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03/17/2010IBT Ends 2009 With 21% Revenue GrowthVendor's innovative solutions continue to see positive industry response
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CEDAR PARK, Texas, Feb. 08, 2010
Integrated Bank Technology (IBT), a company that specializes in providing core processing, imaging software applications and a comprehensive integrated suite of products for financial institutions, announced that although industry technology spending decreased in 2009, the demand for innovative, cost effective solutions resulted in a 21% percent revenue growth for the company. IBT's flagship product is Integrated Bank Environment (IBE), a repository for not only a financial institution's core system, but also the foundation for all delivery channel ancillary systems enabling everything to be tracked and managed from a single system. In addition, IBT has expanded its market reach into the Credit Union space adding 70 credit unions to its emergent client base.
"In spite of the many challenges that financial institutions have experienced during the past two years, they still have maintained focus on process innovation as the key to increasing margins and maintaining viability in their market place," Mike Golebiowski, president at IBT, explained. "Additionally, consumer backlash against the mega banks has resulted in significant gains for community banks and credit unions. As a result, many of them have found that the flexibility and total integration our technology provides is the best way to meet their needs." "We began working with IBT when our core vendor sold its business units to the company, but we have purchased additional products because of the superiority of its system over other vendors," Brad Rose, vice president of information technology at State Bank of La Junta, explained.
IBT also expanded its presence with offices in Chicago, Denver and Cedar Park. The corporate offices, located in Texas, are the central hub for all disaster recovery operations with 30-minute total recovery capacity for all data center operations. The Denver office provides support personnel and development staff of key product functionality within IBE and all U.S data center operations were centralized and consolidated at the Chicago office, along with key support and installation personnel.
"Although a lot of the signs point to the recession being technically over, financial institutions will continue to be impacted by a number of negative factors this year, including the high unemployment rate and increased regulatory oversight," Golebiowski added. "However, they can meet these challenges through a sound technology investment strategy, and we look forward to another successful year as more banks and credit unions recognize the new, innovative and totally integrated approach to technology that IBT offers."
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