Livingston State Bank. Wipfli helps implement a new computer system.
Complete implementation from start to finish.
Situation
Livingston State Bank’s mission—to serve its customers and meet all their financial needs—has remained the same for more than 100 years. Founded in 1903 by local farmers and merchants, the Wisconsin bank has now grown to more than $140 million in assets. The financial institution embraces an ongoing commitment to modernize services, operations, and product offerings. One such effort was the recent need to adopt a new computer system that would include a new data processing partner and a new network service provider.
Strategy
Three years prior, Livingston State Bank experienced an ownership change. Wipfli’s partnership role during the change gave the firm valuable insights into the bank’s policies and procedures and the ability to quickly review the organization’s needs and swiftly move forward with a plan. In addition, Wipfli brought expertise beyond that of an accounting firm. They brought industry expertise to the system selection process. With an acute understanding of the importance of IT in banking security and success, as well as the competitive advantages that having the right system can provide, Wipfli helped Livingston State Bank judiciously evaluate the best systems for its needs. Ultimately, the bank’s management elected to change its core systems. Beyond the selection process, Wipfli further established efficient working relationships with system vendors on behalf of the bank.
Benefits
Livingston State Bank was able to secure Wipfli consultants on an as-needed basis, which suited the bank’s needs and budget. Beyond the selection process, Wipfli also supported the bank through the critical conversion process, ensuring all compliance issues were thoroughly addressed. The firm also provided on-site training, as well as the refining of policies to reflect the new system and its new procedures.
