Florida Banking April 2024

CHAIR’S MESSAGE

HOW BANCSERV CONNECTS BANKS WITH QUALITY VENDORS

BY JOSE CUETO, FBA CHAIR

S electing the right partners is central to each bank’s success and to avoiding significant headaches or worse. Conducting our due diligence to make the best choice for the bank - and, therefore, our employees and customers — is often time-consuming and painful. We must consider many factors, such as a vendor’s background, experience, price point, client satisfaction, transition costs, operational risk, etc. The good news is that we have access to a valuable resource that can make the vendor-selection process easier. The Florida Bankers Association’s (FBA) wholly owned subsidiary BancServ, Inc. exists to connect our

members ask prospective partners the tough questions as if they were buying the product for their own bank. We’re grateful to this group for their commitment and service on behalf of our membership. The current board chair is Karen Sharp of BankMiami (IO). There are many benefits to using the products and services offered by FBA’s Endorsed Partners. They offer discounts and other exclusive offers to member banks. Moreover, this is a revenue-generating program for the FBA. Every time a member bank uses an Endorsed Partner, the FBA receives a percentage and those dollars flow back into BancServ and the FBA’s efforts to serve members and advocate for our industry.

members to companies that offer the highest quality products, services and solutions. BancServ’s mission is about helping our members save time, effort and money — directly to our members and indirectly through revenue to FBA. Through BancServ’s Endorsed Partner program, the FBA endorses companies who offer a range of bank products and services, including check and marketing services, Bond

The relationships that the FBA facilitates with quality vendors through BancServ are enormously helpful. As FBA members, we’re receiving recommendations from a trusted source. We also have the opportunity to meet vendors face-to-face at events and learn more about their products and services. Time is a precious resource. The due diligence of the BancServ board of directors

“THE RELATIONSHIPS THAT THE FBA FACILITATES WITH QUALITY VENDORS THROUGH BANCSERV ARE ENORMOUSLY HELPFUL.”

and D&O insurance services, EFT solutions, healthcare and professional lending, compliance solutions, HSAs, core-consulting, office supplies and printing, and more. To become an endorsed partner, companies must undergo a thorough application process and vetting by the BancServ board of directors. In addition, these companies are often already affiliated with FBA as Associate Members and generally have existing relationships with our members. The BancServ board is made up of C-level community bank executives who are heavily involved in the vendor selection or operations of their bank. These board

eliminates hours of research for our banks. Furthermore, BancServ is committed to continual improvement in the services offered, the value provided, and the promotion of partners. To learn more about FBA’s Endorsed Partners or to share your ideas and feedback, visit floridabankers. com/endorsed-products-services.html. Reach out to Director of Partner Relations Brian Hickey at 850 701-3510 or bhickey@floridabankers.com for an introduction. Consider our Endorsed Partners and other Associate Members the next time you’re selecting a vendor!

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