Frequently Asked Questions

Have questions? Just ask!

1. Do you have exams or audits?
   
   Yes. Like you, we are regulated. We have annual FFIEC Technology Service Provider (TSP) exams from federal banking regulators and annual SAS 70 Type II audits from an independent CPA firm. These include reviews of our physical and electronic security measures, backup and recovery procedures, redundant systems, policies and procedures, user controls, insurance coverage and more. Like your institution, we are prohibited by law from releasing our FFIEC TSP exam. BankOnIT clients may request the section of the exam that is available for release from their primary federal regulator. Ask us about providing you a copy of our most recent SAS 70 Type II audit report.
   
2. What steps do you take to protect my information and ensure its availability?
   
   BankOnIT provides clients with privacy and GLBA contractual assurances that are supported by internal policies and procedures and tested by independent audit and regulatory authorities. We host data in two separate locations and have redundant electrical and communications systems.
   
3. What are your hours of operation?
   
   BankOnIT is staffed 24/7/365, monitoring and responding to our clients' needs as they occur.
   
4. What year were you founded?
   
   BankOnIT was co-founded in 2003 by a bankers bank. We have been privately held since 2007 with our executive management team owning 100% of the company.
   
5. Do you have any outside funding or venture capital investments?
   
   No. Many technology firms' business plans involve funding from outside sources, growing quickly and selling. BankOnIT believes that stable, long-term growth is the best way to build value for our ownership team and our clients.
   
6. Do your owners actively participate in the company?
   
   Yes. Our ownership team is comprised of our executive management team. Like you, we show up to work every day.
   
7. I had an I.T. exam and need help, is this something you can help me with?
   
   Yes. New clients frequently ask us for our assistance as a result of an I.T. exam that needs to be addressed. With experienced banking, legal and technical staff, we can assist you.
   
8. How do I get started with BankOnIT?
   
   Simple. Learn more about getting started here or call us at 800-498-8877.