Franklin Federal Savings Automates Account Openings

Software helps decrease customer wait times, bank says.

Richmond, Va.-based Franklin Federal Savings Bank has implemented Compass account automation software from Benchmark Technology Group.

A community bank with nearly $1 billion in assets and 100 employees, Franklin Federal deployed Compass to decrease customer wait times and improve cross-selling opportunities at each of its seven retail branches. Compass helped automate the influx of new account openings the bank began experiencing after recently converting from a savings & loan charter to a community savings bank.

"One of Franklin Federal's primary goals is to service customers' financial needs with exceptional personal attention they cannot find at a large bank," said Brenna Haley, senior vice president for Franklin Federal, in a statement. "Compass supports this initiative by automating and expediting account opening processes, allowing tellers to build rapport and address customers' financial needs instead of focusing on inputting data and checking for errors. The efficiency provided by Compass enables Franklin Federal to grow as a community bank, while continuing to provide the level of customer service it's been known for since 1933."

According to the vendor, Compass integrates with core systems and third-party applications to guide CSRs through new account openings and maintenance processes, while complying with bank policies and procedures.

In addition to Compass, Franklin Federal uses Benchmark Technology Group's Proof21, a teller capture application, and STeller, a teller transaction processing application.