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  • ACQUISITIONS MADE EASIER

    At BankSmart, we have a clear understanding of what it takes to successfully manage the bank or branch acquisition process. We have translated that knowledge into an innovative, web-based SmartKit that is both user-friendly and affordable.

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Contract Renewals and Vendor Evaluations

The BankSmart team has the experience and expertise necessary to help your bank contract for the appropriate products and services at the most competitive pricing.

SmartKitsSM - Designed by Bankers for Bankers

Each of our innovative SmartKitsSM includes clearly defined project plans, timelines, team member and vendor responsibilities, as well as functional activities.

Why You Should Choose BankSmart

BankSmart's sole objective is to assist financial institutions with significant functional projects by creating efficiencies and saving your bank money!

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Testimonials

Vendor Evaluation and Contract Negotiation

Banksmart helped us with an operational review, full vendor evaluations, and finally contract negotiations. Their services were extremely valuable throughout the entire process. They saved the bank many times more than the cost of their service through the efficiency of their pricing models and primarily through vendor contract negotiations. Matt Nightingale, Katahdin Trust Company

Contract Renegotiation

Our bank recently went through a “tech” overhaul and BankSmart’s contract negotiation process allowed us to clearly see the differences in products, services, and prices. Thanks to them we were able to make (and document) an informed decision while saving a significant amount of money. Kelly Jones, The Citizens Bank

Contract Renegotiation

We’ve found a keeper! We engaged BankSmart to assist with our core processing contract renegotiation. Throughout the process, BankSmart folks provided professional and extremely timely service. Response times were so quick on the red-line turnarounds it was as if we were their only customer! Their expertise in the core banking systems is excellent, and their work is very, very thorough. The group is so personable and dedicated, they feel like an extension of the bank. As we strongly feel we received quite a big “bang for the buck”, we have engaged them in a Card Program Review and Debit Network Interchange Evaluation. We will also soon review their Bank and Branch Acquisition SmartKit. Mandy Rowe, 1st Mariner Bank

Contract Renegotiation

The team at BankSmart was a tremendous help to our bank. Through their operational review, they provided recommendations to improve efficiency. As they worked with us to re-negotiate pricing and services with our core processor, they were extremely responsive throughout the process and the negotiated price provided significant savings to the bank. Their expertise and results were definitely worth the cost. Charles DeWitt, Resurgens Bank

Bank Acquisition SmartKit

We love the Bank Acquisition SmartKit product. What a lifesaver it has been for me. It makes the process so much more manageable. Janet Bossi, Ocean City Home Bank

Vendor Evaluation and Contract Renewal

The team at BankSmart was very thorough and provided an exceptional level of service, the consulting services received were valuable and far outweighed the fees paid. Jodi Turner, PrimeSouth Bank

Branch Opening SmartKit

. . . you are a pleasure to work with! You’ve made my life – and this project – manageable. Barbara Hainley, Security State Bank

Vendor Evaluation and Contract Negotiation

We used BankSmart to do an operational overview of our processes. We were very pleased with their professional performance and the results that we received and the results pointed us in the direction of looking for a new core. BankSmart was very instrumental in helping us evaluate different cores. They did all the work crunching the numbers and helped us with an apples-to-apples comparison. I highly recommend BankSmart to help with this daunting task. Pauline Garrett, First National Bank & Trust Co.

Contract Renegotiation

The consulting services we received far exceeded our expectations and the fees we paid were a bargain for the results we realized. The BankSmart team is a pleasure to work with, are very thorough, and provided an exceptional level of expertise and service. Rod Schlosser, First Southern Bank

Vendor Evaluation, Contract Negotiation, and Bank Acquisition SmartKit

B.O.E. Bancshares engaged BankSmart to evaluate two outsource solutions, ensuring each met the requirements of the project scope including a merger, a conversion, new core products, new enhancements, and a migration from an in-house solution to an outsourced arrangement. This was an enormous, highly complex project and the BankSmart Team tackled the project head on, performed flawlessly during the entire engagement, communicated every detail superbly, effectively satisfied the project’s criteria in every aspect, and was instrumental in obtaining the best pricing advantage and service levels. We are very pleased with the performance of BankSmart and the bond established as a result of the project. John Lawrence, Liberty National Bank

