Bank First Successfully Implements UFS's Empowered Core Banking Platform

Rhea-AI Summary

Bank First (NASDAQ: BFC) has successfully implemented UFS's Empowered Core banking platform, enhancing its growth strategies by providing greater flexibility, speed to market, Fintech enablement, and acquisition capabilities. The platform build-out, initiated seven months ago, culminated in a smooth data migration on June 23, 2024, ensuring no customer impact. This upgrade strengthens Bank First's long-term partnership with UFS, which delivers high IT efficiency and support. UFS President Eric Jones highlighted the successful collaboration, noting the platform's potential for optimizing technology for regional banks.

Positive

• Successful implementation of UFS's Empowered Core platform enhances flexibility, speed to market, Fintech enablement, and acquisition capabilities for Bank First.
• The migration of data was completed on schedule with no customer impact, reflecting operational efficiency.
• Strengthened long-term partnership with UFS, enhancing IT efficiency and support.

Negative

• None.

MANITOWOC, Wis., July 1, 2024 /PRNewswire/ -- Bank First (NASDAQ: BFC) proudly announces the successful implementation of the Empowered Core banking technology platform developed by UFS, a leading technology outfitter for community banks. This transition supports Bank First's growth strategies by offering greater flexibility, speed to market, Fintech enablement, and enhanced acquisition capabilities.

"This new platform expands our long-term partnership with UFS and enables our organization to execute our strategic plans with speed and flexibility, ultimately delivering greater value to our customers and stockholders," said Mike Molepske, Bank First CEO.

The build-out of Bank First's new platform, which began seven months ago, culminated in successfully migrating all data and technology on June 23, 2024. This conversion was completed on schedule through the collaborative efforts of the experienced teams at UFS and Bank First, ensuring a seamless transition without customer impact. "To achieve our strategic goals, we decided to expand our partnership with UFS and implement the Empowered Core platform," said Matt Longmeyer, Vice President – Director of Technology at Bank First. "This move gives us greater control to scale and grow while preserving the valued services, support, and guidance we receive from UFS, who deliver a high degree of IT efficiency."

"With the addition of Bank First to their Empowered Core customer base, UFS now has the scale and experience to deliver solutions for regional banks looking to optimize their technology platforms," said Eric Jones, UFS President. "As a bank technology outfitter, this is one example of how we execute with our growing portfolio of innovative and adaptive solutions to empower our bank customers. We are grateful for the confidence Bank First has demonstrated in our outstanding team to pursue this unique offering, allowing them to continue thriving and serving their communities."

About Bank First: Bank First, headquartered in Manitowoc, WI, is a leading community bank with $4 billion in assets. Committed to providing exceptional customer service and innovative banking solutions, Bank First offers a comprehensive range of financial products and services designed to meet the diverse needs of its customers. For more information about Bank First, visit www.bankfirst.com.

About UFS: UFS, the bank technology outfitter for community banks, provides purpose-built, bank-exclusive technology services and solutions. Founded in 1991, UFS empowers community banks to thrive through exceptional industry expertise and experience, offering a comprehensive portfolio that includes core banking applications, cybersecurity as a service, managed IT services, private cloud, vulnerability management, advisory services, and hardware and infrastructure support services. 

For further information, contact:
Rachel Oakes, Marketing Communications Manager
Phone: (608) 372-2265 | roakes@bankfirst.com

View original content:https://www.prnewswire.com/news-releases/bank-first-successfully-implements-ufss-empowered-core-banking-platform-302186272.html

SOURCE Bank First Corporation

FAQ

What new platform did Bank First implement in July 2024?

Bank First implemented the Empowered Core banking platform developed by UFS.

How does the implementation of the Empowered Core platform benefit Bank First (BFC)?

It provides greater flexibility, speed to market, Fintech enablement, and enhanced acquisition capabilities.

When was Bank First's data migration to the new platform completed?

The data migration was completed on June 23, 2024.

What impact did the platform migration have on Bank First's customers?

The migration was completed without any customer impact.

How long did the build-out of Bank First's new platform take?

The build-out took seven months.