Colonial Bank Harneses Robbins-Gioia's Program Management Support to Modernize Collateral Monitoring Systems, Enhance Operating Efficiency.Business Editors ALEXANDRIA, Va.--(BUSINESS WIRE)--Aug. 8, 2002 Companies Team to Implement Technology Improvements Robbins-Gioia LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the leading provider of program management solutions joined forces with Colonial Bank Colonial Bank, a subsidiary of Colonial Bancgroup Inc. NYSE: CNB, is headquartered in Montgomery, Alabama. Colonial Bank has 300 branches in the states of Alabama, Georgia, Florida, Nevada and Texas. Its common stock is traded on the NYSE under the symbol CNB. 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 triage Division of patients for priority of care, usually into three categories: those who will not survive even with treatment; those who will survive without treatment; and those whose survival depends on treatment. " 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 The transmission channels interconnecting all client and server stations as well as all supporting hardware and software. by implementing more formal issue tracking management processes and tools. "Changes in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. market are driving increased competition and entirely new business models. This is forcing banks to evolve and realign re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. internal processes and operations," said Gene Bounds, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , 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 Montgomery is the capital and second most populous city of the U.S. state of Alabama and the county seat of Montgomery County. Montgomery is notable for its historic involvement during the Civil War, for being the first capital of the Confederacy, and for being a primary site in , 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 New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol CNB CNB Czech National Bank CNB Centro Nacional de Biotecnologia CNB City National Bank CNB Citizens National Bank CNB Croatian National Bank CNB Chloronitrobenzene CNB Corresponsales No Bancarios (Spanish, Colombia) , listed in most newspapers as ColBgp, and located on the Internet at www.colonialbank.com. About Robbins-Gioia Robbins-Gioia has been dedicated to delivering management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects solutions to government agencies and Fortune 500 companies for more than 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. For more information, please call Robbins-Gioia, LLC at 800-663-7138, or visit the web site at www.robbinsgioia.com. |
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