Branch Opening SmartKit

I have opened numerous new offices in my career but the Branch Opening SmartKit has really been beneficial to me. It leaves no stone unturned, keeps tasks on track, and has kept me from missing key events. Sharon Thornton, BankFIRST

Bank Acquisition SmartKit

The Bank Acquisition SmartKit kept us on task and timely. The default template made us think of things we would never have remembered and helped us start some very important discussions with each other and our vendors. As the project manager it helped me stay organized. Lisa Talbot, First Community Financial Bank

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Bank Acquisition SmartKit

“As we close out our acquisition project, I look back and wonder how we would have ever successfully completed our project without the Merger SmartKit. The collaborative tool walked us through every step of the acquisition process allowing our team to effectively and efficiently work together without the need for long meetings. Further, the team at BankSmart was always there to help me and was very responsive to any questions I had. Thank you BankSmart.” Kyle Endres, State Bank of Lizton

 bankwest

Bank Acquisition SmartKit

“BankSmart was a life saver. It is so comprehensive and covers many items that would have been overlooked during the acquisition process. The software not only kept us on track to meet our deadlines, it also let us add items that were unique to our bank. We will definitely use the SmartKit again when we go thru our next acquisition” Cindy Ullmann, BankWest

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Call Us at (813) 774-8000

Or complete the form above and we will be in touch within 24 hours.

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Recent Clients

contract renewals & vendor evaluation clients

  • Katahdin Trust Company
  • Progressive Ozark Bank
  • Bay-Vanguard Federal Savings Bank
  • BayBank"/

SmartKit clients

  • Vista Bank
  • MidAmerica National Bank
  • Mid Penn Bank
  • First Bank

Other Services

  • Newton Federal Bank
  • Panhandle Educators
  • 1st Mariner Bank

Contact Us Now

Call Us at (813) 774-8000

Or complete the form above and we will be in touch within 24 hours.

News & Stories

5 Ways to Save Money on Data Processing Expenses – Now!

04/03/2017

5 Ways to Save Money on Data Processing Expenses – Now!By Jim Wilkson
President, BankSmart

Most banks outsource some – or all – of their data processing services.  Even if your bank uses an in-house core processing system, services like ATM and Debit card processing, internet banking, and bill payment services are usually outsourced.  If you’ve seen your vendor invoices then you know they’re charging you pennies, nickels, dimes, and dollars for everything they do for you, so now is a good time to find ways to minimize those expenses.  Here are five ways to find cost savings now.

  1. Purge closed accounts. Service bureau pricing is often based on the number of open and closed accounts on your core processing system.  Many in-house license agreements also base fees on the total number of accounts being maintained on your systems.  Certain accounts must be maintained on the system until annual tax reporting is completed, but other accounts can be purged on a periodic basis.  Even when purged, many core systems will maintain a shadow record of the account for future reference and usually at no charge – especially for closed loans.  Even if your system doesn’t display purged account information, closed account information will be available in your report storage system.
  2. (more…)

All Banks Are Not Created Equal!

03/06/2017
By Jim Wilkson, President
BankSmart

All Banks Are Not Created Equal!

Many bankers have commented that their data processing expenses are significantly higher than their peers.  It may not seem fair, but all banks were not created equal!

Just because your bank is a similar asset size to a “peer” doesn’t mean the way each bank achieved that size is the same.  Bank #1 may use CD’s and Money Market accounts as a significant source of funding for commercial lending, while Bank #2 may attract large numbers of consumer checking accounts as a major source of funding consumer, commercial, and mortgage loans.

Both banks may be the same asset size, but Bank #1 will likely have lower processing expenses because it will take fewer CD and Money Market accounts with higher balances and they will have much lower transaction volumes than Bank #2.  Bank #2 will have more accounts with higher transaction volumes than Bank #1.  When your processing vendors charge you for the number of accounts on their systems and the number of transactions they process, the overall costs will be greater.  In addition, Bank #2 will have additional expenses related to ATM and Debit card transactions, internet banking, bill pay services, and mobile banking needed to support their consumer accounts. (more…)

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