4/1/2003 - Sun Microsystems signed 78 new wins on Kirchman's Bankway product in the last 90 days by addressing the challenges of mid-sized banks, or those with assets from $100,000 to $5 billion. Since October, Sun has been quietly gaining marketshare from competitors and tallying up its successes with mid-size financial institutions.
Florida-based Kirchman Corporation, a Sun iForce partner, recently sold its core banking solution product Bankway to TowneBank, the largest FDIC-regulated bank in Virginia that originated in a garage four years ago. TowneBank estimated savings of $500,000 in the first year of running Kirchman's Bankway solution on Sun, and $1 million per year by 2007.
"When we were evaluating whether an IBM mainframe or open systems platform would serve the bank's needs best, Sun was the only IT vendor whose products met the criteria for ease of migration, scalability, reliability and lower cost of operations," said Keith Horton, executive vice president of TowneBank Technology and Operations. "Because of the features, functions and cost, Sun is the best solution for our bank."
Other recent Kirchman/Sun banking contracts with Sun Fire V880s servers include Pensylvania-based Mars National Bank (assets of $258 million), Ohio-based Security National Bank (assets of $868 million), Farmers Bank of Lincoln, Neb. (assets of $65 million), Missouri-based Community Bank (assets of $38.5 million) and Missouri-based Landrum Holding Company (assets of $850 million). Additionally, Intrieve Corporation, eBank Systems, SBS Datacenter and Brasfield Data Services, providers of outsourced technology solutions to financial institutions, are moving a total of 72 banks to the Sun platform from proprietary systems to help them lower costs.
"You just can't beat Sun for scalability, reliability and conserving our customers' budgets," said Rachel Landrum, president of Kirchman Corporation. "The clincher was Sun's acquisition of the Sun Mainframe Transaction Processing [MTP] software, which was the solution we'd been using to rehost our mainframe applications and data to UNIX."
Sun currently has over 950 MTP software installations worldwide, bringing 100 additional sites online since June 2002. With Sun Mainframe Rehosting solutions, companies have saved 50 percent or more when moving off the mainframe onto Sun.
"Retail bankers today have only three business requirements," said David Moore, Global Banking Manager for Sun. "Building new revenue streams, reducing costs and increasing customer loyalty by finding more efficient ways to add new products and services through an open IT infrastructure. Sun provides an excellent solution for banks striving to achieve these goals."
About Sun Microsystems, Inc.
Since its inception in 1982, a singular vision -- "The Network Is The Computer" -- has propelled Sun Microsystems, Inc. (Nasdaq: SUNW) to its position as a leading provider of industrial-strength hardware, software and services that make the Net work. Sun can be found in more than 100 countries and on the World Wide Web at http://sun.com
Sun, Sun Microsystems, the Sun logo, iForce, Sun Fire, and "The Network Is The Computer" are all trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries.
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