Central Bank, based in Jefferson City, Missouri, recently converted 13 banks and their entire commercial loan portfolio to Shaw Systems’ COMMERCIAL™ product. The on-site project team, comprised of Central Technology Services staff, Central Bank personnel, and two Shaw consultants, flawlessly executed the conversion. Balancing and validation of data went according to schedule, and they were able to verify that all data converted properly as planned. The conversion turned out to be one of the smoothest in which both Central Bank and Shaw Systems had participated.

Central Bank recently expanded its relationship with Shaw Systems by selecting the vendor’s RETAIL™ application to process their growing consumer loan portfolio. The bank wanted a solution that provided flexibility in defining products, fees, services, and reports and also offered advanced features and capabilities to enhance fee income and to bring new products to market in shorter time frames.

“The success of the COMMERCIAL installation, and satisfaction with the product, made the choice to add RETAIL a relatively easy decision for us, “ said Bob Boeckman, Senior Vice President and Manager of Information Systems at Central Bank. “ We look forward to expanding our terrific relationship with Shaw.”

About Central Bancompany
Central Missouri Trust Company was founded in 1902. Renamed Central Bank in 1987, parent company Central Bancompany, Inc. was formed in 1970 as a holding company of banks in the state of Missouri, currently operating 13 banks with nearly $7 billion in assets and headquarters in Jefferson City.
 

BB&T’s Retail Loan Operations department was recently faced with the challenge of updating their credit bureau reporting to meet the Metro 2 requirements.

The Metro 2 format for reporting consumer debt, developed by the credit reporting industry, facilitates complete and greater accuracy of reporting of data. Greater accuracy subsequently produces a better credit report and provides additional features for the report user. The format is the industry standard for providers of information.

Implementing Metro 2 can be complex because it requires interpretation of how the data is stored. BB&T and the RETAIL team worked closely to interpret and fine-tune the data format and ultimately implement a successful conversion to Metro 2.

"We incorporated the changes into RETAIL Release 4.8, which now contains a robust Metro 2 solution that will benefit all RETAIL users in the future," said Courtney Moses, Vice President and RETAIL Product Manager. "RETAIL will continue, however, to support the original Metro solution for those clients not able to convert to Metro 2 when upgrading to Release 4.8."

“We were very pleased with the initiative Shaw Systems took in determining, understanding, and implementing the Metro 2 standards into their RETAIL product,” said Chris Lee, Vice President and Loan Operations Manager at BB&T.

Contact your Relationship Manager to learn more about RETAIL Release 4.8, or send e-mail to support@shawsystems.com.
 

Two days after a New Orleans-based bank was battered by Hurricane Katrina, their
COMMERCIAL system was back in production in a different data center located in another state.

Shaw Systems provided 24/7 assistance to the bank, which has been a client since 1981. “The staff at the bank worked extremely hard under challenging conditions to get the system up and running,” said Karl Grimsley, Shaw’s COMMERCIAL Product Manager. “We knew they would need intensive assistance during this unprecedented disaster recovery effort, so we did our best to provide them with both technical and moral support. Shaw Systems sends its thoughts and prayers to all of the bank’s employees and their family members.”

Shaw Systems donated almost $10,000 to the Salvation Army’s hurricane relief efforts.

Citizens Financial Group completed the integration of Mellon Financial Corporation's retail, small business, and select middle-market banking operations in Pennsylvania, Delaware, and New Jersey six months earlier than originally planned. The complete integration of Mellon's 345 branches included completion of the systems conversion, transitioning employees, introduction of new products, establishment of operational facilities and implementation of business models, according to a September 5 press release from the company.

Shaw Systems played an important role in the systems conversion portion of the acquisition. Shaw's Client Services consultants and employees assisted Citizens in the conversion of Mellon Bank-acquired assets.

In a letter to Citizens Bank employees, Larry Fish, Citizens Financial Group's Chairman and CEO, congratulated all involved on "a hugely successful conversion."

San Antonio-based Frost Bank, the largest independent bank in Texas, uses Shaw's RETAIL, COMMERCIAL, and COLLECTIONS products. This $8.4 billion financial institution has been a valued client since 1980.

Betty Thompson, Executive Vice President of Credit Administration Support, oversees the RETAIL and COMMERCIAL operations areas.

"I have been with Frost for over twenty years and currently have responsibilities for our Loan Services Department," Thompson said. "With the help of some extremely talented loan and IT support staff, those responsibilities include commercial and commercial real estate documentation, booking, post closing, credit and collateral files, accounting functions for both retail and commercial, and letters of credit."
"The use of Shaw as a single loan vendor has been very beneficial in allowing us to combine certain functions for both RETAIL and COMMERCIAL. We have seen definite efficiencies with both back room and end-user training. The front-line user training becomes extremely important during acquisitions and has also been enhanced by the use of DPMH."

"Simplified Input and Scripted Data Entry (SDE) have not only increased our data entry production, but SDE has also allowed us the ability to review certain transactions up front. We have established edits within SDE to allow for the review and override of transactions related to such things as, prepayment penalties, participation payments, and payments made prior to billings being created by the system. This has saved us a tremendous amount of time and money on the back end."

