Welcome to the first annual GonzoBanker Awards. These awards are based on what we saw that we loved, what we saw that made us want to hork up our lunches, and what we saw that had us scratching our sorry noggins in utter perplexity.
Our methodology for bestowing the GonzoBanker awards is simple: take the criteria John Madden uses to select his all-Madden team, eliminate all of them, and trash any objectivity that may have existed. Yeah, that’s about right.
So pour the nog, put up your feet, fasten the chinstrap tight, and enjoy the ride.
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In Recognition of the Banks and the Bank People:
The Banking Story We Could Use About Now Award
Shorebank in Chicago. What, a feel-good story in banking? Damn straight. Shorebank supports 11 subsidiaries that are out in the community helping low-income folks buy homes, start small businesses, and manage their finances. Shorebank’s numbers won’t floor you, but we need more of this kind of thinking in banking. Check it out
A photo-finish second place goes to Abigail Adams Bancorp in Washington, DC
The Frazier Crane “I’m Listening” Award
The senior management at First State Bank in Albuquerque. On a regular basis, they have lunch with a different group of bank employees – all departments, all levels mixed together. The employees talk — anything goes. Management listens, and they act on it when it makes sense. And, boy, do those employees love working there. As Terence’s daughter and the seventh-grade girls at Madison School say: “Way cool.”
The Stock Darling of the Year Award
Commerce Bank of New Jersey. There wasn’t a stock analyst out there who wasn’t going ga ga over Commerce. We heard the “kids even get lollipops” story from three different investment bankers.
Best Computer/Network/Facilities Award
Pacific National Bank of Miami, FL. We’ve never seen a cleaner, better organized, more kick-ass facility.
Bank Debacle of the Year Award
Superior Bank of Chicago. Yet another “innovator” who could have used more guys with green eye shades around the place. Spurred quite a catfight between OTS and FDIC as well.
CEOs Who “Get” Technology Awards
- Jim Marcuccilli, Star Financial Bank, Fort Wayne, IN
- Bill Reid, Mechanics Bank, Hercules, CA
- Charles Emmer, Ent Federal Credit Union, Colorado Springs, CO
Living Proof That a Great CFO Can Become a Great CEO Award
Mark Anderson, Community First Bankshares, Fargo, ND. Talk about a guy who knows how to talk numbers with the analysts!
The “Let’s Make a Deal” Award
To Mike Gullion, CEO of Gold Banc in Kansas City. Every time we’re there, Mike walks in the door with a new loan package he “got at lunch”… or he starts pulling checks out of his pocket for new accounts… or he tells us about the new joint venture. It never stops. Somewhere in there, he sleeps.
Special Forces Award
Kathy Wilderman, Associated Banc-Corp, Green Bay, WI. For parachuting into hairy projects, expertly executing them, and rapidly getting out – smiling the entire time.
Technology/Operations Executives Who “Get” Banking Award
- Mike Elvir, Bank of Oklahoma, Tulsa, OK
- John Hairston, Hancock Bank, Gulfport, MS
- Don Peters, Associated Banc-Corp, Stevens Point, WI
The DEFCON 4 Award
Dan Fisher, Community First Service Corporation, Fargo, ND. This award goes to the CIO who best treats computer security like warfare. Ask Dan how he lures hackers into his killing field just past the DMZ.
Best Application of Technology to a Process Award
First Federal Savings Bank of La Crosse. These guys have made mortgage refinance a one-step process. We mean it, one step on the system. Same loan number for the borrower. And on an AS/400 – not a line of browser code in sight. The key to First Fed’s success? It wasn’t new technology. It was that everybody forgot to tell them that this was too hard to pull off, and they forgot to ask.
Best Development of a Data Warehouse on a Shoestring Budget Award
David Dietz, Stillwater National Bank and Trust, Stillwater, OK. With a little SQL server, cheap intranet tools and Crystal Reports, David has created an information environment that the even large banks would drool over… especially the awesome integration of Sendero profitability data.
Most Underrated Source of Bank Revenue Growth Award
The debit card. The basic math is 40 bucks a year every time you put a card in a customer’s hand.
Most Overblown Source of Bank Revenue Growth Award
Consultative selling. No comment please.
Bank Department Where You Are Most Likely to Get Voice Mail Award
Mortgage production. The processors, underwriters and closers over in the mortgage shop are simply worn out.
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In Recognition of the Vendors and the Vendor People:
The Grinch Who Stole Integration Award
Goes to any core vendor that – through policy, politics or pricing – allows only batch interfaces to its system from third party vendors. With all the talk of “open” systems, it still comes down to locking out the other guy. You’re bringin’ me down.
2nd Best Line From a Vendor at a Product Demonstration Award
“Of course it’ll wax your car and make you breakfast – it’s got an Oracle database!!”
Best Tap-Dance Scene Since Gene Kelly in “Brigadoon” Award
Unnamed data warehouse sales rep when asked to name a single client that has cost-justified the product.
Best Core Win of 2001 Awards
- In winning the deal at Boeing Employees’ Credit Union ($4 billion in assets and nearly 1,000,000 accounts) OSI did wonders for its own credibility and that of client/server delivery in general. With no C/S competition to speak of, OSI has only its own wins to convince the nonbelievers that C/S technology can scale. The size of this deal is a little on the scary side, but nonetheless a nice win for OSI.
- Precision Computer signed IBC, a $6 billion bank in Texas.
Best Non-Core Win of 2001 Award
To e-Bank, the fledgling CRM provider, for nabbing Wells Fargo. We suspect Paul Jameson’s pit-bull enthusiasm helped win this one.
