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Colonial Bank Harneses Robbins-Gioia's Program Management
Support To Modernize Collateral Monitoring Systems, Enhance Operating
Efficiency
Companies Team to Implement Technology Improvements
August 8, 2002, Alexandria, Virginia—
Robbins-Gioia LLC, , the leading provider of program management solutions
joined forces with Colonial Bank to enhance operating efficiencies within its
Mortgage Warehouse Lending Division.
Colonial Bank's Mortgage Warehouse Lending Division, responsible for lending to
top-tier mortgage companies, enlisted the assistance of Robbins-Gioia to offer
third-party validation of its information technology improvement process.
Robbins-Gioia was tasked with comparing the division's technology and
operations to industry practices, rationalizing future improvements, and
implementing a structured vendor management infrastructure.
Colonial Bank, supported by Robbins-Gioia, first executed a structured and
comprehensive assessment to understand organizational and divisional objectives
and the supporting technology and processes.
Upon completion of the in-depth review, Colonial Bank recognized it could
achieve a higher level of operational efficiencies and enhanced customer
service through the implementation of a new collateral monitoring system. As
the production of a new collateral monitoring system takes several months and
was currently in progress, the team took a "triage" approach to implementing
technology improvements in the existing system. The team identified
high-priority first steps, which included enhancements to the electronic user
interface. As a result of these efficiencies, Colonial Bank was able to deliver
a more effective and easy-to-use system to its customers.
Additionally, Colonial Bank worked with Robbins-Gioia to evolve division-wide
program management practices. One area of focus involved the development and
implementation of a structured vendor management process. Colonial Bank worked
with Robbins-Gioia to review all vendor contracts and deliverables, and built a
schedule to map the replacement of the old system. Colonial Bank also tasked
Robbins-Gioia with establishing a more structured communications network by
implementing more formal issue tracking management processes and tools.
"Changes in the financial services market are driving increased competition and
entirely new business models. This is forcing banks to evolve and realign
internal processes and operations," said Gene Bounds, chief operating officer,
Robbins-Gioia LLC. "Colonial Bank recognizes the benefit and value-add of
structured program management support. Working together, we have not only
resolved an immediate need, but also installed repeatable processes and tools
to assist in responding to continued market changes."
About Colonial Bank
Colonial Bank, a subsidiary of The Colonial BancGroup, Inc., has strategically
expanded its presence as part of a long-term strategy of sustained, controlled,
qualitative growth. The Colonial BancGroup, Inc., is a $13.7 billion
multi-state holding company headquartered in Montgomery, Alabama, with more
than 260 locations in Alabama, Florida, Georgia, Nevada, Tennessee, and Texas.
Colonial has a broad line of retail and commercial banking products and
services including cash management, electronic banking, credit card and
merchant, and wealth management. Colonial BancGroup is traded on the New York
Stock Exchange under the symbol CNB, listed in most newspapers as ColBgp, and
located on the Internet at
www.colonialbank.com.
About Robbins-Gioia, LLC
Robbins-Gioia has been dedicated to delivering management consulting solutions
to government agencies and Fortune 500 companies for 20 years. Robbins-Gioia
combines thought leadership, disciplined processes, industry-based knowledge,
and integrated tools to help global customers optimize their business
processes, accelerate change, and establish time, cost, and quality
improvements to transform their businesses.
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