STRATEGIC INFORMATION TECHNOLOGY PLAN
2015
PURPOSE
The fundamental purpose of the Strategic Information Technology (IT) Plan is to provide a multi-year framework and direction for the use of technology by Bank Star. The Strategic IT Plan provides a formal framework for communicating the organization’s future growth and the technology plans to support that growth. The plan facilitates decision-making from Bank Star’s perspective. The following identify the principal factors driving the Strategic IT Plan.
• The use of technology for mission critical and day-to-day business functions requires the executive focus of Bank Star.
• The rapid pace of change for IT and the limited nature of IT resources require enterprise-wide optimization of justified IT expenditures.
• New technology implementation is required to remain competitive in an ever changing technology landscape.
• There is increased focus by auditors and regulators on information technology use and management.
It is important that Bank Star recognize that technology is an enabler of business objectives, not the driver of business objectives. Therefore, the Strategic IT Plan is developed to support the Bank Star Strategic Plan. To this end, the Strategic IT Plan is a roadmap, providing the strategies to support the business objectives of Bank Star through the application of technology.
A secondary business objective of the Plan is to consolidate technology into fewer vendors, reducing vendor risk assessment requirements and overall costs through economies of scale.
The Bank Star Technology Steering Committee (TSC) is responsible for the development and maintenance of the Strategic IT Plan.
SCOPE
Technology today, and in the near future, holds the promise of improving the way Bank Star provides services. And technology, if managed properly, is capable of providing a steady stream of additional benefits to Bank Star, and our customers. Many advanced technologies have become more affordable for small to mid-size financial institutions. Bank Star must evaluate the implementation and use of technology from an enterprise-wide perspective.
The planning horizon for this Strategic IT Plan is three years. However, a Strategic IT Plan is a dynamic document and the planning process that supports the development and maintenance of the plan is continuous. The components of the plan must be adjusted periodically (at least once a year, ideally in concert with the strategic business planning process) to fit the changing business and technology climate, and organizational resources.
STRATEGIC INFORMATION TECHNOLOGY PLAN
2015
It is important to note that the Strategic IT Plan does not provide detailed requirements analysis for the technology initiatives identified in this plan. The plan provides a high-level framework and does not replace the need to complete detailed analysis of requirements, technology, and business needs.
STRATEGIC INFORMATION TECHNOLOGY PLAN
2015
TECHNOLOGY STEERING COMMITTEE (TSC)
The TSC will fulfill its mission and will support Bank Star’s business strategy. The TSC recognizes that the following components are important aspects of Bank Star’s business strategy:
• Support the business growth of Bank Star in its current geographic markets.
• Contribute to improved financial performance while maintaining an extraordinary level of customer service.
• Maintain strict regulatory compliance of all laws, rules, and regulation.
• Enhance overall Shareholder value.
The TSC will recommend cost-effective, superior technology services to Bank Star by being involved with a nationally recognized technology outsourcing service provider.
CURRENT ASSESSMENT
Core Banking Applications:
• Hosted by FIS
• Work centralization is helping to dramatically improve data quality and report consistency. Data/Voice Network:
• Solid, reliable.
• MPLS based, T1 or greater.
• Maintained by FIS.
Servers and Local Area Networks:
• Solid, reliable.
• Maintained by Karpel Solutions.
• Server equipment more than 3 years old for the most part.
• VM environment.
• Microsoft 2008.
• Microsoft standards.
• Server environment healthy. Workstations:
• Reliability improving with aggressive replacement program.
STRATEGIC INFORMATION TECHNOLOGY PLAN
2015
Internet Access
• Provided through FIS firewall.
• Access controlled by Bank Barracuda firewalls.
• Data protected by VIPRE. Voice Communications
• VoIP ShoreTel system implemented.
• Single vendor environment.
• Maintained by Karpel Solutions.
• Multi-party teleconferencing.
• Videoconferencing capable, but not used. Bank Personnel
• Function consolidation is improving the quality of work.
• Employee training is consistent across all locations.
• Bank processes and procedures are standard.
• Business knowledge is shared consistently.
• Bank-wide employee communication is improving. Information Security Plan (ISP)
• Very solid; major vendors have been reviewed in depth.
• Major vendors are shared by all banks.
• Documentation of risk assessments is consistent in all areas.
• Board approval of the ISP is performed uniformly.
FOCUS OF STRATEGIC INFORMATION TECHNOLOGY PLAN
The primary focus of the Plan will be to address Bank deficiencies identified in the Current Assessment, to remain technology competitive, and to enable growth opportunities. The Plan will focus on improving the consistent use of core Horizon applications by auditing Horizon process and procedures at each location and implementing best practice procedures. The issues with the existing voice communication network have been addressed with a Voice over IP solution. An intranet WEB site and video-conferencing will improve employee communication and training. ISP documents are shared by all Bank charters and Board approval schedules are documented and monitored for
compliance. The Plan will continue to implement the technologies to make all of these improvements possible.
STRATEGIC INFORMATION TECHNOLOGY PLAN
2015
STRATEGIC IT INITIATIVES TIME LINES INITIATIVES 2014 2015 2016 COMMENTSConsolidate and centralize
redundant processes and
procedures.
X X X Ongoing
Replace old servers X X X
Ongoing; server
warranties extended
through 2016.
Replace old workstations X X X
XP workstations virtually all replaced in 2014; replacing old workstations is ongoing; investigating Dell alternatives.
Standardize operating and
application software on
servers and desktops.
X X X Ongoing; migrating to
Windows 8.1.
Replace and upgrade
document imaging. X X X Began in 2014; ongoing..
Implement mobile banking X Complete
Transition Corporate servers
to new hosted data center. X 1
st & 2nd Qtr. 2015.
Begin FIS contract renewal
negotiations. X 1
st
Qtr.
Implement Apple Pay X 1st Qtr. – 2nd Qtr.
Implement Intranet WEB
site. X 1
st Qtr.
Standardize Horizon
STRATEGIC INFORMATION TECHNOLOGY PLAN
2015
Standardize ISP for all Bank
charters X X X Ongoing
Expand use of the Shoretel
Conference Bridge X X
Conduct extensive
training; ongoing
Investigate new technology
opportunities; prioritize
opportunities: remote
banking; loan barcoding;
online account opening;
Esign; consumer mobile
deposit capture.
X X Ongoing
Test the Business Continuity
Plan: Karpel; Datto recovery;
FIS; tabletop review.