How West Monroe Delivers Impact
So, what I learned was there [are] multiple ways to use your data. And we weren't using hardly any of it…and really using that data for the better of our customers and our employees.
President & CEO
Financial Services Director
I think that cross practice collaboration is what allows us to bring the best from technology, from lending, from treasury management, from operations and process, from product and data into these organizations. And frankly, when you pair up with a client like Chris and Texas First Bank, it's a lot of fun
Texas First Bank has executed 50-75% of the original initiatives suggested in the strategic roadmap.
The team implemented 30 bots to save thousands of hours of manual work.
The bank had 1.3B in assets under management, and after the work less than 5 years later, they are now at 2.2B.
Technological advances were moving so fast and still are, and we needed a strategy to remain competitive in the marketplace, as well as project management expertise to ensure the time and money necessary to modernize would be well spent.
Initially the team thought the issue was primarily technology-based, but it became clear that operations, growth plans, and the way the client was using data were also vital to understand in addition to the current state of the tech stack. As the project commenced, the team developed a north star—big picture concept of where the bank was going and what it wanted to be—to help drive decision making and create alignment.
What was the original challenge that Texas First Bank was trying to solve when you first contacted West Monroe?
Another tool we implemented was the most valuable customer dashboard. It looks at customer account information to analyze the bank’s most valuable customers and those that had the highest potential value for them long term. Having access to that data really shifted mindsets internally and has spurred growth and innovation at the bank.
We created an innovation roadmap and created project management and transformation offices, which got our staff laser focused on the objectives of the roadmap, then went to work on implementing the steps identified in the roadmap. One key step was to implement bots to automate tasks—we are now saving thousands of hours and making our teams more efficient.
How did we solve
that challenge together?
Velocity. We have helped create a velocity for Texas First by providing a direction to follow and alignment across the organization. They have become a more digitally forward bank. One that can manage and execute transformation, which is helping to differentiate them within their market of community banks. Texas first is able to grow and manage their team well while managing expenses and their efficiency ratio, which is the envy of community banks.
It’s all about the people. If you’ve got the right people, you can do anything, and our folks have really stepped up and are working like they never have before, laser focused on what the bank’s objectives are. We are able to execute on more projects than we ever dreamed, growing at a high level without adding FTEs. We were pushing 1.3 B in assets before this, and now [less than 5 years later] are at 2.2B. And the team is happier, and so are the shareholders, because the return is better.
What was the value and impact delivered to the bank?
“We've developed a really great relationship. As a consultant, you always try to strive towards becoming that trusted advisor. I think in this case, I am to Chris... I get a lot of joy out of working with Texas First, because it's really about helping them achieve the goals for the bank and helping Chris achieve his personal goals for the bank. And I get a lot of satisfaction out of that. And frankly, in seeing them succeed is the cherry on top”.
“Well, personally, I've gained so much since we've contracted with West Monroe...and I've become a better president and CEO for that. You know, our numbers have improved at the bank because of that. But it's that critical thinking that West Monroe and Josh specifically has brought to me and really challenged me".
What has the value and impact been on you personally?
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