Case Study: Stockman Bank Reduces Integration Time by Over 5 Months and Vendor Integration Cost by up to $150,000
Stockman Bank recognized that to compete with big banks and new FinTech companies they had to develop a digital transformation strategy. As part of this strategy, Stockman wished to introduce new online capabilities including optimal versions of their online banking, online account opening, and teller systems. In parallel with launching these new online capabilities, Stockman also wished to implement an infrastructure that delivered greater speed and flexibility for future projects.
ModusBox and Stockman jointly delivered the first three projects, transforming from a vendor-centric to an integration-centric model based on the API-led approach. This enabled Stockman to deliver projects in a faster and more cost-effective manner and has resulted in customer-facing online capabilities and improved operational efficiency.
“In our integration-centric approach, the core delivers more value because we can leverage more of what it does best rather than burdening it with the complexity that comes with being central to other important systems,” said Kevin Guenthner, CIO at Stockman Bank. “For this reason, we believe our strategy has extended the life of our core system. Now that our ability to provide new solutions and products is facilitated by the integration layer, we have significantly reduced our dependency on the banking core to support our goals.”