Thompson has been a member of Shaw's COMMERCIAL Executive Advisory Board since 1998. The COMMERCIAL and RETAIL Boards are each made up of customers who help provide input about system enhancements and the direction of future product development. "I believe the Executive Advisory Board is a "win, win, win" for Shaw, their clients, and the board members themselves," Thompson said. "Shaw has made numerous enhancements in new releases based on recommendations from the EAB. They have been able to leverage the incredible amount of loan expertise that exists among the members. In addition to system-related issues, the members are also very open and willing to share best practice information. My tenure on the board has afforded me the opportunity to develop some very good relationships with my peers. This peer network has been invaluable to me and to my job here at Frost."

People's Bank, a Shaw client for over a decade, is a diversified financial services company providing commercial, consumer, insurance, and investment services. It is the largest independent bank in Connecticut with assets of more than $12 billion, more than 150 branches, and 230 ATMs.

People's Bank uses Shaw's RETAIL system to service daily simple interest loans, revolving, and non-revolving lines of credit. Ivette Gonzalez and Janice Scully are key members of People's RETAIL system support team.

Ivette, a Project Specialist in the Consumer Loan Servicing area, started working at People's in 1980. Her responsibilities include support of the RETAIL system by maintaining the Bank Control Records, Edit Files, Products, Upgrades, Reports and Enhancements. She also provides user support and system training and coordinates the Year-end IRS reporting process.

Jan has been with the bank since 1984. She is a Consumer Loan Representative in the Consumer Loan Servicing area and has extensive system knowledge based on years of payment exception processing. Jan's responsibilities include system testing, training, research, and monitoring the amortized Equity Credit Lines. Jan also assists other areas with functions such as exception processing, balancing, and new loan setup.

Last year Ivette and Jan worked on the upgrade of the RETAIL system. "We've enjoyed working closely with various Shaw representatives and have obtained greater system knowledge as a result," Jan said.
Some of Ivette and Jan's team accomplishments have included the following:

Building their Bank Control Records (BCR), Insurance Control Records (ICR), System Security, Edit files, and Simplified Input Screens to meet their business needs.

Elimination of customized in-house programs and reports to utilize Shaw's software and obtain greater system benefits.

Automation of Prepayment Penalties and Insurance Rebates via RETAIL.

Online storage of Insurance Certificate numbers.

Creation of RETAIL Simplified Input screens for new loan setup and maintenance.

Creation of a standard sequence number for property addresses.

Development of the "Tip of the Day," an e-mail notification to the staff of any System updates, enhancements, and procedural changes.

The RETAIL team's knowledge of the system and their spirit of teamwork make for a winning combination at People's Bank.

Nissan Motor Acceptance Corporation (NMAC) is the captive finance company for Nissan North America. Infiniti Financial Services (IFS) is the captive finance company for the luxury car division, Infiniti. NMAC uses the Shaw RETAIL system, primarily for consumer installment loans. All of the loans are indirect through Nissan Retailers.

The Nissan Customer Center - Dallas (NCCD), handles all of the consumer and dealer loan servicing for all of North America and Guam for NMAC and IFS. There are approximately 600 NMAC employees at NCCD in all areas of business operations including Credit Services, Contract Processing, Consumer Communications, Collections, Lease Customer Network, Loss Recovery, Wholesale Processing, and Transaction Processing.

Tim Gilligan, Nissan North America's Senior Relationship Manager, Information Systems, said, "We currently have over 1,000,000 consumer loans and leases outstanding; over 250 dealer commercial loans, including capital, mortgage, and equipment; and over 400 dealer floorplan accounts."

All regional offices were consolidated into one center in Dallas in 1991, and NMAC was the first captive finance company to consolidate into one facility. This centralization enabled NMAC to implement many efficient processes, both operational and technological, that were not possible with a decentralized branch environment.

Tim has been with Nissan for over 12 years. His responsibilities have included both Business Operations to Information Systems.

Nissan North America outsourced all IT services to IBM Global Services in October of 1999. Tim's current job responsibility is to serve in a liaison role between IBM and NMAC. He's responsible for IT service delivery to NMAC. "Managing an outsourcing vendor and contract is new to me and presents a different set of IT challenges."

Tim has been a member of the RETAIL Executive Advisory Board since 1996. "The board is an excellent opportunity for Shaw clients to offer their input on system enhancements," he said. "In addition to meeting before, during, and sometimes after the annual Workshops, we have quarterly conference calls to discuss pressing system and business issues. I have built a lot of great relationships with fellow board members and Shaw personnel since I have been on the board."

Chemung Canal Trust Company, a Shaw Systems COLLECTIONS client since 1995, has experienced improved performance and low delinquency rates while using the product.

Resource Recovery Manager Dave Wakeman and his staff of 4 collectors are frequently acknowledged at the bank's officer meetings for their excellent performance. Their average delinquency rate for the quarter ending 6/30/03 was .71%. The New York Bankers Association (NYBA) reports average delinquency for the same quarter at 1.97% for similar-size banks.

Wakeman said, "The COLLECTIONS system plays a crucial role in managing past due accounts and keeping the delinquency well below industry standards."

Wakeman is also pleased with the exceptional support from Shaw, especially the help he's received from Marcus Ebenhack and Paul DeMarsh.

About Chemung Canal Trust Company
Chemung Financial Corporation, established in 1833, is a $750 million financial holding company that provides financial services to individuals, businesses and municipalities in Chemung, Steuben, Schuyler, Tioga, and Broome counties, as well as the northern tier of Pennsylvania.

The institution offers a full range of financial products and services including checking and savings accounts, commercial and consumer loans, and trust and investment products and services.