Business Opportunity: Spring Bank, a de novo bank established in August of 2008 in the Milwaukee, WI area, serving the southern Wisconsin market, didn’t wait long to begin offering remote deposit capture.
“Establishing the capability was high on our list of things to do and offer when we opened.” said bank president, David Schuelke. “We saw the competitive advantage of this service to attract business customers outside of our physical footprint.”
The bank has been able to attract new business customers from as far away as Madison and southwestern Wisconsin, well outside of its footprint.
The Solution: After an extensive search of potential solutions, Spring Bank selected for its remote deposit solution iStream Deposit®from iStream Financial Services and Digital Check’s CheXpress CX30 small business scanner and TS230 batch-fed scanner.
Schuelke added, “we selected iStream first and from the scanners recommended by iStream, we chose Digital Check’s scanners as the most reliable choice for our customers. Since our customers are outside of our footprint and we are a small bank, we wanted them to have scanners that would work reliably so we wouldn’t have support issues. We and our customers have found these scanners to be easy to use and extremely reliable.”
Overall Benefits: Schuelke adds, “As a result of offering RDC to our customers we have achieved our goal of offering great products and services while at the same time helping them to be and stay successful. We have also kept ourselves competitive in the marketplace.”
As a new bank Spring Bank has much more flexibility to bring products to market quickly and that allows them to compete more effectively with their larger counterparts. Offering RDC has allowed Spring Bank to grow faster than they would have without the offering.
About Spring Bank: Spring Bank is a full service bank (business and personal services), with the focus of serving small to mid-sized privately held businesses.
Spring Bank’s commercial banking team of professionals bring over 100 years of combined commercial banking experience.
Spring Bank’s brand statement is…”We provide our clients the attention they deserve, service provided by experienced bankers, that are empowered to make decisions promptly.”
Spring Bank’s competitive advantage is its ability to analyze business requests individually and make decisions fast.