Community Banks Received Industry Recognition for Leveraging Compushare's Cloud Computing Solutions

Santa Ana, CA – (MarketWire – March 19, 2013) Compushare, the nation’s leading Technology Management Provider for the financial industry and pioneer of C³ – the only fully hosted cloud computing solution designed specifically for financial institutions – announced today that two of its C³ Cloud Computing Clients (Bay Commercial Bank, CA and Fortune Bank, WA) have received accolades  from leading financial trade publications and industry associations for their utilization of cloud computing to drive their businesses forward.

In Q4 2012, Bay Commercial Bank was selected as a Tech Leader in Independent Banker magazine for its adoption of cloud computing, which prevented the bank from making significant capital investments, accelerated their pending acquisitions and improved their ability to service clients remotely. The Tech Leader article profiled five community banks that are using technology to drive the industry forward. According to George Guarini, Bay Commercial Bank’s CEO, “If you go the traditional route [building technology infrastructure in-house], necessary upgrades can get very expensive. You don’t have that challenge with C³, because all of our applications are securely hosted in an environment built specifically for financial institutions, which makes upgrades and compliance much more cost effective and efficient and relieves us from all of the headaches associated with maintaining our own technology.” And Janet King, Bay Commercial’s Executive Vice President and COO, noted that “We feel our platform is much stronger today than it ever could have been based on what our budget would have allowed to continue maintaining an internal technology environment.”

More recently, Bay Commercial Bank and its cloud computing deployment initiative was selected as one of the Top 10 Community Bank Information Technology (IT) Initiatives in the February 2013 issue of Bank Technology News magazine. The Top 10 Community Bank IT Initiatives story profiled ten community banks where technologies such as digital fingerprints, cloud computing and responsive web design are among the top innovative solutions utilized to improve bank operations, increase revenue, enhance security and resiliency, and increase customer service in order to become a leader in their respective communities. According to King, “The biggest beauty of C³ for me is the ease in adding new branches, users and applications. Being in a growth environment, this is extremely important. Adding resources like branches can be done in a matter of hours as opposed to weeks or months with our previous on-premise model.”

And most recently on March 1, 2013, Fortune Bank was selected as a finalist by Western Independent Bankers for The Innovative Community Banks of the Year Award. “The Innovative Community Banks of the Year Award represents ways in which community banks are paving the way to innovation in community banking,” said Nancy Sheppard, President and CEO of WIB. “The nominated banks and finalists are prime examples of the way in which innovation and service can successfully meet.” Fortune Bank was recognized for its Cloud Computing Solution, powered by Compushare’s C³ Cloud Computing platform. When Fortune Bank was faced with an aging infrastructure and a desire for increased resiliency and mobility, the bank decided Compushare C³ was the optimum solution compared to rebuilding and investing in a technology infrastructure that didn’t have nearly the economies of scale available within C³. The web-enabled Compushare C³ solution allows Fortune Bank employees to securely access all of their approved bank applications via a custom web portal. With C³, the bank has the ability to easily and quickly add additional branch locations without the need to plan for or purchase additional server hardware.

Fortune Bank officially launched the C³ solution in summer 2012, and already has been able to decommission its local server infrastructure realizing the benefits of centralized data, secure application access from anywhere and system resiliency that was cost prohibitive for the bank to build internally.

“Compushare is honored to have Fortune Bank and Bay Commercial Bank as C³ clients and even more pleased to see these banks be recognized for utilizing the solution in ways that drive their businesses and allow them to focus on the growth of their banks,” said Romir Bosu, CEO, Compushare. “The benefits of cloud computing are significant to community financial institutions and we are proud to have developed a solution that banks can adopt in order to maximize efficiencies, avoid unnecessary costs and improve the way does business with its clients,” added Bosu.

Kathleen Roberge
Chief Business Development Officer
(714) 427-1018