Head office: 1101 Arrow Point Drive, Suite 305, Cedar Park, TX 78613 Tel: 512 616 1100 Other offices: Des Plaines,Denver Website:
www.ibtapps.com Contact: Crickett Cook, marketing director Email:
ccook@IBTapps.com Founded: 1999 Ownership: Privately owned Number of staff: Around 60 Partners: Microsoft plus a range of application, distributor and reseller partners
Functionality
IBT’s typical market is community banks and credit unions with under $1 billion in assets. IBT now has around 60 employees and claims 300+ clients across the applications within its broad i2 Suite. Around one-third are credit unions. It initially targeted the mid-west and south-east, moving of late into the north-east as well. It has a few referral partners but most sales are direct. The suite comprises: the core banking system, i2 Core; i2
Payments for electronic bill payment; i2 Phone; i2 Check21; i2 Teller; i2 Contact for customer tracking; i2 OLB for online banking; i2 Docs for document management; i2 Mobile; and i2 RDC for remote deposit capture. A fair few customers have one or two of the applications, rather than the full suite, and this used to be a focus for IBT but, today, it is mainly focused on winning core banking deals. There are smaller, more specialist applications as well, such as i2 CUBC, to allow credit unions to scan sharedrafts to create image-based deposits. In the second half of 2014, IBT was working on adding a personal finance management solution that would allow banks to aggregate data for the customer from multiple accounts, allowing cross-marketing. A launch was planned in mid-2015. IBT was also working on providing support for mobile field staff, to allow them to perform functions at customer sites.
Uptake
During 2013, Peoples Independent Bank, in Alabama, moved to an outsourced version of i2 Core. Being replaced was the in-house deployed Bancado offering from local rival, Waldorf Computer Systems. The $300 million community bank was on the lookout for a system that was fully integrated, real-time and flexible, especially in lending, said Royce Ogle, president at the bank. ‘We also had to ensure the solution delivered quality and affordability that would allow us to remain competitive’. The bank commenced its selection in late 2012 and it spanned around 18 months. It had initially partnered with
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For mobile banking, IBT teamed up with fellow Texas-
based supplier, FI-Mobile, in June 2014. FI-Moible does not provide the transaction part of the solution but rather handles the adaption of web front-ends for mobile devices. In 2008, IBT acquired MICR Resource Management. This
brought a data center. Today, most of the IBT customers use its core system on a hosted basis. Of the twelve customers to sign between mid-2013 and mid-2014, for instance, only one was for an in-house licence version. Then in March 2012, IBT bought Atlanta, GA-based Beacon
Software, which provided online banking, bill payment, telephone banking, mobile banking, disaster recovery and managed services to community banks. Most of the Beacon customers have been moved to IBT’s applications. In October 2016, IBT partnered with Deluxe Corporation
to offer Bankers Dashboard and Credit Union Dashboard (collectively Deluxe Performance Dashboard) to clients using i2Core.
In December 2016, XCEL Federal Credit Union (XCEL),
partnered with IBT to incorporate various payment, lending, and content management services, for improving overall customer experience. In the same month Credit Union of Texas (CCUTX) of Austin, established a collaborative partnership with IBT for a digital banking transformation.
a consultant to help in the selection. It is thought that US vendors Jack Henry and Cardinal were also in the running for the deal.
As for choosing IBT, Ogle said IBT’s conversion team had experience in banking and with this type of project. He added that visiting the vendor’s reference sites made the bank’s decision ‘much easier’. ‘They weren’t shuffling paper like we were and that is exactly what I wanted to get away from.’ The project was finished within an eight-week timeframe.
IBT’s president, Golebiowski, said: ‘We tested every component and carried out a series of postings of the core without any transaction input to make sure the data was
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company details
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