In March of 2003, INTRUST Bank hired BLM Technologies to perform routine maintenance on their teller-validator printers with the hope of reducing its costs. INTRUST Bank was paying what the financial institution considerable a steep price for their teller validator printer manufacturer to perform routine maintenance and needed a cost-effective method for repairing the bank's technology. The bank's teller validator printers also needed to be upgraded to efficiently support the bank's operations.
For INTRUST Bank, headquartered in Wichita, Kansas, watching technology costs is a critical concern. Since its inception in 1876, INTRUST Bankhas grown to hold $2.8 billion in assets at 43 branches in Kansas and Oklahoma. It is the largest independent bank holding company headquartered in Kansas.
The move to BLM turned out better than expected with BLM charging 85 percent less than the manufacturer. This savings was in part because BLM charged the bank only for services completed, as opposed to the manufacturer's high monthly maintenance fee for services not rendered yet.
INTRUST Bank relied on the expertise and OEM relationships that BLM offers to analyze its operations. As a result, the bank purchased a new inventory of teller printers. BLM recommended the bank switch to a brand of validator printer that was more economical and a better fit to the bank's needs. BLM also provides various types of other hardware from more than 100 manufacturers on an as-needed basis, such as specialty printers that print money orders.
To accommodate INTRUST Bank's budgetary constraints, BLM purchased the bank's legacy equipment and gave them a credit towards the purchase of a new inventory of printers. The new printer model is quieter and faster than the previous model, and because it has more advanced technology, it has more capabilities.
As a result of the change INTRUST saved 85 percent on maintenance costs of their teller validator printers by switching from the manufacturer to BLM, a savings of more than $10,000 in the first year of service. In addition, INTRUST Bank reported substantial savings on the specialty hardware that BLM provides. "We have a strong relationship with BLM because our account manager answers all of our questions about bank technology without pressuring us to buy a specific brand - they are truly OEM neutral," says T.R. Goering, senior vice president of information technology of INTRUST Bank. "Because of their extensive knowledge of bank technology, BLM offers us the optimal solutions for the most economical price."
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