Best Acquisition Award
The Fiserv purchase of NCR’s community banking business was a home run. This has a snug strategic fit and was a long time coming.
The Jerome Bettis Momentum Award
Jack Henry. Jack is beating the rest of the industry in the sub-$5 billion market like so many red-headed stepchildren.
The David Copperfield Award
To any vendor that trotted out a branch system, call center system or data warehouse and announced that it had been a CRM solution all along.
The “Your Honor, Please Strike This Answer From the Record Based on it Being Completely Unresponsive to the Question” Award
Goes to the loan originator demonstrator who, when asked if he could fill out a 1003 form, said, “That right there is the beauty of client server.”
With an honorable mention to the vendor who, when asked if the system utilized databases and programming languages that were proprietary or non-proprietary, said “Absolutely.”
Best “Head Stuck Completely in the Sand or Perhaps Somewhere Else” Answer Award
The president of a CRM software company, when asked how long it would take to completely integrate his company’s solution with a core system, from scratch, stem to stern, said, “Maybe two months.”
Best System Demonstrator Awards
- Dawn Drewnowski, OSI
- Jose Garcia, Symitar Systems
- Ken Fulgham, ALLTEL Horizon (OK, Ken doesn’t do much presenting any more, but he was among the very best.)
Worst System Demonstrator Award
Any programmer
Industry Segment That We Thought Would Be Gone by Now But is Doing Just Fine Award
Regional core processors. Who would have thought that there would be a dozen small regional core systems focusing on small community banks still alive in 2001? But, hey, they’re through Y2K, they have plenty of clients, they give great service, the price is right, and they’re making money. Proof positive that niches are alive and well
The “How Can We Miss You If You Won’t Go Away?” Award
Any presentation that still has the phrase “high tech, high touch.”
Most Nauseating Statement Heard From Vendors This Year Award
“Our solution integrates customer information across every touch point.”
Most Encouraging Statement Heard From Vendors This Year Award
“Things are kind of slow, so we’re willing to make a deal.”
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In Recognition of Technology Development (or the Lack Thereof):
Technology That Has Been Given the Most Development Dollars That Banks Didn’t Really Ever Ask For Award
Closed-loop CRM
Technology Nobody Has Developed and Deployed That Banks Really Want Award
Automated sales reporting and incentive payments
System Investment That Turned Into the Home Run Award
Credit scoring
System Investment Gathering the Most Dust Award
Data warehouse. This is a tough one. On paper this project is a great idea, but nobody seems to have the time and nobody seems to have the money to really make it work.
Most Important Technology of the Year Award
The firewall. Between hacks and viruses and terrorists, computer security rose to the top of the priority list.
Most Underrated Technology of the Year Award
XML. Is this the saving grace for interfaces? Slowly, developers are starting to speak the same language.
Best Underground Technology of the Year Award
Instant messaging. While few corporations endorse it, we might see IM as a key tool in future work flow environments. To all old farts, try it – it’s really cool!
Annoying Technology You Can’t Live Without Award
Microsoft Service Pack Updates. Seems like there’s a new one every five minutes, but if you don’t update, your bank is simply hosed.
Most Idiotic New Technology Award
Wireless access ATMs. We’re not talking about an ATM attached wireless to a data network. We’re talking about using a Palm or cell phone to command an ATM that lacks a screen or keyboard – sheeeesh!
Financial Technology Most In Need of Innovation Award
Trust systems. Waiting for enhancements is worse than watching paint dry.
Financial Technology Most In Need of Competition Award
Loan origination systems. LaserPro or Bankers Systems for docs… Appro for consumer… Baker Hill for commercial… can we see a little more action here please?!
Best Wireless Success Story
Hang on, I’m going through a tunnel.
The Ronco (Product Searching For a Market) Award
Account aggregation. One step away from the in-kitchen chicken rotisserie and the fruit dehydrator.
The Buggy Whip Award
Bank shopping portals are outer than out. Can I get an “AMEN!!” from the congregation??
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The Various and Sundry Awards:
The Iron Guts Awards
The folks at Sandler O’Neill and KBW. It was great to see both companies muster the strength to start rebuilding their organizations after 9-11.
Budget-Busting Event of the Year
Eleven consecutive rate cuts by Greenspan. No treasurer on earth predicted this one – felt like financial bungy jumping down to lowest short rates in 40 years!
Worst Story of the Year
NCR/Starcom/Autobank/Sanchez. An inglorious ending to a bad trip, man.
Industry Event That Most Resembled a B-Movie
Russian mafia tries to hack small community banks running Q-UP – can’t you just picture a guy named Pavo wearing dark glasses, smoking and bragging, “Dees Americans… they are so stupid… I get right in their computers.”
Dot.com Showing the Most Endurance
E*Trade. Brokerage growth is very slow, but these guys keep hammering out new financial services – like a debit card with bank and brokerage account access.
Best College Quarterback to Ride the Pine Due to Whorish Athletic Department Politics
Major Applewhite, The University of Texas at Austin
Best Stuff Stricken by Puritanical Editing from the GonzoBanker Newsletter (a.k.a. The Whiner Award)
To Scott “I was robbed on this one and it still stings“ Hodgins. The excerpt in question?
“So there we were, playing a little Yahtzee and quoting Henny Youngman one-liners when the three sweating Hell’s Angels burst into the dank attic, their brooding souls and piercing scowls even darker than the chafing leather of their ill-fitting chaps. Screaming for vengeance and jabbering about Che Guevara and the Halford twins, they rushed us like it was free Zima night at the Santa Monica Show Tunes Festival. I wheeled around and dove for the hidden fire escape, but Felicia, she wasn’t so lucky.…”
– GonzoBankers