The Weiland Financial Group, Inc. (WFG) offers CAATM (Commercial Account Analysis) for financial institutions as an ASP-hosted solution. WFG was faced with several new challenges in providing Amalgamated Bank an account analysis tool: first, to provide an affordable solution; second, for CAA to be able to communicate with current software; and, most importantly, to be compliant with industry regulations.
Amalgamated had an analysis solution in their bundled software, but Weiland's ASP model is perfect for a bank looking for something more robust. As an add-on component, Amalgamated was not willing to make a huge capital expenditure on additional software.
Weiland took an unusual approach to migrating Amalgamated to the CAA ASP model. âWe presented them with a win-win situation,â said Don Enright, of Weiland. âAmalgamated Bank accepted our offer of a free ROI analysis. With nondisclosure agreements in place, Weiland used their CAA solution to analyze Amalgamated Bankâs data. The results showed clear benefits to using the WFG ASP model over their existing solution.â
âWFG was able to offer a very aggressive implementation timeline,â said Enright. âWe can typically complete an implementation in thirty days, with two months of parallel testing a new account analysis system can be âliveâ in three months.â
âThe decision to implement the Weiland solution centered on the degree of flexibility the system offered and the introduction of the ASP model,â said Bob Page of Amalgamated Bank. âWith the Weiland system, we could develop statement formats aimed at our customer base with special prices at the account level, limit the amount of product codes required, and take advantage of multiple-tiered structures in analyzing our client relationships. Weilandâs modeling tool allows us to judge the impact of potential price changes for competitive and/or profitability considerations. Weiland also meets a growing need to provide the account analysis in an electronic format.â
In addition to Amalgamated, Lake City Bank has chosen CAA, and several others have expressed interest in the ASP model and are in the process of participating in the ROI analysis.