Overcoming Hesitance To Making A Change
Oakland-based bank using technology to compete with larger institutions.
One reason banks give for not switching away from an existing IT provider is that they’re wary of a painful and costly migration.
They’ve been scared by difficult transitions in the past and have a hard time believing anyone could be different. This fear results in banks continuing in a poor technology situation that they know is not driving them forward. Oakland’s Gateway Bank is a beneficiary of best-in-class process. “It never came to the level where I needed to pay attention to it,” said Gateway Bank President, CEO & Director Glen Terry. And now that BankOnIT is taking care of the bank’s technology 24/7, Glen is finally able to ask his internal team to tackle key strategic initiatives. Prior to the switch, his Information Security Officer, Chris Chong, spent his days just trying to keep the bank’s technology above water. But now Chris focuses on helping Gateway compete against larger competitors in key areas like mobile banking. “Using technology is critical to being able to compete with larger institutions,” said Terry. “If we appropriately use technology, including the technology BankOnIT provides, we can compete with the biggest of the banks.”