Independent Banker - May 2019 - 62

Partnering
for Success
When Partnering for Success, Simple Is Better
Mark Dittman, CEO, IBT Apps
Sometimes for someone to trust you, you need to trust them first.
That's one of Mark Dittman's business philosophies for success.
Dittman is CEO of IBT Apps, which partners with community
banks by providing fully integrated, browser-based banking platforms,
such as its revolutionary i2Suite technology.
This " gentlemen's agreement " -as Dittman calls it-is precisely
what worked with Peoples Independent Bank in Boaz, Alabama.
The bank had been a customer of IBT for approximately four
years when it acquired another financial institution. Peoples Independent
needed to fold the acquired bank's clients into its own
base, making sure that it had corresponding products so as not
to alienate those new consumers. IBT worked with Peoples Independent,
designing a financially sound and cost-saving strategy.
" Sometimes for
someone to
trust you,
you need to
trust them first. "
" Typically, the cost of integrating the systems would have been 10
times more, " says Dittman. " But we feel it's important to protect
shareholder equity. Working with us, the shareholders of the bank
know that their life's work isn't going to be ravaged because of an
acquisition. "
" IBT charged no upfront fees for software and only a low four-figure
increase in the monthly spend. Instead of passing the value
on to the core processor, our shareholders created value from the
acquisition, " says Peoples Independent Bank CEO Royce Ogle.
To help ensure a smooth process, IBT works with the team of the
newly acquired bank to educate them on the products and their
benefits to their clients. It helps the entire process move from one
of anxiety of the unknown to one of comfort with knowing their
customers are going to be well taken care of.
" When we negotiate an agreement, one of the things that we build
into it is the ability to charge less should the bank's needs shrink,
in addition to charging more if its needs grow. The charge-moreif-they-grow
model isn't unique to us, to charge less, however, is, "
notes Dittman.
That handshake-style way of doing business is true for acquisitions,
as well.
" We don't contractually address acquisitions because we don't
know what the costs will be-what the acquisition entails and what
solutions the bank being acquired has deployed. We put our trust
in our customers that if they grow through a strategic acquisition,
they'll be willing to sit down with us to discuss what those costs
should be, knowing that in the end they have full control over the
situation, " says Dittman.
Dittman says that the bank's leadership was pleased with how
easy the process was. " They were surprised by how simple it was
to move forward. We didn't do new contracts. It didn't change the
term of their agreement. Everything was just simplified. In banker's
terms, it was done how they expected, which is what no one else
does. "
To
learn more
about IBT Apps
ibtapps.com or call 512-616-1100.
and its products, visit
1500 Arrow Point Dr., Ste. 801, Cedar Park, TX 78613
sales@IBTapps.com // 512-616-1100 // IBTapps.com
http://www.ibtapps.com http://www.IBTapps.com
Independent Banker - May 2019

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