The Fauquier Bank


CHANGE IN PROCESSORS HIGHLIGHT NEED FOR MORE ACCESSIBLE DATA Trying to get back to normal business practice after the transition from one core processor to another, The Fauquier Bank realized that accessing critical data for reporting and analysis would prove to be more challenging than expected. The necessary information was difficult to access and manipulate because it was now spread across multiple sources and in various file formats from the old and new processor vendors as well as in a cold storage system, which complicated the situation even more. However, employees still needed to perform reporting and analysis in order to continue normal business operations, so they resorted to reviewing hard-copy reports line by line. These challenges made it clear that it was time for the bank to take a new look at its whole reporting framework. MODELING, INTEGRATION, PREPARATION AND AUTOMATION TO THE RESCUE The bank realized that the answer was already in-house, as they’d been using Datawatch but in limited ways. The platform allows them to write models based on specific report criteria that would extract data from a variety of disparate sources—including the data warehouses, archives and third parties affected by the transition to the new core processor. Even better, the Datawatch solution can read the different file types and deliver data in a format that business users can act upon. The solution is also used to automate the output of daily reports, without the help of the IT team. As soon as bank data, models and exports all began to be managed by automated command files, users across the organization realized the power of the data available to them. DATAWATCH DELIVERS As business users saw the value in their data, more and more teams began to take advantage of the Datawatch solution. Finance, accounting, retail support and other departments all began to apply analysis to their decision making. For example, the bank now quickly and effortlessly creates data files for a third-party staffing model, ensuring that tellers are properly staffed throughout the day. Back-office teams no longer have to pore over thousands of pages of vendor reports to find the kernels of information, such as changes to the core system, that they need to review. Support and audit areas can now quickly validate banking processes and settlements without the use of paper or the need to have IT on site to create and deliver reports. Benefits like these are evident across the organization. THE FAUQUIER BANK This locally-owned community bank offers commercial and retail financial services such as internet banking, insurance, wealth management and financial planning. Established in 1902, The Fauquier Bank has offices in Fauquier and Prince William Counties in Virginia. INDUSTRY Financial Services FUNCTION Banking CHALLENGE As the bank grew, so did its volumes of data and the variety of areas in which it was housed. A transition to a new core processor, however, made taking a fresh look at its reporting framework immediately necessary. SOLUTION The bank needed to be able to extract and use data from a variety of vendors and disparate sources. Datawatch automated these cumbersome manual processes, making report generation significantly more timely and efficient. BENEFITS The ability to quickly provide complete, relevant data has made users throughout the business more interested in how they can leverage information to guide immediate decisions and optimize all areas of the operation.