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BancVue Ranks #2 Among Financial Services Firms in Inc. 500's Fastest Growing Private Companies in America List
| Source: BancVue
AUSTIN, TX--(Marketwire - September 15, 2009) - BancVue
(www.BancVue.com), the leading provider of innovative products, dynamic
marketing, and data-driven consulting solutions to community financial
institutions around the country, today announced it has been ranked the
second fastest growing financial services firm in Inc. Magazine's 28th Annual List of America's Fastest-Growing
Private Companies -- the Inc. 500. BancVue ranked 23rd overall in the
rankings.
BancVue, which serves over 600 community banks and credit unions
nationwide, saw its revenues jump 4,645.5% to nearly $22 million in 2008
from $460 thousand in 2005.
"It is an honor to be recognized as one of the most dynamic companies in
the nation," said Don Shafer, Chairman of BancVue, "but more importantly it
means BancVue's products and services are enabling community banks and
credit unions around the country to compete and win in the war against the
megabanks. We're fulfilling our mission and executing our long-term
business strategy successfully."
Shafer credits much of his firm's success to its "partnership approach"
with clients. More than just a provider of software solutions, BancVue
offers a complete suite of services that includes marketing support,
compliance guidance, employee training, mystery shopping, and ongoing
consultation.
Beyond the partnership philosophy, BancVue's success is also driven by the
development of the most innovative products in the industry. Through
extensive research, BancVue fortifies community financial institutions with
products that give consumers incentives that matter to them, which in turn,
address community financial institutions key business needs -- growing
core deposits, generating non-interest income, driving customer growth, and
customer retention.
BancVue's success in developing innovative products has been demonstrated
by the more than one million consumers nationwide that have opened its REWARDChecking account, an ultra
high-yield checking account that is branded differently by each community
financial institution. In less than 5 years, REWARDChecking has attracted
more than $10 billion in deposits at partner community financial
institutions across the country.
BancVue anticipates continuing its accelerated growth trajectory in 2010
with sustained innovation having recently launched Kasasa, a national brand of superior
products that gives community financial institutions the marketing scale
they need to compete with the megabanks. Kasasa is designed to unite
community financial institutions around a powerful brand of products that
will awaken the disengaged banking consumer by delivering what research
shows consumers want but believe they can't get. Already being piloted in
six markets with ten community financial institutions, Kasasa has delivered
unprecedented returns. In just two months of offering Kasasa, participating
community financial institutions are reporting growth rates upwards of 150%
on new accounts and 372% on deposits at those institutions that were
focused on deposit growth.
"As we look to next year, we're confident that by giving community
financial institutions the kind of national brand and marketing scale they
need to win the war against the big guys we'll continue our track record of
success," says Shafer.
Inc. 500 is an exclusive ranking of the nation's fastest-growing private
companies. The list represents the most comprehensive look at America's
independent-minded entrepreneurs. To be eligible for the 2009 Inc. 500
list, companies had to be U.S.-based, privately held, and not subsidiaries
or divisions of other companies. Qualifying firms must have been generating
revenue by the first week of 2005 and through the end of the 2008 calendar
year to show four full calendar years of sales.
About BancVue
BancVue is the leading provider of
innovative products, marketing, and consulting solutions to community
financial institutions nationwide. Serving over 600 community banks and
credit unions around the country, BancVue's solutions allow these
institutions to compete and win in the war against the megabanks and direct
banks. Community financial institutions benefit from the development and
implementation of BancVue's innovative products, including Kasasa, a
national brand of superior products that gives community financial
institutions the marketing scale they need to compete with the megabanks,
and REALChecking®, a system of innovative products, superior marketing,
and data-driven consulting. For more information on BancVue, visit
www.bancvue.com.