Create a business continuity solution to comply with strict industry regulations, and protect a multi - billion dollar business.
Solution:
Enterprise Bank and Trust chose KingsBridge Disaster Recovery (formerly Binomial) and their three-tier approach of consulting, Phoenix software (Banking version), and integrated maintenance to create a dynamic business continuity plan that stays current, and reflects the optimal solution at any point in time.
Enterprise Financial Services Corp. – Overview
Enterprise Financial is a high growth financial services holding company which addresses the needs of their clients through two principal lines of business: Commercial Banking and Wealth Management.
The company is the parent of Enterprise Bank & Trust, under which brand it operates in the St. Louis and Kansas City markets.
Currently there are thirteen Enterprise Bank & Trust locations encompassing $3.5 billion in banking and trust assets.
Situation
When Enterprise Bank and Trust needed a business continuity plan (BCP), they chose KingsBridge to develop and support their planning requirements.
In addition to protecting their business, Enterprise had regulatory requirements that are common in the financial industry.
As a bank and trust company, Enterprise has audits from HIPPA, FDIC and FFIEC to name a few.
As Enterprise had already worked through their Sarbanes-Oxley requirements and had a Risk Management Division, they were on the road to compliance, but they were not able to put everything together to develop a plan to recover their business in the event of an emergency.
After an exhaustive search and interview process, Enterprise Bank and Financial found KingsBridge.
KingsBridge offered the ability to capture daily activities with on-site interviews and continue the planning process with Phoenix software and maintenance.
Requirements of Enterprise’s Business Continuity Plan:
1. BCP AUDITORS COMPLIANCE - Fast
Reached full industry compliance within 5 weeks from initial visit.
2. NO DISRUPTION TO BUSINESS
Maintained uninterrupted high service levels.
3. PROTECT CUSTOMER’S ASSETS
Differentiated Enterprise in the marketplace.
4. ON GOING SOLUTION
Prevented “stale-dating” of continuity plan.
Solution
Enterprise Bank and Trust chose KingsBridge, and has been pleased with their performance and commitment from the beginning.
While Enterprise Bank and Trust is confident they can satisfy the auditors, their BCP also gives them the ability to continue their service, without interruption for their customers.
By leveraging this option Enterprise Bank and Trust set themselves apart from the competition; as it offers another level of confidence for their customer’s ability to access their money, regardless of the situation.
KingsBridge used a three pronged approach for Enterprise Bank and Trust, consulting, software and TIM (Totally Integrated Maintenance).
Initially KingsBridge worked with Enterprise for 3 weeks on-site to develop their initial plan.
Once the initial plan was created, KingsBridge implemented a custom tooled version of Phoenix for Banks which allowed Enterprise Bank to update their plan with ease and effectiveness.
Finally KingsBridge implemented TIM. TIM allowed KingsBridge to ensure the plan remained an evergreen document.
TIM pushes the ongoing BCP solution automatically to Enterprise Bank and Trust, so the confidence in the plan (pre, during and post disaster) being current is high.
Benefits
By embedding the software and ongoing maintenance into the solution, KingsBridge gave Enterprise Bank and Trust another level of confidence in their ability to service the customer.
The task of Business Continuity Planning was turned from a burden, passed from person to person, to an asset which sets them apart from their competition.
In addition to differentiating themselves from the competition, Enterprise Bank and Trust is fully compliant for Business Continuity Planning with all regulatory bodies.
Thus Enterprise Bank and Trust can focus on their core business of serving their customers.
