AUSTIN, TX--(Marketwire - August 31, 2010) - 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 seventh fastest growing financial services firm in Inc. Magazine's 29th Annual List of America's Fastest-Growing Private Companies -- the Inc. 500 (www.inc.com/inc5000/profile/bancvue).
The Austin-based firm, known for its commitment to research and development, was the only financial services company focused exclusively on community financial institutions to make the list.
BancVue, which serves nearly 700 community banks and credit unions nationwide, saw its revenues jump to nearly $38 million in 2009, up 2,170 percent from $460 thousand in 2005, the firm's first full year of operations. Ranked as the fastest-growing private firm in the Austin metro area, BancVue placed 117th in the overall Inc. 500 ranking.
"It's nice to be recognized, of course," said Don Shafer, Chairman of BancVue, "but what's really important is that the products and services BancVue is providing community banks and credit unions are working. Our innovative solutions are empowering community financial institutions across the country to compete and win the war against the megabanks."
Shafer credits much of his firm's measurable success to its commitment to developing industry-leading, innovative solutions for its community bank and credit union partners. BancVue has been nimble and agile in responding to rapidly changing financial regulations and shifting consumer sentiment through ongoing research, new product development, and continuous refinement of existing products.
BancVue started with the REALChecking® system, which includes REWARDChecking®, and has attracted more than $16 billion in deposits in less than five years. In addition, the Austin-based firm has received an overwhelmingly positive response from consumers to Kasasa® (www.kasasa.com), a national brand of innovative free checking and savings accounts offered exclusively by BancVue clients.
In the past year, BancVue introduced REALCashback™ and Choice Checking™ in anticipation of changing financial regulations. Designed to keep community financial institutions in a competitive position despite daunting changes, these products empower account holders to earn powerful rewards from their community banks and credit unions.
"Our mission at BancVue is to bring innovative and market-ready products to the community financial institution marketplace," says Shafer, "and I can tell you, we've no intention of slowing down. As we move toward 2011, you can expect to see more great research- and data-driven products designed specifically for forward-looking community banks and credit unions."
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 2010 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 last week in June of 2006, and further must have had a minimum of $80,000 in revenue for year-end 2006, and a minimum of $2 million in revenue for year-end 2009.
About BancVue
BancVue is the leading provider of innovative products, marketing, and consulting solutions to community financial institutions nationwide. Serving nearly 700 community banks and credit unions around the country, BancVue's solutions allow these institutions to compete and win in the war against the megabanks. Community financial institutions benefit from the development and implementation of BancVue products like Kasasa®, a national brand of superior products that gives community financial institutions marketing scale, and REALChecking®, a system of groundbreaking products, superior marketing, and data-driven consulting. For more information on BancVue, visit www.bancvue.com.
Contact Information:
Contact:
Dan Mahoney
www.csg-pr.com
970.405.8060