Headquartered in Treynor, IA, the TS Banking Group is a joint venture between two bank holding companies: Treynor Bancshares, Inc., the holding company of Treynor State Bank, and TS Contrarian Bancshares, Inc. Founded in 1923 and comprising over $1 billion in banking assets through its network of acquired banks, TS Banking Group offers a variety of community-focused personal and business banking and wealth management products.
Problem
TS Banking Group strives to preserve the community bank management philosophy by acquiring community banks in the upper Midwest region. By creating a multi-bank operating group, TS helps community banks to enhance their operating efficiency and provide high-level technology, risk management and financial management to better serve their communities. As such, the banking group acquires about one community bank per year and has a consistent need to manage the influx of data as a result of its frequent acquisition projects.
“Converting documents and cold reports is a very painful exercise that requires a unique skill set. It’s not something we wanted to do continually. There’s no value add there,” said Glen Fleming, chief IT and security officer at TS Banking Group. “We needed someone who understood our business to come in, take control and ultimately, get things converted in a timely manner with high quality.”
"You often hear empty promises during the demo stage, but everything NXTsoft said they were going to deliver, they did.”
Why NXTsoft
TS Banking Group quickly identified Integrated Legacy Solutions (NXTsoft), an industry-leading provider of technology for legacy image and data migrations to the financial services industry, as the vendor for the job.
“NXTsoft was able to forge a relationship with us early on. The way in which they initially presented their solutions and walked us through the acquisition project was very compelling,” said Fleming. “Essentially, they could pick up this difficult piece of the puzzle and take care of it for you. You often hear empty promises during the demo stage, but everything they said they were going to deliver, they did.”
To address TS Banking Group’s data acquisition needs, NXTsoft implemented its OmniView Browser, a commercial search tool that enables banks to quickly and easily search for and retrieve legacy data across multiple disparate platforms. NXTsoft migrated all of the incoming data from the acquired bank in its existing format into OmniView, allowing TS Banking Group to quickly access cold reports and other legacy data without incurring the significant cost and disruption that come with converting the acquired data to the banking group’s operating environment in full.
“The delivery was basically flawless. Their whole solution set, from the product itself to the sale to the signing of the contract to the execution is top notch,” said Fleming. “Not to mention, the whole implementation process was completely hands-off for us. Aside from giving NXTsoft access to our systems and providing the data, we didn’t have to do anything. There are very few products you buy where, as an end user, it’s completely hands-off.”
“The delivery was basically flawless. Their whole solution set, from the product itself to the sale to the signing of the contract to the execution is top notch, The whole implementation process was completely hands-off for us. We didn’t have to do anything. There are very few products you buy where, as an end user, it’s completely hands-off.”
Outcome
By implementing the OmniView Browser to address its data acquisition needs, TS Banking Group was able to call upon acquired legacy data much more quickly than if the institution had undergone a full data conversion, minimizing operational disruption. Furthermore, NXTsoft’ handling of the data management piece of the acquisition project removed a pain point for the banking group and allowed its staff to focus on other areas of the acquisition.
“The OmniView platform is very functionally easy to use and allows for the quick retrieval of data,” said Fleming. “It removes the burden of archival lookups for our staff and prevents us from having to spend the resources taking care of data acquisition projects ourselves. OmniView is certainly a very efficient solution that has far exceeded our expectations.”
Beyond the NXTsoft’ product set, TS Banking Group has also benefitted from having a strategic partner on its side to help optimize a historically difficult aspect of its acquisition projects.
“We now consider NXTsoft a key strategic partner. They often make us feel as if we’re their only client,” said Fleming. “Moving forward, there’s no doubt in my mind that they’ll be able to support any M&A activity we bring to the table. Comparing them to any of our vendors, they’re right at the top of our list, regardless of what the vendor provides.”
"OmniView is certainly a very efficient solution that has far exceeded our expectations.”
"We now consider NXTsoft a key strategic partner. They often make us feel as if we’re their only client. Moving forward, there’s no doubt in my mind that they’ll be able to support any M&A activity we bring to the table. Comparing them to any of our vendors, they’re right at the top of our list, regardless of what the vendor provides.”
