Independent community bank uses SwiftKnowledge to monitor Regulation E's effect on its NSF and overdraft income, and increase customer retention by tracking opened and closed accounts

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EDEN PRAIRIE, MN, Oct. 27, 2010 – SwiftKnowledge, LLC, a global provider of web-based business intelligence (BI) software, announced today that Kleberg First National Bank, an independent community bank in southwest Texas founded in 1905, has implemented the SwiftKnowledge for Banking solution to empower all bank employees to access and analyze up-to-date information on their own, and reduce the time and effort they spend manually preparing and reviewing reports.

With SwiftKnowledge, Kleberg First National Bank runs robust reporting and analytics on the critical banking data stored in existing Jack Henry Banking™ repositories, including its Jack Henry SilverLake System® core and Vertex Teller™ Capture complementary systems. Now, all bank employees — including the chief executive officer, chief financial officer, regional presidents, executive vice presidents, senior managers, banking center managers and personal bankers — can use the SwiftKnowledge system to see a unified, interactive, dashboard view of integrated banking data based upon their job role or security permissions, in a presentation meaningful and useful to them.

"As a locally owned and operated bank founded in 1905, we believe investing in the best technology and the best talent is our top strategy for delivering superior, consistent service to our customers," said Brad Womack, vice president and controller for Kleberg First National Bank. "We selected SwiftKnowledge for Banking because of its ease-of-use and the fast rollout enabled by its out-of-the-box Jack Henry Banking integration, pre-built banking reports and pre-built dashboards. We believed — and rightly so — that these pre-built templates would enable us to rapidly create the accurate reports needed to efficiently run our bank and be useful starting points for creating our own custom reports. With SwiftKnowledge, all of our banking data is seamlessly combined and available for analysis, without sacrificing data integrity or network performance."

Before SwiftKnowledge, Kleberg — like many banks — was using a cumbersome combination of Microsoft Excel and various other software applications to run rudimentary reporting and analysis. Reconciling information from different data systems and applications — including Jack Henry Banking and IBM/Cognos 6 — was difficult, resulting in disintegrated or manually integrated, aesthetically displeasing, static reports that were rigid, incomplete or inaccurate. Consequently, bank staff spent an excessive amount of time compiling, fine-tuning and disseminating basic banking information rather than focusing on higher-value, customer-centric endeavors and providing timely feedback on performance to branches and staff.

Now, Kleberg uses SwiftKnowledge to power a variety of BI applications across its bank, including reporting on Not Sufficient Funds (NSF) income, Overdraft Protection income and Opened/Closed Accounts. For example, with SwiftKnowledge, the bank can quickly review NSF and overdraft fees — a major revenue source for banks — for the past 30 days to compare results over time and also attempt to identify catalysts for shifts that have occurred. These items also are of particular importance due to the federal Regulation E (Reg E) which requires banks to obtain opt-in approval from customers for fee-based services such as overdraft protection.

"If we didn't have SwiftKnowledge, we would have to systematically review and pull into Excel transactions for each day in the required timeframe, then manually manipulate the data to understand Regulation E's impact on our overdraft protection income," Womack said. "With SwiftKnowledge, we can complete this analysis in minutes, rather than hours, and easily revise the timeframes as needed to understand other trending as well. This real-time access to information helps us quickly spot decreases in overdraft income, so we can immediately intervene to staunch the decline or, if needed, strategize to backfill the loss with other types of income."

Kleberg has reaped a number of other benefits from its SwiftKnowledge for Banking implementation, including increased accountability, reallocation of resources and data integrity.

"We've had reporting systems that provided only half the information, so we couldn't count on the data," Womack said. "But because of the way SwiftKnowledge is designed and integrated with our existing systems, our executive team believes the numbers, and we know there's no doubt in the information. That makes it easier to get things done. We know we can pull the numbers back to Jack Henry at any time, and the numbers will be perfect. The data integrity is unmatched."

