankmark CEO, and from the first meeting with Inqbank until after we opened our doors on December 5, 2005, their approach to customer service, details and compliance far exceeded our expectations.

A quick overview of the process would include the following:

  • Assistance in the preparation of Sections 6 and 7 of the application.
  • Expert guidance in the selection of the core processor.
  • Conference calls and review of proposals and contracts with the Bank’s core processing company to understand and determine the technology needs of the bank.
  • Development of the network architecture.
  • Selection of vendors for cabling, phone installation, phone programming, server room build-out, ATM transition, and upgrades to the security systems.
  • Detailed spreadsheets outlining computer hardware and software costs, which included negotiations for the best price.
  • Detailed project plan and updates.
  • Selection of local IT provider and coordination of installation of equipment and software for training lab and full network rollout.
  • Quotes for various options relating to telephone systems.
  • Vender coordination in ordering all equipment.
  • Support for all issues related to the network and security that arose during the process.
  • On-site for several days to coordinate installation of equipment and software and to ensure that it is working correctly.
  • Troubleshooting problems with turn-up of interface to third-party network security provider.
  • Troubleshooting during conversion weekend including anticipation of possible problems.

Inqbank consultants were onsite three times during the implementation phase.

I would highly recommend Inqbank to any de novo institution. Inqbank is a state-of-the-art company offering a distinctive service that I think is essential to a start- up financial institution. Our project was somewhat unique in that in addition to opening a new bank we also acquired another bank’s branch and equipment. Guy Daubenspeck, Inqbank VP Operations/Project Manager for Patriot Federal Bank, enabled us to manage our opening in such a way that caused a seamless conversion from their equipment to ours. His leadership and expertise was unprecedented. It was liberating as the manager of our bank opening to know that whatever needed to be done, it would be done by the deadline both accurately and with superior quality.

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