In the future, Kleberg Bank plans to utilize SwiftKnowledge for Banking's Stress Tests/Credit Quality Management and Cash Management applications, as well as leverage the technology to more effectively target new prospects and increase its new account acquisition rates.

"SwiftKnowledge has become a launching point for making decisions at Kleberg Bank," Womack said. "With SwiftKnowledge, Kleberg's bankers have information at their fingertips which they've never had access to before. … Everyone grasped how to use SwiftKnowledge pretty quickly, and they recognize the system's benefit to them, so they're using it."

"We're extremely pleased with SwiftKnowledge for Banking and are miles ahead of where we were before we implemented it," concluded Womack. "In fact, we estimate the software easily paid for itself within the first 12 months of implementation. I use it every day, and several of my colleagues are already addicted to their dashboards. We believe SwiftKnowledge for Banking quickly will become an indispensable tool used by our bankers on a daily basis, enabling Kleberg to more efficiently and effectively provide the exemplary, personalized customer service upon which our bank was built."

Kleberg evaluated the reporting and analytic solutions Banker's Dashboard and Jack Henry jhaKnow™ during its selection process but selected the SwiftKnowledge application based upon the high level of data integration and data granularity it provides. The bank was also impressed with the more than 100 pre-built banking reports and dashboards included in the solution, which have proven to be useful starting points for creating their own custom reports.

"Kleberg First National Bank is a great example of the common data challenges faced by today's banks, and the benefits that can be achieved quickly with our integrated technology," said David Macey, chief executive officer for SwiftKnowledge. "Most banks maintain more than one data repository, and the integration of data from these various systems can be a difficult task resulting in incomplete or questionable information available for reporting or analysis purposes. In addition to our robust, patented BI capabilities, SwiftKnowledge gives banks a flexible platform for integrating all of their bank data — a pre-requisite for the business analytic activities that follow."

To access the full case study describing Kleberg Bank's SwiftKnowledge for Banking implementation, click here.

SwiftKnowledge is demonstrating the SwiftKnowledge for Banking solution in booth #523 at Jack Henry Banking's Banking Educational Conference and Technology Showcase, held this week in Grapevine, Texas.

About SwiftKnowledge for Banking
The SwiftKnowledge for Banking business intelligence product suite has revolutionized the banking market by providing real-time, secure, 100 percent web-based access to multiple financial data sources for proactive, effective management of key performance indicators such as risk, cash and growth. The easy-to-use, integrated solution offers more than 100 pre-built reports and dashboards along with a full array of reporting and analytics, proactive notification, and predictive modeling functionality for deposit management, financial management and loan management applications including cash management, customer product retention, customer/prospect marketing, customer management, fiscal management, peer comparisons, portfolio management, profitability management, stress testing/credit quality management and teller management.

About SwiftKnowledge, LLC
SwiftKnowledge, LLC is a global software provider of powerful, patented business intelligence (BI) technology delivering a breakthrough experience for business users which drives strategic metrics and enables better decision-making throughout an organization. The SwiftKnowledge BI platform enables a new era of easy-to-use BI applications offering a revolutionary, ad-hoc analysis experience in web time and with a zero-footprint web deployment; with its patented Interactive Data Streaming™ (IDS) and Component-Level Security™ (CLS), SwiftKnowledge provides unmatched performance, scalability and security. The company's unique approach and support for cloud computing-based deployments and applications provides a robust yet sustainable solution for organizations integrating BI into operational applications; seeking an easy-to-use tool for heavy, ad-hoc BI workloads; and operating within the limitations of constrained IT resources. For more information about SwiftKnowledge — a Microsoft Gold Certified Partner — visit www.swiftknowledge.com.

About Kleberg First National Bank
Kleberg First National Bank is an independent community bank serving Kingsville, Corpus Christi and the surrounding South Texas region. Since our establishment in Kingsville in 1905, we have built your bank on a foundation of integrity and community involvement. We remain committed to excellence in convenience, service and value for consumers and small business customers. For more information, visit www.klebergbank.com.

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